Category: Other
‘s Basel III Sub Debt AA-(lka)(EXP)
Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (CB, AA(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures of up to LKR10 billion an expected National Long-Term Rating of ‘AA-(lka)(EXP)’. The debentures will have maturities of five and 10 years and carry fixed coupons. The debentures will qualify as Basel III-compliant regulatory Tier 2 capital for […]
Sampath Bank becomes first bank to accept Alipay payments in Sri Lanka
Sampath Bank, one of Sri Lanka’s most innovative banks, has become the first bank in the country to partner with Alipay, the world’s largest online and offline payment platform operated by Ant Financial Services Group.This latest partnership will allow Sampath Bank’s local merchant partners to tap in to the multitude of incoming tourists from China […]
Hayleys sees strong 9-month top line growth, Turnover up to Rs.112.3Bn
Strong top line performances across the Hayleys Group and the addition of recent strategic acquisitions resulted in a 37% YoY increase in turnover up to Rs.112.3 billion during the nine months to 31 December 2017 while gross profits expanded by 29% YoY up to Rs. 24 billion. Increases in raw material prices and adverse weather […]
Hemas Holdings posts consolidated revenue of Rs.35.6Bn
Hemas Holdings PLC and its subsidiaries reported consolidated revenue of Rs.35.6 billion; a year-on-year (YoY) growth of 11.4% and profit attributable to equity holders of Rs.2.1billion, a decline of 12.7% for the nine months ending December 31, 2017. Cumulative operating profit for the first nine months of the FY18 stood at Rs.2.9 billion; a YoY […]
”s journey with a bang
Feb 12, 2018 (LBO) – Sri Lanka’s former President, Mahinda Rajapakse led Sri Lanka Podujana Peramuna (SLPP) contesting under the Pohottuwa symbol has claimed victory in over 230 local government bodies at the recently held polls. Voter turnout was unusually high officials said with the final figure expected to be higher than 70 percent. The […]
Celebrate the victory peacefully and with restraint: Mahinda Rajapaksa
MEDIA RELEASE Celebrate the victory peacefully and with restraint Reports coming in from all corners of the island, indicate that the Sri Lanka PodujanaPeramuna is heading for a historic victory at the local government elections. I wish to express my heartfelt thanks to the voting public of Sri Lanka who have reposed their trust in […]
Dialog Axiata FY 2017 NPAT Rs10.8Bn, Rs27.3Bn Invested in Infrastructure
• Net Profit After Tax Rs10.8Bn • Recommended Dividend: 35% of Earnings, 46 Cents per Share • Direct and Indirect Contribution in Taxes, Fees and Levies to GoSL: Rs35.7Bn • Investment in High Speed Broadband and Other Infrastructure: Rs27.3Bn Dialog Axiata PLC announced, Friday 9th February 2018, its consolidated financial results for the year ended […]
Consumer goods & agri sectors boost Sunshine group profits by 23-pct
9MFY18 Highlights • Consolidated revenue of Rs.15.6 billion, an increase of 12.4% YoY • PAT amounted to Rs. 1.6 billion, up 23.0% YoY, due to strong Agri and Consumer Goods sector results • Healthcare revenue up 3.3% YoY to Rs. 6.0 billion • Strong growth in Consumer Goods, revenue up 27.4% YoY to Rs 3.8 […]
Virtusa Showcases Innovation and Tech Prowess at Tech Month
(PRESS RELEASE) – Virtusa announced the launch of “Virtusa Tech Month”, a celebration of the company’s innovative spirit and technology leadership, at its Colombo Advanced Technology Center recently. Bringing together Virtusans from across various practices and domains including Healthcare, Communications, Media and Information Industries (CMI), Banking and Financial Services (BFS) and FinTech, the event seeks […]
Sri Lanka tea prices up in January 2018
Feb 08, 2018 (LBO) – Sri Lanka’s tea prices at auctions in January averaged 640.05 rupees and shown a growth of 43.79 rupees from an year ago, Forbes and Walker Tea Brokers said. Prices of teas from all three elevations rose during January with the biggest gains in the high grown varieties. “Total Auction average […]
AmCham hosts Stephen Renna from U.S. Department of Commerce
(PRESS RELEASE) – Stephen Renna, Director, Advocacy Center, U.S. Department of Commerce, International Trade Administration will meet with members of the American Chamber of Commerce in Sri Lanka this Friday. The meeting will focus on initiatives being carried out by the Advocacy Center to boost business for U.S. companies as well as an open discussion […]
British Prime Minister appoints Ranil Jayawardena as Trade Envoy for Sri Lanka
Feb 07, 2018 (LBO) – British Prime Minister Theresa May has appointed Ranil Jayawardena, MP, as her trade envoy for Sri Lanka, British High Commission said.Jayawardena’s role as trade envoy will be to support and enhance the development of Britain’s trade and investment with Sri Lanka.“Given the shared history and close bonds of friendship between Britain […]