The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 19 May 2021, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 4.50 per cent and 5.50 per cent, respectively. The Board arrived at…
The Hayleys Group delivered the highest revenue and profit in its 143-year history during FY 2020/21. The revenue increased to Rs 241.28 billion whilst Net Profit stood at Rs. 14.05 billion a 6% on Revenue. Profit attributable to shareholders recorded a healthy growth to Rs. 7.64 billion, compared to Rs. 372.42 million the previous year….
IFS, the global enterprise applications company, announces that Akbar Brothers Pvt.Ltd. Sri Lanka’s largest tea exporter, has chosen to invest in new IFS capabilities to support mission-critical business processes, further increase efficiencies, and help drive future growth. The new IFS enterprise resource management (ERP) capabilities will empower Akbar Brothers Pvt. Ltd. to consolidate its business…
The very first eco-friendly luxury boutique resort in Colombo made its debut when Waters Edge recommenced the construction of the much-anticipated 48-room project. With its intriguing design, smart-tech features and eco-friendly sustainable structure and operational strategy, the resort style establishment is set to become a vibrant business-resort for locals and tourists and a hallmark for…
Hong Kong (CNN Business) – Bitcoin and other cryptocurrencies are plunging as anxiety spreads through the market — this time, after China took more steps to crack down on the digital coins. The world’s most heavily traded cryptocurrency plunged as low as $30,202 per coin from a high of nearly $44,000 in the past 24 hours,…
Enhanced collaboration will see Emirates as a key partner of Huawei’s ecosystem Emirates has announced that it has signed a Memorandum of Understanding (MoU) with Huawei, one of the world’s top tech brands, to further extend its existing partnership. The enhanced collaboration will allow both brands to build awareness to a wider audience in the…
CDS offers Registrar Services for Issues IPOs enabled with E-Applications Virtual AGMs facilitate smooth processes during COVID Pandemic A dedicated unit for Asset Services E-Access and E-Connect to align with SDGs Central Depository Systems (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE) has recently diversified its service offerings. Globally, the…
The Information and Communication Technology Agency (ICTA) has digitised the country’s COVID-19 vaccine roll out, and citizens will be able to register for their vaccines on line starting this week. The digitisation, which will ensure a streamlined delivery of the preventive inoculations, currently being administered by state health services, was put together by the Agency,…
By virtue of the powers vested under Section 19 (1) read together with section 19 (2) of the Financial Transactions Reporting Act, No. 06 of 2006 (FTRA), financial penalties are imposed on Institutions for non-compliance with the provisions of the FTRA. The penalty may be prescribed taking into consideration the nature and gravity of relevant…
The Sri Lankan multinational Haycarb PLC reported revenue of Rs.25.4 billion, profit before tax of Rs. 4.49 billion and profit after tax of Rs. 3.56 billion for the financial year 2020/21. The earnings per share of equity holders of the company was Rs. 10.25 for the year. The Chairman of Haycarb PLC and its parent…
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