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Norfund to support development of Hela Apparel Holdings’ East African operations with USD 14Mn investment
Norfund, the Norwegian government’s investment fund, with a mission to support sustainably driven business operations in developing countries, recently signed a USD 14 million financing agreement with Hela Apparel Holdings PLC to bolster the development of its manufacturing operations in East Africa. NDB Investment Bank Limited acted as the Financial Advisor for the transaction. […]
ComBank Group consistent with solid topline growth in 2022, increases provisioning
Income grows 71% to Rs 280.4 Bn. for the year and 94% to Rs 84.8 Bn. in Q4 Record impairment provisioning for the year – up 186% to Rs 71.9 Bn.; Rs 46.8 Bn. increase for 2022 for US$ denominated Government Securities and Stage 2 & 3 loans Assets approach Rs 2.5 […]
Over 1.2Mn orders were influenced by Daraz Live campaigns and streams in 2022
Daraz Group, South Asia’s leading e-commerce platform, released the inaugural report on Daraz Live selling in South Asia. The report indicated that live commerce, a combination of live streaming and sales is one of the fastest-growing platforms for raising awareness for brands and sellers alike. The report looks at Daraz Live’s performance over twelve months […]
SL Retail Ass President stresses need for regulatory and policy overhaul to ensure industry’s future
The Sri Lanka Retail Forum (SLRF) 2023 conducted by the Sri Lanka Retailers Association (SLRA) on 1st March, 2023, will address many of the pressing challenges currently faced by the industry, and explore proven strategies and vital avenues to explore to ensure stability and sustainability for the industry, SLRA President Murali Prakash stated. Against a […]
TEDxColombo Returns Bigger and Better in 2023 After Pandemic Hiatus
The ever-popular TEDxColombo, an independently organized event licensed by TED, is set to return for its 10th edition, featuring local voices and exclusive TED Talks videos. The event aims to provide a platform for speakers who can connect with their audience in a way that keeps ideas worth sharing alive. TEDxColombo accepts applications from all […]
Pan Asia Bank reports profit of Rs. 2Bn in 2022: Report
Total Assets touch Rs. 208 billion, up by 10% Customer deposit base reaches Rs. 162 billion, up by 11% Profit after tax for the year stood at Rs. 2 billion The Bank maintains a Net Interest Margin of 4.70% The Bank reports a decent Return on Equity of 10.58% and Post Tax Return on Assets […]
Govt expects investment to flow but country risk remain unresolved: Eran
We are talking on two Regulations under the Port City Really to get this country out of the current economic mess we know we have a debt crisis and looking for more debt but not forthcoming due to the fault of governance without implementing rule of law said Eran Wickramaratne speaking in the parliamentary debate […]
”; Outlook Stable
Fitch Ratings has affirmed the National Long-Term Rating of Sri Lanka-based telecom company Dialog Axiata PLC at ‘AAA(lka)’. The Outlook is Stable. The affirmation and Stable Outlook reflect Fitch’s view that Dialog will be able to maintain a credit profile commensurate with a ‘AAA(lka)’ rating in the next 12-18 months, despite lower demand for telecom […]
CSE enables REPO transactions between eligible investors operating through same trading participant
The Colombo Stock Exchange (CSE) announces the amendment of Trading Rules on the Over the Counter (OTC) Platform, where Repurchase (REPO) transactions in Corporate Debt Securities would be permitted between two (2) eligible investors operating through the same Trading Participant. The amended rules have been approved by the Securities and Exchange Commission of Sri Lanka […]
Faizal Salieh appointed as new SEC Chairman
The Securities and Exchange Commission of Sri Lanka (SEC) today announced that Faizal Salieh assumed duties as the Chairman of the SEC on 20th February 2023. He is currently the Chairman of the Sri Lanka Institute of Directors, which is committed to empowering Directors from both the private and public sectors with insights and skills […]