According to First Capital Research’s latest report, official reserves experienced a notable 23% increase in December 2023, boosted by disbursements from the IMF, World Bank, and ADB. This surge propelled reserves to USD 4.4 billion by year-end, reaching a three and a half-year high of USD 5.4 billion by April 2024. The Central Bank’s continued

During the first quarter of 2024, Bank of Ceylon showcased remarkable resilience, achieving a Profit Before Tax (PBT) of Rs. 9.3 billion, signaling its commitment in navigating challenging economic conditions. This substantial increase from the previous year’s performance underscores the bank’s dedication to maintaining stability amidst uncertainty. As Sri Lanka’s economy shows signs of moderate

A delegation of 30 members from the China National Garment Association (CNGA), led by Executive Vice President Xie Qing and Vice President/Secretary General of the Ningbo Garment Association, Mao Yihua, visited Sri Lanka on May 9, 2024. With over 1,400 major members, the CNGA represents leading apparel brands in China and aimed to enhance trade

Sampath Bank announced robust financial results for the first quarter of 2024, posting a profit before tax (PBT) of Rs 6.2 billion and a profit after tax (PAT) of Rs 3.4 billion. These figures represent growth rates of 39.1% and 27.8% respectively, compared to the same period last year, despite an exchange loss of Rs

Hatton National Bank PLC (HNB) announced a robust performance for the first quarter of 2024, recording a Profit Before Tax (PBT) of Rs 9.8 billion and Profit After Tax (PAT) of Rs 6.2 billion. Despite challenges posed by the pandemic, HNB’s Group level PBT and PAT stood at Rs 11.2 billion and Rs 7.4 billion,

Focus Brands, the brand licensing division of Hela Apparel Holdings PLC, has announced a strategic partnership with Tesco to introduce its Peter Werth and Fenchurch fashion brands across the UK. This collaboration builds upon Hela Group’s longstanding relationship with Tesco and marks the first time consumers will find these brands in Tesco stores, with an

The much-anticipated 11th edition of the ‘Sancharaka Udawa 2024’, organized by the Sri Lanka Association of Inbound Tour Operators (SLAITO), is scheduled to take place on May 17-18 at the BMICH. This event marks a significant milestone in the growth of the tourism industry in Sri Lanka. Birds Resort Hambantota has stepped up as the

The CFA Society Sri Lanka (CFASSL) celebrated academic excellence in financial management at the University of Jaffna’s 38th Convocation held on March 14. Rajendiran Radhadevi was awarded the prestigious CFA Society Sri Lanka- Gold Medal for the Most Outstanding Performance in the Degree of Bachelor of Business Administration Honours in Financial Management for 2021. Additionally,

Samson Rubber Products Pvt Ltd celebrated its 30th anniversary at the Galle Bataduwa main industrial complex, honoring employees with over 20 years of dedicated service. The company, with operations across three locations, specializes in producing solid tires and allied products for a variety of industries including material handling, construction, and aerial work platforms. The event

HNB PLC has entered into a new agreement with 3DH Building Solutions to promote and offer financing solutions for FMT Generators and GLARIE elevators. The signing ceremony, attended by representatives from both organizations, solidified the partnership, with HNB Head of Retail, Kanchana Karunagama, and Managing Director of 3DH Building Solutions, Hirantha Goonesekara, putting pen to