Examining specific industries such as technology, healthcare, finance, and manufacturing, including trends, challenges, and opportunities within each sector.
On October 1, 2024, People’s Bank marked World Children’s Day by relaunching its ‘Ethera Udana Minors’ Foreign Currency Account, now equipped with new features, at its headquarters. The event also saw the relaunch of the bank’s ‘Ethera Isura’ Personal Foreign Currency (PFC) account and People’s Remittance service. During the ceremony, new logos were unveiled for
Amana Bank has declared its seventh consecutive annual dividend, marking its highest payout to date, totaling Rs. 661 million. This represents a significant doubling of the dividend compared to 2023. The bank announced an Interim Cash Dividend of Rs. 1.20 per share to its shareholders, with a total of 551,125,746 ordinary shares issued as of
Siyapatha Finance PLC recently announced steady financial growth for the first half of 2024, ending June 30. The company achieved a profit after tax (PAT) of Rs. 513 million, marking a remarkable 189% increase compared to the same period last year. Profit before tax (PBT) also saw substantial growth, rising by 133% to Rs. 1,215
Dinesh Weerakkody, a highly regarded professional with extensive experience in the banking sector, has been appointed as the new Chairman of Union Bank of Colombo, following the resignation of Nirvana Chaudhary. Chaudhary will continue to serve on the Board as a Director. Union Bank is predominantly owned by Nepalese billionaire Binod Choudhary through Culture Financial
Tokyo Cement Company (Lanka) PLC has strengthened its Board by appointing two new Independent Non-Executive Directors, Mano Sekaram and Averil Anne Ludowyke. Both directors bring a wealth of experience from their respective industries, further bolstering the company’s leadership. Mano Sekaram, a tech entrepreneur and investor, has over 30 years of experience in the Sri Lankan
Dhammika Perera will rejoin the board of Hayleys Plc as Co-Chairman and non-executive director, effective October 1. Known as a philanthropist, strategist, and influential business leader, Perera has interests in industries such as manufacturing, banking, finance, leisure, plantations, and hydropower generation, according to a stock exchange filing by Hayleys. Perera currently holds 382,596,970 ordinary shares,
Sri Lanka’s central bank announced that it would maintain policy interest rates between 8.25% and 9.25%, citing the likelihood of deflation in the near term due to easing supply conditions and adjustments to administratively controlled prices. “The Board observed that inflation is likely to remain well below the 5% target over the next few quarters,
Sri Lanka’s apparel sector has surpassed the $3 billion mark in earnings, demonstrating impressive growth with a 22% year-on-year increase in August. According to provisional data released by Sri Lanka Customs, the sector’s export earnings for August reached $485.62 million. Exports to all markets have shown positive growth, with the United States seeing a notable
AIA Insurance has joined forces with HelpAge Sri Lanka, emphasizing its commitment to improving the lives of those in need. This partnership has resulted in the sponsorship of 10 cataract surgeries for underprivileged patients, providing them with the invaluable gift of sight. Cataract surgery is a transformative procedure that not only restores vision but also
CBL Global Foods Limited, a subsidiary of the CBL Group, has teamed up with the United States Agency for International Development (USAID) to enhance the coconut industry by boosting productivity and market access for small and medium-scale farmers. Supported by USAID’s CATALYZE Private Sector Development (PSD) food solutions initiative, this collaboration introduces advanced farming techniques