The shared passion that attracts like-minded organisations to each other was clearly articulated when Emirates, the world’s largest international airline, greeted Dilmah founder Merrill J. Fernando recently, on the occasion of the 90th birthday of the celebrated Sri Lankan entrepreneur and humanitarian. The occasion coincided with Mr Fernando’s 70th anniversary in the tea industry, and…
Top textile manufacturer Teejay Lanka PLC has ended 2019-20 on an encouragingly strong note, despite its projected fourth quarter profit growth being eroded by production shutdowns at all plants in conformity with the lockdowns in Sri Lanka and India necessitated by the COVID-19 pandemic. Sri Lanka’s only multinational textile producer has reported profit before tax…
Sri Lanka Telecom PLC Group released its financial results for the three months ended 31st March 2020. The Total revenue for the quarter recorded Rs.22.1 Bn, which is 3.8% growth compared to the same period in 2019, Rs.21.3 Bn. Stringent measures were taken to manage operational cost and investments in capital expenditure, which resulted in Cost…
President Gotabaya Rajapaksa has requested the banking sector to deviate from conventional thinking and practice to support the country’s striving to rebuild the economy badly hit by the COVID-19 pandemic. ‘The government was able to keep the corona virus under control. The biggest challenge we face right now is to rebuild the collapsed economy. It will…
Mr. Basil Rajapaksa, Special Representative of the President and Head of the Presidential Task Force on Economic Revival and Poverty Eradication, symbolically handed over the first batch of face masks from a production of 200 million face masks for export by Brandix, to U.S. Ambassador to Sri Lanka and Maldives Alaina B. Teplitz. The handover took…
Soaring the skies and connecting continents A moment of pride as SriLankan Airlines aircraft were seen at O. R. Tambo International Airport – Johannesburg – South Africa recently. SriLankan carried 45 tons of cargo from Beijing and Guangzhou in China to South Africa that included 7 million face masks and other much needed medical supplies…
The Colombo Stock Exchange (CSE) closed trading for the day recording a daily turnover of Rs 3.68 billion. The main contributor to this turnover was Commercial Bank, where a total of Rs.2.93 billion worth shares were traded. The All Share Price Index (ASPI) moved up by 26.9 points or 0.60% to close at 4,393.54 whilst the…
Former Pan Asia Banking Corporation (PABC) Chairman and head of Esna Group of Companies Eshana De Silva has been appointed as the new chairman of National Development Bank PLC (NDB). Having built his career in the business world, Mr. de Silva currently serves in the capacity of Chairman of many Companies including the Esna Group…
The Public Utilities Commission of Sri Lanka (PUCSL), Ceylon Electricity Board (CEB) and Lanka Electricity Company Private Limited (LECO) have taken steps to ensure fairness for electricity consumers in issuing monthly electricity bills and allowing a grace period to pay the monthly bills. The guidelines prepared by the PUCSL set forth in this regard will…
Impairment charges for Q1 surge to Rs 6.54 bn. Deposits grew by Rs 51.33 bn. to Rs 1.10 Tn. Advances grew by Rs. 28.74 bn. to Rs. 949.2 bn. Healthy growth in business volumes and an extraordinary contribution from other income, before the slowdown attributed to the COVID-19 pandemic, have enabled the Commercial Bank of…
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