Category: Business and Economy

Wins Bronze in ‘Green Brand of the Year’ and Merit for ‘Best New Entrant’ 2023 Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited, proudly clinched two coveted awards at the prestigious Brand Excellence Awards, organised by the Sri Lanka Institute of Marketing (SLIM) to honour exceptional marketing efforts and outstanding brand stories. Hayleys…

Fems, the socially responsible feminine hygiene care brand by Hemas Consumer Brands, was bestowed with an array of highly-regarded excellence awards during 2023, emerging as one of the best product brands in the country. Its strategic execution of brand activities and ability to fulfill consumer needs innovatively has helped the brand to grow its market…

Socomec India, a leading global specialist in Low Voltage (LV) power management, has unveiled its ambitious expansion plan today. The Chennai-headquartered French powerhouse is set to venture into the markets of Sri Lanka, effective immediately. Termed as ‘Greater India,’ this strategic move consolidates into a unified business entity, marking a significant milestone for Socomec India…

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…