Adani Energy Solutions Limited (AESL) through its wholly owned subsidiary Adani Transmission Step-Two Limited (ATSTL) acquired a 100% stake in Essar Transco Adani Energy Solutions Ltd (AESL), one of the largest private transmission and distribution company in South Asia with a growing smart metering portfolio, has acquired 100% stake in Essar Transco Limited after obtaining…
The brand licensing division of Hela Apparel Holdings PLC, Focus Brands, has announced a strategic partnership with Tesco to introduce its Peter Werth and Fenchurch fashion brands to the retailer’s stores across the UK. The collaboration further enhances the Hela Group’s long-standing relationship with one of the UK’s largest retailers and will provide consumers with the opportunity to purchase two of its owned…
IFC endorses move to support Nepal’s startup ecosystem PickMe has crossed digital borders and will take the ride hailing market by storm with the launch of their latest technology partnership, JumJum (Let’s Go) in Nepal, a country where 78% of 3.22 million vehicles registered are motorcycles. Named as the Motorcycle city, Kathmandu Valley claims to…
Financial Performance Sampath Bank posted a profit before tax (PBT) of Rs 6.2 billion and a profit after tax (PAT) of Rs 3.4 billion for the three months ended 31st March 2024, notwithstanding an exchange loss of Rs 4.3 billion due to the appreciation of the LKR against the USD by Rs 23.70. These figures…
Net stage III ratio at 4%; one of the best in the industry Over Rs 6.5 Bn in taxes Tier I and total capital ratios improve further to 14.45% and 18.05% respectively Liquidity position remains strong with LAR and LCR well above regulatory minimum Hatton National Bank PLC (HNB) recorded a Profit Before Tax (PBT)…
A prominent delegation of 30 members of China National Garment Association (CNGA), led by Executive Vice President of XIE QING and Ningbo Garment Association Vice president and Secretary General MAO YIHUA met the Chairman/ CEO, EDB, Executive Director, BOI, and members of JAAF on the 9th of May 2024. The CNGA is a leading industry…
Acquisition by Lavendish Leisure marks group’s second hotel purchase in the UK The Grade-II listed Cathedral Quarter Hotel in Derby has been sold to new owners by The Finesse Collection who transformed the property into a hotel in 2008. The hotel has been acquired by Rashmi Dedigama and Peter Karan of Lavendish Leisure, a subsidiary…
Breaking Barriers: A Fresh Legislative Initiative Fosters Collaboration Among Agricultural Agencies. Streamlining Plantation Practices: Introduction of Innovative Technical Management. Cabinet Endorses Draft Laws Paving the Way for Agricultural Export Economy- Says President. President Ranil Wickremesinghe outlined his commitment to propel the nation’s economic progress by spearheading a shift from the traditional plantation Industries to a…
Operating Income of LKR 11.9Bn up 3% YoY Stage 3 loan ratio reduced to 2.1% Profit After Tax of LKR 3.7Bn, up 35% YoY Total Capital Adequacy Ratio of 18.7% Liquidity Ratio of 45% Nations Trust Bank PLC reported a strong performance in the first 3 months of 2024, posting a Profit Before Tax (PBT)…
Loan book grows by Rs 20 bn. in 3 months, amidst FX impacts CASA ratio improves to 40.51%, positively supporting NII Net interest income up 45.97% to Rs 27.7 bn. Total taxes increase by over 150% to Rs 8.6 bn. The Commercial Bank of Ceylon Group has ended the first quarter of 2024 with a…
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