Business Tribune.lk

03/12/2023

A meeting took place today (03) between President Ranil Wickremesinghe and Mr. Bill Gates. The encounter occurred during the United Nations Climate Change Conference (COP 28), held in Expo City, Dubai.

21/10/2023

Saddened to report the passing of a business luminary today. Lalith Kotelawala, former Chairman of Ceylinco Consolidated, has left an indelible mark on the business world. Our heartfelt condolences to his family and the entire business community.

Rest in peace Sir!
🌟 "

02/10/2023

Former President Donald Trump arrived in Manhattan state court for the first day of a trial that could decide the fate of him and his New York business empire. State Attorney General Letitia James is arguing a civil case alleging widespread fraud and inflated net worth.

02/10/2023

Former President Donald Trump arrived in Manhattan state court for the first day of a trial that could decide the fate of him and his New York business empire. State Attorney General Letitia James is arguing a civil case alleging widespread fraud and inflated net worth.

02/10/2023

23/09/2023

14/09/2023

01/06/2023

24/05/2023

Minister of Power and Energy, Kanchana Wijesekara, announced significant reductions in electricity tariffs from July 1st.

Tariff adjustments aim to benefit domestic consumers, religious places, and the hotel sector.

Domestic electricity tariffs will be reduced by 23 percent, alleviating financial burden and improving affordability for households.
Lower electricity costs for households can lead to increased disposable income and contribute to economic growth.

Religious places will also receive a 23 percent reduction in electricity tariffs to support their activities and reduce operational expenses.

Lower electricity costs enable religious places to allocate more resources to community services and maintenance.
The hotel sector will experience a substantial reduction of 40 percent in electricity tariffs.

This reduction provides a competitive advantage for hotels, allowing them to offer attractive rates to domestic and international tourists.

Lower operational costs contribute to the growth, sustainability, and investment in the hotel sector.

The government's commitment to affordable energy access and supporting key sectors is demonstrated through the implementation of reduced tariffs.

The adjustments benefit domestic consumers, religious places, and the hotel sector, contributing to economic development and improving the quality of life.

08/04/2023

“John Keells Group’s Generous Contribution of Rs. 100 Million Breathes New Life into Suwa Seriya Ambulance Service”

https://www.businesstribune.lk/business-news/john-keells-groups-generous-contribution-of-rs-100-million-breathes-new-life-into-suwa-seriya-ambulance-service/

The John Keells Group has signed an agreement to contribute Rs. 100 million towards the Suwa Seriya Foundation, which operates the Suwa Seriya Ambulance Service in Sri Lanka. The ambulance service, w

21/03/2023

Key Takeaways from the IMF-Sri Lanka deal https://www.businesstribune.lk/business-news/key-takeaways-from-the-imf-sri-lanka-deal/

The International Monetary Fund (IMF) approved a $3 billion loan program for Sri Lanka to support its economy and urged progress in debt restructuring talks between the nation and its creditors.

04/02/2023

Why Sri Lanka rejected Tim Draper’s proposal to use Bitcoin to fix the economy👇

https://www.businesstribune.lk/business-news/why-sri-lanka-rejected-tim-drapers-proposal-to-use-bitcoin-to-fix-the-economy/

Sri Lanka's Central Bank has rejected Tim Draper's proposal to use Bitcoin to fix the economy. Draper, a billionaire venture capitalist, was met with opposition from the Central Bank Governor Nandala

17/11/2022

No Demestic debt restructuring- SFM Shehan Semasinghe

https://www.businesstribune.lk/business-news/no-demestic-debt-restructuring-sfm-shehan-semasinghe/

State Minister of Finance Shehan Semasinghe says that the government has not made any decision to restructure domestic debt since negotiations are still ongoing with external bilateral and commercial

17/11/2022

LAUGFS Lubricants enters the Bangladesh market

https://www.businesstribune.lk/business-news/laugfs-lubricants-enters-the-bangladesh-market/

Home-grown lubricant manufacturer LAUGFS Lubricants has entered the Bangladesh market. LAUGFS Lubricants has a blending plant located in Sri Lanka and holds Original Equipment Manufacturer (OEM)

05/11/2022

ComBank Recognised by ADB for👇🏾 bit.ly/3DZIOoD

Commercial Bank of Ceylon (ComBank) was recognised as the leading partner bank in Sri Lanka for trade and supply chain finance by the Asian Development Bank. ComBank recorded the highest number of tr

05/10/2022

05/10/2022

05/10/2022

Colombo Stock Exchange Today

03/10/2022

The Colombo Stock Exchange closed for the day 26 minutes early at 12.04 PM after the S&P SL20 index dropped over 5%.

