John Keells Holdings 1Q25 profitability slips

Premier blue-chip company John Keells Holdings PLC reported a decline in group profitability for the first quarter of the financial year 2025 (1Q25) due to pre-opening expenses and non-cash exchange losses of its upcoming high-profile property, and a notable deferred tax credit at the ports and shipping business.

City of Dreams to be supported with Rs. 24 bn raised via Rights Issue

John Keells Holdings yesterday announced it will raise Rs. 24 billion to support the project funding requirement at Waterfront Properties Limited (WPL).

Debt crisis management: Pakistan to learn from Sri Lankan experience

Pakistan which commended Sri Lanka in stabilising the debt crisis said it could learn from Sri Lanka’s experience, according to a statement from the Foreign Affairs Ministry.

Market to be rerated towards elections: First Capital Research

The market is expected to be rerated towards the election, according to First Capital Research, as investors are likely to adjust their overall valuations during that period.

Fresh gazette to be issued in August for Rs. 1,700 plantation worker wage

The government is determined to grant the announced Rs.1700 living wage for plantation workers by issuing a fresh gazette within the first two weeks of August, after securing the required approvals from respective wages boards.

Do not compromise regulations to accommodate commercial fintech products: CBSL governor 

The Central Bank emphasised that Sri Lanka should not compromise its regulatory integrity just to accommodate a few highly publicised commercial products and payment platforms.

Weak consumer a drag on Hemas June performance

Hemas Holdings PLC reported subdued top and bottom-line performance in the three months ended in June 2024 as the company scrambled with consumers significantly weakened by the red-hot inflation in 2022 and 2023 and the repeatedly raised taxes.

New Act underway for PPP National Agency

The government is set to formulate a new legislative Act for the National Agency for Public-Private Partnership (NAPPP) to enhance the legal validity of the agency and its partnership agreements.

Indices close in red

The ASPI closed in red as a result of price losses in counters such as Commercial Bank, C T Holdings and Browns Investments with the turnover crossing Rs. 558 mn.

Secondary market reaches standstill

The secondary market witnessed a complete standstill during yesterday as the investors remained on the sidelines longing for the outcome post the Rs. 200.0bn T-Bond auction held yesterday, where auction yields witnessed an incline.

ACCA and Colombo Stock Exchange sign MoU

The Association of Chartered Certified Accountants (ACCA) and Colombo Stock Exchange (CSE) signed a memorandum of understanding (MoU) recently to establish a partnership aimed at enhancing financial literacy and professional development in Sri Lanka.

Mark elected as Council for Business with Britain President

The Council for Business with Britain (CBB) held its 24th Annual General Meeting at Westminster House recently. The event marked a significant milestone with engaging discussions and a seamless transition in leadership.

DFCC Online Banking FD offers 0.5% additional interest

As a pioneer in the digital banking revolution in Sri Lanka, DFCC Bank empowers its customers with an additional 0.5 percent interest on all fixed deposits (FDs) opened via DFCC Online Banking.

SLT-Mobitel Nebula Institute of Technology recognised as 10th IET on Campus Chapter

The SLT-Mobitel Nebula Institute of Technology, the education arm of SLT-Mobitel, has achieved a significant milestone by being recognised as the 10th IET on Campus Chapter.

Blum launches experience centre in Sri Lanka

Blum, the acclaimed Austrian brand synonymous with high-end furniture fittings, launched its inaugural experience centre in Sri Lanka in partnership with Prudential International (Pvt.) Ltd (Prudential Design Studio).

Singer launches LIMA ELO7 electric bike

Singer Sri Lanka PLC, the innovative benchmark and leader in the consumer electronics and home appliances industry, is poised to revolutionise the two-wheel driving experience by introducing the new LIMA ELO7 electric bike to Sri Lanka.

Dialog Suraksha, a Parental Control Service

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has announced the launch of Dialog Suraksha, a parental control service that ensures your kid’s safety online. This includes a series of safety features that provide an extra layer of security for your child as they learn and play online.

Building a resilient workforce: Key to Sri Lanka’s future success

In the wake of an economic crisis, Sri Lanka stands at a crucial crossroads. Building a resilient workforce is essential for promoting sustainable growth and improving the nation’s global competitiveness. A strong human capital framework is key to attracting foreign direct investment (FDI) and driving innovation.

Pan Asia Bank opens 2 new digital zones in South

Pan Asia Bank announced the grand opening of its new digital zones in Galle and Matara.

SriLankan Airlines promotes dual-country holidays with UAE tour operators

SriLankan Airlines, in collaboration with Travel Portfolio from the United Arab Emirates (UAE) and Aitken Spence Travels from Sri Lanka, recently concluded a successful familiarisation (FAM) tour of Thailand and Sri Lanka for top travel and tour operators in Dubai.

India doubles plantation sector education fund to Rs. 600 million

India has agreed to double its grant for a project aimed at upgrading educational infrastructure in schools within the plantation sector.

Major reforms to absorb SL’s informal employees into formal sector

Sri Lanka’s estimated four million informal sector employees may soon be absorbed into the formal sector, granting them the dignity of their labour through two landmark initiatives.

Sri Lanka must shift to rule-based system for investment: SOERU chief

Sri Lanka needs to transition from a system dominated by ministerial discretion to a rule-based administration, to create an investment-friendly climate and promote a thriving private sector, Sri Lanka’s State-Owned Enterprises Restructuring Unit (SOERU) Head Suresh Shah said.

East West Properties offers buyout at Rs.16 per share

East West Properties PLC, whose majority shareholder is Nahil Wijesuriya, announced that its board of directors has decided to initiate the delisting of the company’s shares from the Colombo Stock Exchange (CSE), subject to obtaining the necessary shareholder and regulatory approvals.

Sustainability compliance a major concern for local exporters: DIMO CFO

As the global regulations tighten and consumer demand for eco-friendly products grows, complying with the sustainability standards is becoming a major challenge and opportunity for the corporates in the country, according to DIMO Chief Financial Officer (CFO) Suresh Gooneratne.

BOI joins global pledge to boost gender equity in FDI-mandated organisations

The Board of Investment (BOI) Sri Lanka recently joined a global pledge initiated by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and Foreign Direct Investment (FDI) Centre to promote gender equity among the FDI-mandated organisations in the country.

Ceylon Cold Stores June results highlight strengthening consumer market

Offering a sneak peek view of the consumer markets in the foregoing quarter, Ceylon Cold Stores PLC reported better top and bottom lines, which showed signs of continued recovery in consumer spending.

Week commences with foreign buying

Indices closed in red as a result of price losses in counters such as Hatton National Bank, Sampath Bank and Hayleys with the turnover crossing Rs. 376 Mn. High net worth and institutional investor participation was noted in Hayleys Fabric and Lanka Milk Foods.

Lacklustre mode extends ahead of primary auctions

The secondary market yield curve remained broadly unchanged during the day amidst toned-down market activities.

ComBank becomes first Sri Lankan bank to join PCAF

The Commercial Bank of Ceylon has become the first Sri Lankan bank to be a signatory to the Partnership for Carbon Accounting Financials (PCAF), a global initiative that enables signatories to measure and disclose the greenhouse gas (GHG) emissions associated with their financial activity.