Category: Industry
Pan Asia Bank reports profit of Rs. 2Bn in 2022: Report
Total Assets touch Rs. 208 billion, up by 10% Customer deposit base reaches Rs. 162 billion, up by 11% Profit after tax for the year stood at Rs. 2 billion The Bank maintains a Net Interest Margin of 4.70% The Bank reports a decent Return on Equity of 10.58% and Post Tax Return on Assets […]
CSE enables REPO transactions between eligible investors operating through same trading participant
The Colombo Stock Exchange (CSE) announces the amendment of Trading Rules on the Over the Counter (OTC) Platform, where Repurchase (REPO) transactions in Corporate Debt Securities would be permitted between two (2) eligible investors operating through the same Trading Participant. The amended rules have been approved by the Securities and Exchange Commission of Sri Lanka […]
SL Properties Gain Increased Interest among Overseas Buyers: Report
Overseas buyer interest in Sri Lankan properties increased by 40% in 2022, compared with the year before, according to the Real Estate Market Outlook Report 2023, published by Sri Lanka’s leading real estate portal, LankaPropertyWeb. The report said that traffic from overseas countries such as the United Kingdom, Australia, the United States, Canada, and Middle-Eastern […]
Australia keen to invest in SL mining, energy and agriculture sectors
With Australian companies increasingly eager to explore investment opportunities in Sri Lanka, trade and investment promotion and facilitation activities can play a vital role in fast-tracking foreign direct investment, High Commissioner for Australia in Sri Lanka His Excellency Paul Stephens stated at a recent meeting at the Ceylon Chamber of Commerce. Stating that Australian companies […]
French Ambassador assures France’s support to Sri Lanka
France stands ready to support Sri Lanka in its efforts to restructure its debt, Ambassador for France His Excellency Jean-François Pactet announced at a recent meeting with the Sri Lanka France Business Council of the Ceylon Chamber of Commerce. Attended by the Ambassador Designate of Sri Lanka to France Mrs.Manisha Gunasekera, members of the French […]
Sri Lanka electricity tariff revision breakdown
With immediate effect, Sri Lanka’s power regulator, the Public Utilities Commission Wednesday approved a 66 per cent hike in electricity tariffs. The rate hike is expected to generate an additional income of 287 billion rupees for the Ceylon Electricity Board and was done with the approval of three commission members of the PUCSL. However, Chairman […]
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Fitch Ratings has revised the Outlook on Sri Lankan home builder Home Lands Skyline (Pvt) Ltd.’s (HLSL) National Long-Term Rating to Negative, from Stable. The agency has simultaneously affirmed the rating at ‘A(lka)’. The Negative Outlook reflects the deteriorating operating conditions for home builders, such as HLSL, which may lead to weakened home sales, slower […]
SriLankan Airlines to start operations to China
SriLankan Airlines is set to renew its commercial operations to China in the first week of April 2023, with a thrice weekly service each to Shanghai, Beijing and Guangzhou as China reopens its borders. China was a leading source market for inbound tourism to Sri Lanka and one of SriLankan’s premier leisure traveller segments before […]
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Fitch Ratings has upgraded Bank of Ceylon’s (BOC) Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CC’ from ‘RD’ (Restricted Default). The rating does not carry an Outlook because of the high volatility at this rating level, in line with Fitch’s rating definitions. At the same time, Fitch has also upgraded BOC’s Viability Rating (VR) to […]
‘s 75th Independence Day
A token of 50 buses was handed over to President Ranil Wickremesinghe at the Presidential Secretariat premises today as the second phase of a project to uplift the public transport service in rural areas across the country. A total of 500 buses are to be provided by the Indian Government as a project implemented in […]
Hatch enters partnership with Draper Startup House to strengthen SL’s position as Startup Nation
Startup ecosystem builder Hatch entered a strategic partnership with Draper Startup House, a global network of spaces connected to resources for entrepreneurs. Hatch shares a vision with Draper Startup House for Sri Lanka and has come onboard to support Hatch’s “Sri Lanka: From Troubled Nation to Startup Nation” initiative which seeks to change the narrative […]
Ceylon Chamber Facilitates SME Entry to International Markets
Supporting the capacity development and growth of the Small and Medium Enterprises sector, the Ceylon Chamber of Commerce recently held a series of workshops to facilitate SMEs’ entry into international markets. The Enterprise Transformation and Market Access (ET&MA) programme, developed and conducted by the Ceylon Chamber’s Centre for SMEs together with VSSL Global, offers mentorship, […]