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ComBank Group remains resilient in volatile first half of 2023
Gross Income improves by 40.29% to Rs 167.668 Bn. Interest income up 71% to Rs 150.8 Bn, but interest expenses surge 139% to Rs 113.3 Bn. Appreciation of Rupee continues to impact loan book, deposits and assets The Commercial Bank of Ceylon Group has reported gross income of Rs 167.668 billion including a growth in […]
”’; on RWN
Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB, A(lka)/Rating Watch Negative (RWN)) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR12 billion an expected National Long-Term Rating of ‘BBB+(EXP)(lka)’ and placed it on RWN.
Sri Lankan Embassy in Moscow Initiates Direct Employment Opportunities for Skilled Migrant Workers in Russia
The Embassy of Sri Lanka in Moscow is pleased to have initiated direct employment opportunities for Sri Lankan skilled migrant workers in the Russian Federation for the first time in the history, in collaboration with the Sri Lanka Foreign Employment Agency (SLFEA), a fully owned state organization in Sri Lanka. Under this initiative, the first […]
CSE successfully concludes invest Sri Lanka investor forum in Chennai
The “Invest Sri Lanka” Investor Forum, which was organized by the Colombo Stock Exchange (CSE) in association with the Confederation of the Indian Industry (CII), was concluded successfully on 9th August 2023 in Chennai, at the Taj Coromandel Hotel. The forum made a strong case for investment flows into Sri Lanka. The forum witnessed a […]
Sujeewa Peiris elected to the CSE Board of Directors
Sujeewa Peiris was elected to the Board of the Colombo Stock Exchange (CSE) with effect from 09th August 2023. He joined Bartleet Group in 1990 and has played a pivotal role in the growth and development of Bartleet Religare Securities (Pvt) Ltd., formerly known as Bartleet Mallory Stockbrokers. Having started his career in stock brokering as a Documentation Officer, Peiris has progressed to become a leading and highly recognized Stockbroker/Investment Advisor licensed by the Securities and Exchange Commission of Sri Lanka […]
Teejay optimistic with capacity expansion despite challenging Q1
Teejay Lanka PLC has begun 2023-24 with a strong balance sheet, closing an extremely challenging first quarter with cash and cash equivalents of Rs 9.6 billion, despite a decline in earnings. Sri Lanka’s first multinational textile manufacturer has reported revenue of Rs 14 billion for the three months ending 30th June, reflecting a reduction of […]
Seylan Bank reports impressive 1H 2023 profitability and strong growth
Seylan Bank, has demonstrated exceptional resilience and growth in challenging market conditions, recording an impressive Profit before Tax (PBT) of LKR 4.2 billion, a 104.65% increase for 1H 2023 compared to the same period in 2022. In addition, the Bank achieved a commendable Profit After Tax (PAT) of LKR 2.6 billion, a 71.29% growth over […]
Sri Lanka Aims for RCEP Membership and Free Trade Agreements with ASEAN: President
President Ranil Wickremesinghe revealed that Sri Lanka’s intention to join the Regional Comprehensive Economic Partnership (RCEP) is poised to materialize following the conclusion of credit optimization initiatives. Additionally, the President announced plans to initiate negotiations for the establishment of free trade agreements with corresponding ASEAN member countries. President Wickremesinghe’s statement underscores the country’s determination to […]
Bridging Conservation and Livelihoods: Addressing the Human-Elephant Conflict in Sri Lanka
By Ruwan Samaraweera Written ahead of World Elephant Day, observed on 12 August 2023. Introduction On World Elephant Day, attention turns to the unique challenges faced by Sri Lanka in the realm of human-elephant conflict (HEC). HEC’s escalating toll paints a stark reality. Human communities endure property damage, crop loss, and tragic fatalities, amplifying poverty […]
13 acres added to conservation forest maintained by Heritance Kandalama
In line with its long-standing commitment to environmental sustainability, Aitken Spence Hotels is proud to announce the expansion of Heritance Kandalama’s biodiversity forest oasis. This significant investment sees an additional 13 acres of land added to the conservation forest area, which now spans 211 acres creating a secure forest bridge within the existing Forest Department […]