Records Commendable financial results for Q2 results which resulted in a turnaround performance for the first half of the financial year Aggressive pricing strategies which contributed towards improving the product margins together with the cost optimization initiatives which were adopted across all segments is said to have enabled the Group to achieve this feat Lankem…
The Sri Lanka Retailers’ Association (SLRA), the apex body of organised retail in Sri Lanka, has raised growing concern about current standing of the local retail sector. If the retail sector collapses completely, it will greatly affect its larger eco system that depends on retail, penetrating deep into the length and breadth of the country….
President Ranil Wickremesinghe in his capacity as the Minister of Finance will present the 2023 budget to Parliament today (14) aimed at creating long-term, stable economic growth. The 2023 budget has given special attention to the sectors of capital market, export market, labour market and digital economy and it is expected to achieve the budget targets…
CFA Society Sri Lanka is part of the worldwide network of CFA Institute member societies that lead the investment profession globally. The Society announced the appointment of Aruna Perera, CFA as its 10th President at the AGM held virtually on Thursday, 10th November 2022. He takes the reins from Dinesh Warusavitharana, CFA. Aruna is a…
Consolidated revenue of Rs. 24.9 billion PAT increased by 28.2% YoY to Rs. 3.2 billion Healthcare revenue up 35.9% YoY to Rs. 11.6 billion Acquisition led growth in Consumer, revenue up 128.4% to Rs. 8.6 billion Agri revenue up 34.4% YoY to Rs. 4.6 billion Recording another quarter of sound financial performance in a challenging…
Total operating income doubles to Rs 100 Bn Impairment for first nine months exceeds Rs 60 Bn Local currency deposits grow by Rs 146 Bn Tier I capital ratio and total capital ratio at 11.31% and 14.36%, respectively Liquidity coverage ratio at 218.5% Hatton National Bank PLC posted a profit before tax of Rs 12.4…
Ambassador Federico Salas Lotfe presented his Letters of Credence to His Excellency Ranil Wickremesinghe, President of the Democratic Socialist Republic of Sri Lanka, at a ceremony held on Friday, November 11th, at the Presidential Secretariat in Colombo. During his work visit to Sri Lanka, Amb. Salas also met Mr. Dinesh Gunawardena, Prime Minister; Mr. Ali…
The Sri Lanka-Philippine Business Council (SLPBC) recently concluded its annual visit to the Philippines to attend the 48th Philippine Business Conference and Expo. Comprised of a 30+ delegation, led by Ravi De Silva, the incumbent president, the SLPBC attended the prestigious event held in October 2022 at the Manila Hotel. A key event at the…
Earlier this year, MAS Holdings created a new venture when it acquired the assets of BAM Knitting (Pvt) Ltd, a leading fabric knitting and finishing operation in Sri Lanka. Following the acquisition, the new venture was recently rebranded as TEXO (Pvt.) Ltd. Launching its new identity at an event held on the 4th of November…
The US$ 400 million+ ITC One Colombo project welcomed the High Commissioner of India to Sri Lanka, H.E. Gopal Baglay at ITC’s iconic project at the Galle Face known as ITC One Colombo. The High Commissioner was apprised of the progress of the development by the project team in the presence of Mr. Nakul Anand,…
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