Category: Companies
PetDoc wins gold and silver at NBQSA National ICT Awards
PetDoc, the trailblazer in pet health services in Sri Lanka, is thrilled to announce its recent achievements at the NBQSA National ICT Awards 2023. Recognizing PetDoc’s unwavering commitment to excellence, the prestigious Gold Award in the Health and Well-being category and the Silver Award in the Best Startup category have been bestowed upon the organization. […]
CCC Outlook 2024: Anticipated rebound depends crucially on effective debt restructuring
The 9th edition of the annual flagship Outlook Report for 2024 by The Ceylon Chamber of Commerce was recently launched at the Economic Outlook 2024 seminar. Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, delivered the keynote address at the launch event. Compiled by the Economic Intelligence Unit (EIU) of the Ceylon […]
All Island Dairy Association raises alarming concerns about detrimental impact of VAT
The All Island Dairy Association (AIDA) has voiced grave concerns regarding the Sri Lankan government’s proposed increase in the Value Added Tax (VAT) from 15% to 18%, set to take effect on January 1st, 2024. This move, intended to broaden the tax base, could have severe repercussions for the dairy sector, a vital contributor to […]
Hidden Fees in Electronic Card Payments: A Call for Action
Sumedha Amarasinghe, the Deputy Secretary of the Association of Leasing and Debt Instalment Payers, has highlighted a significant issue with electronic card payments in a recent media disclosure. Amarasinghe noted that some institutions deduct an additional 1% to 5% from customers when they pay with an electronic card. This practice is an issue, as customers […]
Hemas Holdings reports revenue growth of 10.3-pct in 2023/24 first nine months performance
Amidst the backdrop of relatively stable operating conditions in the domestic economy, Hemas Holdings PLC (HHL) demonstrated a steady performance in the first nine months of the financial year 2023/24, achieving a cumulative revenue growth of 10.3 percent amounting to Rs. 90.2 billion. Operating profits for the period mirrored the revenue growth, reaching Rs. 8.8 […]
Relaxation of restrictions imposed on standing facilities
The Central Bank of Sri Lanka introduced restrictions on the usage of the Standing Facilities by the Licensed Commercial Banks (LCBs) under the Open Market Operations (OMOs), with effect from 16 January 2023 Accordingly, access to the Standing Deposit Facility (SDF) was limited to a maximum of five (05) times per calendar month, while access […]
”; Outlook Stable
Fitch Ratings has assigned Sri Lanka-based Asia Asset Finance PLC a first-time National Long-Term Rating of ‘A+(lka)’ with a Stable outlook. Asia Asset Finance is a 72.9%-owned subsidiary of India-based Muthoot Finance Ltd (MFL, BB/Stable). Its core business is in gold-backed lending, similar to its parent. Asia Asset Finance has a small market share of […]
SEC Sri Lanka Introduces a Mechanism to Report Social Media Wrongdoings
With the rapid evolution of communication channels and the increase of social media influence in the financial markets, the Securities and Exchange Commission of Sri Lanka (SEC) recognized the need for proactive measures to identify and address potential social media wrongdoings that may impact investors and market stability. Considering these developments, the SEC has taken […]
‘s economic sovereignty
Sri Lanka, facing internal and external challenges, grapples with the aftermath of its external debt crisis, exacerbating existing economic issues. The Easter attacks, COVID-19 pandemic, global conflicts, and economic mismanagement have pushed Sri Lanka back to seeking IMF assistance. Despite government efforts, widespread poverty persists, exacerbated by low-pay and unemployment. The civil society warnings about […]
JKH records strong growth in EBITDA to Rs.13.7 Bn in Q3 2023/24
John Keells Holding says during the quarter under review, the Group reported a strong performance with all industry groups recording a growth in profits with the Group earnings before interest expense, tax, depreciation and amortisation (EBITDA) at 13.74 billion rupees in the third quarter of the financial year 2023/24 which is a 32 percent increase […]
EDEX Expo 2024: Empowering Sri Lankan youth with education, innovation, and sustainability
Dedicated to providing comprehensive insights into a diverse range of opportunities in higher education, training, gainful employment and entrepreneurship for the Sri Lankan youth, the EDEX Expo 2024, the country’s largest, longest running and premier Education Expo will take place from 9th to 11th February at the Sri Lanka Exhibition and Convention Center (SLECC) in […]
PRCA APAC reveals findings on Sri Lanka’s PR industry for 2024 and years to come
The APAC chapter of the Public Relations and Communications Association (PRCA), the world’s largest and influential PR body, together with its board member and communications expert Thanzyl Thajudeen carried out a survey among 31 agency leaders and executives to explore the current and future context of Sri Lanka’s PR industry. This comes as the second […]