Category: Companies
Mahindra Ideal Finance appoints Mufaddal Choonia as MD and CEO
Mahindra Ideal Finance Limited (MIFL), a subsidiary of Mahindra Finance has announced the appointment of Mufaddal Choonia as its new Managing Director & CEO with immediate effect. Mufaddal will succeed Duminda Weerasekare, who retired as MIFL’s CEO. In his new role, Mufaddal will focus on building a robust digital lending ecosystem, especially benefitting SME and […]
Sunshine Healthcare Lanka attracts USD 10Mn FDI from IFC
Sunshine Healthcare Lanka Limited (SHL), the healthcare arm of diversified conglomerate Sunshine Holdings PLC (CSE: SUN), announced the successful conclusion of the approximately LKR 3,270 million equity investment from the International Finance Corporation (IFC), a member of the World Bank Group. This landmark investment strengthens SHL’s vision to expand healthcare accessibility and bolster innovation across […]
Fonterra unveils its revised strategy, emphasizing stronger focus on Ingredients & Foodservice businesses
Fonterra Co-operative Group Ltd has released its revised strategy, which will see the Co-op deepen its focus on its high-performing Ingredients and Foodservice businesses to grow value for farmer shareholders and unit holders. This follows a strategic review that confirmed the Co-op’s strengths as a B2B dairy nutrition provider, resulting in Fonterra’s decision to explore […]
EnerGulf: Leading the charge in sustainable energy
The solar energy landscape is evolving, driven by technological advancements, increasing environmental concerns, and the urgent need for sustainable energy solutions. As the sector continues to expand, the role of strong, visionary leadership becomes paramount in guiding companies towards success. Effective leadership is essential for navigating complex challenges, fostering innovation, and ensuring the successful implementation […]
Women’s Chamber of Industry and Commerce holds 39th AGM
The Women’s Chamber of Industry and Commerce (WCIC) held its Annual General Meeting (AGM), marking a pivotal moment in the organization’s 39-year journey. Established in 1985 as the world’s first chamber dedicated to empowering women, WCIC remains committed to fostering female entrepreneurship, leadership, and professional development across Sri Lanka. This year’s AGM, led by Chairperson […]
SL Purchasing Managers’ Index for construction industry expands at slower pace in Aug 2024
Sri Lanka Purchasing Managers’ Index for Construction (PMI -Construction) expanded at a slower pace in August 2024 over the significantly higher level reached in the previous month, recording an index value of 51.4. Further, most of the other indices were also around the neutral threshold, indicating that the operations of the construction industry broadly remained […]
Sri Lanka’s August 2024 Merchandise Exports Rise by 4.2-pct to USD 1.2 Bn
As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in August 2024 amounted to US$ 1,165.4 million, recorded an increase of 4.18 % compared to the month of August 2023. This was mainly due to the increase in earnings from export of Apparel & Textiles, Tea, Rubber based products, […]
Navigating new EU sustainability and labelling requirements: Challenges and opportunities
By Joint Apparel Association Forum (JAAF) The European Union (EU), with its vast market of over 448 million consumers, has always been a key destination for Sri Lankan apparel exports. Known for its high-quality and ethically produced garments, Sri Lanka has secured a strong foothold in this competitive space. However, new sustainability and labelling requirements […]
Planters’ Association of Ceylon welcomes new President : Calls for collaborative efforts to transform sector
The Planters’ Association of Ceylon (PA) congratulates NPP leader Anura Kumara Dissanayake on his election as the 9 th Executive President of Sri Lanka and called for renewed collaboration to secure sustainable growth and livelihood empowerment within the plantation sector. The Association called on President Dissanayake to initiate a transformative era for the plantation industry […]
JAAF congratulates new President Anura Kumara Dissanayake
The Joint Apparel Association Forum (JAAF), Sri Lanka’s apex body for the textile and apparel industry, warmly congratulates NPP leader Anura Kumara Dissanayake on being elected as the new President of Sri Lanka. As the country enters a new phase of leadership, JAAF highlights the immense importance of the apparel sector, a key driver of […]
CBL Global Foods and USAID join forces to transform Sri Lanka’s coconut industry
CBL Global Foods Limited (CBL GFL), a key player in Sri Lanka’s agribusiness sector and a subsidiary of the CBL Group – one of the largest food conglomerates, has partnered with the United States Agency for International Development (USAID) to enhance the coconut industry through an initiative aimed at boosting productivity and market access for […]
Digital Mobility Solutions Lanka IPO Oversubscribed on Opening Day
The Initial Public Offering (IPO) of Digital Mobility Solutions Lanka Limited, through an offer for sale of 43,474,179 ordinary voting shares at a price of Rs. 36 per share, opened yesterday (13th September 2024) and was oversubscribed on the initial day itself. The IPO by Digital Mobility Solutions Lanka Limited attracted applications surpassing the offer […]