Covering the latest developments in the business world, including mergers and acquisitions, new product launches, executive changes, and company earnings reports.
Sri Lanka’s NDB Bank has announced a thrilling collaboration with Havelock City Mall as the official banking partner for the upcoming Avurudu season, celebrated from March 14th to April 21st, 2024. This partnership promises a season filled with festive cheer, exclusive deals, and exciting activities for NDB cardholders and visitors alike. Throughout the Avurudu period,
Synex International (Pvt) Ltd, a Sri Lankan company based in Kohuwela, has come a long way since its inception in 1999. Starting with a mere five employees, Synex has grown into a market leader in the Mechanical and Electrical Engineering (M&E) sector, boasting a local and international workforce of nearly 200. Founded by R.P.P. Senarathne,
Brandix, a leading Sri Lankan apparel solutions provider, stands out for its commitment to empowering women throughout their organization. With women making up 80% of their workforce, Brandix leads by example, translating policies into tangible actions. Their dedication is recognized globally. Brandix holds the distinction of being the largest employer of women in India and
Sanasa General Insurance Company is celebrating a remarkable achievement – a record growth rate of 53% in 2023. This impressive performance places them among the highest growing insurance companies in Sri Lanka. The growth surge extends across various insurance categories. Sanasa General Insurance witnessed a phenomenal 90% growth in fire and engineering insurance, a staggering
Sri Lanka and South Korea are set to enjoy a significant boost in travel connectivity thanks to a new codeshare partnership launched by SriLankan Airlines and Korean Air on March 15, 2024. This collaboration marks a major step forward, offering passengers a wider range of travel options and improved convenience. Highlighting the importance of this
The Home Lands Group of Companies, a leading Sri Lankan real estate developer, announced yesterday the launch of Home Lands (Melbourne) PTY Ltd. This marks a significant expansion for the company, establishing their first international venture in Australia. Located at 184 Whitehorse Road, Blackburn, VIC 3130, Home Lands (Melbourne) is a full-service real estate agency
Sri Lanka’s ongoing struggle to revamp its State-Owned Enterprises (SOEs) presents a crucial opportunity to learn from regional peers. As the nation embarks on a new round of reform attempts, a balanced approach that prioritizes both economic efficiency and security considerations is paramount. The cyclical nature of SOE reform efforts in Sri Lanka, historically driven
The Ceylon Chamber of Commerce (CCC) hosted its 20th Best Corporate Citizen Sustainability Awards (BCCS) ceremony, recognizing Sri Lankan companies for their commitment to environmental, social, and economic sustainability. The BCCS Awards serve as a cornerstone of the CCC’s efforts to promote sustainable practices within the Sri Lankan corporate sector. Chairman Duminada Hulangamuwa emphasized the
Sri Lankan pharmaceutical company Morison, formerly J.L Morison Son & Jones (Ceylon) PLC, is making significant strides in domestic drug production. Following a recent Rs. 400 million upgrade to their Mutwal facility and a substantial Rs. 4 billion investment in a new state-of-the-art plant in Homagama, Morison is poised to revolutionize the Sri Lankan pharmaceutical
The Würth Group, a leading global provider of assembly and fastening materials, has reached a historic peak, surpassing EUR 20 billion in annual sales for the first time. This achievement comes amidst a backdrop of global economic and political uncertainties, highlighting the company’s resilience and adaptability. According to preliminary financial statements for the 2023 fiscal