Janashakthi Life, one of the leading life insurance companies in Sri Lanka, has recorded remarkable growth in profitability for the financial year 2023. Marked by a record profit before tax of LKR 5.2 billion, along with a resounding growth of 201% in profit after tax compared to 2022. This achievement is the highest in the…
The SLASSCOM Women in Tech Conference 2.0, held in collaboration with the International Finance Corporation (IFC) and the Government of Japan, was a landmark event in promoting gender equality in the IT & BPM sector. As the first-ever women in tech conference, held for the 2nd Consecutive year in Sri Lanka, it convened industry leaders,…
The State-Owned Enterprise Restructuring Unit (SRU) of the Finance Ministry has officially released the names of the local and foreign firms that have submitted responses to the respective requests for quote and the shortlisted bidders for the divestiture of shares held by the Government of Sri Lanka in several key state-owned enterprises (SOEs). Issuing a…
Aitken Spence Hotels has once again ranked among the top companies in LMD’s Most Awarded Hall of Fame, solidifying its position as one of the most distinguished entities in Sri Lanka. Garnering an impressive tally of 52 awards throughout 2023, the Company secured the first place in hospitality sector and fourth place among the nation’s…
HVA Foods PLC, a member of the George Steuart Group, is pleased to announce the following appointments to its Board of Directors. Accordingly, Graham Stork has taken up duties as Director and Chief Executive Officer, while Samantha Ranatunga has taken up duties as Independent Non-Executive Director & Chairman. Heladiv is HVA Foods PLC’s globally renowned…
Combined Strengths to deliver superior experience to customers and improve returns to shareholders. Dialog Axiata PLC (“Dialog”), Axiata Group Berhad (“Axiata”) and Bharti Airtel Limited (“Bharti Airtel”) (collectively “the Parties”), signed a Definitive Agreement to combine their operations in Sri Lanka. Under this agreement, Dialog will acquire 100% of the issued shares in Airtel Lanka,…
Hunas Holdings PLC, a leading player in the investment and hospitality sector, recently announced a strategic partnership with BCC Corporation Japan, a renowned innovator in technology, hospitality and real estate solutions. Together, they are introducing a groundbreaking advancement poised to transform the way hotel accommodations are booked and managed. The collaboration introduces an innovative platform,…
Reuters – The International Monetary Fund (IMF) stands ready to support Sri Lanka’s discussions with international bondholders and will provide a formal assessment after the parties reach a tentative agreement-in-principle, an IMF spokesperson said on Thursday. “We hope an agreement consistent with the parameters of the IMF-supported program and official creditors’ Comparability of Treatment requirements…
Sri Lanka Insurance Life Records a Rs. 21 billion GWP and Sri Lanka Insurance General records a 23.1 billion GWP An exceptional payout totaling Rs. 27.6 billion for Claims and Maturity, averaging Rs. 2.3 billion per month Sri Lanka Insurance Life Limited and Sri Lanka Insurance General Limited well poised to embark on a new…
Bloomberg – Sri Lanka may reach a deal with investors to restructure its $12 billion in defaulted global bonds by mid-May, according to strategists at Standard Chartered. The South Asian nation has been hoping to reach a deal in the next few weeks, though the first round of direct talks with dollar bondholders failed to…
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