Higher impairment charges caps NTB’s 1Q growth

The net profit of Nations Trust Bank PLC (NTB),..

Seylan Bank 1Q net profit up 26%

Seylan Bank PLC saw its net profit for the March quarter (1Q15) increasing 26 percent...

AIA Lanka reports Rs.2mn net loss in 1Q15

AIA Insurance Lanka PLC, the local unit of the Hong Kong stock exchange-listed Asian life insurance giant,..

Cargills Bank 1Q net loss exceeds Rs.70mn

The banking arm of the Cargills group, Cargills Bank Limited (CBL),...

HNB 1Q net profit up 75% to Rs.1.91bn

Hatton National Bank PLC (HNB), the second biggest private bank in the country with an asset base of Rs.625 billion,...

ComBank posts Rs.2.5bn net profit in 1Q

Commercial Bank of Ceylon PLC (ComBank), Sri Lanka’s largest private bank in terms of assets,...

Dialog 1Q net profit up 56% despite tax snags

Dialog Axiata PLC, the local unit of Malaysia’s Axiata Group,...

Clarks bringing comfort and class from London

Spanning a history of nearly 200 years, Clarks shoes have become synonymous with quality, comfort and class. Bringing the best of Britain and a very unique heritage in shoe design, Clarks has delighted consumers since inception, and very few the world over are unaware of the brand. Premium quality footwear that blends British traditional craft and innovative technology distinguishes and sets Clarks apart. 

Hemas to use rights money to expand healthcare, personal care businesses

Hemas Holdings PLC said yesterday the Rs.4.1 billion rights issue proceeds will be utilized...

New IPS study explores taxation impact on SMEs

?Tackling the twin challenge of providing a concessionary tax regime for Small and Medium Enterprises (SMEs) while aiming to expand the tax base would require a better policy formulation, argues a new study by the Institute of Policy Studies of Sri Lanka (IPS). 

Jayatissa appointed to Monetary Board

?Economist R.A. Jayatissa has been appointed as a member of Central Bank of Sri Lanka’s  Monetary Board with effect from April 10, 2015 by President Maithripala Sirisena. 

Nestlé Lanka 1Q revenue up 7% to Rs.9.2 bn

?Nestlé Lanka PLC delivered a revenue of Rs. 9.2 billion with a YoY growth of 7.3 percent for the first quarter ending 31 March 2015, despite a very challenging and volatile environment. The company posted a profit after tax of Rs. 1.2 billion. 

OCH III construction to begin shortly: Minister

?The work on the third phase of the Outer Circular Highway (OCH III) between Kadawatha and Kerawalapitiya will commence within the next couple of weeks, Highways and Investment Promotion Minister Kabir Hashim said.

Euromoney plans int’l investor conference in Colombo

?Leading business and finance magazine Euromoney is planning an international investor conference in Colombo this September, Sri Lanka’s Industry and Commerce Ministry said in a media communiqué yesterday. 

Chambers hail Finance Ministry initiative aimed at improving Doing Business ranking

?A joint business chamber statement yesterday welcomed the timely initiative taken by the Finance Ministry to engage in a series of discussions with the public institutions and private sector to address the issues...

High-powered Qingdao delegation to arrive in Sri Lanka on May 15

?Sri Lanka is set to host a high-powered business delegation from Qingdao city of China on May 15, 2015.  The Sri Lanka-China Business Council (SLCHBC) will facilitate the business and networking event

Switzerland, Bahrain and Croatia hold talks with Ceylon Chamber for commercial ties

?Envoys of Switzerland, Bahrain and Croatia held discussions with the Ceylon Chamber of Commerce recently to find out ways and means of exploring trade, tourism and investment opportunities between Sri Lanka and those countries.

Ceylinco Life opens new branch office in Kilinochchi

?Life insurance leader Ceylinco Life has strengthened its presence in Sri Lanka’s northern region with the opening of a new branch office in Kilinochchi. Formally declared open by the company’s Director...

Fitch places People’s Merchant Finance on Negative Watch; withdraws rating

?Fitch Ratings Lanka has placed Sri Lanka-based People’s Merchant Finance PLC’s (PMF) national long-term rating of ‘BB+(lka)’ on Rating Watch Negative and simultaneously withdrawn the rating.

Xoom-Sampath introduce instant money transfer service to Sri Lanka

?Xoom Corporation, a leading digital money transfer provider, yesterday announced the launch of its money transfer service to Sri Lanka. Xoom has partnered with Sampath Bank,

Shareholder finds fault with Ceylinco Insurance dividend statement

?Global Rubber Industries (GRI), a significant shareholder of Ceylinco Insurance, states that the recent dividend announcement of Ceylinco Insurance is distorted and does not reflect the true value of return on equity to shareholders. 

Court of Appeal issues notice on Ceylinco Insurance segregation

The Court of Appeal yesterday issued notice on Ceylinco Insurance and its life and general divisions, following a revision application filed by a shareholder against an order made by the District Court.

Qatar Airways announces ‘Double The Luxury’ offer on world’s best Business Class

?Qatar Airways is offering customers in Sri Lankan a fabulous ‘Double The Luxury’ promotion for Premium Class travel to exciting destinations around the world.

Lafarge Mahaweli Cement on schedule with ‘Savi Piyasa’ housing programme

?Lafarge Mahaweli Cement is on schedule with its Savi Piyasa housing programme and has now partnered with nine leading brands in the construction sector and two commercial banks to add value to its technical assistance scheme for individual home builders. 

15th CIM Annual Conference Inauguration

Chartered Institute of Marketing (CIM) Chairman Sanjika Perera...

Eran to reveal major irregularities to P’ment today

Highways and Investment Promotions Deputy Minister Eran Wickremaratne said that he will reveal...

Funds at state-owned Lankaputhra Bank grossly misused: Chairman

State-owned Lankaputhra Development Bank has initiated a credit audit in a bid to recover loans amounting...

Former Lanka Hospitals CEO to head Hemas Hospitals

Hemas Hospitals yesterday announced the appointment of Dr. Lakith Peiris as the Managing...

CTC records Rs.2.5bn net profit in 1Q amid volume pick up

Ceylon Tobacco PLC (CTC) saw its net profit surging by Rs.500 million to Rs.2.5 billion in the first...

SriLankan management’s inaction on Weliamuna report raises questions

The board of directors of the national carrier SriLankan Airlines is yet to take any action...