Senior Advisor to the President on National Security and Chief of Staff of the President Sagala Ratnayake recalled that Faris Hadad-Zervos, the World Bank Country Director for Maldives, Nepal and Sri Lanka was amazed with the action policy and the vision of President Ranil Wickremesinghe which was revealed during their meeting recently. The WB Country…
In August 2022, the Government gazetted regulations under the Casino Business (Regulation) Act of 2010 to formalise the process of issuing of licences and monitoring of operations for casinos in Sri Lanka. With the regularising of Gaming, the Group will proceed with finalising arrangements with prospective gaming operators to operate at ‘Cinnamon Life’, said Krishan Balendra Chairperson of John Keells Holdings PLC. Addressing shareholders through 2Q…
The diversified blue-chip Aitken Spence PLC reported a profit before tax of Rs. 8.5 Bn for the six months ended 30th September 2022. This is an exponential quadruple-digit growth compared to Rs. 266.7 Mn recorded for the same period during the previous year. Aitken Spence PLC reached an EBITDA (Earnings inclusive of equity accounted investees before interest…
Jetwing Symphony PLC Chairman Hiran Cooray said the current interest rates are unsustainable and a threat to all businesses in every industry, especially considering the many difficulties of operating businesses during this economic crisis. Addressing the shareholders of the company through 2Q 2022/23 financial report, he further said due to the sudden depreciation of the…
The Republic of Korea through the Food and Agriculture Organization of the United Nations (FAO) is investing USD 1.2 million to strengthen shrimp aquaculture in Sri Lanka. The investment is part of a global project implemented by FAO in Sri Lanka with a total investment of USD 3.9 million. The project will be implemented over…
H.E. Ambassador has assured their continuous support on the debt treatment and stabilizing the economy of Sri Lanka, State Minister said after an official meeting held on Monday (07), with H.E. Ambassador Qi-Zhenhong. “The Ambassador assured their support to overcome this critical situation with regard to the financial status of the country. Further, he emphasized…
By Prof. Samitha Hettige Sri Lankans generally forget but suddenly remembered the long fuel queues which existed few months back in the past few days. Those who drive electric cars couldn’t make new friends at the fuel queues during the shortages. The European Union recently agreed on enacting new laws to systematically reduce and finally…
DIMO, a leading diversified conglomerate in Sri Lanka, is outlining plans to continue to enhance its marine solutions in the Maldives. As the Authorized Service Dealer for MTU, DDC marine engines in both Sri Lanka and the Maldives, DIMO is set to focus more on foreign vessels, super luxury yachts and resort owners through its…
hSenid Business Solutions (hBS) reported yet another favourable earnings result for the period ended 30 September 2022, with strong growth across the key business segments and regional operations. Net profits for the quarter came in at LKR 58.0 million, compared to a profit of LKR 15.3 million in the corresponding quarter of the previous financial…
BPPL Holdings PLC announced its unaudited financial results for the three month period July to September 2022. Net earnings for the quarter were Rs.223 million or Rs. 0.73 per share, up by 75% compared to the corresponding period in the previous year where the net earnings were Rs.127 million. YoY revenue growth was 49% to…
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