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JKH records strong Q4 2023/24 with recurring EBITDA growth of 20-pct to Rs.14Bn
• During the fourth quarter, the Group reported a strong performance across most businesses, with Consumer Foods, Transportation and Leisure, in particular, recording significant growth. The performance seen in most of the businesses is a reflection of the improving macroeconomic conditions in the country and is a continuation of the growth momentum witnessed in the […]
CSE Shortens Settlement Cycle for Equity Trades
The Colombo Stock Exchange (CSE), in consultation with the Securities and Exchange Commission of Sri Lanka (SEC) and industry participants, has announced that the settlement cycle for equity transactions will be reduced from T+3 to T+2 with effect from 10th June 2024 (i.e. trades taking place on and after 10th June 2024). The concept of […]
‘s Exports Up 1.25-pct to USD1.11 Billion in April
The total exports (Merchandise & Service) for the month of April 2024 was recorded as US$ 1,114.22 Million increasing 1.25 % over the corresponding period of 2023. As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in April 2024 amounted to US$ 813.81 million, recorded decrease of 4.1 % […]
Economic Transformation Bill and Public Financial Management Bill to Parliament on May 22
Acting Finance Minister Shehan Semasinghe announced plans to introduce two significant bills to Parliament on May 22, aimed at bolstering the country’s economy. These bills, the “Economic Transformation Bill” and the “Public Financial Management Bill,” are designed to enhance the management of public finances, thereby safeguarding against future economic downturns. Minister Semasinghe made this announcement […]
The Ceylon Chamber Calls on All Political Parties to Support Continuity of SOE Reforms
The Ceylon Chamber of Commerce calls on all political parties to support the continuity of SOE reforms and the reform momentum, building on the economic stability achieved. The Chamber stresses that it is vital to prioritise and implement the reforms related to State-Owned Enterprises (SOEs), energy, and fiscal management, to ensure that the country does […]
Seylan Bank appoints Justice Buwaneka Aluwihare as Chairman
Seylan Bank PLC has announced the appointment of Justice Buwaneka Aluwihare, PC, who is set to assume the role of Chairman of the Board, effective from 29 May 2024. The transition follows the retirement of the current Chairman, Ravi Dias, who will complete his nine-year tenure as a Director of the Bank on May 28, […]
’24 in under 10 minutes
Watch the recap to catch up on the latest news, announcements, and AI updates from Google. These are the new products and updates announced at Google I/O 2024: Gemini 1.5 Flash: A lighter-weight model designed to be fast and efficient to serve at scale. Gemini 1.5 Pro: An improved model for general performance across a […]
SL and the UK agree a new partnership to work together to protect marine environment
This week the Ministry of the Environment and the UK government’s Department for the Environment, Food and Rural Affairs signed a Memorandum of Understanding (MoU) between the two nations, to protect and enhance the marine environment. Mr. Prabath Chadrakeerthi, Secretary, Ministry of Environment and Sara Rusling, Deputy Director for the UK’s Department for Environment, Food […]
Sri Lanka Targets UAE as a Key Tourism Market at Arabian Travel Market 2024
Sri Lanka made a significant presence at the Arabian Travel Market (ATM) 2024 in Dubai highlighting the island nation’s diverse attractions and offerings. The Sri Lanka pavilion at ATM 2024 was organized by the Consulate General of Sri Lanka in Dubai in collaboration with the Sri Lanka Tourism Promotion Bureau (SLTPB). Arabian Travel Market was […]
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Fitch Ratings has assigned Seylan Bank PLC’s (A-(lka)/Stable) proposed Sri Lankan rupee-denominated, Basel III-compliant subordinated debentures of up to LKR10 billion an expected National Long-Term Rating of ‘BBB(EXP)(lka)’. The proposed debentures, which will have maturities of five and seven years, will be listed on the Colombo Stock Exchange. The bank plans to use the proceeds […]