Author: LBO
Aitken Spence begins with strong momentum in Q1 FY 2026/27, as PBT rises 74% to Rs. 1.74 Bn
Aitken Spence PLC, with a portfolio spanning diverse industries and geographies, began the financial year 2026/27 with strong earnings momentum, recording a 74% increase in Group Profit Before Tax (PBT) to Rs. 1.7 billion for the quarter ended June 30, 2026. Profit After Tax (PAT) increased by 158% to Rs. 1.0 billion, while Group EBITDA […]
Hemas Enters East Africa, Strengthening Its International Footprint
Ashish Chandra CEO Hemas Group and Sabrina Esufally, Managing Director Hemas Consumer Brands Acquisition of Kenya’s Twiga Stationers strengthens Consumer Brands portfolio and creates platform for regional growth Hemas Holdings PLC, one of Sri Lanka’s leading diversified conglomerates, announces its entry into East Africa through the acquisition of a majority stake in Twiga Stationers & […]
Vietjet brings its award-recognised brand and signature red uniform to Sri Lanka with new Colombo route
As Vietjet prepares to launch its direct route between Colombo and Ho Chi Minh City on 18 August 2026, the airline is celebrating two recent honours from the 2026 Flyers’ Choice Awards, organised by AirlineRatings: “Favourite Low-Cost Carrier” and “Best Cabin Crew Uniform.” Determined by travellers’ votes, the awards recognise Vietjet’s distinctive brand and cabin […]
Pan Asia Bank Crosses Rs. 350 Bn In Assets; 1H Profit Rises 16%
Pan Asia Bank has surpassed Rs. 350 billion in total assets for the first time in its 31-year history, reporting a strong performance for the first half of 2026. For the six months ended 30 June, the Bank recorded a Profit After Tax of Rs. 2.5 billion, up 16% year-on-year, while Net Interest Income grew […]
ComBank Group takes deposits past Rs. 3 Tn. threshold in 6-month performance
The Commercial Bank of Ceylon Group has reiterated its leadership in financial intermediation, becoming the first private sector banking group in Sri Lanka to cross the Rs. 3 trillion threshold in deposits, a new performance benchmark established in the second quarter of the 2026 financial year. The Group’s deposits grew by Rs. 315.13 billion in […]
Sampath Bank Records Half Year Results with Profit After Tax of Rs 16.6 Bn, Reflecting 13% Year-on-Year Growth
Financial Performance Sampath Bank delivered a strong financial performance for the six months ended 30th June 2026, reporting Total Operating Income of Rs 63.3 Bn, an increase of 17% compared to the corresponding period last year. The Bank’s performance was driven by sustained growth across its core revenue streams, with Net Interest Income increasing by […]
JXG signs agreement to acquire 100% stake in Continental Insurance Lanka Limited
Janashakthi PLC (JXG) has entered into a Share Purchase Agreement with Melstacorp PLC (MELS), the sole shareholder of Continental Insurance Lanka Limited (CILL), to acquire a 100% stake in CILL, subject to the approval of the Insurance Regulatory Commission of Sri Lanka (IRCSL). The transaction will see JXG acquire an initial 81% controlling stake, followed […]
Opinion: Neoliberal policies slowing down Sri Lanka
By Indika Hettiarachchi Key Points: Despite 5.1 percent GDP growth during the first quarter of 2026, IMF predicts Sri Lanka’s GDP growth will remain around 3 percent in 2026 and 2027. Many investors are concerned as to why measures to catalyze post crisis economic recovery are not producing higher economic growth. One of the first […]
Ceylon Chamber of Commerce & Maldives Business Chamber Sign MOU to Expand Bilateral Business Opportunities
The Ceylon Chamber of Commerce and the Maldives Business Chamber have entered into a Memorandum of Understanding (MoU) that will create new opportunities for businesses in Sri Lanka and the Maldives to expand trade, investment, and commercial partnerships. The signing took place in the presence of Hon. Wasantha Samarasinghe, Minister of Trade, Commerce, Food Security […]
Sri Lanka Business Delegation to India: Strengthens Bilateral Trade and Opens New Opportunities for Gem & Jewellery Sector
The Sri Lanka Export Development Board (EDB), with the support of the Sri Lanka High Commission in New Delhi and the Sri Lanka Consulate in Mumbai, is organizing a Sri Lankan Business Delegation to India from 8th to 13th August 2026, with a focus on strengthening bilateral trade and investment relations and expanding opportunities for […]
Ambassador Saman Chandrasiri Presents Credentials to the President of the State of Israel
The newly appointed Ambassador of Sri Lanka to the State of Israel, Saman Chandrasiri, presented his Letter of Credence to H.E. Isaac Herzog, President of the State of Israel, on 3 August 2026 at Beit HaNassi, the President’s Residence in Jerusalem. President Herzog warmly welcomed Ambassador Chandrasiri and wished him success in his assignment in […]
Rosamund Pike visits Sri Lanka as mine clearance reaches one-million milestone
Golden Globe, Emmy, and Olivier Award-winning actor Rosamund Pike, ambassador to the Mines Advisory Group (MAG), is visiting Sri Lanka this week as the country marks the clearance of one million landmines over the past 17 years. Her visit highlights the remarkable progress made by Sri Lanka’s mine-action sector and the importance of maintaining momentum […]