Category: Industry
SriLankan Airlines relaunches flights to Jeddah
SriLankan Airlines has relaunched direct flights from Colombo to Jeddah with a thrice weekly service every Tuesday, Wednesday and Sunday. SriLankan Airlines is currently the only carrier to offer a non-stop flight schedule between the two cities, opening a convenient gateway to the holy cities of Makkah and Madinah for Umrah pilgrims in Sri Lanka […]
Dipped Products sets standard for sustainable growth: Launches ESG roadmap ‘DPL Pulse’
Export manufacturer of hand protection solutions and member of the Hayleys Group, Dipped Products PLC (DPL), announced the launch of its new ESG roadmap ‘DPL Pulse’. ‘DPL Pulse’ builds on the environmental and social consciousness already rooted within the organisation and aligns with the Hayleys Group’s long-term sustainability aspirations as outlined in the Hayleys Lifecode. […]
Sampath Bank reports profit before tax of Rs 13.2 Bn
Financial Highlights During the first half of 2023, Sampath Bank reported robust financial performance, with a profit before tax (PBT) of Rs 13.2 Bn and a profit after tax (PAT) of Rs 7.7 Bn, representing growth of 46.6% and 8.1% respectively compared to 1H 2022. Key financial highlights for 1H 2023 compared to the same […]
First Capital reports profits of Rs. 2.8Bn
First Capital Holdings PLC (the Group) announces its outstanding financial performance for the first quarter ended June 30, 2023. The Group reported an impressive Profit after Tax of Rs. 2.81 billion, marking a remarkable leap from Rs. 96 million recorded in the same period last year. Among the key divisions, the Primary Dealer segment demonstrated […]
UB Finance Company debuts trading on CSE
The shares of UB Finance Company Limited (CODE: UBF-N-0000) commenced trading on the Colombo Stock Exchange (CSE) on 14th August 2023. The shares have been listed on the Diri Savi Board of the CSE, under the “Consumer Finance Services” sector. The occasion was marked with a special Bell Ringing Ceremony. A total of 38.2 million shares from 1628 transactions were recorded on the opening day […]
Enabling SME sector to digitize payments can accelerate economic growth: Country Manager for Visa
As Sri Lanka focuses on economic recovery, transforming the digital payment landscape for businesses will be a strategic area to consolidate growth, says Avanthi Colombage, Country Manager for Visa in Sri Lanka and Maldives. Visa, a global leader in digital payments, believes that unlocking the potential that digitizing payments can offer to the SME (Small […]
Cinnamon to host Google’s former CBO and Best-Selling Author Mo Gawdat
Visit in late August includes keynote discussion on future of AI and organization happiness. Cinnamon Hotels and Resorts will welcome Mo Gawdat, the former Chief Business Officer of Google [X], for a profound keynote discussion on the future of AI and organization happiness, at Cinnamon Lakeside Colombo on 28 August. With his expertise in navigating […]
ComBank Group remains resilient in volatile first half of 2023
Gross Income improves by 40.29% to Rs 167.668 Bn. Interest income up 71% to Rs 150.8 Bn, but interest expenses surge 139% to Rs 113.3 Bn. Appreciation of Rupee continues to impact loan book, deposits and assets The Commercial Bank of Ceylon Group has reported gross income of Rs 167.668 billion including a growth in […]
”’; on RWN
Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB, A(lka)/Rating Watch Negative (RWN)) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR12 billion an expected National Long-Term Rating of ‘BBB+(EXP)(lka)’ and placed it on RWN.
CSE successfully concludes invest Sri Lanka investor forum in Chennai
The “Invest Sri Lanka” Investor Forum, which was organized by the Colombo Stock Exchange (CSE) in association with the Confederation of the Indian Industry (CII), was concluded successfully on 9th August 2023 in Chennai, at the Taj Coromandel Hotel. The forum made a strong case for investment flows into Sri Lanka. The forum witnessed a […]
Teejay optimistic with capacity expansion despite challenging Q1
Teejay Lanka PLC has begun 2023-24 with a strong balance sheet, closing an extremely challenging first quarter with cash and cash equivalents of Rs 9.6 billion, despite a decline in earnings. Sri Lanka’s first multinational textile manufacturer has reported revenue of Rs 14 billion for the three months ending 30th June, reflecting a reduction of […]
Seylan Bank reports impressive 1H 2023 profitability and strong growth
Seylan Bank, has demonstrated exceptional resilience and growth in challenging market conditions, recording an impressive Profit before Tax (PBT) of LKR 4.2 billion, a 104.65% increase for 1H 2023 compared to the same period in 2022. In addition, the Bank achieved a commendable Profit After Tax (PAT) of LKR 2.6 billion, a 71.29% growth over […]