Teejay Lanka PLC has maintained its positive trajectory in the third quarter of 2023-24, recording noteworthy pre- and post-tax profit growth for the three months ending 31st December 2023 and reversing the losses of the corresponding quarter of the previous year. Sri Lanka’s first multinational textile manufacturer has reported profit before tax of Rs 677.7…
Over 300 oil and gas cargo vessels visited the Hambantota international Port (HIP) in 2023, recording a 132 percent increase in vessel calls compared to 2022. A key reason for this is the port’s bunkering partner Sinopec actively operating in the market, bringing significant value addition to the HIP’s commercial operations. The overall oil &…
Meta CEO Mark Zuckerberg has apologised to families who say their children had been harmed by social media, during a fiery hearing in the US Senate. BBC – Mr Zuckerberg – who runs Instagram and Facebook – turned to them and said “no-one should go through” what they had. He and the bosses of TikTok,…
Summarised below are the key operational and financial highlights of our performance during the quarter under review: During the quarter under review, the Group reported a strong performance with all industry groups recording a growth in profits. Group earnings before interest expense, tax, depreciation and amortisation (EBITDA) at Rs.13.74 billion in the third quarter of…
The President said at the opening of the new building complex of the University of Kelaniya Postgraduate Institute of Pali and Buddhist Studies. President Ranil Wickremesinghe aspired for a golden era of education in the country, demonstrating relentless dedication – Senior Professor Ven. Medavachchiye Dhammajothi Thera. Universities are not restricted areas and should be accessible…
The overall rate of inflation as measured by Colombo Consumer Price Index (CCPI) on year-on-year basis has increased to 6.4% in January 2024 from 4.0% in December 2023, according to the latest data from the Census & Statistics Department (DCS). The CCPI for all items for the month of January 2024 was 200.7 and it records an…
Fitch Ratings – A new directive that Sri Lankan non-life insurers remit 100% of motor insurance strike, riot, civil commotion and terrorism (SRCCT) premiums to state-owned National Insurance Trust Fund Board (NITF, BBB(lka)/Stable) should benefit NITF while the underwriting profitability of non-life insurers is likely to worsen, says Fitch Ratings. However, the effect on non-life…
Two companies from China and India have been pre-qualified for the Request for Proposal (RFP) stage of the divestiture of the majority stake in the state-owned Sri Lanka Telecom PLC (SLT), according to the Sri Lanka’s Finance Ministry. The Government of Sri Lanka (GOSL) acting through the Ministry of Finance, Economic Stabilization and National Policies,…
The Pekoe Trail Profiled Among “Top 20 Travel Destinations for 2024,” According to National Geographic’s Global Editorial Teams National Geographic announced their picks for BEST OF THE WORLD 2024, the brand’s annual guide of the most exciting, meaningful, and one-of-a-kind travel experiences for 2024. The Pekoe Trail, Sri Lanka was selected in the “Top 20…
Attorney-at-Law Rajeev Amarasuriya, Former Secretary of the Bar Association and Accountant, was appointed to the Governing Board of the Central Bank by President Ranil Wickremesinghe upon having received the approval of the Constitutional Council. Rajeev Amarasuriya is the Immediate Past Secretary of the Bar Association of Sri Lanka and has an extensive Appellate Court practice…
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