Group: Record half-year profit of AED 4.2 billion (US$ 1.2 billion) reflects strong turnaround and recovery after last year’s loss of AED 5.7 billion (US$ 1.6 billion). Revenue up 128% to AED 56.3 billion (US$ 15.3 billion). Emirates: Revenue up 131% to AED 50.1 billion (US$ 13.7 billion), and profit of AED 4.0 billion (US$…
World Bank Group President David Malpass met with President Ranil Wickremesinghe on Tuesday (08) in Sharm el-Sheikh, Egypt on the sidelines of the COP 27 climate change conference. President Malpass and President Wickremesinghe discussed the challenging macroeconomic and social situation in Sri Lanka and the urgent need to stabilize the economy. President Malpass emphasized the…
It was decided to appoint a special committee consisting four members to further study and make recommendations regarding the establishment of three Standing Committees to be established. This was decided at the Committee on Parliamentary Business held Wednesday (Nov. 08). Accordingly, the Committee on Banking and Financial Services, the Committee on Ways and Means, the…
President Ranil Wickremesinghe held discussions on debt management with the Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva, Finance Minister of Ghana Ken Ofori-Atta and Speaker of the People’s Majlis of the Maldives Mohamed Nasheed on the sidelines of COP27. Senior Advisor to the President on Climate Change Mr. Ruwan Wijewardene also participated…
Opportunities for sustainable finance and an in-depth look at sustainable finance instruments Sri Lanka can unlock, will be among the focus areas explored under the session theme of Opportunities for Sustainable Finance in the Economic Reset at the Sri Lanka Economic Summit 2022 organised by the Ceylon Chamber of Commerce, on December 6th. Leveraging the…
TRI-ZEN completion scheduled for end 2023 Project construction currently in penultimate phase TRI-ZEN 74% sold Structural work on all three towers complete TRI-ZEN, the smart residences by John Keells Properties, located at coveted Union Place, Colombo 2, announced the accelerated flow of MEP and finishing work across all three [03] towers even amidst the challenging…
EY Sri Lanka, is scheduled to host a Sri Lanka Banking Conference titled ‘Surfing Through the Crisis’, on the 14th of November 2022, at Galle Face Hotel from 8.30 a.m. onwards. The event is designed to create value for Sri Lanka’s financial sector amidst the prevailing economic crisis. As the largest service providers to the…
Business Insider – The Adani Group will become the first Indian port operator in Sri Lanka as construction of the Colombo Port’s Western Container Terminal (WCT) is set to start on Wednesday. The group will have the majority stake in the West Container International Terminal Joint Venture (JV) which is valued at $700 million. The build-operate-transfer (BOT) agreement which…
The Environment The construction industry continued to contract with cement demand halving against the same quarter of the previous year. This downward trend is a culmination of factors including currency depreciation, economic and political instability, reduced availability, and affordability of constructure materials and labour, and spiking interest rates, all of which disincentivized the commencement of…
Financial Year 2022/23 – First Six Months Performance Chief Executive Officer’s Review Amidst the macroeconomic headwinds, Hemas Holdings delivered a robust performance for the first six months through value creating relationships and execution of prudent strategies, to post a cumulative Group revenue of Rs. 52.0 billion, a growth of 43.4 per cent over last…
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