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Hemas Holdings PLC Appoints Ashish Chandra as Group Chief Executive Officer
Hemas Holdings PLC, announced the appointment of Ashish Chandra as its new Group Chief Executive Officer, effective 1st July 2025. This appointment marks a strategic inflection point for Hemas as the Group sharpens its focus on accelerating growth across larger emerging markets, expansion into adjacencies, and driving technology-led transformation to position the business for sustained success. A seasoned […]
U.S. Embassy Transfers USD 1 Mn in Advanced Nuclear Detection Equipment to Strengthen SL’s Maritime Security
The U.S. Embassy in Sri Lanka has provided state-of-the-art radiation and chemical detection equipment valued at $1 million (299 million LKR) to the Sri Lanka Navy, significantly boosting the country’s capacity to detect and respond to nuclear, radiological, and chemical threats in its maritime domain. This advanced equipment, supplied through the Department of Energy’s National […]
”; Outlook Stable
Fitch Ratings has affirmed the National Long-Term Ratings of Sri Lanka-based conglomerate Melstacorp PLC and its subsidiary, Distilleries Company of Sri Lanka PLC (DIST), at ‘AAA(lka)’. The Outlook is Stable. The ratings on Melstacorp and its stronger subsidiary DIST are based on the consolidated credit profile of Melstacorp, in line with Fitch’s Parent and Subsidiary Linkage […]
Sri Lanka’s Land Market Shows Strong Momentum Amid Growing Demand, Reports LankaPropertyWeb
The Sri Lankan land market is gaining renewed strength, with Colombo and the broader Western Province leading the way in price growth, according to the latest Land Price Index (LPI) published by LankaPropertyWeb (LPW). The 2025 index reveals that land prices in Colombo city (Colombo 1-15) have risen by 7% year-on-year, while the overall Western […]
ComBank ends Q1 as first private sector banking group on cusp of Rs 3 Tn. assets milestone
Loan book grows by Rs 116.75 Bn. in 3 months to Rs 1.642 Tn. Net interest income up 23.53% to Rs 34.21 Bn. Improves provision cover and interest margin alongside balance sheet growth Reports 3-month PBT of Rs 22.56 Bn. and PAT of Rs 14.97 Bn., with taxes amounting to Rs. 11.61 Bn. The […]
Hameedia launches ‘We Create’ – Sri Lanka’s first-ever online tailoring platform
Hameedia, Sri Lanka’s leading menswear brand, recently launched ‘We Create’, the country’s first-ever digital tailoring platform, via www.envoylondontailorstore.com. This innovation reflects Hameedia’s 75-year legacy of craftsmanship combined with modern technology, allowing customers to design personalized garments online. More than just clothing, Hameedia views fashion as the art of crafting identity. The brand has built a […]
NSBM signs loan agreement with BOC to accelerate phase II University development
NSBM Green University has signed a strategic loan agreement with the Bank of Ceylon (BOC) to support the ongoing Phase II development of its Homagama campus in a signing ceremony held on the 8th of May 2025 at the NSBM premises. The agreement was signed by Professor E. A. Weerasinghe, Vice Chancellor of NSBM, together with Professor Chaminda Rathnayake, […]
US-China Tariff De-escalation Does Not Signal Trade Normalisation: Fitch Ratings
The Joint Statement on US-China Economic and Trade Meeting in Geneva published on 12 May appears to be a significant de-escalation of the trade war between the two countries, Fitch Ratings says. But in the absence of a lasting deal, uncertainty over where tariff rates will settle and the impact of those already implemented will […]
Navigating Sri Lanka’s digital future: A conversation with Dr. Hans Wijayasuriya
By Ashanthi Ratnasingham Sri Lanka is entering a defining chapter in its digital journey—one that could reshape how citizens live, work, and connect. As global economies accelerate toward smarter governance, inclusive connectivity, and resilient digital infrastructure, Sri Lanka is laying the groundwork to leapfrog into a digitally empowered future. Leading this transformation is Dr. Hans […]
U.S Effective Tariff Rate Declines to 13% from 23% with Lower China Duty: Fitch Ratings
Fitch Ratings has updated the U.S. Effective Tariff Monitor following the Joint Statement on U.S.-China Economic and Trade Meeting in Geneva, May 12, 2025, that reduces reciprocal tariffs. Fitch estimates that the U.S. effective tariff rate (ETR) is now 13.1%, a notable decline from 22.8% prior to the statement. The 34% reciprocal rate imposed by the U.S. […]