Examining specific industries such as technology, healthcare, finance, and manufacturing, including trends, challenges, and opportunities within each sector.
Hatton National Bank PLC (HNB) has announced the successful oversubscription of its debenture issue aimed at raising Rs. 12 billion. The bank offered Basel III compliant, Tier 2, listed, rated, unsecured, subordinated, redeemable debentures with a non-viability conversion feature, priced at Rs. 100 each. The issue included 120 million debentures with 5-year (2024/2029), 7-year (2024/2031),
Technocity Pvt Ltd made a notable impact at ‘Computex 2024’ in Taiwan, marking a significant step forward in technological advancement. Computex 2024, renowned for being a leading AIoT and startup exhibition, focused on the theme “Connecting AI.” The event highlighted six major themes: AI computing, advanced connectivity, future mobility, immersive reality, sustainability, and innovations, with
SLT-Mobitel has demonstrated resilience in the first half of 2024, reporting moderate revenue growth alongside significant improvements in profitability. For 1H2024, the group’s revenue reached Rs.53.5 billion, reflecting a 1.6 percent increase from the previous year. Gross profit grew by 4.0 percent to Rs.20.9 billion, with the gross profit margin expanding to 39.0 percent. Despite
Vallibel Finance has recently expanded its network across Sri Lanka by opening new branches in Medawachchiya, Battaramulla, and Nittambuwa. These new locations will provide enhanced access to quick and efficient financial services for customers in both the Northern and Western Provinces. The branch openings were celebrated in the presence of Managing Director Jayantha Rangamuwa, along
The Rootcode Foundation inaugurated a new computer lab at Mawathgama Kanishta Vidyalaya on August 4, 2024, marking its second major initiative to empower underprivileged students through technology education. As the impact arm of Rootcode, the Foundation is committed to transforming underprivileged schools across Sri Lanka by providing students with the skills and resources needed for
Union Bank has appointed Mr. Dilshan Rodrigo as its new Director/Chief Executive Officer, effective August 16, 2024. With over two decades of experience in the banking sector, Mr. Rodrigo’s leadership marks a pivotal moment for Union Bank as it seeks to navigate Sri Lanka’s evolving banking landscape and focus on innovation and customer-centric strategies in
Bank of Ceylon (BOC), Sri Lanka’s leading financial institution, has proudly announced its inclusion in The Banker magazine’s esteemed list of Top 1000 World Banks for 2024. BOC stands as the only Sri Lankan bank to secure a place on this prestigious list, marking another milestone during its 85th anniversary celebrations. As a cornerstone of
Dialog Axiata PLC’s performance for the quarter ending June 2024 was disappointing, with a decline in revenue and increased overhead costs impacting the group’s operating results. The company reported a revenue of Rs. 40.9 billion for the April–June period, marking an 11.7 percent decrease compared to the same quarter last year. The drop in revenue
Sri Lanka’s positive economic growth, seen in early 2024, is likely to continue, supported by low inflation and a stable exchange rate, according to Central Bank Governor Nandalal Weerasinghe. In the first quarter of 2024, the country’s economy expanded by 5.3 percent, as estimated by the state statistics office. Speaking at an international forum organized
Fitch Ratings has upgraded the national long-term rating of Habib Bank Limited – Sri Lanka Branch (HBLSL) to ‘AA-(lka)’, up from ‘A(lka)’. The outlook for the rating is stable. This upgrade follows the improved credit profile of HBLSL’s head office, Habib Bank Limited (HBL) in Pakistan, due to the recent upgrade of Pakistan’s sovereign rating.