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Commercial Bank makes strong start to 2017 in all key performance areas

Commercial Bank of Ceylon PLC has made a characteristically robust start to 2017, reporting solid income and profit growth for the three months ending 31st March 2017 and weathering a further reduction in margins and a substantial increase in taxation.   The Bank reported profit of Rs 6.341 billion before VAT and NBT, reflecting growth…

(0)Comments | May 15, 2017 3:27 pm

London Stock Exchange Wins Markets Choice Awards for Best Global Exchange Group

London Stock Exchange Group (LSEG) won the prestigious award for ‘Best Global Exchange Group’ at the fifth annual Markets Choice Awards (MCAs) held in New York on 19 April 2017. Organised by Markets Media and Traders Magazine, the Markets Choice Awards recognise excellence among firms and individuals in financial markets.   Four LSEG businesses were…

(0)Comments | May 15, 2017 2:59 pm

Sampath Bank surpasses Rs 2 Bn mark in post-tax profit within 1Q 2017

Starting the year 2017 in a positive note, Sampath Bank surpassed Rs 2.0 Bn mark to achieve post tax profit of Rs 2.3 Bn for the quarter ended 31st March 2017. This registered an impressive 34.6% growth in comparison to the profit after tax (PAT) of Rs 1.7 Bn recorded for 1Q 2016. Profit before…

(0)Comments | May 15, 2017 1:04 pm

Guangxi, China-Sri Lanka Economic & Trade Cooperation Forum to be held in Colombo

A 70-member high profile delegation, led by His Excellency Peng Qinghua, Secretary, Communist Party of Guangxi Zhuang Autonomous Region will arrive in Colombo this week on the invitation of Mr. Rishad Bathiudeen, Honorable Minister of Industry & Commerce, to attend the Guangxi, China-Sri Lanka Economic & Trade Cooperation Forum. The objective of the visit is…

(0)Comments | May 15, 2017 10:42 am

Novel incentives to encourage investors

The Government has decided to introduce a concessionary scheme to encourage investors in the country, says Finance Minister Ravi Karunanayake. The minister points out that the new scheme will be implemented according to the monetary value of investments, number of employment to be generated through such anticipated investment project and the area it is to…

(0)Comments | May 15, 2017 10:29 am

Workshop on “Fresh Fruits for Export Market”

The Technical Services Division of the Industrial Development Board of Ceylon (IDB) Under Ministry of Industry and commerce has made arrangements to conduct the above one day workshop at head office, IDB for industrialists and other interested groups on 25th May 2017 from 9.00 am – 4.00 pm at Technical Services Division, IDB, 615, Galle…

(0)Comments | May 12, 2017 2:08 pm

IFC to provide up to $50m senior loan to Sri Lanka’s Nations Trust Bank

International Finance Corporation (IFC) has proposed to provide a senior loan of up to $50 million to Sri Lankan mid-sized private commercial bank Nations Trust Bank PLC. The five-year senior loan will be used by the bank to fund its expansion in the SME lending space, IFC said in a disclosure. “The financing provided is…

(0)Comments | May 12, 2017 1:18 pm

Singer Group Revenue increases 13.7% to Rs. 12 Billion

Singer (Sri Lanka) PLC announced today its results for the first quarter of the year ending March 31st 2017.  The results showed a commendable Revenue growth despite sluggish consumer demand resulting from drought affecting the income of about 30% of the agriculture-based households in the country, combined with escalating prices due to devaluation and increase…

(0)Comments | May 12, 2017 12:04 pm

Dialog Posts 5% Revenue Growth in First Quarter, 28% Increase in Tax Remittances

Dialog Axiata PLC announced its consolidated financial results for the three months ended 31st March 2017. Financial results included those of Dialog Axiata PLC (the ‘Company’) and of the Dialog Axiata Group (the ‘Group’). The Group continued its growth momentum across Mobile, Tele-infrastructure and Fixed Line businesses to record a consolidated Revenue of Rs22.2Bn for…

(0)Comments | May 12, 2017 12:01 pm

GSP+ application approved : official notification to be finalized

The Council of Ministers of the European Union (Foreign & Trade Ministers) approved Sri Lanka’s GSP+ application today (11). This completes all three procedural requirements for Sri Lanka to receive GSP plus status. The European Commission and Parliament approved the application earlier. The official notification on the entry into force will be finalized next week.

(0)Comments | May 12, 2017 1:30 am