SLT-MOBITEL has reported a flat growth in Q1 2024 ending March 31, 2024, amidst a challenging business environment. However, the company’s proactive cost management initiatives have resulted in significant operational cost savings, enabling it to maintain profitability. For the quarter, the SLT Group has recorded consolidated revenue of LKR 26.93 billion, reflecting a marginal 1.4%…
Strong net profit growth in the final quarter of 2023-24 has enabled Teejay Lanka PLC to end the financial year on an optimistic note despite the impacts of the appreciation of the Rupee, which contributed to its 12-month results falling below those of the preceding year. Sri Lanka’s first multinational textile manufacturer has reported net…
Fonterra Co-operative Group Ltd has today announced a step-change in its strategic direction, as it commits to deepening its position as a world-leading provider of high-value, innovative dairy ingredients. As part of this, the Co-op has announced it is exploring full or partial divestment options for some or all of its global Consumer business, as…
SriLankan Cargo, the cargo arm of SriLankan Airlines, has partnered with CargoAi, a leader in digital freight solutions, to simplify and enhance its airfreight booking and payment processes, and bring more transparency and velocity for users than ever. The integration of SriLankan Cargo’s airfreight services into CargoAi’s ecosystem gives users access to online booking and…
Port City Colombo, a visionary multi-service special economic zone poised to transform Sri Lanka into the next global investment destination, provides the opportunities to a diversity of companies to upscale their businesses within the property development and key thrust sectors, whilst being supported by strong investor mechanisms. With the aim of becoming a world-class hub…
Two cruise ships docked at Hambantota International Port on 15th May 2024. MV. Silver Cloud owned by Silversea Cruises, the luxury brand of the Royal Caribbean Group arrived from Cochin carrying 232 passengers while TUI’s Mein Shiff5 arriving from Langkawi carried 2,434 passengers. A group of passengers from Mein Shiff 5 did their customary e-bike…
PhonePe and LankaPay organise an event which sees the presence of senior dignitaries from the Sri Lankan and Indian Government PhonePe, announced that it has enabled UPI payment acceptance in collaboration with LankaPay across LankaQR merchant points at a grand event held in Colombo. The event was graced by His Excellency Shri Santosh Jha, the High…
The Chief Executive Officer of the Colombo Stock Exchange Mr. Rajeeva Bandaranaike says that steps have been taken to revise the T+3 method which has been followed so far for settlement of Colombo Stock Exchange transactions from the 10th of June 2024. In a statement, he said that the T+3 system will be shortened with…
Adani Energy Solutions Limited (AESL) through its wholly owned subsidiary Adani Transmission Step-Two Limited (ATSTL) acquired a 100% stake in Essar Transco Adani Energy Solutions Ltd (AESL), one of the largest private transmission and distribution company in South Asia with a growing smart metering portfolio, has acquired 100% stake in Essar Transco Limited after obtaining…
The brand licensing division of Hela Apparel Holdings PLC, Focus Brands, has announced a strategic partnership with Tesco to introduce its Peter Werth and Fenchurch fashion brands to the retailer’s stores across the UK. The collaboration further enhances the Hela Group’s long-standing relationship with one of the UK’s largest retailers and will provide consumers with the opportunity to purchase two of its owned…
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