SPAR Supermarkets celebrates 5th birthday offering exciting prizes in July and August

Appreciating valued customers for their loyalty and unwavering support in reaching this milestone, all 10 SPAR supermarket outlets are offering a dizzying array of exciting prizes starting with 10 grand prizes of a 2-day, full-board stay at the iconic Kandalama hotel. Supplementary prizes include 4 tickets each to 100 families to enjoy a day in the sun at the popular Pearl Bay Amusement Park, 400 SPAR vouchers valued at Rs. 5000 each, 400 SPAR b

Dilmah Supply Chain Sustainability Road Map unveiled

Establishing a sustainable supply chain implies “shaping a company’s investment, operational and procurement decisions to achieve positive environmental, social, and governance outcomes and reduce harm” – Word Economic Forum. These may range from issues such as climate action to labour standards. Fundamentally demonstrated when Dilmah Tea recently invited its supply chain to the heart of its operations in Peliyagoda for an evening of discourse a

Laugfs Supermarkets among Most Loved Brands in Sri Lanka

Laugfs Supermarkets recently announced that it has been selected as one of the most loved brands in LMD’s Brands Annual Ranking 2023, compiled by Brand Finance Lanka. This recognition is a testament to the exceptional quality, trust, and customer loyalty that Laugfs Supermarkets has cultivated over the years. Brand Finance and LMD Sri Lanka, highly respected organizations in the field of brand evaluation and recognition, conducted a rigorous ass

Macksons Group launches tea exports venture

Macksons Group, the conglomerate synonymous with excellence and innovation, recently announced the inauguration of its latest venture, Macksons Tea Exports. Steeped in history and heritage, this new addition to the Macksons family embraces the captivating world of Ceylon tea, celebrated globally for its unrivalled flavours and quality. Nestled in the heart of Sri Lanka’s lush Ceylon tea gardens, Macksons Tea Exports brings to the forefront a deli

Ansell Textiles Lanka becomes first to receive ISO 50001:2018 certification

Ansell recently announced that Ansell Textiles Lanka, one of its manufacturing plants in Sri Lanka, has become its first facility to receive the ISO 50001:2018 certification. This significant accomplishment highlights Ansell’s commitment to incorporating energy-efficient practices and technologies into our manufacturing processes. ISO 50001:2018 is an internationally recognized energy management system that helps organizations better manage the

PNB Holdings receives 3 NBE awards and NCE Gold award

PNB - a business process outsourcing (BPO) company serving clients in Australia, UK, USA, and NZ, has once again proven its excellence by securing three coveted awards at the National Business Excellence Awards 2023. Additionally, PNB has been honored with the gold award at the National Exports Awards 2022, showcasing its outstanding achievements in the global market. At the National Business Excellence Awards 2023, held on July 20th, PNB clinch

Aitken Spence among Top 10 Most Respected Entities

Aitken Spence PLC was ranked amongst the top 10 in the Most Respected of the nation’s most admired corporations for 2023. The annual ranking is by LMD through an exclusive survey conducted by NielsenIQ’s to gauge peer perceptions based on a weighted ranking system. Amidst a business climate dampened by uncertainty, Aitken Spence has been steadily moving up positions in its rankings and is widely recognised as a catalyst in the country’s social ec

Singer Sri Lanka crowned as ‘Most Valuable Consumer Brand - Retail 2023’

Singer Sri Lanka - the leading consumer durable retailer has achieved a remarkable feat by being named the Most Valuable Consumer Brand-Retail by Brand Finance 2023. This recognition highlights the company’s unwavering commitment to maintaining brand strength and underscores the pivotal role of the brand in the success of any business. With an unwavering dedication to excellence and customer satisfaction, Singer Sri Lanka PLC continues to set ne

Sampath Bank 2Q earnings boosted by sharp decline in impairment charges

Sampath Bank PLC, Sri Lanka’s third largest private lender in terms of assets, saw its June quarter (2Q23) earnings soaring amid a sharp decline in impairment charges, the interim financial accounts released to the Colombo Stock Exchange showed. The banking group reported earnings of Rs.3.95 per share or Rs.4.6 billion for the quarter under review, compared to earnings of Rs.2.15 per share or Rs.2.5 billion reported for the corresponding period o

NTB delivers strong performance in 2Q

Nations Trust Bank PLC (NTB) reported strong earnings for the quarter ended on June 30, 2023 (2Q23) amid a solid core banking performance and sharp reduction in impairment charges. The banking group reported earnings of Rs.10.41 per share or Rs.3.32 billion for the quarter under review, compared to earnings of Rs.3.51 per share or Rs.1.12 billion reported for the corresponding period of the previous year. For the first half of 2023 (1H23), the ea

NDB reports higher earnings in 2Q amid drop in impairment provisions

National Development Bank PLC (NDB) reported higher earnings for the quarter ended on June 30, 2023 (2Q23) and first half, as the bank was able to reduce the impairment provisions significantly from last year, which were made on the bank’s foreign currency investments. “The finalisation of the DDO and the options extended to banks have removed ambiguity and have helped lessen the risk premia added to interest rates. We anticipate similar clarity

BBC sells historic Maida Vale Studios

AFP: The BBC announced yesterday that it has sold its historic Maida Vale Studios to a group including the German film score composer and music producer Hans Zimmer. The site in northwest London, which was bought by the broadcaster in 1933, is a complex of seven studios housed in a former Edwardian-era roller-skating rink. Over the years it has hosted major musicians from The Beatles to Beyonce as well as symphony orchestras and thousands of sess

Harin calls for consistent tourism policy despite change in govt.

