Examining specific industries such as technology, healthcare, finance, and manufacturing, including trends, challenges, and opportunities within each sector.
Seylan Bank has launched Seylan Factoring, a new financial service designed to help businesses unlock funds by leveraging outstanding trade receivables. This service offers a fresh alternative to traditional lending by focusing on the quality of receivables and their collection process rather than broader repayment factors. Seylan Factoring enables clients to access up to 80%
Multi Finance PLC has officially merged with LB Finance PLC following the approval of a special resolution at an extraordinary general meeting held on June 28. The amalgamation was carried out in accordance with the Companies Act No. 07 of 2007, meeting all regulatory requirements. The Department of Registrar General of Companies (DRGOC) has validated
On Monday, the Asian Development Bank (ADB) and the Government of Sri Lanka signed a $100 million loan agreement for Subprogram 1 of a policy-based loan (PBL) aimed at supporting significant reforms in the country’s power sector. This loan is part of a broader $300 million programmatic approach PBL, which includes three subprograms designed to
Fitch Ratings has assigned Hatton National Bank PLC (HNB, A(lka)/Stable) a final National Long-Term Rating of ‘BBB+(lka)’ for its proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures, amounting up to Rs 12 billion. This final rating aligns with the expected rating assigned on April 4, 2024, following the receipt of documents confirming previously received information.
SLASSCOM, in collaboration with Deloitte, recently conducted an employability skills survey aimed at assessing the current skills landscape and evaluating the readiness of candidates from Sri Lankan universities and higher educational institutes for the IT industry. The survey included over 37 IT companies and over 80,000 IT professionals with more than 15 years of industry
DFCC Bank has announced an exclusive partnership with Home Lands Skyline (Private) Limited, aiming to transform the housing loan sector. The collaboration, formalized through a memorandum of understanding (MOU) signed on June 28th, will provide potential home buyers and real estate investors with enhanced benefits and streamlined loan solutions. The signing ceremony featured key figures
Browns Investments PLC has finalized its acquisition of Lipton Teas and Infusions’ businesses in Kenya and Rwanda, as confirmed in a disclosure to the Colombo Stock Exchange (CSE). The acquisition, executed through its fully owned subsidiary, B Commodities ME FZE, was completed on July 30, 2024. Under this acquisition, Browns Investments acquired 98.94% of shares
Sri Lanka Tourism Promotion Bureau (SLTPB) has been honored with the “Best International Tourism Board” award at the Global Tourism Awards 2024, held in New Delhi, India, on August 2. The annual Global Tourism Awards, organized by Travel World Online (TWO), recognize organizations that have made significant contributions to the tourism industry. This year’s event
HNB Finance has expanded its services with the introduction of three new Gold Loan Units in response to increasing demand. The new units are located at Mathara Road, Beliatta; Puttalam Road, Kurunegala; and Madampa Road, Kuliyapitiya. The openings were marked by significant attendance: Deputy General Manager and Credit Head Indunil Jayawardena inaugurated the Beliatta branch,
Richard Pieris Group, one of Sri Lanka’s largest and most diversified conglomerates, reported a Profit Before Tax (PBT) of Rs. 1.75 billion for the first quarter of the 2024/25 financial year. This represents a 281% increase from the Rs. 459 million recorded in the same period last year. This impressive performance underscores the Group’s resilience