Industry Analysis

Examining specific industries such as technology, healthcare, finance, and manufacturing, including trends, challenges, and opportunities within each sector.

the 10th year Anniversary of Nawaloka Medicare hospital at its state-of-the-art, seven-story facility in the heart of Negombo.
Healthcare

Nawaloka Medicare Celebrates 10 Years of Excellence, Honoring Deshamanya H.K. Dharmadasa, Who Has Been Featured on a Commemorative Stamp

  • December 5, 2024

Nawaloka Medicare (Pvt.) Ltd., Sri Lanka’s premium healthcare provider, recently celebrated its 10th anniversary at its state-of-the-art facility in Negombo, with the participation of Harshith Dharmadasa, Chairman of Nawaloka Medicare, and the Board of Directors. Since its opening in 2014, Nawaloka Medicare Negombo has set a high standard for healthcare, committed to providing top-tier medical

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Finance

Sri Lanka’s Central Bank Net Foreign Reserves Turn Positive in October 2024

  • December 4, 2024

Sri Lanka’s net foreign reserves moved into positive territory in October 2024, with reserves exceeding reserve-related liabilities by approximately 63 million US dollars, according to official data. This shift follows two years of deflationary policies supported by elevated interest rates. The country’s central bank had seen its reserves turn negative by 4.6 billion US dollars

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Finance

People’s Bank Records Rs. 6.4 Billion PAT for Q3 2024, Reflecting Strong Performance

  • December 2, 2024

People’s Bank has reported a profit-after-tax (PAT) of Rs. 6.4 billion for the third quarter of 2024, despite the challenging macroeconomic environment in Sri Lanka. For the nine-month period ending 30 September 2024, the bank posted a total consolidated operating income of Rs. 75.4 billion. Excluding the impact of exceptional adjustments due to ongoing debt

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Finance

Sri Lanka Bondholders Incentivized to Join Exchange, Says CB Governor

  • November 28, 2024

Holders of Sri Lanka’s defaulted sovereign bonds have been given sufficient incentives to participate in the exchange launched this week, according to Central Bank Governor Nandalal Weerasinghe. Governor Weerasinghe stated that bondholders have strong reasons to join the exchange, including exchange fees and the introduction of macro-linked bonds. These bonds offer capital appreciation and coupon

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Finance

Vallibel Finance Raises Rs. 3 Billion Through First-Ever Listed Debenture Issue

  • November 26, 2024

Vallibel Finance PLC has successfully raised Rs. 3 billion through its inaugural listed debenture issue, which concluded last week. The issue attracted overwhelming interest, with 92 applications seeking debentures worth Rs. 3.1 billion. The company issued 20 million listed, rated, subordinated, unsecured, redeemable debentures of Rs. 100 each, with an option to issue an additional

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Finance

Hela Apparel Holdings Reports 36.5% Revenue Growth in Q2 FY25

  • November 18, 2024

Hela Apparel Holdings PLC has reported a remarkable financial turnaround for the second quarter ending 30 September 2024, marking the return to operating profit for the first time in eight quarters. The company attributes this strong performance to the recovery in demand from key export markets and the successful outcomes of its ongoing restructuring efforts.

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Finance

NDB Reports Strong Profit Growth Amid Improving Economic Conditions in Sri Lanka

  • November 14, 2024

The National Development Bank PLC (NDB) has announced robust financial results for the nine months ending 30 September 2024, highlighting its resilience and strategic adaptability in an improving economic landscape. NDB Director/CEO Kelum Edirisinghe stated, “The positive trend in Net Interest Margins (NIMs), cost efficiency, and credit quality reflects our focused strategy to enhance shareholder

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Finance

Finance Companies Increase Treasury and Repo Investments Amid Vehicle Ban

  • November 13, 2024

Sri Lankan finance companies have substantially increased investments in government securities, repurchase agreements (repos), and unit trusts in the first half of 2024, as reported by the Central Bank. This shift comes as vehicle imports remain banned following the foreign exchange shortage that stemmed from inflationary rate cuts in 2020. The Central Bank’s report notes

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Finance

Sri Lanka Banks and SMEs Discuss Parate Law and Loan Issues

  • November 12, 2024

Sri Lanka’s banks, regulators, and small and medium enterprises (SMEs) gathered at the Presidential Secretariat to address challenges surrounding parate execution (foreclosure) laws and difficulties in loan repayments. A key focus of the meeting was the suspension of the law on parate execution, which governs the auctioning of collateral for defaulted loans. The law has

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Finance

Vallibel Finance to Raise Rs. 3 Billion via Debenture Issue

  • November 12, 2024

Vallibel Finance PLC has launched its inaugural listed debenture issue to raise Rs. 3 billion, marking a significant milestone in its funding strategy. The company will initially issue 20 million rated, subordinated, unsecured, redeemable debentures priced at Rs. 100 each, with the option to issue an additional 10 million debentures if the initial tranche is

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