AmCham Sri Lanka launched the first and second phase of its project titled ‘TRADESHIFTS: Opportunities for Sri Lanka from Global Supply Chains Shifts.’ TRADESHIFTS is an initiative of AmCham Sri Lanka in collaboration with the United States Agency for International Development (USAID) focused on identifying and attracting, increased export revenues to Sri Lanka, by capturing a...
Gains from government securities, foreign exchange swap trading and FX trading activities have enabled the Commercial Bank of Ceylon Group to mitigate to some extent the severity of the impacts of the COVID-19 pandemic on profits in a period of reduced interest income and substantially higher impairment provisioning compared to the corresponding quarter of the last year. The Group has reported ...
George Steuart Teas laid the foundation stone for a modern, state-of-the-art Tea processing and packaging facility in Thalwatta, Kelaniya. This complex will be built on a six-acre land extent and the building area will cover over 150,000 sq/feet. The facility will carry out tea and packing material storing, processing, blending, bagging and packaging. Furthermore the manufacturing ...
Hatton National Bank announced a landmark agreement with PROPARCO, the private sector funding arm of the French Development Bank Agence Française de Développement (AFD), to secure US$ 60 million in funding.
“We are delighted to enter into this long-term loan agreement with PROPARCO at such a critical juncture in the history of the global economy. This is the se...
With the festive season approaching, Kandy City Centre (KCC) took the initiative of spreading the joy of Christmas with the traditional cake mixing ceremony. The Christmas cake mixing ceremony was held at the World Spice Restaurant for the fifth consecutive year.
The event was graced by Chief Guest Thusitha Wijayasena, Chairman, KCC and his wife, Swarna Wijayasena.
With the COVID–19 pandemic, the Bank’s financial results suffered with low interest rates, restrictions on fee-based income, and subdued economic activities locally and globally. The Bank adopted a more conservative approach to making a significant amount of additional impairment provisions on foreign currency denominated government bonds and on loans and advances, which together ha...
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