Richard Pieris Group’s 1H pre-tax profit expands 184% to Rs.3.6bn

Richard Pieris Group, one of Sri Lanka’s largest and most diversified conglomerates, recorded a profit before tax (PBT) of Rs.3.59 billion in the first six months of the FY25, recording a significant profit growth of 184 percent over the corresponding period from the last financial year where the company recorded a PBT of Rs.1.26 billion. The group’s performance for 2Q is a continuation of the progress it demonstrated in 1Q of the current financi

Assetline Finance offers financing for brand-new BAIC X55

Assetline Finance Limited, a leading financial services provider, offers flexible and customised financing solutions for Sri Lankan customers interested in purchasing the newly launched BAIC X55.

First Capital’s 1H profit sinks as market conditions shift

First Capital Holdings PLC reported a sharp decline in profitability for the first half of the 2024/25 financial year, with the total comprehensive income dropping to Rs.904 million, from Rs.9.58 billion a year earlier. The fall was attributed to the absence of an extraordinary gain recorded in the prior year, which benefited from a steep decline in interest rates, following the domestic debt optimisation.

NDB Leasing introduces lower rentals

NDB Bank believes that owning one’s dream vehicle should be a hassle-free and affordable experience. Therefore, it has redefined leasing with NDB Leasing, offering lower rentals than the market average for both registered and unregistered vehicles, making one’s dream vehicle more accessible than ever before.

DFCC Bank secures dual wins at SLIM DIGIS 2.4

DFCC Bank has been honoured with two prestigious awards at SLIM DIGIS 2.4, Sri Lanka’s leading digital marketing awards event, highlighting its commitment to digital transformation and innovative customer engagement.

ComBank unveils biggest card promo to date

Up to 50% off on ComBank credit and debit card purchases at 4000+ retail outlets this season

Dialog Relaunches Swarna Shakthi, Sri Lanka’s Largest Retailer Reward Programme

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has relaunched its flagship Swarna Shakthi loyalty programme, now the largest retailer reward initiative in the country. For the first time in Sri Lanka, this programme offers an end-to-end digitized gift redemption process, fully integrated with the WOW Super App. This significant enhancement is set to reward over 120,000 retailers with gifts valued at over LKR 350 million, featuring a cur

Sri Lanka showcases innovation and technology at Thailand Smart City Expo 2024

The Embassy and Permanent Mission of Sri Lanka in Thailand, in collaboration with the Sri Lanka Export Development Board (EDB), organised Sri Lanka’s participation at Thailand Smart City Expo 2024, held from November 6-8, 2024, in Bangkok.

Principals’ union presents Education IT Project report to NW Governor

All Ceylon Government Principals Union President S.M. Saman Palitha Senarath presented the Education Information Technology Project report to North Western Province Governor Tissa Warnasuriya, at the Governor’s Office.

HealthRecon Connect opens new Kandy office

HealthRecon Connect (HRC), a leader in revenue cycle management solutions, has opened a new office in Kandy, as part of its strategic global expansion.

Enhancing your financial literacy with CSE Education Academy Exploring shares, equity capital and going public

As you advance in your investment journey, understanding the core components of equity investment is crucial. Building on the foundational concepts covered in column two last week, this instalment explores why shares are a strong investment, difference between equity and debt capital and what going public entails.

CIPM delegates attend CIPD Annual Conference in UK

The CIPD Annual Conference and Exhibition (CIPD ACE) 2024, which was held in Manchester, UK, brought together over 7,000 HR professionals, business leaders and thought leaders from around the world for an engaging and transformative event.

HIP has potential to become SL’s ‘diamond in the crown’, says Shippers’ Council

The Sri Lanka Shippers’ Council (SLSC), led by its executive committee, conducted a comprehensive visit to the Hambantota International Port (HIP) recently, emphasising its critical role in Sri Lanka’s future economic development.

Chartered Shipbrokers Institute honours Delmege’s Praveen Jayatilleke

Praveen Jayatilleke of Delmege Forsyth & Co. (Shipping) Ltd, Colombo, was recently honoured at the annual prize-giving ceremony of the Institute of Chartered Shipbrokers, held at One Moorgate Place, London, United Kingdom. Jayatilleke received the award for achieving the highest marks in the subject of ‘Liner Trade’, highlighting his dedication and expertise in the field.

