“Sustaining Growth – Bridging Horizons” The Ceylon Chamber of Commerce proudly announces its appointment as the Chair of the Indian Ocean Rim Business Forum (IORBF) for 2023 – 2025. In line with this prestigious appointment, the Ceylon Chamber in collaboration with the Ministry of Foreign Affairs Sri Lanka will organise the “Indian Ocean Rim Association…
Earnings from merchandise exports increased by 9.8 per cent to US dollars 1,139 million in March 2024 compared to US dollars 1,037 million in March 2023. There was an increase in earnings across all major categories of exports, where industrial exports increased the most. The increase in industrial goods exports in March 2024 (year-on-year) was…
Expolanka Holdings announced its financial results for the fourth quarter and full year ended March 31, 2024, demonstrating resilience in the face of a volatile macro environment, sustained by its agility and strategic focus. For the quarter ended March 2024, the company reported Revenue of Rs. 66.0 billion, Gross Profit of Rs. 12.8 billion, and…
To enhance operational efficiency, the Sri Lanka Ports Authority has started installing ship-to-shore (STS) gantry cranes on the fifth phase of the Jaya Container Terminal (JCT). These cranes were temporarily installed and used for operations at the East Container Terminal from 2020 until the completion of Phase V works at the JCT. Commenting on the…
Profit before Tax – LKR 3,704 Mn up by 30% Profit after Tax – LKR 2,295 Mn up by 21% Overall Statutory Liquid Assets Ratio (SLAR) of 42% Total Capital Adequacy Ratio of 84% Seylan Bank recorded a Profit before Tax (PBT) of LKR 3,704 Mn in Q1 2024, against LKR 1,721 Mn in Q1…
The Sri Lanka Climate Summit 2024, organised by The Ceylon Chamber of Commerce will be inaugurated by President Ranil Wickremesinghe, under the theme Code Red: Climate Risks and Opportunities for Sri Lankan Businesses, on 7th May at the Shangri-La Hotel, Colombo. As the imperative to address climate change grows increasingly urgent against a backdrop of…
Sri Lanka’s largest private sector retail bank, Hatton National Bank PLC appointed Sanjay Wijemanne as the bank’s new Chief Operating Officer (COO) with effect from 26th April 2024, subject to relevant regulatory clearances. A banking industry veteran with more than 29 years of experience, including more than 14 years of corporate management exposure, Wijemanne previously served as HNB’s Deputy General Manager – Retail Banking Group, and brings…
Melco Resorts & Entertainment Limited (“Melco”) is pleased to announce its partnership with John Keells Holdings PLC (“John Keells”), the largest listed conglomerate on the Colombo Stock Exchange, in their US$1 billion plus integrated resort development in central Colombo. As part of the partnership, the integrated resort, which had previously been branded “Cinnamon Life Integrated…
The Financial Stability Board (FSB) Regional Consultative Group for Asia (RCG Asia) met on 29 April 2024 in Colombo1. The discussions were centered around recent financial market developments and vulnerabilities that warranted closer monitoring. Accordingly, the group discussed ways to promote the implementation of FSB regulatory framework for crypto-asset activities across the region and recent…
Business confidence strengthens for a second month but the horizon remains overcast Sri Lanka faces a tight deadline to finalise agreements with creditors including bondholders to coincide with the anticipated disbursement of the third tranche of the IMF’s Extended Fund Facility (EFF). The next instalment of US$ 337 million is scheduled for June, following the…
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