A prominent delegation of 30 members of China National Garment Association (CNGA), led by Executive Vice President of XIE QING and Ningbo Garment Association Vice president and Secretary General MAO YIHUA met the Chairman/ CEO, EDB, Executive Director, BOI, and members of JAAF on the 9th of May 2024. The CNGA is a leading industry…
Acquisition by Lavendish Leisure marks group’s second hotel purchase in the UK The Grade-II listed Cathedral Quarter Hotel in Derby has been sold to new owners by The Finesse Collection who transformed the property into a hotel in 2008. The hotel has been acquired by Rashmi Dedigama and Peter Karan of Lavendish Leisure, a subsidiary…
Breaking Barriers: A Fresh Legislative Initiative Fosters Collaboration Among Agricultural Agencies. Streamlining Plantation Practices: Introduction of Innovative Technical Management. Cabinet Endorses Draft Laws Paving the Way for Agricultural Export Economy- Says President. President Ranil Wickremesinghe outlined his commitment to propel the nation’s economic progress by spearheading a shift from the traditional plantation Industries to a…
Operating Income of LKR 11.9Bn up 3% YoY Stage 3 loan ratio reduced to 2.1% Profit After Tax of LKR 3.7Bn, up 35% YoY Total Capital Adequacy Ratio of 18.7% Liquidity Ratio of 45% Nations Trust Bank PLC reported a strong performance in the first 3 months of 2024, posting a Profit Before Tax (PBT)…
Loan book grows by Rs 20 bn. in 3 months, amidst FX impacts CASA ratio improves to 40.51%, positively supporting NII Net interest income up 45.97% to Rs 27.7 bn. Total taxes increase by over 150% to Rs 8.6 bn. The Commercial Bank of Ceylon Group has ended the first quarter of 2024 with a…
National Development Bank PLC, Sri Lanka’s fourth largest listed bank commenced the financial year on a positive note, with resilient performance for the first quarter of the year ended 31 March 2024. NDB’s Director/ Chief Executive Officer Mr. Kelum Edirisinghe commented that the Bank continued to face challenges on relatively low credit demand due to…
This month holds a significant milestone as Siddhalepa, the globally acclaimed Ayurveda-based wellness brand, unveils its presence in the Middle East, particularly in the United Arab Emirates. This auspicious occasion celebrated on May 9, at the Pullman Hotel, Diera, Dubai, signifies a new era of holistic wellness in the region. The launch event commenced with…
In a landmark move aimed at propelling Sri Lanka’s export sector to new heights, the Sri Lanka Export Development Board (SLEDB) and People’s Bank have entered into a strategic partnership. The collaborative effort was cemented through the signing of a Memorandum of Understanding (MOU) in Colombo. This partnership endeavors to invigorate the country’s export landscape…
AI-first set of services, offerings, and solutions will guide organizations through fast-moving genAI-powered transformations Virtusa Corporation, a global provider of digital strategy, digital engineering and IT services and solutions, today announced the launch of Virtusa Helio, a new suite of platforms, accelerators, and consulting services that empowers organizations to leverage genAI effectively in their digital…
Fitch Ratings: Fitch Ratings believes that policies designed to support exchange rates are unlikely to pose significant near-term risks to the credit profiles of APAC investment-grade sovereigns, but any deterioration of official reserve buffers could pose greater risks to vulnerable ‘frontier markets’ in the region. A number of APAC governments have recently demonstrated concern about…
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