26/09/2022

Convertibles – once a sign of open-air freedom and summer adventures – are increasingly fading away as companies shift to EVs and SUVs.
Sales of traditional drop-tops such as the Chevrolet Camaro and Ford Mustang as well as roadsters like the Mazda Miata have plummeted in the U.S. to less than 100,000 vehicles annually.
Other reasons for the decline of convertibles and roadsters include practicality, durability, cost increases and new panoramic sunroofs and glass tops, according to experts.
CNBC- FinanceLK

26/09/2022

Era of convertibles coming to an end?

https://www.businesstribune.lk/business-news/era-of-convertibles-coming-to-an-end/

Convertibles – once a sign of open-air freedom and summer adventures – are increasingly fading away as companies shift to EVs and SUVs.Sales of traditional drop-tops such as the Chevrolet Camaro

13/09/2022

Sri Lanka’s financial advisor has started Debt Restructuring talks with India, China and Japan https://www.businesstribune.lk/business-news/sri-lankas-financial-advisor-has-started-debt-restructuring-talks-with-india-china-and-japan/
…

Financial advisory group Lazard has started talks with India, China and Japan on restructuring Sri Lanka’s debt, a spokesman for the Sri Lanka government said on Tuesday, as the crisis-hit island n

13/09/2022

U.N. presses Sri Lanka to advance human rights, end the use of security laws to arrest protest leaders

13/09/2022

U.N. presses Sri Lanka to advance human rights, end the use of security laws to arrest protest leaders

https://www.businesstribune.lk/business-news/u-n-presses-sri-lanka-to-advance-human-rights-end-the-use-of-security-laws-to-arrest-protest-leaders/

COLOMBO, Sept 12 (Reuters) - Sri Lanka should improve human rights and strengthen institutions to tackle the humanitarian challenges that have sprung from its worst financial crisis in seven decades,

12/09/2022

$200m emergency assistance loan from ADB, $3m grant from Japan

https://www.businesstribune.lk/business-news/200m-emergency-assistance-loan-from-adb-3m-grant-from-japan/

COLOMBO, SRI LANKA, (9 September 2022) — The Asian Development Bank (ADB) and the Government of Sri Lanka signed a $200 million emergency assistance loan and a $3 million grant from the Japan Fund

02/09/2022

Combank.lk becomes top ‘Banking and Finance’ website in Sri Lanka

https://www.businesstribune.lk/business-news/combank-lk-becomes-top-banking-and-finance-website-in-sri-lanka/

Wins Silver at BestWeb.lk 2022 competition organised by LK Domain RegistryThe corporate website of the Commercial Bank of Ceylon has been recognised as the top ‘Banking and Finance’ website i

20/05/2022

ComBank becomes First Private Bank to Cross Rs 2 Trillion in Total Assets👇

businesstribune.lk/business-news/…

DFCC Group records Rs. 1.6 bn PAT DFCC Bank PLC, recorded a profit before tax (PBT) of Rs. 1,915 million and a profit after tax (PAT) ofRs. 1,479 million for the quarter which concluded as at March 31,2021. DFCC Bank PLC, also emerged profitable in the following areas: recorded a PBT May 8, 2021 Bus...

20/05/2022

HNB Crosses Rs 1.5 Trillion in Assets, Demonstrate Resilience Under Stressed Conditions

businesstribune.lk/business-news/…

DFCC Group records Rs. 1.6 bn PAT DFCC Bank PLC, recorded a profit before tax (PBT) of Rs. 1,915 million and a profit after tax (PAT) ofRs. 1,479 million for the quarter which concluded as at March 31,2021. DFCC Bank PLC, also emerged profitable in the following areas: recorded a PBT May 8, 2021 Bus...