Reuters – Chinese oil major Sinopec expects to start operations in Sri Lanka on Sept. 20 and will be allowed to sell fuel for less than the maximum retail price set by the government, Sri Lanka’s power minister said on Tuesday. Sinopec’s entry into Sri Lanka will help reduce pressure on Sri Lanka’s foreign exchange…
By Securities and Exchange Commission of Sri Lanka (SEC) Islamic Capital Market Products (ICMP) are securities which are developed in compliance with Islamic Law, and ICMPs play an important role in the development of the Capital Market and the economy as it opens up opportunities for investment and fund raising. Many countries have introduced different…
An inter-city express train service between Thalaimannar and Colombo will initiate in September. Steps to start a sugar factory in Vavuniya. During his presence at the annual festival of the National Shrine of Our Lady of Madhu in Mannar today (15), President Ranil Wickremesinghe announced plans to transform Mannar into an energy hub. He also…
Reuters – Sri Lanka on Tuesday lifted a ban on imports of trucks and other heavy vehicles for the first time since March 2020, according to a gazette notification. Sri Lanka has been gradually easing import restrictions, which were imposed as the country’s economy tottered from a financial crisis caused by a severe shortage of…
The shares of UB Finance Company Limited (CODE: UBF-N-0000) commenced trading on the Colombo Stock Exchange (CSE) on 14th August 2023. The shares have been listed on the Diri Savi Board of the CSE, under the “Consumer Finance Services” sector. The occasion was marked with a special Bell Ringing Ceremony. A total of 38.2 million shares from 1628 transactions were recorded on the opening day…
A special program to ensure the safety of tourists – Minister of Tourism & Lands Harin Fernando Minister of Tourism & Lands Harin Fernando stated that a Policy for Tourism that does not change when the Government or the politicians are changed to be urgently presented to the county. The minister mentioned that the policy,…
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 11th August 2023 in Mumbai, at the Taj Lands End Hotel. The forum made a strong case for investment flows into Sri Lanka and witnessed a…
Total operating income up by 61% to LKR 20.6 Bn DFCC Group records PAT of LKR 3.9 Bn and PBT of LKR 5.9 Bn Impairment charges of LKR 8.1 Bn reflective of present economic stresses DFCC Bank continued its commitment to serving customers across the country, delivering high-quality customer centric banking services, despite the volatile…
Net operating income of Rs. 10.7 Bn, a YoY increase of 27% Operating costs increase stemmed at 13% with costs linked to high inflation Gradual reduction in impairment charges Prudent balance sheet management in response to external operating environment Sound liquidity and capital maintained throughout the year National Development Bank PLC demonstrated resilience in its…
As a responsible corporate citizen and a premier private sector bank in Sri Lanka, Sampath Bank has once again showcased its unwavering commitment to supporting the Sri Lankan economy and its people throughout the past four to five years. Despite facing significant challenges, including the aftermath of the Easter attack, the COVID-19 pandemic, foreign currency…
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