Mark Surgenor appointed Chief Executive Officer for HSBC Sri Lanka
Mark Surgenor has been appointed as Chief Executive Officer of HSBC Sri Lanka and the Maldives from 1 December 2021. He succeeds Mark Prothero, who retired …
Industry
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Committee appointed to investigate recent incidents of LPG explosions
President Gotabaya Rajapaksa has appointed a Committee to look into the recent incidents of Liquefied Petroleum Gas (LPG) cylinder fires and explosions that …
“Dark future looming as foreign reserve drop to USD 1.5Bn, lowest in history” Eran
The opposition alleged in Parliament that foreign reserves have dropped to US 1.5 billion dollars which included the gold reserves of US 300 million dollars. …
National consensus on structural reforms needed to get out of economic crisis: Advocata
Sri Lanka is already in one of the worst economic crises in its history.The reforms are so difficult that no party will want to even contemplate let alone …
Aitken Spence Logistics to Build an additional 100,000 sq.ft. Container Freight Station
Aitken Spence Logistics recently embarked on commissioning a state – of – the – art, 100,000 sq. ft. container freight station at its main logistics …
New USAID 5-year, USD 19m project supports Sri Lanka’s renewable energy goals
On November 17, the United States Agency for International Development (USAID) announced its new $19 million, 5-year Sri Lanka Energy Program. Once finalized, …
JICA supports Bandaranaike International Airport expansions; new Apron & Taxiways to open
Prime Minister Mahinda Rajapaksha will open the new Apron and Taxiway constructed as a part of Bandaranaike International Airport Expansion Project on 25th …
Sri Lanka’s budget proposals weigh on insurers’ near-term earnings:Fitch
The Sri Lankan government’s proposal to introduce new one-off as well as recurring taxes on companies will likely constrain the near-term profitability of …
Sarvodaya Development Finance IPO oversubscribed on opening day
Sarvodaya Development Finance’s (SDF) Rs. 1 billion Initial Public Offering (IPO) was oversubscribed on the initial opening day, the company secretary said …
Alliance Finance raises Rs1Bn in subordinate debt to strengthen tier II capital
Alliance Finance Co PLC (AFC) has successfully raised LKR 1 billion in Tier II capital, with the aim of strengthening the regulatory capital of the Company to …
Commercial Bank wins ‘Best Corporate Citizen Sustainability Award 2021’ for first time
Commercial Bank of Ceylon PLC won the coveted ‘Best Corporate Citizen Sustainability Award 2021’ at an annual event organized by the Ceylon Chamber of …
ADB to take 8.5-pct stake in JKH via USD80Mn investment
John Keells Holdings PLC (JKH) yesterday announced the Asian Development Bank (ADB) will be taking up a 8.5 percent stake via a private placement with an …
Teejay Lanka achieves 81-pct emission reduction from sludge disposal
Invests Rs 90 million in Sri Lanka’s largest steam-powered paddle dryer Reduces GHG emissions by 2,326 tCO2e in one year Sri Lanka’s largest textile …
Sarvodaya Development Finance and Mitra Innovation work to build digital capabilities
Noting the potential of digitisation as a method of transforming ethical financing, Sarvodaya Development Finance (SDF) partnered with Mitra Innovation to …
INSEE cement enters MoU with State Ministry of Home Affairs
INSEE Cement entered into a Memorandum of Understanding (MoU) with the State Ministry of Home Affairs today, to enhance knowledge of modern engineering …
Wartime organic farming lessons for peacetime
By Jekhan Aruliah There is recent precedent in Sri Lanka for suddenly "going organic”. The Sri Lankan Civil War saw years of economic blockades and embargoes …
Sri Lanka@100 opens new application round for advisory services
Sri Lanka@100, a private sector-led business development platform supported by the United States Agency for International Development (USAID), announces its …
Hambantota Port first Sri Lankan Port to receive ISO Integrated Management System Standards
Hambantota International Port (HIP) was the recipient of ISO Integrated Management System standards for its quality, environmental consciousness and health and …
Flexicare unveils export-oriented medical devices manufacturing facility at Bandaragama
Flexicare Lanka – a fully owned subsidiary of Flexicare Group, U.K. – recently inaugurated its state-of-the-art manufacturing facility in Bandaragama which …
ACL Cables PLC posts 189-pct profits at end of Q2
ACL Cables PLC, Sri Lanka's No.1 cable manufacturer has posted a phenomenal 189% year-on-year profit increase at the end of its second quarter demonstrating …