Financial Year 2023/24 – First Nine Months Performance Chief Executive Officer’s Review Amidst the backdrop of relatively stable operating conditions in the domestic economy, Hemas Holdings PLC (HHL) demonstrated a steady performance in the first nine months of the financial year 2023/24, achieving a cumulative revenue growth of 10.3 percent amounting to Rs. 90.2 billion….
hSenid Business Solutions (hBS) released its financial results for the quarter ending on December 31, 2023, reporting a 23 percent year-over-year increase in revenues. The PeoplesHR Cloud business, constituting 76% recurring revenue, remains the primary driver having recorded a 40% growth year-on-year. The Company achieved a critical milestone in its growth journey by surpassing $3…
The increase in number of youth participation in playing cricket and growing popularity of tournaments and cricket leagues are the factors that are driving the growth of the cricket equipment market. Allied Market Research published a report, titled, “Cricket Equipment Market by Product Type (Bats, Balls, Protective Gears, and Others), Price Point (Economical, Medium, and High), and…
The oneworld® alliance today named airline industry veteran Nathaniel (Nat) Pieper as its new CEO. Pieper, who is currently senior vice president of fleet, finance and alliances at oneworld member Alaska Airlines, will join the alliance in his new role on 01 April 2024. As CEO, Pieper will lead oneworld through its 25th anniversary celebration…
The Central Bank of Sri Lanka introduced restrictions on the usage of the Standing Facilities by the Licensed Commercial Banks (LCBs) under the Open Market Operations (OMOs), with effect from 16 January 2023. Accordingly, access to the Standing Deposit Facility (SDF) was limited to a maximum of five (05) times per calendar month, while access…
State Minister of Primary Industries, Mr. Chamara Sampath Dassanayake, announced plans to unlock significant economic potential from the 5,000 acres of land owned by Sri Lanka Cement Corporation. The initiative aims to generate USD 300 million annually, bolstering the nation’s economy and demonstrating efficient resource utilization. The State Minister also stressed the imperative of leveraging…
Central Bank of Sri Lanka (CBSL) has announced a Special Monetary Policy Board Meeting, scheduled to be held later today (February 07). “The public is hereby informed that this meeting will not lead to a policy interest rate decision”, the CBSL said in its statement. Monetary Policy Board of the Central Bank is charged with…
The daily turnover of the Colombo Stock Exchange exceeded Rs. 11 billion this morning (07). Within the first minute of trading, a significant share transaction occurred in John Keells Holdings plc, resulting in a recorded turnover of Rs. 11.28 billion. Citigroup Global Markets Limited Agency Trading Prop Securities A/C, the 7th largest shareholder of John…
Reuters – Sri Lanka expects to implement a debt restructuring framework within the first six months of 2024, the country’s president said on Wednesday, expressing confidence that the nation was recovering from its worst financial crisis in decades. President Ranil Wickremesinghe, who took over in mid-2022 amid a debilitating financial crisis caused by a severe…
The Sri Lanka-Thailand Business Forum, organised in collaboration with the Embassy of the Kingdom of Thailand in Sri Lanka, the Department of International Trade Promotion, The Ministry of Commerce Thailand, the Ministry of Trade Commerce and Food Security, The Ceylon Chamber of Commerce and the Chamber’s Sri Lanka – Greater Mekong Business Council (SLGMBC), on 3rd February 2024, attracted…
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