Appoints Jeevan Gnanam as Managing Director Sigiri.Ai founded by Lasitha Gunasinghe has introduced a groundbreaking development for Sri Lanka’s digital landscape: the first-ever Sinhala and native Tamil Large Language Models (LLMs). This pioneering step brings advanced natural language processing to local languages, offering new levels of accessibility and engagement for Sinhala and Tamil speakers. The…
Prof. P.N.D. Fernando officially took over as Chairman of People’s Bank on 18th November 2024 at a ceremony held at the bank’s Head Office attended by CEO/GM of People’s Bank, Clive Fonseka and the bank’s senior management. Prof. Fernando brings with him over 25 years of experience in finance, banking, and higher education. He has…
The Adani Group’s wind power project in Mannar, Sri Lanka, has a planned capacity of 250 megawatts (MW). This project is part of a broader investment in renewable energy by Adani group in Sri Lanka, with expected completion by 2025. This initiative aims to support Sri Lanka’s renewable energy goals and create up to 2,000…
Hela Apparel Holdings PLC has announced a significant improvement in its financial performance during the quarter ended 30th September, with a return to operating profit for the first time in eight quarters. This positive result highlights the recovery of demand conditions in its key export markets and underscores the successful outcomes of its ongoing restructuring…
Customer deposits cross Rs 1.6 Tn Contribution to Government revenue by way of taxes exceeds Rs 25 Bn for 9M Continues to maintains strong capital and liquidity levels Asset quality further strengthened with net stage 3 ratio at 3.32% and provision coverage ratio at 60% HNB Group recorded a PAT of Rs 23.7 Bn growing…
Over the last few weeks, it is noticed that an alarming narrative being built, which initially took life in social media but soon has found its way to mainstream media as well. A couple of social media handles began sharing their (ill-informed) concerns that the Adani Group, to which the Bangladesh government owes over $850…
Richard Pieris Group, one of Sri Lanka’s largest and most diversified conglomerates, recorded a Profit Before Tax (PBT) of Rs.3.59 billion in the first six months of the 2024/25 financial year, recording a significant profit growth of 184% over the corresponding period from the last financial year where the company recorded a PBT of Rs.1.26…
WindForce PLC, Sri Lanka’s premier renewable energy developer, delivered exceptional results for the second quarter of the 2024/25 fiscal year, driven by a strategic focus on large-scale projects. EBITDA surged by 49% to LKR 4.22 billion compared to the previous year, reflecting robust cost management and a commitment to high-impact initiatives. As part of its…
Aitken Spence PLC, a leading conglomerate with a diverse regional presence, reported an EBITDA (excluding impacts from foreign currency exchange gains and losses) of Rs. 8.9 billion for the six months ending 30th September 2024, reflecting a growth of 10.4%. EBITDA includes earnings from equity accounted investees; however, excludes interest expenses, tax, depreciation, and amortization….
In a world where travelers seek more than just a destination, creating unique and memorable experiences has become the cornerstone of the hospitality industry. Recognizing this, Fairway Colombo, a smart luxury business hotel known for its innovative spirit, is set to redefine the guest experience in Sri Lanka by introducing robot operations, becoming the first…
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