People’s Bank posted a standalone PBT of LKR 16.6 billion for Q1 2026, reflecting resilience amid global uncertainty. Asset quality improved, with Stage 3 ratio down to 7.2% and Stage 3 provision coverage up to 50.0%. Capital and liquidity strengthened via the issuance of an LKR 25.0 billion Tier 2 debenture, lifting CAR to 17.9%…
Reuters – Ferrari presented its first fully electric car on Monday, marking a high-stakes shift by the luxury sports car maker as competitors including Porsche and Lamborghini scale back their EV ambitions, citing weak demand. The four-door Luce, Italian for ‘light’, was developed with the help of former Apple design chief Jony Ive and his collective LoveFrom,…
John Keells Holdings PLC (JKH) reported a strong financial performance for FY2025/26, with Group EBITDA increasing 75% to Rs.80.01 billion, reflecting the contribution of investments made over the past several years and the continued performance of the Group’s established businesses. Group recurring EBITDA increased 71% to Rs.78.05 billion, compared to Rs.45.69 billion in the previous…
The International Monetary Fund (IMF) says Bangladesh has requested a new IMF-supported programme as the country seeks to strengthen macroeconomic and financial stability amid ongoing global economic uncertainties. In a statement, IMF Mission Chief for Bangladesh Ivo Krznar said IMF staff are currently engaged in discussions with the Bangladeshi authorities regarding their reform agenda and…
With disasters and other climate change impacts looming large, Sri Lanka needs strong social and financial protection mechanisms to help communities, businesses, and public institutions prepare and recover, according to discussions at the Lighthouse Event on Climate and Disaster Risk Finance and the Multi-Actor Partnership in Sri Lanka. Convened by SLYCAN Trust on 21 May…
Reuters – Asian shares rose while oil prices remained elevated on Wednesday as markets looked for signals that a shaky truce between the United States and Iran will be extended. Brent crude traded near $100 per barrel, and the greenback held gains from the previous session after Iran said the U.S. had violated a ceasefire….
SLBA says no threat to safety of customer deposits or overall integrity of the financial system Losses being absorbed by the institutions without any impact on public deposits Recent incidents do not reflect systemic weaknesses across the banking industry Nevertheless, banks to carryout in-depth review of operational processes to ensure integrity Sri Lanka’s banking sector…
The SLT Group reported a strong start to 2026, delivering double-digit revenue growth and significantly higher profitability in the first quarter compared to Q1 2025, driven by sustained demand for broadband (internet) services and strong gains in operating profit and net earnings, marking the highest operating profit and net earnings in the Group’s history. Speaking…
Reuters – Brent crude futures rose nearly 2% in early Asian trade on Tuesday after the U.S. military carried out strikes in southern Iran in what it described as defensive actions, keeping markets on edge as a deal to end the war eludes both sides. Brent futures climbed $1.40, or 1.5%, to $97.56 a barrel…
The Monetary Policy Board, at its meeting held yesterday, decided to increase the Overnight Policy Rate (OPR) by 100 bps to 8.75%. The Board arrived at this decision after carefully considering the evolving conditions and outlook on the domestic and global fronts. The uncertainties arising from the heightened tensions in the Middle East have prompted…
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