Sarvodaya Development Finance (SDF), in its first earnings release since its IPO, announced excellent financial performance for the first 9 months of FY 2021/22, ended 31st December 2021. Compared against the same period in the year prior, the Company recorded a total profit growth of 48% or LKR 118 million, while total income grew 5%…
Teejay Lanka PLC, Sri Lanka’s largest textile manufacturer, has announced that distinguished business leader Mr Ajit Gunewardene is to be appointed Chairman with effect from 17th February 2022, consequent to his appointment as an independent non-executive director of the Company on 1st February. Mr Gunewardene, a former Deputy Chairman of John Keells Holdings (JKH) and…
A consortium of investors put together and managed by private equity firm Tempest PE Partners (a joint venture between Capital Alliance and Insite Holdings), and led by Associated Electricals Corporation Limited, has partnered a management buyout of SLT Campus (Pvt) Ltd which operates the Sri Lanka Technological Campus (“SLTC”), a leading education institute located in…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1, increased to 14.2 per cent in January 2022 from 12.1 per cent in December 2021. Meanwhile, on an annual average basis, the CCPI increased to 6.9 per cent in January 2022 from 6.0 per cent in December 2021….
In another major milestone for Sri Lanka’s premier real-estate developer, John Keells Properties (JKP) celebrated the completion of the structural work for all three towers of its highly anticipated TRI-ZEN smart residences with a special ‘Topping Off’ ceremony. The event was marked with a private ceremony attended by the senior management of John Keells Properties…
SLT-MOBITEL signs agreement with EGUARDIAN and UiPath LLC SLT-MOBITEL, the National ICT Solutions Provider as the driving force for the future of the country’s telecom industry has unveiled the deployment of Robotic Process Automation (RPA) solutions, reinforcing its commitment towards digital transformation and optimizing operations for enterprise customers. To strengthen its customer process automation offering,…
The Ambassador of the EU Delegation in Sri Lanka, H.E. Denis Chaibi together with Chairperson, Sri Lanka Tourism, Ms. Kimarli Fernando, launched the initial stage of the island’s first ever long distance walking trail, with the unveiling of the signage at the trailhead. The Heritage Trails project identifies a collection of destination-based walking trails across…
Aitken Spence PLC the diversified blue-chip organisation recently partnered with the Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka). The premium platinum partnership is aimed at promoting key industries in Sri Lanka to draw German investments. Aitken Spence represents three major German brands namely, TUI, Hapag Lloyd and DB Schenker. Aitken…
Under the Masterplan for Consolidation of Non-Bank Financial Institutions (the Masterplan) being implemented by the Central Bank of Sri Lanka (CBSL), the following 9 companies have already introduced fresh capital of Rs 12.56 billion to meet regulatory capital requirements: Sarvodaya Development Finance PLC, Dialog Finance PLC, Asia Asset Finance PLC, Lanka Credit and Business Finance…
In the latest release of 2021 Q4 data of LankaPropertyWeb’s House Price Index (HPI), which is based on the asking prices of its listings, the overall selling prices of houses had increased by 22.53% and apartments by 17.68% in Q4 2021 when compared to Q4 of 2020, indicating an all-time high price based on the…
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