Net Interest Income soars with impressive 20.98% growth Seylan Bank recorded a Profit After Tax (PAT) of LKR 4.6 Bn for the year ended 31 December 2021 as Net Interest Income (NII) soared with an impressive growth of 20.98% for the period under review compared to 4.64% growth reported in 2020. Despite the extremely challenging…
The Group achieved a record Profit Before Tax of LKR 10.4 billion, for the twelve months ended 31st December 2021 – a growth of 38% compared to the previous year, despite the challenging operating environment experienced during the period. The Group recorded a Profit after tax growth of 65% supported by the decrease in the corporate tax rate. Business Growth The…
Mahindra & Mahindra Ltd. (M&M Ltd.) and Ideal Motors, a fully owned subsidiary of the Ideal Group, today (24) announced the start of deliveries of the new Bolero City Pik-Up in Sri Lanka. With this, Bolero City Pik-Up becomes Mahindras first single cab pick up to be assembled in the country. The vehicle has been…
Sri Lanka’s merchandise exports increased by 13% to US$ 1,062.63 Million in January 2022 compared to January 2021 as per the data released by the Sri Lanka Customs. Further, it is a 5.7% increase when compared to January 2020. EDB Chairman, Suresh D de Mel said, “Exports performance in January 2022 has been remarkable and…
Taking Sri Lanka’s 2500-year history of handloom to the next generation of global designers London College of Fashion, a constituent college of the globally recognised University of the Arts London (UAL) with Selyn, Sri Lanka’s leading and only fair trade handloom manufacturer, has launched a unique collaboration that brings together Sri Lanka’s 2500 year old…
CNBC – Oil prices popped more than 4% on news of the military operation on news that Russia was launching a military attack in Ukraine. U.S. crude futures jumped by 4.73% to trade at $96.46 per barrel. Brent crude futures were up 4.69% at $101.93 per barrel, crossing the $100 level for the first time…
Reports consolidated income of Rs 40.7 billion for 2021 Life Fund grows 12% to Rs 119.6 billon Total assets up 15.2% to Rs 173.7 billion Value of investment portfolio increases by 15.5% to Rs 154.4 billion Ceylinco Life has retained its market leadership in Sri Lanka’s life insurance sector for the 18th consecutive year with…
Group Revenue up 60 % to Rs 7,698 Mn Group PBT up 54% to Rs 2,839 Mn Residential Sales drives Profitability Havelock City Residential Phase 4 Completed Jan- 2021 Havelock City Mall and Office Tower to open mid-2022 Overseas Realty (Ceylon) PLC recorded a steady growth in Revenue and Profitability, primarily driven by the Havelock…
Mr. Bjarke Mikkelsen, CEO and Founder of Daraz, visited Sri Lanka on 14th and 15th February 2022 and held an exclusive meeting with the Sri Lankan Prime Minister, Hon. Mahinda Rajapaksa. The meeting touched upon the growth of e-commerce in Sri Lanka, the increasing digital transition of consumers and sellers, and Daraz’s commitment to harness…
Pioneering its contribution to marketing Sri Lanka as a ‘must-visit’ travel destination over the decades, Cinnamon Hotels & Resorts is making a renewed effort by launching the ‘One Island Thousand Treasures’ destination promotion campaign. This novel campaign will unveil the unknown stories behind Sri Lanka and paint a unique picture of culturally relevant stories just waiting…
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