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President reshuffles the Cabinet of Ministers
President Gotabaya Rajapaksa today (16) reshuffled the Cabinet of Ministers as follows. G. L. Peiris – Minister of Foreign Affairs Dinesh Gunawardena – Minister of Education Pavithra Wanniarachchi – Minister of Transport Keheliya Rambukwella – Minister of Health Gamini Lokuge – Minister of Power Dullas Alahapperuma – Minister of Mass Media Namal Rajapaksa – Minister […]
Only 10-pct probability for a rate hike at upcoming policy review: First Capital Research
First Capital Research believes that there is a significant probability (90%) to hold policy rates due to the considerable improvement in high-frequency indicators with the fiscal and monetary measures implemented so far. However, there is a 10% probability for a 25bps rate hike to balance external pressure. “As per our view, CBSL either can choose […]
HNB yet again delivers sustainable business performance
Hatton National Bank (HNB PLC) continued to demonstrate resilience amidst volatile conditions, posting a Profit Before Tax (PBT) of Rs 10.9 Bn and a Profit After Tax (PAT) of Rs 9.1 Bn. The Group profits also improved in line, with PBT and PAT at Rs 12 Bn and Rs 9.8 Bn respectively. The loan book […]
Dragonboats come to Jaffna
By Jekhan Aruliah Northwind Projects, a team promoting sporting and other activities in the Northern Province, successfully brought together the Sri Lankan Navy, the Northern Provincial Council’s Ministry of Education, Cultural Affairs, Sport and Youth Affairs and the Jaffna District Fishermen’s Co-operative Society Union’s Federation. They came together to kick-off dragonboat racing, canoeing, and the […]
VIDEO INTERVIEW: Decision Makers in Sri Lanka – Dr. Kishu Gomes
“It does not make any economic sense for the country to send out 200 housemaids to bring back the value taken away by one single CEO and that is exactly what is happening in the country.” Dr. Kishu Gomes, Group Managing Director/CEO – Dreamron Group of Companies This video interview series will feature leaders who […]
VIDEO INTERVIEW: Decision Makers in Sri Lanka – Dr. Kishu Gomes
“It does not make any economic sense for the country to send out 200 housemaids to bring back the value taken away by one single CEO and that is exactly what is happening in the country.” Dr. Kishu Gomes, Group Managing Director/CEO – Dreamron Group of Companies This video interview series will feature leaders who […]
Sampath Bank records PAT of Rs.7Bn for first half of 2021
Financial results of Sampath Bank for the 1st Half of 2021 Sampath Bank posted a profit after tax (PAT) of Rs 7 Bn for the first half of 2021, against Rs 3.9 Bn for the same period in 2020. This significant increase of 78.1% in profit after tax was the result of a 16.7% increase […]
Hemas Group reports operating profit of 1.1Bn delivers strong Q1 performance
Hemas Holdings PLC (HHL) delivered yet another strong quarter amidst challenging operating environment conditions with key businesses gaining momentum in all areas. The Group’s continued focus on growing the Consumer and Healthcare businesses along with operational excellence, contributed to the resilient performance. However, the resurgence of COVID-19 positive cases, and inter provincial and localised limitations […]
‘ National Ratings Constrained by Sovereign Rating: Fitch
The National Ratings on Sri Lankan banks remain constrained by the sovereign credit profile (CCC), Fitch Ratings says. The highest National Rating for domestic banks with ratings driven by their intrinsic credit profiles is ‘AA-(lka)’. This is the highest point on the national scale that corresponds to an international scale rating of ‘CCC’ according to […]
Aitken Spence records stellar performance in 1Q from non-tourism sectors
Aitken Spence PLC made an impressive comeback in the first quarter ending 30th June 2021 by recording a 145% increase in Profit Before Tax (PBT) of Rs. 1.2 billion compared to Rs. 513 million in the previous year from the non-tourism sectors. The Group’s non-tourism sectors recorded a 96% increase in EBITDA (Earnings-inclusive of equity accounted investees, […]