Category: Business and Economy

The All Island Dairy Association (AIDA) has voiced grave concerns regarding the Sri Lankan government’s proposed increase in the Value Added Tax (VAT) from 15% to 18%, set to take effect on January 1st, 2024. This move, intended to broaden the tax base, could have severe repercussions for the dairy sector, a vital contributor to…

Janashakthi Insurance PLC, a member of the Janashakthi Group, announces the appointment of Dr. Gehan Gunatilleke as an Independent, Non-Executive Director to the Company’s Board of Directors, effective from 24th January 2024. Dr. Gehan Gunatilleke is an attorney-at-law and a founding partner of LexAG, a law firm based in Colombo. He has previously served as…

The Yancheng Low-Carbon & Smart Energy Industrial Park project has been awarded the 2023 Energy Globe World Award. Also known as the Net Zero Carbon Intelligent Campus project, it is a collaborative effort by the Yancheng Power Supply Company of State Grid Jiangsu and Huawei. The Energy Globe World Award is presented by a panel…

When Hindenburg Research accused the Adani Group of “brazen stock manipulation” and accounting fraud a year back, it led to a stock market rout that erased about $150 billion in market value at its lowest point. But unlike its previous targets, tycoon Gautam Adani, who was the world’s second-richest man before the damning January 24,…

hSenid Business Solutions (hBS) released its financial results for the quarter ending on December 31, 2023, reporting a 23 percent year-over-year increase in revenues. The PeoplesHR Cloud business, constituting 76% recurring revenue, remains the primary driver having recorded a 40% growth year-on-year. The Company achieved a critical milestone in its growth journey by surpassing $3…

Hayleys Aventura (Pvt) Ltd, a subsidiary of Hayleys PLC, recently hosted the inaugural Congress for Sustainable Materials 2024 at the Kingsbury Hotel, Colombo, with this year’s theme based on ‘The Future of Plastics & Packaging.’ The Congress showcased two distinguished panels, each representative of various industries such as Agriculture, Food, Packaging, Textiles, and Gloves in…

Consolidated power sale volume at 21.5 Billion Units (BU) in Q3 FY24, up by 82% from 11.8 BU in Q3 FY23 due to improved power demand and larger installed capacity. Adani Power Ltd. (APL), a part of Adani portfolio companies, recently announced the financial results for the third quarter ended at 31st December 2023. Commenting…

Celebrates 12 years of Excellence 98 Acres Resort and Spa, an elegant luxury boutique hotel, that stands on a scenic 98 acre tea estate, surrounded by a stunning landscape in Ella, recently commemorated its 12th Anniversary. 98 Acres Resort and Spa, a trailblazer in showcasing Ella as a top-tier destination, has also transformed the landscape…

Softlogic Information Technologies (Pvt) Ltd is a vibrant entity within Sri Lanka’s technological landscape, operating as a vital component of Softlogic Holdings PLC for the past 30 years. Further strengthening its credentials as a driver of innovation and transformation, Softlogic IT recently entered into a partnership with HID, a world-renowned leader in trusted identity and…

Alumex PLC, a prominent player in the aluminium extrusion industry, capped off an exceptional 2023 year with great successes, clinching over 14 awards in the past year, affirming their leadership in shaping Sri Lanka’s export landscape and commitment to governance, sustainability, and business excellence. At the 25th Presidential Export Awards 2023 Alumex received the coveted…