Fitch downgrades SL’s Oxford College of Business to ‘BBB+(lka)’; Outlook Negative

Fitch Ratings has downgraded Sri Lanka-based Oxford College of Business (Private) Limited’s National Long-Term Rating to ‘BBB+(lka)’, from ‘A(lka)’. The Outlook is Negative.

Data consumption surges 11% despite decline in fixed broadband subscriptions: CAL

Sri Lanka witnessed an 11 percent increase in data consumption in the first nine months of this year, despite the decline in fixed broadband subscriptions, according to Capital Alliance (CAL) Research.

Sri Lanka ranked 4th globally for entrepreneurial growth

Sri Lanka has made remarkable progress in promoting entrepreneurship, as the country has been ranked fourth on the Global Entrepreneurial Network (GEN) Leaderboard, according to the Information and Communication Technology Agency (ICTA).

Global Entrepreneurship Week 2024 kicks off across all 25 districts

Sri Lanka yesterday officially kickstarted the Global Entrepreneurship Week (GEW) for 2024, under the theme ‘Entrepreneurship is for Everyone’, at a launch event held at the Ceylon Chamber of Commerce in Colombo.

Tourist arrivals cross 100,000 mark in first 17 days of November

The tourist arrivals to the island nation crossed the 100,000 mark within the first 17 days of the month, the provisional data from the Sri Lanka Tourism Development Authority (SLTDA) showed.

October tea production dips 8% YoY

Sri Lanka’s tea production for October 2024 fell to 21.15 million kilogrammes, down 8 percent, from 23.00 million kilogrammes recorded in the same month last year, the industry data showed yesterday.

Prof. P.N.D. Fernando assumes duties as new Chairman of People’s Bank

People’s Bank yesterday saw Prof. P.N.D. Fernando officially taking over as Chairman of the entity, at a ceremony held at the entity’s head office, which was attended by the senior management.

Turnover crosses LKR 5 Bn

The ASPI closed in green as a result of price gains in counters such as Commercial Bank, Hatton National Bank and Aitken Spence with the turnover crossing Rs. 5.5 Bn. Meanwhile, the S&P SL20 edged up.

Market starts bullish following parliamentary election

The secondary market commenced the week with a noticeable shift, moving away from the subdued sentiment of the previous week as the secondary market experienced relatively high trading volumes amidst the increased market activity. As a result, the secondary market yield curve edged down significantly across all the maturities.

People’s Insurance poised to become formidable player in industry

People’s Insurance PLC (PI) has emerged as a powerful player in Sri Lanka’s insurance landscape in 2024, showcasing outstanding growth and strategic progress.

Mercantile Investments expands with new branches in Kekirawa and Vavuniya

Mercantile Investments marked a milestone in its expansion journey with the recent openings of two new branches in Vavuniya and Kekirawa, emphasizing the company’s commitment to enhancing financial accessibility across the region.

EO Sri Lanka’s 2024-2025 Board takes office

The Entrepreneurs’ Organization (EO) Sri Lanka ushered in a new chapter of leadership with the appointment of the 2024-2025 board.

SLIM National Sales Awards 2024 receives record-breaking number of entries

The National Sales Awards (NSA) 2024 organised by the Sri Lanka Institute of Marketing (SLIM) has reached a record-breaking milestone in receiving the highest number of entries thus far.

Plus94 expands in Sri Lanka with new Colombo office

Singapore-based private equity firm Plus94 has solidified its presence in Sri Lanka with the inauguration of a new office at Union Place, Colombo.

Dialog Relaunches Swarna Shakthi, Sri Lanka’s Largest Retailer Reward Programme

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has relaunched its flagship Swarna Shakthi loyalty programme, now the largest retailer reward initiative in the country.

Switzerland hands over 14-year Safe Labour Migration Programme to Sri Lankan govt.

The Government of Switzerland, through the Swiss Agency for Development and Cooperation (SDC), has successfully concluded the Safe Labour Migration Programme (SLMP) in Sri Lanka after 14 years of dedicated support.