Reuters – New Zealand dairy producer Fonterra Co-operative Group, opens new tab said on Thursday its farmer shareholders have agreed to the NZ$4.22 billion ($2.42 billion) divestment of its global consumer and associated businesses to French dairy major Lactalis. About 88.5% of the total farmer votes were cast in support of the sale after the…
A total of 3,253 Sri Lankans have departed for employment in South Korea during the first ten months of 2025, according to the Sri Lanka Bureau of Foreign Employment (SLBFE). A group of 72 workers, including two women, left for South Korea yesterday (29) to take up positions in the manufacturing sector. These employment opportunities…
The Initial Public Offering (IPO) of Shares of JF Packaging Limited, one of Sri Lanka’s leading and multi-award-winning flexible packaging solutions providers, will open tomorrow, October 30. The Issue will see 51,724,144 Ordinary Voting Shares of JF Packaging Limited offered to the public at an Issue Price of LKR 11.60 per share, with the Company…
Sri Lanka customs recorded a collection of more than 24 billion LKR within a day marking the highest revenue earned in a day in its history starting in 1806 (Ref. SL Customs). Sri Lankan ports from Delft Island to ‘Godawaya’ have been collecting revenue for centuries from international trading with Romans, Persians, Indians, Chinese &…
VFS Global statement VFS Global is a leading outsourcing and technology specialist managing the visa application service and other services on behalf of our client governments. VFS Global is involved exclusively in the administrative and non-judgemental part of the process, working as per stringent SLAs and rules of each individual client government. VFS Global is…
Profit before Income Tax – LKR 12,809 Mn up by 20.75% Profit after Tax – LKR 8,327 Mn up by 26.30% Return on Equity (ROE) of 15.08% Total Capital Adequacy Ratio of 18.34% Impaired Loans (Stage 3) Ratio at 1.48% Seylan Bank recorded a Profit before Income Tax (PBT) of LKR 12,809 Mn in Q3…
The International Monetary Fund (IMF) has projected that Sri Lanka’s economy will grow by 3.1% in 2026. This was stated by Thomas Helbling, Deputy Director of the IMF’s Asia and Pacific Department, during a press conference on the Asia and Pacific Region’s Economic Outlook. Helbling noted that Sri Lanka has experienced a strong economic recovery…
The Government of Sri Lanka and the Government of India have signed a Memorandum of Understanding (MoU) on April 5, 2025, for the implementation of development projects in the Eastern Province under the Indian Multi-Sectoral Grants. Under this agreement, India has committed to provide a grant of Rs. 2,371.83 million to support 33 projects identified…
The corporate leadership of Commercial Bank of Ceylon, led by Mr Sharhan Muhseen, Chairman and Mr Sanath Manatunge, Managing Director/Chief Executive Officer, recently visited the Bank’s operations in Bangladesh and met with Dr Ahsan H. Mansur, Governor of Bangladesh Bank, in Dhaka. Discussions at the meeting centred on the nation’s financial stability and policy direction,…
The Asian Development Bank (ADB) has approved a $100 million financing package to support Sri Lanka’s tourism sector with strategic policy reforms and targeted catalytic investments, which align with the country’s National Tourism Policy. The project will support sector governance improvements; enhance private sector participation and boost tourist arrivals and foreign exchange earnings; and address…
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