Author: lbostgadmin
HNB Group profit after tax increased to Rs.20Bn, up 47-pct YoY
Hatton National Bank PLC (HNB) solidified its position as one of the most sustainable and strongest banks recording a well-rounded performance in 2021. Group Profit After Tax (PAT) increased to Rs 20 Bn, representing a growth of 47% YoY while Bank PAT improved to Rs 17.3 Bn as economic activity picked up during the year. […]
Re-exportation of final 45 containers of waste material
Under the BASEL Convention, it is a direct violation to import waste between two countries, and as a result, under the initiative of the Central Environmental Authority and the Sri Lanka Customs, action has been taken to re-export the remaining 45 containers containing waste material to the UK today, the 21st of February 2022. The […]
European Union, UNDP & UNICEF join hands to launch Justice Reform Programme in Sri Lanka
The Ministry of Justice (MoJ) with funding from the European Union, along with the United Nations Development Programme (UNDP) and the United Nations Children’s Fund (UNICEF) in Sri Lanka have come together to launch the Justice Reform (JURE) Programme. This new flagship initiative, funded by the EU for EUR 18 million (approx. LKR 4 billion) […]
CSE enables local corporates to raise foreign currency denominated capital
The Colombo Stock Exchange (CSE) has enabled local entities incorporated or established in Sri Lanka to issue and list foreign currency denominated shares in the main market segment (Diri Savi and Main Boards) of the CSE. This new financing option for local companies is a result of the new strategic plan the CSE launched in […]
‘s delegation to the UNHRC
The 49th Session of the United Nations Human Rights Council will take place from 28 February to 1 April, 2022 in Geneva. During the Session the UN High Commissioner for Human Rights will present a written update on Sri Lanka to the Council and there will be an Interactive Dialogue on Sri Lanka on 3 March, […]
ADB-ADBI launch innovation and structural transformation database
The new Asian Development Bank (ADB)-Asian Development Bank Institute (ADBI) Innovation and Structural Transformation Database provides a valuable, one-stop platform for analyzing trade-driven growth and economic development in Asia and will be introduced during a launch webinar on 22 February. The database contains a wide variety of trade, supply chain, and capital indicators critical to the innovative growth and […]
Local retail industry: Hardest hit by FOREX crisis calls for solutions
Sri Lanka Retailers Association Retail industry constitutes 23% of the country’s GDP and is hardest hit by the ongoing FOREX crisis The wider eco system of employees, suppliers, farmers and consumers of Sri Lanka impacted by the ongoing crisis and is pushing businesses to the brink of collapse Goods for sale, raw materials and basic […]
‘ in a manner that does not affect public service: President
Establish a Nursing University before the end of May … Promotions with retrospective effect Steps to provide uniform allowance … President Instructs officials “Health care services, including medicine and nursing, are highly valued. Understanding the financial situation in the country take steps to provide approved nurses’ issues in a manner that does not affect the […]
Commercial Credit joins hands with Western Union
Commercial Credit and Finance PLC, one of Sri Lanka’s premier non-bank financial institutions, recently joined hands with MMBL Money Master (brand name of MMBL Money Transfer (Pvt) Ltd), a joint venture between Mercantile Merchant Bank and Aitken Spence PLC, the largest representative in Sri Lanka for Western Union money transfers. This timely partnership will enable […]
‘ Asset Quality Under Pressure as Relief Measures End: Fitch Ratings
Sri Lankan banks are likely to face continued asset-quality pressure in 2022 as rising macroeconomic stresses stemming from the sovereign credit profile pose a threat to borrowers’ repayment capacity, alongside the conclusion of most relief measures in 2021, says Fitch Ratings. Fitch-rated banks’ stage 3 (impaired) loans ratio has remained broadly unchanged since 2019 (9M21: […]
President presents awards for national industry outstanding performers
The National Industrial Excellence Awards Ceremony was held under the patronage of President Gotabaya Rajapaksa at the Waters Edge in Battaramulla, yesterday (15). The outstanding performers received the Platinum Award from the President at the Awards Ceremony for the categories of best small, medium and large scale manufacturing industries and the best machinery manufacturers. At […]
USD 111.5mn raised through direct issuance of SLDBs YTD: Central Bank
Sri Lanka’s Central Bank has raised USD 111.5 million through direct issuance of SLDBs from 01 January to 15 February 2022. The investments in SLDBs during the above period were spread across maturities ranging from 3 months to 5 years, attracting large volume as well as small ticket eligible investors. In collaboration with certain Sri […]