Business HNB Assurance Group delivers notable financial results for Q1 2018; PAT up
HNB Assurance Group delivered a notable financial performance, reporting a Profit After Tax (PAT) of LKR 699 MN for Q1 2018 reflecting a steady growth of 844%…
Business News
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Business INSURANCE INDUSTRY ACTS FAST; DEPLOYS LOSS ADJUSTERS
National Insurance Trust Fund provides Rs 40m for flood relief The National Insurance Trust Fund Board (NITF) has released Rs. 40 million to provide immediate…
Business Ceylinco Insurance announces ‘record’ 315 percent dividend
Ceylinco Insurance PLC, announced an incomparable dividend of Rs.31/50 per share to its shareholders for the year 2017, which constitutes a 315 % dividend of…
Business UPDATE 1-Sri Lanka accepts $1 bln, 8-yr syndicated loan from China Dev Bank
COLOMBO, May 25 (Reuters) - Sri Lanka has accepted an eight-year China Development Bank $1 billion syndicated loan to repay loans maturing this year, two top…
Business Aitken Spence ups FY18 pre-tax profit by 22% to record Rs. 6.4 b
Aitken Spence Plc recorded a steady financial performance for the 12 months ending 31 March 2018 with a 22% year-on-year growth in profit-before-tax from Rs.…
Business Milestone marks from Mangala
After completing year as Finance Minister insists sound macroeconomic fundamentals exist for stronger growth Higher tax revenue, investments, FDIs, export…
Business Hayleys first listed firm to cross $1b turnover
Building on a strong momentum gathered over the final quarter of FY 2017/18, Sri Lanka’s leading diversified conglomerate Hayleys PLC announced a record…
Business National Export Strategy for Cabinet nod soon - Malwatte
Export target for 2018 scaled up to US$ 17.8 bn Measures to increase exports by 15% annually Sri Lanka’s exports in 2017 has grown by 15% to US$15.4 billion…
Business Hackers transfer US$13 mn from businessmen via emails: CERT
The Computer Emergency Readiness Team | Co-ordination Centre (CERT|CC) said yesterday they had received complaints about fraudsters hacking into email accounts…
Business Business confidence falls to a 70-month low
The latest edition of business magazine LMD reports a decline of 19 basis points in the LMD-Nielsen Business Confidence Index (BCI). It fell to 98 in April, a…
Business Scam causes Rs. 10 m loss at CPSTL, Arjuna to probe
An alleged scam has caused a loss of Rs. 10 million at the Ceylon Petroleum Storage Terminal (CPSTL) on the day fuel prices were hiked, prompting Minister…
Business Singer revenue in 1Q up 13% to Rs. 13.6 b despite challenging environment
Singer (Sri Lanka) Plc yesterday announced a 13% increase in revenue to Rs. 13.6 billion in the first quarter of 2018 in spite of challenging business…
Business HNB Group records Rs7.2Bn PBT in Q1
Sri Lanka’s Hatton National Bank reported a first quarter profit after tax growth of 22.5 percent to 4.5 billion rupees, while the Group reported a PAT of 5…
Business CPC to venture into bulk bitumen next month
Corporation to provide 50% of country’s bulk bitumen demand Production will be carried out from existing infrastructure facilities at Sapugaskanda refinery…
Business Facebook to empower entrepreneurs in SL
Facebook’s global ‘Boost Your Business’ program is now available for the youth and entrepreneurs of Sri Lanka. Recognizing the potential of the country’s small…
Business Primary industries to the fore
Govt. introduces slew of measures to improve food processing to boost rural economy Rs. 16 billion project including $ 101 million WB loan kicked off by PM to…
Business HNB Group records Rs 7.2 bn PBT in Q1
HNB posted a strong start to 2018 with first quarter PAT growing by 22.5% to Rs 4.5 Bn, while the Group reported a PAT of Rs 5 Bn which is a 24% growth from…
Business ‘Tax on gold imports has helped save valuable foreign exchange’
Central Bank's imposition of a 15 percent tax on gold imports really helped to prevent foreign exchange from going out of the country, Central Bank Governor Dr…
Business EU provides Rs. 810 mn in technical assistance to modernise Sri Lanka’s agricultural sector
The European Union has launched a Rs. 810 million project to support the modernization of Sri Lanka’s agriculture sector, according to a statement issued by…
Business $1B target by 2020 with right policies – Gem and Jewellery Assn
Sri Lanka can achieve the US$ 1 billion gem and jewellery export revenue by 2020, provided the right policy framework is in place along with the lifting of the…
Business NDB records Rs 2.7 bn PBT in 1Q 2018
The National Development Bank PLC (NDB) closed the first quarter ending March 31, 2018 on a high note with impressive growth in profitability and business…
Business Nationwide inflation contracts to 2.8%
Nationwide inflation during March this year contracted to 2.8 per cent year-on-year from 3.2 per cent recorded in February 2018 as food inflation declined. The…
Business Teejay Lanka’s Q4 pre-tax profit up 27% to Rs 501.6 million
Teejay Lanka PLC has reported profit before tax of Rs 501.7 million at Group level for the final quarter of 2017-18, to end a challenging year with a…
Business $ 75 m EAP deal struck with $ 35 m initial infusion
The long-awaited and crucial deal on EAP Group, linked to the revival of ETI Finance and Swarnamahal Financial Services, has been struck with an investment…