Category: Companies
HEINEKEN signs agreement with Distilleries Company of Sri Lanka
Heineken International B.V. (HEINEKEN) has signed an agreement with Distilleries Company of Sri Lanka PLC (DCSL) today. DCSL is a Public Limited Liability Company and is listed on the Colombo Stock Exchange (CSE). Under this agreement, HEINEKEN will sell all its shares in HEINEKEN Lanka Limited to DCSL and agree to Trademark Licence Agreements for […]
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Fitch Ratings has assigned National Development Bank PLC’s (NDB, A-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR5 billion a final National Long- Term Rating of ‘BBB(lka)’. The final rating is the same as the expected rating assigned on 1 September 2023 and follows the receipt of documents conforming to information […]
Siddhalepa honors Asian Games gold medalist Tharushi
Siddhalepa, a respected name in natural healthcare, took the opportunity to honor and appreciate the outstanding achievements of Tharushi Karunarathna, the young Sri Lankan track and field athlete who made history with her remarkable performance at the 19th Asian Games in Hangzhou, China last month. Tharushi, with her determination and prowess, secured a gold medal, competing […]
Comm Bank Group’s 9-month gross income up 30.88-pct to Rs 256 Bn
A heightened emphasis on lending has seen the Commercial Bank Group increase gross loans and advances by Rs 51.404 billion in the third quarter of 2023 at a monthly average of Rs 17.135 billion, growing its loan book by 4.33% over three months to Rs 1.239 trillion and reversing the trend of the first half […]
”; Outlook Negative
Fitch Ratings has downgraded Sri-Lanka based Hela Apparel Holdings PLC’s National Long-Term Rating to ‘BB+(lka)’, from ‘AA- (lka)’. The Outlook is Negative. The downgrade follows the sharp deterioration in Hela’s financial profile following the apparel manufacturer’s significant adjustment of financial accounts from the interim accounts during its annual audit for the financial year ended March […]
John Keells Holdings PLC interim financial results for 2Q 2023/24
Summarised below are the key operational and financial highlights of our performance during the quarter under review: • During the quarter under review, the Group’s businesses, except for Transportation and Property, recorded growth in profitability. • Group EBITDA at Rs.8.06 billion in the second quarter of 2023/24 is a decrease of 13% against Group EBITDA […]
Ceylon Chamber leads private sector engagement at India – SriLanka biz summit
The Ceylon Chamber of Commerce called for a new economic model focused on export-led investment and tourism, and facilitating the private sector as the engine of growth to build a sustainable business environment, at the recent India-Sri Lanka Business Summit in Colombo. The event brought together key figures, including Dinesh Gunawardena, Prime Minister of the […]
Sri Lanka to host upcoming Asia Pacific Retailers Conference and Exhibition 2024
The Sri Lanka Retailers Association (SLRA), which serves as the foremost organization for organized retail in Sri Lanka, recently played host to the eagerly awaited Federation of Asia- Pacific Retailers Association (FAPRA) Head of Delegations Meeting. This significant event took place at the prestigious Cinnamon Grand Colombo. A pivotal point of discussion during the FAPRA […]
Sri Lanka’s Mobile Network Performance Lags Behind in South Asia: Analysis
In a recent analysis by Opensignal, which examined the mobile network experiences of smartphone users across the six most populated countries in South Asia, Sri Lanka’s performance was found to be lacking compared to its regional counterparts. The study, which included Afghanistan, Bangladesh, India, Nepal, Pakistan, and Sri Lanka, revealed significant disparities across the region. […]
PUCSL electricity tariff revision discriminatory: Advocata
Electricity tariff design must meet two main objectives: firstly, raising the money needed to pay for the costs of provision, and secondly, sending the right economic signals to each customer to favour the optimal socio-economic use of electricity. To achieve the above objectives the principles that must be followed when designing tariffs are; Economic sustainability […]
‘s real estate market trends
In a significant stride towards fostering transparency and informed decision-making within South Asia’s real estate landscape, the Research Intelligence Unit (RIUNIT) unveiled a series of reports during the 8th Islamic Finance Forum of South Asia, held on recently at the Shangri-La hotel in Colombo. These reports provide a holistic view of the real estate markets […]
Opinion: Reforming tax incentive structure in Sri Lanka
The second tranche of the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) was delayed as the country failed to meet some of the program targets including the government revenue target. This prompted the IMF in their latest review to reiterate the need to “strengthen tax administration, remove tax exemptions, and actively eliminate tax evasion” […]