State Minister of Investment Promotion Dilum Amunugama recently launched the Ministry of Investment Promotion website. During the official launch, the Minister pointed out that” The task at our hand is more challenging and novel, the fundamentals are changing of FDI attraction, need new thinking and new communication approach, hence we need to relook at what…
hSenid Business Solutions (hBS) reported its results for the period ended 30 June 2023, with revenues up 16.3 percent year-over-year. Topline growth was supported by its core PeoplesHR Cloud offering. Recurring revenues accounted for 52.0 percent, driven by PeoplesHR Cloud. Region-wise, APAC and Sri Lanka contributed strongly to topline growth. Company earnings, however, were impacted…
The Sri Lanka – France Business Council of The Ceylon Chamber of Commerce recently conducted its 19th Annual General Meeting, followed by a reception hosted by the Ambassador of France His Excellency Jean-François Pactet . Speaking at the AGM, Ambassador Pactet presented the economic relations between the two countries, highlighting that France assisted with establishing…
DIMO, a leading diversified conglomerate and the sole Authorized General Distributor for Mercedes-Benz in Sri Lanka has unveiled an exciting leap towards sustainable mobility with the introduction of the all-electric Mercedes-Benz EQ range to the local market. The all-electric Mercedes-Benz EQ Range offered by DIMO includes the impressive line-up of Mercedes-Benz EQA, EQB, EQE, EQE…
While SLT PLC had 2.4% (Rs.400mn) revenue growth, Mobitel recorded 9.3% (Rs.1,066mn) de-growth during Q2’23 compared to Q2’22. Group revenue therefor decreased by 2.8% (Rs.763mn) Q2’22 to Q2’23. SLT PLC revenue increase was driven by growth in Broadband, IPTV, and Enterprise revenue streams. However, such increase was slowed down due to decrease in International Transit…
Bank PAT improves to Rs 8.6Bn Impairment charge of Rs 28 Bn in 1H Deposits grow by nearly Rs 70 Bn in 6 months Tier I and total capital ratios improve to 12.48% and 15.58% respectively Hatton National Bank PLC continued its steady performance in Q2 2023, posting a 1H 2023 PBT of Rs 13.6…
Operating Income LKR 22.4 Bn, up 35% YoY Profit Before Taxes LKR 12.6 Bn and Profit After Taxes LKR 6.1 Bn Tax expenses LKR 6.5 Bn in 1H2023, up 239% YoY Total Capital Adequacy Ratio 17.17%, Liquidity Ratio 39.7% Nations Trust Bank PLC reported a strong performance in 1H2023 posting a Profit Before Taxes (PBT)…
During a recent discussion held at the Presidential Secretariat to address issues within the gem and jewellery industry, President Ranil Wickremesinghe urged officials to swiftly provide comprehensive plans for achieving the country’s objective of bolstering annual export earnings through enhancements in gem and jewellery exports and re-exports. Within this discourse, the President highlighted the importance…
Gross Income improves by 40.29% to Rs 167.668 Bn. Interest income up 71% to Rs 150.8 Bn, but interest expenses surge 139% to Rs 113.3 Bn. Appreciation of Rupee continues to impact loan book, deposits and assets The Commercial Bank of Ceylon Group has reported gross income of Rs 167.668 billion including a growth in…
The “Invest Sri Lanka” Investor Forum, which was organized by the Colombo Stock Exchange (CSE) in association with the Confederation of the Indian Industry (CII), was concluded successfully on 9th August 2023 in Chennai, at the Taj Coromandel Hotel. The forum made a strong case for investment flows into Sri Lanka. The forum witnessed a…
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