Pays Rs 12.819 bn. as taxes to Government Impairment charges of Rs 11.3 bn. & DRL of Rs 2.5 bn. reduce profits Total assets top Rs 1.4 Trillion Deposits reach Rs 1.069 Trillion with 7.5% growth – best among peers The Commercial Bank Group ended 2019 with the performance milestone of gross income surpassing Rs…
Discuss market opportunities and investments in joint projects Belluna Co. Japan and Asia Capital PLC, the developers of 447 Luna Tower recently met with His Excellency, Prime Minister Mahinda Rajapaksa in Colombo, for a discussion which was focused on the current Sri Lankan market and economy. The participants engaged in a very positive discussion with…
Urban Revival Project has been inaugurated for providing the housing requirements of the people living in the colonies with the least facilities in the Colombo city. Steps are being taken to obtain US$ 200 million from Asian Infrastructure Facility Investment Bank for this project. Accordingly, the Cabinet of Ministers approved the proposal tabled by the…
The Government of Sri Lanka has decided to award a Rs.35 billion contract to Japan’s Taisei Corporation for the expansion of the Bandaranaike International Airport (BIA). Accordingly, the proposal submitted by the Minister of Tourism and Aviation was approved by the Cabinet of Ministers to award the contract related to the package ‘A’ of step…
SriLankan Airlines will be transformed into a profitable entity in the future that can contribute to the overall development of the country said the Chairman of SriLankan Airlines Ashok Pathirage. This was stated at the COPE committee meeting held on Wednesday (19) under the Chairmanship of MP Sunil Handunneththi at the Parliament Complex. “Our main…
Fitch Ratings has affirmed the National Insurer Financial Strength (IFS) ratings of Sri Lanka-based life insurer HNB Assurance PLC (HNBA) and its fully owned non-life subsidiary, HNB General Insurance Limited (HNBGI) at ‘A(lka)’. The Outlook on the ratings is Positive. KEY RATING DRIVERS The rating and Outlook continue to reflect HNBA’s favourable business profile, improving…
Business tycoon Harry Jayawardena-controlled diversified conglomerate Melstacorp PLC yesterday (20) announced, that it has acquired 100% control of Browns Health Care (Pvt) Ltd from Brown and Company PLC for an estimated Rs. 1.6 billion. Notifying the Colombo Stock Exchange, Melstacorp PLC stated that its fully-owned subsidiary, Melsta Healthcare Colombo Ltd has acquired the entire shareholding of…
SriLankan Airlines, the National Carrier of Sri Lanka and a member of the prestigious oneworld alliance, in the wake of its launch of the brand video ‘Serendipity Next Door’ appealing to its largest foreign market, India, set a record of five million views within 19 hours on social media platforms. This is the first time…
The Monetary Board, with the concurrence of the Hon. Minister of Finance, Economy and Policy Development has appointed Assistant Governor, Mr. K M Mahinda Siriwardana as a Deputy Governor of the Central Bank of Sri Lanka (CBSL) with effect from 12th February 2020. Mr. Siriwardana has a service of more than 28 years in the…
Actions have already been taken to develop the Jaffna International Airport in Palaly and Regional international flights have also begun from Jaffna International Airport. The Government of India has agreed to provide a grant of 300 million Sri Lankan rupees for this purpose. This grant is expected to be used to improve facilities in the…
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