CATEGORIES

President Ranil Wickremesinghe Calls for Urgent Debt Restructuring and Comprehensive Approach to Support Middle-Income Nations

President Ranil Wickremesinghe participating in a high-level panel discussion at the Global Leaders’ Summit for a New Global Financing Pact, in Paris, discussed the country’s experience with debt restructuring and the need for a comprehensive approach to address the challenges faced by middle-income nations.

Pan Asia Bank Records Steady Performance of Profit After Tax soars by 50 percent

Pan Asia Banking Corporation reflected a positive performance amidst a multitude of adversities emerging from challenging macro-economic conditions as the Bank reported its financial performance for 1Q2023, which showed judicious portfolio management and prudency exercised in dealing with possible fallout on its asset quality from a sharp increase in interest rates.

People's Bank reports consolidated profit after tax of 4.6 billion

People’s Bank announced the results for its March 31, 2023 quarter reporting total consolidated operating income and pre-tax profit amounting to 24.0 billion rupees and 7.2 billion rupees, respectively.

Walt Disney Spent $7.2bn on Advertising in 2022, $24.5bn in last 5 years

In the ever-evolving entertainment industry landscape, the Walt Disney Company (NYSE: DIS) has long been a powerhouse, characterized by a complex web of strategies and investments that fuel the company’s success. One aspect that has recently garnered attention is the company’s advertising expense, which has witnessed a notable increase over recent years.

US Content Creator Companies Raised $4B in Total Funding, 60% more than Asian and European Companies Combined

With more and more investors willing to cash in on companies working in the creator industry and helping content creators to grow and monetize their audience, the total funding amount in this market more than tripled in five years, rising from around $2bn to nearly $7bn. The US companies raised almost 60% of that value.

NSB Integrated Annual Report 2022 Presented to the President Ranil Wickremesinghe

National Savings Bank, the largest Licenced Specialised Bank in Sri Lanka is pleased to present its Integrated Annual Report themed \"Strengthening our Mettle\" reflecting its performance within the framework of the economy and its relationship to the social and environmental facets.

HNB Records 6.9 billion PAT in First Quarter of 2023

Following a turbulent year marred by the country facing its most profound economic crisis post-independence, Hatton National Bank made a resilient start to 2023, posting a PBT of 10.7 billion rupees, up 80 percent YoY, while PAT stood at 6.9 billion rupees in the first quarter, growing 42 percent YoY. The Group made a consolidated PBT and PAT of 11.3 billion rupees and 7.3 billion rupees, respectively.

President Meets Japanese Prime Minister

President Ranil Wickremesinghe expressed his regret to the Japanese Government for the suspension of the Colombo Light Rail Transit (LRT) project, which was being implemented with Japanese support.

Bitcoin Records Impressive 72.4% QoQ Gains, Emerges as Top-Performing Asset in Q1 2023

Over the past few months, Bitcoin (BTC) has experienced a surge in value that has left all other major asset classes trailing. Per a BitcoinCasinos.com report, the premier cryptocurrency had an impressive 72.4% quarter-over quarter gain in Q1 2023.

DFCC Bank Reports Strong Performance Amidst Heightened Economic Challenges

DFCC Bank reported a Profit Before Tax of 2,684 million and a Profit After Tax of 1,749 million for the March 31, 2023 quarter.

Prime Minister Narendra Modi Dedicates New Parliament House to the Nation

The Prime Minister, Shri Narendra Modi dedicated the new Parliament House to the nation. The Prime Minister installed the Sengol with Nandi at the top facing East-West direction in the new Parliament House. He also lit up the Diya and offered flowers to the Sengol.

Bank of Ceylon Ends the First Quarter of 2023 with Positive Notes

Bank of Ceylon has reported 3.3 billion rupees of Profit Before Tax for the three months ended March 31, 2023.

Sri Lanka signs Contract Agreement with Sinopec to Secure Fuel Supply

In a significant move to address Sri Lanka's fuel supply challenges, an agreement was signed with Sinopec, a leading international petroleum company.

President Ranil Wickremesinghe highlights Asia's Significance at the Nikkei Forum on the Future of Asia in Japan

President Ranil Wickremesinghe took the stage at the ‘Nikkei Forum: Future of Asia’ held in Tokyo, Japan. During his address, the President emphasized the Government’s approach to the Indian Ocean and Asia-Pacific regions.

The Collapse of Credit Suisse and Silicon Valley Bank: A Reckoning Moment for the Banking Sector?

The phrase \"The writing is on the wall\" means a looming disaster. It has an interesting genesis from the Babylonian kingdom of yore. It was a story of leadership missteps, immorality, and breakdown of rules.

Total Number of Content Creators jumped to over 200M in 2022, 53% make less than $100 a year

Over the years, the creator or influencer economy has skyrocketed, enabling individual creators, influencers, podcasters, TikTokers, and YouTubers to earn from publishing their content

Milinda Moragoda, Sri Lanka High Commissioner as Guest at the G20 Space Economy Leaders Meeting in India

India assumed the G20 I Presidency in December 2022 and will host the next G20 Summit to be held in September 2023

Three Crypto Firms land on the World's Top 10 leading Fintech Unicorns list

The fintech industry has been growing rapidly, with innovative technologies changing how financial transitions are conducted. One of the most intriguing developments in the space is the rise of cryptocurrency firms which are gaining increasing acceptance among investors and consumers alike to record enormous valuations

Top investing apps register 100 million downloads milestone

The rise of investment apps has been one of the biggest trends in the financial industry in recent years, with millions of people turning to mobile platforms to manage their money

Shopify, OnlyFans, and BitCloud Three Top-Grossing Creator Economy Companies in 2022 with $8.7B in Combined Revenues

Over the past years, the creator or influencer economy has boomed, enabling individual creators, influencers, podcasters, TikTokers, and YouTubers to make six-figure earnings from their businesses

Pathfinder Foundation Proposes a Medium and Long-term Strategy for the Economic Transformation of Sri Lanka with Indo-Japanese Collaboration

The Official Launch of the Report on “A Medium and Long-term Strategy for Indo-Japanese Collaboration to Support the Economic Transformation of Sri Lanka”, prepared by the Pathfinder Foundation with the assistance of a panel of experts, was held in Colombo. Ali Sabri, Minister of Foreign Affairs, was the event’s Chief Guest, with Gopal Bagley, High Commissioner of India, and Mizukoshi Hideaki, Ambassador of Japan, gracing the occasion

Samsung shipped 1.38 billion Smartphones in five years, 30% more than Apple

The world's two largest smartphone producers, Apple and Samsung, have been battling for their share in the global smartphone market for over a decade

NBA now allows Players to use Cannabis, removing Random Drug Testing for THC

The NBA made headlines when it was announced that the association would eliminate its ban on marijuana and remove random drug testing for the plant. The recent news is a significant step forward for both athletes and the cannabis industry

BUSINESS TODAY TOP 40 2021 - 2022

It’s the 25\" anniversary year of Business Today Awards. The Business Today TOP 40 companies were recognized for their resilience through challenging times to record growth and contribute to the country’s exchequer. The Awards Ceremony was held at the Presidential Secretariat. President Ranil Wickremesinghe was the Chief Guest. The Award Ceremony brought together politicians, distinguished dignitaries, and business corporates.

Today, Sri Lanka has Embarked on the Path of Renaissance

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