Citrus Leisure PLC has announced the appointment of Suresh de Mel as Chairman of the Board of Directors. Suresh De Mel will serve as Chairman of the Citrus Leisure Group of Companies which includes Waskaduwa Beach Resorts PLC and Hikkaduwa Beach Resorts PLC. The appointment comes following the sudden demise of the Group’s much loved…
A report on formally starting the import of vehicles soon – Minister Siyambalapitiya says Minister of State for Finance Dr. Ranjith Siyambalapitiya says that the vehicle importers are expected to provide him with a special report on the removal of vehicle import restrictions and the possible impact. The minister points out that this report, prepared…
Q1 24 Core Revenue recorded at Rs 34.6Bn, up 1% YoY Q1 24 EBITDA recorded at Rs.13.5Bn, up 3% YoY EBITDA Margin reach 31.4% up 5.4pp Total Taxes Paid to GoSL Rs12.3Bn which included Rs4.3Bn in Direct and Rs8.0Bn in Indirect Taxes Capex Investments of Rs3.3Bn during the Quarter; OFCF reached Rs6.6Bn for Q1 24…
Nestlé Lanka and the Commercial Bank of Ceylon partnered to launch an initiative to support dairy farmers with concessionary finance to expand their operations and increase milk yield, in line with the purpose of implementing regenerative agricultural practices to reduce greenhouse gas emissions in the dairy value chain. To support Sri Lankan dairy farmers facilitate…
Emirates reaffirms support to Sri Lanka’s tourism sector through Memorandum of Understanding (MoU) with Sri Lanka Tourism Promotion Bureau Emirates has reaffirmed its long-standing commitment to promoting tourism to Sri Lanka through a Memorandum of Understanding (MoU) signed with the Sri Lanka Tourism Promotion Bureau at Arabian Travel Market 2024 in Dubai. The MoU was…
Strategic relationship sees transfer of tea estates ownership and global adoption of new quality, social and environmental standards Lipton Teas and Infusions has agreed terms of a partnership which will result the transfer of its tea estate in Kenya, Rwanda and Tanzania to Browns Investments alongside an agreement that all tea sold by Browns worldwide…
According to a new market research report titled, ‘Electric Scooters Market by Vehicle Type (Electric Motorcycles, E-Kick scooters & Bikes, Electric Mopeds), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW), Battery Technology, Motor Type, Charging Type, End-user, and Geography—Forecast to 2031′, the electric scooters market is projected to reach $408.1 billion by 2031 from an estimated $103.5 billion in 2024, at a…
Federation of Information Technology (Guarantee) Limited (FITIS) held its Annual General Meeting – 2024 on 30th April 2024 at the Hilton Colombo Residencies. During the Meeting new officials were appointed to the Board of Directors and Chapter Executive Committees. Mr Indika De Zoysa was appointed as the Chairman for the second successive term. Addressing the…
Sri Lanka Aims for an Export-Oriented, Competitive and Green Economy Towards Net Zero. President Ranil Wickremesinghe emphasized on-going efforts to enact unified legislation addressing environmental protection and climate change. He highlighted the government’s commitment to crafting economic policies geared not only towards fostering export-oriented competitiveness but also towards transitioning to a green economy, aiming to…
Group Net Operating Income increased 48% to 9.6 Bn Impairment charge dropped 66% to LKR 1.6 Bn with the revival of the economic environment. Group Profit After Tax is up by 85% to LKR 3.8 Bn DFCC Bank demonstrated resilience and continued its commitment to serving customers nationwide, delivering high-quality customer centric banking services amidst…
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