Pan Asia Banking Corporation PLC reflected a steady performance amidst a multitude of adversities emerging from challenging macro-economic conditions as the Bank reported its financial performance for 2023 1H, which showed judicious portfolio management and prudency exercised in dealing with possible fallout on its asset quality from under high interest rate regime. For the six-month period…
On August 6th, Mannar, Sri Lanka, witnessed history as the Hiruras Wind Power Plant of WindForce PLC was inaugurated. Hon. Minister Kanchana Wijesekera, Minister of Power and Energy, led the event, marking a significant stride in Sri Lanka’s renewable energy journey. Notable attendees included Hon. State Minister Indika Anuruddha, Ministry of Power officials, Ceylon Electricity…
The Board of Directors of People’s Bank is delighted to announce the appointment of Mr. Clive Fonseka as the Chief Executive Officer/General Manager (CEO/GM), effective from August 1st, 2023. He has been functioning as the Acting CEO/GM of the bank since 1st January 2023. Mr. Fonseka’s extensive experience and remarkable achievements in the financial industry…
Recently, two garment factories that exported their products only to the American market had to be closed due to the American and Chinese crises. About 2,500 people who were making a living lost their jobs due to this. The value of the machinery of these factories located in the Koggala Investment Processing Zone is hundreds…
Enhancing bilateral relations and leveraging opportunities for investment were among the focus points of a Business Networking event with a multi-sectoral business delegation from India recently hosted by The Ceylon Chamber of Commerce at the Shangri-La Hotel Colombo. The networking event provided an exclusive opportunity for Members of the Ceylon Chamber to meet with the…
In its 20th annual review, Brand Finance, the world’s foremost independent brand valuation consultancy, bestowed the prestigious title of ‘Sri Lanka’s Most Valuable Brand’ upon Dialog Axiata PLC, the country’s premier connectivity provider, for the fifth consecutive year, with a brand value of Rs. 52 billion. Dialog emerged as the strongest brand in Sri Lanka,…
Healthcare, Consumer, and Agribusiness sectors thrive amidst challenges Consolidated revenue of Rs.13.4 billion Healthcare revenue up 8.2% YoY to Rs.6.3 billion Consumer revenue up 20.9% YoY to Rs.4.7 billion Agribusiness revenue increased by 27.3% YoY to Rs.2.4 billion Diversified Sri Lankan conglomerate Sunshine Holdings PLC (CSE: SUN) continued to demonstrate resilience amidst prevailing macro-economic conditions,…
World’s leading apparel certification body commends Sri Lanka’s apparel industry for embracing social compliance and sustainability amidst global challenges Given the economic challenges faced by Sri Lanka and the implementation of new EU sustainability laws, companies are realizing the importance of streamlined compliance processes. Certification processes including Worldwide Responsible Accreditation Production (WRAP) offers sustainable solutions,…
The Food and Agriculture Organization delivered 8,360 metric tonnes of urea fertilizer this week to the Ministry of Agriculture for distribution during the forthcoming Maha cropping season. This has been made possible through generous funding from the government of Japan. The essential fertilizer will be distributed to over 228,000 smallholder paddy farmers across several districts…
The standard of past architecture in this country, which has gifted the world with great designs, should be restored – President Ranil Wickremesinghe. President Ranil Wickremesinghe emphasized that Sri Lanka has demonstrated a strong commitment to addressing climate change goals. Going forward, Sri Lankan architects will play a pivotal role in this endeavour. They will…
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