Examining specific industries such as technology, healthcare, finance, and manufacturing, including trends, challenges, and opportunities within each sector.
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.
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
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
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
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
Sri Lanka’s apparel industry is making waves as a globally renowned hub for quality and innovative fashion manufacturing, embracing fully vertically integrated solutions that keep it at the forefront of retail fashion trends and quick replenishment capabilities. As a preferred production base for iconic global fashion brands, Sri Lanka has long held a competitive edge
Pan Asia Bank has officially launched Privilege Banking, an exclusive service designed for premier customers seeking a highly personalized and elevated banking experience. The launch event was held at the World Trade Center (WTC) Privilege Banking Centre, attended by Pan Asia Bank Chairman Aravinda Perera, Director/CEO Naleen Edirisinghe, corporate management, and other distinguished guests. Privilege
JAT Holdings PLC reported a robust 67% growth in Profit After Tax (PAT) for the first half of FY 2024/25, reaching Rs. 512 million by September 30, 2024. This growth comes amidst challenging conditions in Bangladesh and the Maldives, demonstrating the company’s resilience and commitment to delivering value to stakeholders. The Group’s Sri Lanka operations
The turn of the global monetary policy cycle this year, with rate cuts in the US, Eurozone, and other major economies, has significantly contributed to investor confidence and a relatively benign global macro and credit environment, according to Fitch Ratings in its latest Risk Headquarters report. However, geopolitical and political risks, deflationary pressures in China,
Sri Lanka’s rubber industry has set a target to double export income to USD 2 billion by 2030, up from the current USD 1 billion, announced Dr. Dilhara Edirisinghe, Head of the Rubber Technology and Development Department at the Rubber Research Institute of Sri Lanka. Speaking on the second day of the TechBiz Rubber Week