The government of Australia donated 3 “Explosive Trace Detectors” worth of LKR 18 mn (approx..) to Airport and Aviation Services (Sri Lanka) (Private) Limited on 1st March 2022. The Explosive Trace Detectors were handed over by His Excellency David Holly, High Commissioner Australia, to Major General (Rtd.) G. A. Chandrasiri, Chairman – AASL at the…
Financial commentary for the Year 2021 Profit Before Tax: Rs. 43.2 billion Revenue growth of 17% Net Interest income of Rs. 111.3 billion with 49 % growth Total Assets; achieved another milestone during the year: Rs. 3.8 trillion Over Rs. 2 trillion Deposits and Advances base Overview of the operating environment The, year 2021 was…
Business Sentiment – Confidence Continues to Hold The Central Bank of Sri Lanka’s most recent Purchasing Managers’ Index (PMI) reveals that the nation’s manufacturing sector recovered in January with the index gaining ground from 58.1 in December to 58.7 a month later. However, the ongoing shortage of foreign exchange continues to undermine this recovery, the…
Indian CEO Forum-Sri Lanka (ICF) recently held their 8th AGM at Hotel Taj Samudra The Indian CEO Forum – Sri Lanka (ICF), formed in July 2013, is a registered body with membership constituted by Indian investment in Sri Lanka, Indian Heads of Multinational Companies (MNCs), and Sri Lankan companies. It currently has 61 members contributing…
Auto giant’s supplier hit by ransomware; factories due to restart Wednesday Nikkei (NAGOYA) – Toyota Motor on Tuesday halted operations at all of its plants in Japan after a major supplier was hit by a cyberattack, disrupting the automaker’s parts supply management system. The company is suspending 28 lines at 14 plants. Subsidiaries Hino Motors…
U.S. Ambassador Julie Chung witnessed the signing of Memorandum of Understanding (MOU) between DFCC Bank and the U.S. government’s Agency for International Development (USAID) Private Sector Development project to expand financial services to micro, small and medium enterprises (MSMEs) in Sri Lanka. “The U.S. Government shares DFCC’s belief that lending to MSMEs will increase GDP…
IFC has appointed Lisa Kaestner as the new Country Manager for Sri Lanka and Maldives. Based in Colombo, Kaestner will focus on diversifying and growing IFC’s portfolio while helping strengthen private sector in both countries and promoting inclusive growth. The appointment was announced by IFC’s Vice President for Asia and the Pacific, Alfonso Garcia Mora,…
The Condominium Developers Association of Sri Lanka (CDASL) has made several timely amendments and resolutions to issues faced by the condominium developers over time in order to facilitate and expedite businesses processes for the rapid development of the sector. CDASL being the premier association in Sri Lanka representing the condominium developers has over 35 members…
Central Bank requests the public to provide information on unauthorized foreign currency dealings. Permission to buy, sell and exchange foreign currency in Sri Lanka is granted ONLY to authorized dealers (i.e. licensed banks) and money changers appointed by the Central Bank of Sri Lanka (CBSL). Therefore, foreign currency, shall be purchased, sold or exchanged only…
Deputy Chairman Prof. A. K. W. Jayawardane succeeds retiring Chairman Justice K. Sripavan; senior banker Mr Sharhan Muhseen appointed Deputy Chairman Commercial Bank of Ceylon PLC has announced the appointment of top academic Prof. A. K. W. Jayawardane as Chairman, and accomplished international investment banker Mr Sharhan Muhseen as Deputy Chairman effective Tuesday, 1st March…
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