Tourism and Lands Minister Harin Fernando yesterday emphasised the urgent need for a tourism policy that remains consistent despite changes in government or political leadership and called for its prompt presentation to the country.

JAT Holdings sees revenue contribution from Bangladesh operations surge in 1Q

JAT Holdings PLC, Sri Lanka’s market leader in wood coatings, witnessed a significant surge in revenue contribution originating from its operations in Bangladesh in the June quarter (1Q24), the interim financial accounts released to the Colombo Stock Exchange showed. The revenue from Bangladesh operations rose 125 percent year-on-year (YoY) to Rs.690.1 billion. The group reported a total revenue of Rs.2.1 billion, to which Sri Lankan operations c

Industry divided over planned MRR reintroduction

The Minimum Room Rate (MRR) for city hotels that will come into effect by October 1 has tourism sector stakeholders divided on the overall outcome of the move. While one section expects....

Sri Lanka targets US$ 2bn from gem and jewellery exports

During a recent high-level discussion at the Presidential Secretariat, President Ranil Wickremesinghe called for urgent and comprehensive plans to revitalise Sri Lanka’s gem and jewellery industry, aiming...

SLT net loss tops Rs.2.1bn in 2Q as Mobitel’s subscriber base shrinks by 1mn

Sri Lanka Telecom PLC (SLT), the leader in fixed line telephony, reported losses in the June quarter (2Q23) amid weak top line performance, as its mobile arm Mobitel recorded revenue de-growth owing...

ComBank converts losses to profits in 2Q amid sharp decline in impairments

Commercial Bank of Ceylon PLC (ComBank), Sri Lanka’s largest private lender with an asset base of Rs.2.46 trillion, recorded positive earnings for the quarter ended June 30, 2023 (2Q23)....

Workers’ remittance inflows top US$ 500mn in July

Workers’ remittances to Sri Lanka have surpassed the US$ 500 million threshold for the second time since the pandemic, reaching US$ 541 million in July, according to data released by the Central....

HNB 2Q earnings soar amid significant reduction in impairment charges

Hatton National Bank PLC, Sri Lanka’s second largest private bank in terms of assets, reported higher earnings for the quarter ended June 30, 2023 (2Q23) on strong core banking performance and...

Heritance Negombo joins forces with Sentido as franchise operation

Heritance Negombo, a distinguished property under Aitken Spence Hotels portfolio, recently announced its strategic franchise partnership with Sentido of DER Touristik Hotels & Resorts....

Adani Ports says Deloitte auditor resignation arguments not convincing

India’s Adani Ports on Saturday said Deloitte’s reason for quitting as auditor of the company was “not convincing or sufficient to warrant such a move” and the global firm had all the necessary information....

DIMO unveils all-electric Mercedes-Benz EQ range in Sri Lanka

DIMO, a leading diversified conglomerate and the sole authorised general distributor for Mercedes-Benz in Sri Lanka, has unveiled an exciting leap towards sustainable mobility with the introduction of the all-electric...

Hayleys Solar brings energy independence to Stafford Motors

Hayleys Solar, the renewable energy arm of Hayleys Fentons, as the number one solar provider in Sri Lanka, has enabled Stafford Motors, one of the largest automotive dealers in the country, to achieve...

Kia Motors Lanka wins Bronze at 2023 BestWeb.lk awards

Kia Motors (Lanka) Limited has been awarded a Bronze in the advertising and marketing category for its website, which was relaunched earlier this year to better represent the brand’s....

DPMC felicitates dealers and distributors

David Pieris Motor Company (Private) Limited (DPMC) recently organised a special event at Pearl Bay, Bandaragama, to show appreciation to its dealers and distributors. The event was attended by more than....

Seylan Cards with leading auto care providers offers 0% easy payment plans for vehicle maintenance

Seylan Cards has partnered with several of Sri Lanka’s leading auto care providers such as U&H Wheel Service, DSI Tyres, Crown Tyres (Pvt.) Ltd, Universal Tyre, Prince Tyre Service, Ideal Motors....

Amana Bank 2Q earnings up 79% amid solid top line performance

Amana Bank continued its upward performance trend by recording a 2023 mid-year profit before tax (PBT) of Rs.802.8 million, reflecting a substantial growth of 44 percent in comparison to Rs.556.9 million...

People’s Bank shines at Bestweb.LK 2023

BestWeb.LK, the prestigious annual event organised by the LK Domain Registry, proudly celebrates its 13th edition, recognising the outstanding achievements in web development within Sri Lanka. Amidst....

HSBC SL receives four international accolades

HSBC Sri Lanka has been recognised with four industry awards, further cementing its position as the leading international bank in the country. HSBC was named Best International Bank....