Tag: lbo
Ayodhya Iddawela Perera to take over as Sampath Bank MD from 01st July 2023
Ayodhya Iddawela Perera will take over as the next Managing Director of Sampath Bank PLC effective from the 1 st of July 2023. She will succeed the incumbent Managing Director, Nanda Fernando, who will conclude his term in office on the 30th of June 2023, leaving behind a legacy of commitment, excellence, and service to […]
John Keells Group crisis response initiative records promising impact among multiple communities
In the wake of Sri Lanka’s unprecedented socio-economic crisis in early 2022, the John Keells Group launched a multi-pronged Crisis Response Initiative through its Corporate Social Responsibility (CSR) entity, John Keells Foundation. Implemented in partnership with Group businesses across the Island, this initiative has made significant strides in supporting and empowering communities, aligning with the […]
Brazilian technical assistance to dairy and sugarcane industries in Sri Lanka
High-Level Technical Team of eight professionals from the Federal University of Viçosa, Federal University of Sao Carlos and the Brazilian Cooperation Agency (ABC) is scheduled to undertake a technical visit to Sri Lanka with a view to providing Brazilian Technical Assistance for the development and capacity building of the Dairy and Sugarcane industries in Sri […]
Removing PUCSL Chair via Parliament a threat to democracy and good governance: Eran
Judicial Precedence proves independent commissioners can seek court order to ensure their orders carried out Eran Wickramartne MP speaking on the debate of the resolution to remove the Public Utility Commission Chairman, asked the government that what was the great sin committed by him? The Chairman had asked the CEB to maintain the electricity supply continuously […]
Opinion: Putting customer needs first, shifting focus from flashy tech in BFSI
By Janaka Ediriweera In 2018, Nicky Morgan MP, the head of the powerful Treasury Committee (in the UK), demanded answers from the chief executives of Royal Bank of Scotland and Barclays, as millions of banking customers were locked out of their accounts, unable to access their own money or pay bills on time. She remarked, […]
JKH recurring EBITDA grows by 17-pet to Rs.45.7Bn for 2022/23
The Group reported a resilient performance during the year, amidst the unprecedented challenges in the operating environment, recording a recurring EBITDA growth of 17% to Rs.45.74 billion. This is despite the substantial EBITDA recognition of Rs.6.30 billion from the revenue of the handover of the residential apartment units and commercial floors at ‘Cinnamon Life Integrated […]
PUCSL Chair calls for 27-pct electricity tariff reduction: CEB says 3-pct only
Chairman of Public Utilities Commission of Sri Lanka, Janaka Ratnayake emphasized that there is a possibility of reducing electricity tariffs by 27 percent. The Ceylon Electricity Board (CEB) has submitted a proposal to reduce the tariffs by only 3 percent. The PUCSL has informed the CEB to submit the correct data to reduce the electricity […]
Government has brought anti-corruption Bill not to catch thieves but to imprison the whistle blowers: Eran
SJB Parliamentarian Eran Wickramaratne said that the government has brought a new legislation called Anti –corruption Bill is aimed at not to prevent bribery and corruption but more to make the informants – the whistle blowers about the thieves afraid and silence them. The new anti-corruption Bill proposed by the government enshrines that a person […]
Teejay ends 2022-23 with 70-pct revenue growth despite tough H2
Posts revenue of Rs 84 billion for full year; Rs 17.3 billion in Q4 Sri Lanka’s first multinational textile manufacturer Teejay Lanka PLC has ended 2022-23 with noteworthy revenue and gross profit growth demonstrating its resilience in the face of external challenges and higher taxation that pressured profits in the second half of the […]
Will Govt place entire burden of domestic treasury bond debt optimization on EPF? Harsha
In a recent press conference MP Harsha de Silva outlined several critical points regarding the IMF Program and expressed general agreement with the stabilization program but stressed the need for specific amendments to focus the program towards medium-term growth. De Silva questioned the four-year plan outlined in the IMF Program. He pointed out that while […]
UNDP and National Innovation Agency partner to mainstream social innovation in Sri Lanka
Social innovation is the process of developing and implementing innovative ideas, products, and services to address social and environmental challenges, and is important in development as it provides new and creative solutions to complex social problems, such as poverty, inequality, and environmental degradation. With the increase in complexity and scale of social challenges, there is […]
‘s tea industry with options for expansion
Ambassador Dr. Palitha Kohona attended the Belt and Road International Tea Trading Forum in Hefeng County, Hubei Province as a guest speaker. Hubei has over 700,000 hectares of immaculately tended tea gardens. Addressing the gathering of tea experts (including many academics), senior government and party officials, tea traders and diplomats, Ambassador Kohona, as an invited […]