A formal presentation of the annual dividends from five esteemed institutions under the purview of the State Ministry of Primary Industries took place at the Presidential Secretariat, this morning (10). The ceremony, presided over by President Ranil Wickremesinghe, marked the remittance of a total sum of Rs. 925 million to the Treasury. Accordingly, National Gems…
Reuters – The Industrial and Commercial Bank of China’s (ICBC) U.S. arm was hit by a ransomware attack that disrupted trades in the U.S. Treasury market on Thursday, the latest in a string of victims ransom-demanding hackers have claimed this year. ICBC Financial Services, the U.S. unit of China’s largest commercial lender by assets, said…
The World Bank’s Board of Executive Directors today approved $150 million in financing for Sri Lanka to strengthen the resilience of the financial sector. “Sri Lanka’s economic crisis highlights the need for strong safety nets to support the financial sector. Stable and reliable banking sector is essential for the economy, businesses and individuals, small businesses…
DFC CEO Scott Nathan reiterates the need to support women entrepreneurs, sustainable financing, and micro-, small and medium enterprises (MSMEs). Agreement signed by CEO Nathan strengthens CDB’s status as a responsible corporate citizen. During U.S. International Development Finance Corporation (DFC) CEO Scott Nathan’s trip to Colombo November 7-8, he announced $30 million in DFC financing…
President says addressing the 19th Annual General Meeting of the Sri Lanka Spice Council. President Ranil Wickremesinghe, called for a comprehensive program to revive the country’s spice industry, which was once a major source of income. Speaking at the 19th Annual General Meeting of the Spice Council, he urged them to prepare a proper plan…
Financial Year 2023/24 – First Six Months Performance Chief Executive Officer’s Review Hemas Holdings PLC (HHL) delivered resilient results in the first six months of the financial year 2023/24 to post a cumulative Group revenue of Rs. 59.0 billion, a 13.5 per cent growth over previous year. Amidst the increasing strain on operating expenses,…
“Invest Sri Lanka – Retire Sri Lanka” – an event focused on attracting investment to Sri Lanka was held in Singapore, recently. The event served as the backdrop for the signing of a Memorandum of Understanding (MoU), between Port City Colombo and the Singapore Sri Lanka Business Association. “Invest Sri Lanka – Retire Sri Lanka”…
99x continues to expand its global presence with two new acquisitions in Portugal and Brazil. The acquisitions of Cleverti – Portugal and LeanOn Systems – Brazil were formally concluded by 99X Investment AS, Norway in October. Cleverti is a nearshore software services provider based in Portugal with over 90 dedicated staff members offering the full…
Group: Record half-year profit of AED 10.1 billion (US$ 2.7 billion), up 138% from the same period last year, driven by strong demand for international travel across regions. Revenue up 20% to AED 67.3 billion (US$ 18.3 billion). Emirates: Revenue up 19% to AED 59.5 billion (US$ 16.2 billion), with profit of AED 9.4 billion…
By Manisha Weeraddana In a small roadside hut in Nattandiya, Asoka Malini, a returnee migrant worker, spends her days with a handful of vegetables. She worked for 6 years in Saudi Arabia as a housemaid and a care worker, earning a monthly salary of LKR 20,000. As a mother of two, Asoka now faces an…
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