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DFCC maintains profitability under volatile market conditions
DFCC’s Total Assets grew by LKR 15,652 million to LKR 390,560 million DFCC recorded Tier 1 and total capital adequacy ratios of 10.34% and 15.45% respectively DFCC’s Core Business recorded a PAT increase of 9%. Profitability Core business of DFCC Bank posted a profit before tax of LKR 1,585 million and profit after tax of […]
Nedal Salem takes helm of Ceylon Tobacco Company
May 16, 2019 (LBO) – Nedal Salem was appointed managing director andchief executive officer of Ceylon Tobacco Company PLC (CTC) effective 15th May 2019. During his career spanning over two decades at British American Tobacco (BAT), Nedal has held various senior Management roles in nine markets across three continents. He holds a Bachelor of Arts […]
Samsung customers can binge on free K-POP & other content via My Galaxy App
In exciting news for Samsung Galaxy customers, K-POP content is now available FREE on My Galaxy App on Samsung Galaxy smartphones. Increasing in popularity amongst younger customers, Sri Lanka has a large number of K-POP fans who can now enjoy hours of Korean dramas and K-POP music at their convenience and at no extra cost. […]
Opinion: Fresh frontiers of pharmaceutical innovation
By Sri Lanka Chamber of Pharmaceutical Industry For centuries, human beings have waged a relentless battle against a litany of diseases that have ravaged countless generations. From early influenza epidemics that decimated towns and villages to devastating pandemics such as the Black Death and AIDS, illness has stood as an eternal adversary to human wellbeing […]
Haycarb 2018/9 turnover Rs.20.9Bn: Raw material cost impacts negatively
May 16, 2019 (LBO) – Haycarb PLC reported revenue of 20.9 billion rupees, profit before tax of 1.35 billion rupees and profit after tax of 1.08 billion rupees for financial year 2018/19. The earnings per share of equity holders of the company increased to 32.16 rupees for the year. The Chairman of Haycarb PLC and […]
Sampath Bank’s Net Interest Income up by 23-pct in Q1 2019
Sampath Bank reported a net interest income of Rs. 10.2 Bn for Q1 2019 reflecting a noteworthy growth of 23.2% over the figure reported in Q1 2018, a significant achievement given the challenging economic conditions that prevailed throughout the period. The bank recorded a profit after tax of Rs. 2.2 Bn, a negative growth over […]
HNB launches its own digital wallet and payment app, Solo eWallet
Laying the foundation for a comprehensive digital payment ecosystem in Sri Lanka, the country’s most innovative bank, Hatton National Bank PLC, announced the launch of its own digital wallet and payment app, HNB Solo. Providing users with complete freedom in digital payments, Solo is designed to empower – enabling complete flexibility to handle any transaction […]
New Chairman for SLTDA; Kishu Gomes to focus on Sri Lanka Tourism brand promotion
May 15, 2019 (LBO) – Sri Lanka’s Tourism Minister John Amaratunga has appointed Johanne Jayaratne as Chairman of the Sri Lanka Tourism Development Authority (SLTDA). Jayaratne up to the time of his new appointment served as Managing Director of the Sri Lanka Tourism Promotion Board (SLTPB). Kishu Gomes who served in the position of Chairman […]
”; Outlook Stable
May 15, 2019 (LBO) – Fitch Ratings has affirmed Sri Lanka-based conglomerate Hemas Holdings PLC’s (Hemas) National Long-Term Rating at ‘AA-(lka)’ with a Stable Outlook. The affirmation of Hemas’ rating reflects the company’s improved business risk profile after the successful integration of Atlas Axillia (Private) Limited (Atlas), a leading school and office stationery manufacturer, which […]
Central Bank extends regulatory action on The Finance Company for another three months
May 15, 2019 (LBO) – Sri Lanka’s Central Bank has decided to extend the regulatory action currently in place on The Finance Company for another three months, in order to consider the business restructuring proposal submitted by the company. Monetary Board of the Central Bank initiated a number of regulatory actions, as temporary measures, on […]
Sri Lanka arrests suspects of mob violence in the island
May 15, 2019 (LBO) – Sri Lanka’s Police continued to arrest and remand dozens of persons linked to communal attacks in several towns in the island, which erupted countrywide starting Monday night. Issuing a statement the Police said they had arrested 14 suspects from Minuwangoda while another 60 persons have been arrested in the Wayamba […]
Comm Bank records PAT of Rs.3.2Bn in Q1 2019: Performance reflects impact of external factors
May 15, 2019 (LBO) – Sri Lanka’s Commercial Bank of Ceylon PLC has reported gross income of 35.501 billion rupees for the three months ended March 2019, an improvement of 12.86 percent over the first quarter of 2018. Operating profit before impairment charges for the period represented an increase of 4.86 percent over the corresponding […]