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BUSINESS

Dialog Axiata PLC net profit after tax Rs. 10.8 billion for FY 2017

Sri Lanka’s premier telecommunications service provider, Dialog Axiata PLC Friday announced its consolidated financial results for the financial year ended 31st December 2017 of the main company and the Dialog Axiata Group including subsidiaries Dialog Broadband Networks (D BILLION) and Dialog Television (DTV). On the backdrop of strong market performance …

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British Prime Minister appoints trade envoy for Sri Lanka

British Prime Minister Theresa May has appointed Ranil Jayawardena, MP, as her trade envoy for Sri Lanka. Jayawardena’s role as trade envoy will be to support and enhance the development of Britain’s trade and investment with Sri Lanka.   The Prime Minister’s Trade Envoy will be visiting Sri Lanka from …

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Financial discipline was totally ruined during the past regime

The Auditor General H. S. Gamini Wijesinghe says that since the former Secretary to the Ministry of Finance during the past decade has violated the financial regulations, the country became trapped in a severe debt crisis. At a press briefing held today at the Government Information Department in Colombo, Wijesinghe …

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Production of Mendis distillery comes to standstill

The license of W.M.Mendis Company has been withdrawn due to the non-payment of taxes, the Department of Excise announced. Accordingly, the production activities of the distillery had halted since last week, it is reported. The company belongs to Arjun Aloysius; the owner of Perpetual Treasuries Limited who was named as …

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Allianz to acquire Janashakthi General Insurance in Sri Lanka

Allianz, the global financial services leader, today announced that it has entered into an agreement with Janashakthi Insurance PLC (“JINS”) to acquire 100% of its subsidiary Janashakthi General Insurance Limited (“JGIL”) for LKR 16.4 billion (EUR 85.9 million). The transaction is subject to regulatory approval and is expected to complete …

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