Total operating income rises 22% YoY to Rs 34 Bn Net stage III ratio at 3.8%; one of the best in the industry Tier I and total capital ratios improve to 11.41% and 14.43% respectively Liquidity position remains strong with LAR at nearly 40% Following a turbulent year marred by the country facing its most…
Baur & Co. Ltd, also known as Baurs, one of the country’s leading conglomerates with diversified business interests, recently entered a partnership for the distribution of the multinational pharmaceutical company GSK’s prescription medicines and vaccines in Sri Lanka. During the latter part of last year, GSK announced its intention to wind down its commercial business…
During a recent parliamentary session, Harsha de Silva expressed his support for the new welfare gazette while raising some concerns about certain aspects of the bill. He started by commending the government for changing the term “disabled” to “differently-abled” in the gazette and urged other government institutions to follow suit. De Silva also praised the…
Batik Air (formerly known as Malindo Air) announces that all bookings are open for its new reinstated services between Colombo and Kuala Lumpur. Daily flights to Kuala Lumpur are now in operation. They are offering a special all-inclusive Economy Class Return Fare from Colombo to Kuala Lumpur and from Kuala Lumpur to Colombo at LKR…
SriLankan Airlines would like to clarify that the figure quoted in certain misleading news headlines refers to the financial position of the company as at 31 March 2022. The highlighted loss figure includes a foreign exchange loss of LKR142.6 billion resulting from the revaluation of net foreign currency liabilities due to the sudden depreciation of…
Operating Income of LKR 11.4Bn, up 52% YoY Profit Before Tax LKR 5.8 Bn , up 124% YoY Profit After Tax of LKR 2.8 Bn, up 77% YoY Total Capital Adequacy Ratio of 18.25%, Liquidity Ratio of 41% Nations Trust Bank PLC reported a strong performance in the first 3 months of 2023 posting a…
Veteran Indian film actor Mr. Amitabh Bachchan recently expressed his appreciation for Samahan, a trusted herbal healing drink from Sri Lanka. The drink was featured on Bachchan’s popular television show, Kaun Banega “Crorepati,” which offers cash prizes to participants who answer general knowledge questions correctly. During the show, Bachchan noticed that one of the participants…
Q1 23 Revenue recorded at Rs 50.1Bn, down 2% QoQ and up 31% YoY Q1 23 EBITDA recorded at Rs.13.0Bn, up 30% QoQ and down 12% YoY Q1 23 NPAT Positive at Rs8.7Bn to Record over 100% Growth both YoY and Total Taxes Paid to GoSL Rs12.2Bn which included Rs4.2Bn in Direct and Rs8.0Bn in…
The Food and Agriculture Organization of the United Nations (FAO) initiated a 1.5 million USD project via funding from China as part of the South-South Cooperation (SSC) programme, to improve the quality and value of Sri Lankan fruits in the global market by improving the production and commercialization of fruit value-chains in Sri Lanka. The…
Mukesh Ambani-led Reliance has inked a deal with veteran Sri Lankan cricketer Muttiah Muralitharan’s company Ceylon Beverage International. Mukesh Ambani-led Reliance Industries is working aggressively to establish its dominance in massive soft drink market in India. In order to achieve its goal, Mukesh Ambani has launched the decades-old brand Campa Cola in a new avatar….
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