Category: Companies
PMI indicate expansions in both manufacturing and services activities in June 2024
Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 56.6 in June 2024, indicating an expansion in manufacturing activities. All the sub-indices, except for employment, remained above the neutral threshold during the month. The expansion in New Orders and Production was mainly due to the growth in the manufacture […]
Ceylon Chamber hosts ADB consultation mission to strengthen agri-food value chains in Sri Lanka
As part of efforts to address the urgent need for reforms in Sri Lanka’s agriculture sector, the Ceylon Chamber hosted a consultation mission from the Asian Development Bank (ADB). The mission aims to prepare an investment project to bolster Sri Lanka’s agribusiness sector through targeted investments, technical support, and policy reforms. The Ceylon Chamber brought […]
‘s Colombo office
Delmege Lifestyle Cluster, a leader in innovative and sustainable interior design solutions, has been awarded the interior fit-out project for LankaPay’s office premises at No.61 Dharmapala Mawatha, Colombo 7. This project will transform the nine-floor office premises into a functional, sophisticated, and modern complex that reflects its brand identity and futuristic digital landscape. Agreement was […]
SL’s IT and BPM sector urges reconsideration of tax measures affecting export services: SLASSCOM
In light of the recent communication regarding the removal of the exception on the export of services, we, the Sri Lanka Association of Software and Services Companies (SLASSCOM), the Federation of Information Technology Industry Sri Lanka (FITIS), the BCS Sri Lanka Section (BCS), and the Computer Society of Sri Lanka (CSSL) share our collective thoughts […]
Sri Lanka urged to tap sustainable bonds for economic and environmental progress: ADB
The Asian Development Bank (ADB) urged Sri Lanka to ramp up its growth efforts while tackling climate change challenges, emphasizing the potential of green bonds to meet the country’s financial needs. ADB Country Director Takafumi Kadono highlighted that public sector funding alone is insufficient for these efforts, making it essential to mobilize private financing through […]
CEAT tyres roll into Brazil, expanding brand’s export footprint
Brazil, the country that gave the world natural rubber, has become the latest export market for CEAT tyres manufactured in Sri Lanka. CEAT Kelani Holdings recently despatched its first export consignment of tyres to Brazil, the second country in South America to join the Company’s international footprint, which covers 16 countries. The commencement of exports […]
Joint Chambers of Commerce Urge Customs Officials to Prioritise National Interests Above Personal Issues
The Joint Chambers of Commerce urge the Customs Officers to call off the ongoing work to rule, and the strike planned for the 4th and 5th of July. The current work to rule action has caused significant delays in clearing import cargo, resulting in supply chain disruption, and delays in production and delivery. The delay […]
SL and Singapore explore strengthening cooperation in maritime, port development and aviation sectors
High Commissioner of Sri Lanka to Singapore Senarath Dissanayake met with Minister for Transport and Second Minister for Finance of Singapore Chee Hong Tat, recently and discussed potential collaboration between the two countries on shared initiatives. During the meeting, High Commissioner Dissanayake provided an overview of the opportunities in Sri Lanka, particularly in the maritime […]
First Capital Holdings announce board appointments
First Capital Holdings PLC, a member of the Janashakthi Group, is pleased to announce key appointments to its Board of Directors, effective June 28, 2024. Veteran banker Rajendra Theagarajah has been appointed as the Chairman. Joining him are Inoshini Perera, Rachini Rajapaksa, and Dilendra Wimalasekere as new members of the Board. The appointment of Rajendra […]
”; Outlook stable
Fitch Ratings has affirmed Sunshine Holdings PLC’s National Long-Term Rating at ‘AA+(lka)’. The Outlook is Stable. Sunshine’s rating reflects its steady business profile, which is anchored by defensive cashflows in its healthcare manufacturing and retail and consumer segments, and its strong balance sheet. This counterbalances weaknesses in its agriculture segment (16% of EBIT) over the […]
Hemas Holdings announces appointment of Ajith Fernando & Supun Weerasinghe as Directors
Hemas Holdings PLC announced the appointment of Ajith Fernando and Supun Weerasinghe as Independent Non-Executive Directors, effective 1st July 2024. Additionally, Ajith Fernando will serve as a member of the Hemas Board’s Nomination and Governance Committee. These strategic appointments underscore Hemas’ commitment to enhancing governance and leveraging deep industry expertise as the Group continues its […]
Administrative penalties imposed by FIU on Financial Institutions from Jan 1st to Apr 30th 2024
By virtue of the powers vested under Section 19(1) read together with section 19(2) of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), financial penalties are imposed on Institutions for non-compliance with the provisions of the FTRA. The penalty may be prescribed taking into consideration the nature and gravity of relevant non-compliance of […]