Harnesses strength from versatile business strategy and investments in digital drive Total operating income up by 38% to LKR 43 Bn Impairment charges of LKR 29 Bn reflecting macro-economic stresses Continually enhanced cost to income ratio of 27% Twin affirmations as Best Bank in Sri Lanka 2022 by Global Finance USA and Euromoney National Development…
The Speaker Hon. Mahinda Yapa Abeywardana informed the House Tuesday (Feb. 21) that Members have been nominated by the Committee of Selection to serve in the Committee on Banking and Financial Services. Members have been appointed in terms of the provisions of Standing Order 122 of the Parliament and the motion agreed to by Parliament…
The Colombo Stock Exchange (CSE) announces the amendment of Trading Rules on the Over the Counter (OTC) Platform, where Repurchase (REPO) transactions in Corporate Debt Securities would be permitted between two (2) eligible investors operating through the same Trading Participant. The amended rules have been approved by the Securities and Exchange Commission of Sri Lanka…
According to President Ranil Wickremesinghe, the current tax policy in Sri Lanka is not a normal tax policy, but rather a rescue operation. He warned that if this process is disrupted, Sri Lanka will not be able to join the International Monetary Fund (IMF) program and may lose the opportunity to do business with foreign…
BENGALURU, India, Feb 21 (Reuters) – G20 finance ministers and central bank governors will discuss debt troubles in developing economies, crypto currencies and global inflationary pressures at a meeting later this week, Indian officials said on Tuesday. The Feb. 22-25 meeting in the Nandi Hills summer retreat near Bengaluru is the first major event of…
Targets emerging opportunities in Middle-East, Africa, South America, Asia and Oceania Invests in expanded manufacturing capacity, new product lines Global integrated rubber glove manufacturer, Dipped Products PLC (DPL), is taking aim at lucrative emerging opportunities in new export markets, and high-value niche product segments, as part of an ‘innovation-led’ growth agenda spearheaded by new Managing…
JAAF is perplexed by PUCSL overlooking the industry’s submissions and cautions. Current tariff increase based on speculative increasing demand, despite trends showcasing reduced demand The Public Utilities Commission (PUCSL) granted approval to a 66% electricity tariff hike effective 15th February 2023, resulting in exponential increases in costs in the apparel industry, which in turn threatens…
The Securities and Exchange Commission of Sri Lanka (SEC) is pleased to announce that Mr. Faizal Salieh assumed duties as the Chairman of the SEC on 20th February 2023. Mr. Salieh is currently the Chairman of the Sri Lanka Institute of Directors, which is committed to empowering Directors from both the private and public sectors…
Total operating income more than doubled to Rs 138 Bn Absorbs over Rs 90Bn in impairment Stellar growth of over 30% in deposits Stage 3 loan ratios of 3.4%; one of the best in the industry Strong liquidity with LAR and LCR well above statutory requirement Adjudged the Best Corporate Citizen in Sri Lanka 2022…
Continues to contribute positively to Sri Lanka amidst unprecedented challenges The Board of Directors of Nestlé Lanka today, 20 February 2023, approved results for the fourth quarter and full year ended 31 December 2022. Sharing his thoughts on the results, Mr. Jason Avanceña, Managing Director of Nestlé Lanka said “It gives me immense pride to…
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