Business Today Sri Lanka Magazine - March 2024

In this issue

Tying remuneration policies to drive the correct behaviour and corporate accountability is the lesson from a recent pay cut imposed on the CEO of a leading Singapore bank, DBS.

When M S M Rishard started Dinemore in 1997, he had a mission to serve the entire country, every Sri Lankan, provide the space for shared company and conversations, meet friends, and enjoy cheerful night outs.

Regarded as the poster boy of India’s fintech rush and start-up ecosystem, Vijay Shekar Sharma built Paytm into India’s largest digital payment platform and financial services provider.

As we venture into 2024, several countries have emerged as Leading contributors to the world of premium cannabis.

Prime Minister of India, Narendra Modi, President of Sri Lanka, Ranil Wickremesinghe and the Prime Minister of Mauritius, Pravind Jugnauth, jointly inaugurated the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, and also RuPay card services in Mauritius via video conferencing.

A shift of power we saw worldwide also happened in China, the largest smartphone market globally.

Although currently behind Bernard Arnault and Elon Musk, Jeff Bezos is one of the richest individuals in the world.

According to data compiled by Finbold, from 2000 to 2024, JPMorgan incurred fines totaling USD 39.34 billion for various violations.

DBS Debacle and Accountability

Tying remuneration policies to drive the correct behavior and corporate accountability is the lesson from a recent pay cut imposed on the CEO of a leading Singapore bank.

5 mins

Sri Lanka's Best Corporate Citizen continues to Record Sustainable Performance

Hatton National Bank (HNB) showcased strong and sustainable performance in 2023 in all aspects, namely liquidity, asset quality, capital, efficiency and profitability amidst global and local economic uncertainties.

2 mins

How much Money does Bernard Arnault make a Second?

The chairman and CEO of LVMH Moët Hennessy Louis Vuitton SE, Bernard Arnault is currently the wealthiest individual globally, with a staggering net worth of USD 228.3 billion.

3 mins

HNB enters MoU with SLAF and Agro World

HNB announced its strategic partnership with the Sri Lanka Agripreneurs' Forum (SLAF) and Agro World, which aimed to empower small and medium scale farmers participating in the Smart Village Program.

1 min

People's Bank celebrates 76 years of Independence by offering gifts to Newborns

People’s Bank celebrated Sri Lanka’s 76th National Independence at a modest ceremony followed by a series of island wide initiatives.

1 min

People's Bank and Hayleys Agriculture Form Strategic Alliance for Agricultural Advancement

People's Bank and Hayleys Agriculture Holdings have entered into a strategic Memorandum of Understanding (MoU) aimed at fortifying Sri Lanka's agricultural landscape.

1 min

President Ranil Wickremesinghe and Prime Minister of Thailand Srettha Thavisin Forge Historic Ties, Sign Landmark Trade Agreement

Iam incredibly pleased to welcome Prime Minister Thavisin and the accompanying high-level delegation to Sri Lanka, including the Deputy Prime Minister, Minister of Commerce, and the Deputy Minister of Foreign Affairs.

5 mins

Ten Countries with The Best Weed in The World 2024

As we venture into 2024, several countries have emerged as Leading contributors to the world of premium cannabis.

5 mins

The Dynamo of Dinemore

Very few may know the story of Dinemore, one of the most popular semi-fast food restaurants in Sri Lanka, entirely home-grown with a global footprint. Very few may know that one man’s ambition to start his restaurant spurred the eating-out culture in Sri Lanka and saw the‘submarine’ finally land on our plates. When M S M Rishard started Dinemore in 1997, he had a mission to serve the entire country, every Sri Lankan, provide the space for shared company and conversations, meet friends, and enjoy cheerful night outs. His long and untiring journey of 27 years ago is inspiring. The hands-on leader and multitasker who led from the front, cooked, served, and opened the door to patrons knew the ropes of his business inside and out. Speaking with Business Today, he described his journey to success, his constant desire to learn and grow, investing in quality and giving value for money, his desire for every Sri Lankan to savor the pleasure of dining out, and how his business has become a valuable entity contributing to the country’s reserves and generating employment by prioritizing its investment decisions for maximum gains and sustainability.

10+ mins

DFCC Bank Resilient Amidst Economic Headwinds

DFCC Bank reported a Profit Before Tax of 10,960 million rupees and a Profit After Tax of 7,220 million rupees for the year ended December 31, 2023.

3 mins

People's Bank Walasgala Branch moves to an Enhanced New Location

People's Bank Walasgala Branch was declared opened at a new and enhanced location.

1 min

People's Leasing & Finance Wins Best Commercial at Sumathi Awards for 'Api Eka Karale Wee' Campaign

People's Leasing & Finance (PLC) received the Sumathi Award for Best Commercial of the Year at the 29th Sumathi Awards 2024.

1 min

People's Bank Empowers Women Entrepreneurs

Celebrating International Women's Day, People's Bank, announced its commitment to women's empowerment through impactful initiatives.

1 min

Paytm's Unravelling: Will it Break This Time or Make it Again?

Regarded as the poster boy of India’s fintech rush and start-up ecosystem, Vijay Shekar Sharma built Paytm into India’s largest digital payment platform and financial services provider. However, today, his empire is under scrutiny for repeated regulatory breaches and non-compliance as the Indian central bank has swooped down on its activities and imposed restrictions to ensure that the fintech ecosystem thrives in the world’s fifthlargest economy rather than take a blow on questions of trust and integrity.

6 mins

JPMorgan Fined Nearly $40 billion for two-decade Legal Oversights

Banking giant JPMorgan Chase (NYSE: JPM) has suffered financial B and possible reputational setbacks due to a series of legal oversights stemming from the firm's failure to adhere to regulatory requirements.

3 mins

PLC Achieves Remarkable 30.8 percent PAT Growth Amid Dynamic Market Conditions in Q3 2023/24

People's Leasing & Finance (PLC), reported robust financial performance for the third quarter of fiscal year 2023/24, indicating positive growth and stability amidst a competitive marketing environment.

1 min

Ten Pro Athletes That Love Weed As Much As You

These are some of the most famous stoner athletes of all time.

6 mins

HNB and Hayleys Agriculture Empower Farmers with Convenient Access to Agri Machinery

HNB has entered into a collaborative partnership with Hayleys Agriculture, offering a comprehensive array of benefits and attractive leasing packages for various agricultural machinery.

1 min

Read all stories from Business Today Sri Lanka

Business Today Sri Lanka Magazine Description:

The magazine of the corporate world, Business Today features an interesting line-up of interviews with eminent personalities who impact the corporate, commercial and economic sectors. The monthly magazine also includes exclusive articles syndicated from the Harvard Business Review and Financial Times. It has also featured the monthly columns by Richard Branson and Howard Schultz. International interviews featured include Sir Richard Branson, Paul Allen, Howard Schultz, Omar Bin Laden and Sir Jonathan Ive. Articles penned by President Barack Obama and Vice President Joe Biden Jr. have also been featured in the magazine.