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Business Today Sri Lanka Magazine - September 2024

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In this issue

A conversation between two men whose names are synonymous with power and influence: Elon Musk, the tech visionary behind Tesla and SpaceX, and Donald Trump, the 45th President of the United States and a business magnate.

The name Podi Hamuduruwo evokes a sense of fondness towards its bearer, and it was rightly so with Venerable Galboda Gnanissara, the former chief incumbent of the Gangaramaya Temple in Hunupitiya Colombo, who passed away in August. He was an ever-present friend, cheerleader, helper, and advisor. With an attitude of ‘never say never,’ Venerable Gnanissara spoke the language of religion and business with equal fluency and candor.

Founded in the mountainous regions of Sinaloa, Mexico, Sinaloa Cartel grew from humble beginnings to become one of the most powerful and violent drug trafficking organizations in the world.

Cryptocurrency, a digital or virtual currency secured by cryptography, has rapidly evolved from a niche interest into a significant global financial instrument. With the emergence of thousands of different cryptocurrencies, the market has expanded and diversified, drawing attention from investors, governments, and technologists alike. As we stand at a pivotal moment in the development of cryptocurrency, this article explores the current state of the market, regulatory landscapes, technological advancements, and the challenges and future prospects that could shape the future of this dynamic industry.

Conversations Across the Stratosphere

The setting was Mar-a-Lago, Florida - a luxurious estate glowing under the soft light of a warm evening. Inside, the grand ballroom hummed with the chatter of America's elite, gathered for an exclusive event \"X\", Aug 13, 2024. Among them were two men whose names were synonymous with power and influence: Elon Musk, the tech visionary behind Tesla and SpaceX, and Donald Trump, the 45th President of the United States and a business magnate.

6 mins

Podi Hamuduruwo: Born to Lead

The name Podi Hamuduruwo evokes a sense of fondness towards its bearer, and it was rightly so with Venerable Galboda Gnanissara, the former chief incumbent of the Gangaramaya Temple in Hunupitiya Colombo, who passed away in August.

10+ mins

Google Search for 'buy gold' spikes 64 percent amid recession fears

Gold has been a particularly interesting asset since the start of 2024, thanks to its strong rally to a new all-time high and forecasts predicting it could rise to and beyond USD 3,000. However, interest in the commodity reached another level at the beginning of August.

3 mins

The Sinaloa Cartel: Rise, Fall, and the Enduring Influence of Mexico's Most Notorious Criminal Enterprise

In the annals of modern crime, few organizations have garnered as much infamy and fear as the Sinaloa Cartel. Founded in the mountainous regions of Sinaloa, Mexico, this cartel grew from humble beginnings to become one of the most powerful and violent drug trafficking organizations in the world. Its influence extends far beyond Mexico, affecting drug markets across the globe, from the United States to Europe, Asia, and even Africa. At the heart of this sprawling empire were two of the most elusive and feared men in the world: Joaquín \"El Chapo\" Guzmán and Ismael \"El Mayo\" Zambada. This comprehensive story charts the rise of the Sinaloa Cartel, the dramatic captures of its leaders, and the ongoing struggle for power within its ranks.

8 mins

Pan Asia Bank posts Steady Performance

Pan Asia Banking Corporation reported a steady performance reflecting improved macroeconomic conditions as the Bank reported its financial performance during the first half of 2024.

2 mins

The National Savings Bank recorded a Profit before Tax 15 billion for the First Six Months of 2024

National Savings Bank had already surpassed the previous year's profit after Tax (PAT) by the second quarter of this year. The Bank registered a PBT of 15 billion for the six months of 2024, whereas the PAT for 2023 was 7.21 billion rupees.

2 mins

DFCC Bank's Strong Financial Performance

DFCC Bank reported a Profit Before Tax (PBT) of 7,237 million rupees and a Profit After Tax (PAT) of 4,654 million rupees for June 30, 2024. The Group recorded a PBT of 8,342 million rupees and PAT of 5,739 million rupees for June 30, 2024 compared to 5,867 million rupees and 3,923 million rupees.

2 mins

SLT-MOBITEL reports Moderate Revenue Growth in the First Half of 2024

The company remains focused on leveraging its strategic initiatives to drive future growth and sustainability. With ongoing efforts to enhance operational efficiency and cost management, SLT-MOBITEL is well-positioned to navigate the evolving market landscape and deliver long-term value to its stakeholders.

2 mins

The Current State and Future Prospects of Cryptocurrency

Cryptocurrency, a digital or virtual currency secured by cryptography, has rapidly evolved from a niche interest into a significant global financial instrument. With the emergence of thousands of different cryptocurrencies, the market has expanded and diversified, drawing attention from investors, governments, and technologists alike. As we stand at a pivotal moment in the development of cryptocurrency, this article explores the current state of the market, regulatory landscapes, technological advancements, and the challenges and future prospects that could shape the future of this dynamic industry.

8 mins

Tokyo Cement Group is off to an Optimistic start in the Financial Year 24/25

Tokyo Cement Group (Tokyo Cement) reported a turnover of 11,665 million rupees and a Profit After Tax (PAT) of 707 million rupees for the first quarter ended June 30, 2024.

2 mins

Celebrating 24 Years of Empire Teas: A Journey of Dedication and Excellence

Empire Teas celebrates its 24th anniversary with a remarkable journey that showcases the Company's shared vision, hard work, and unwavering dedication.

1 mins

BOC Concluded 22.4 billion PBT in First Half of 2024

In the first half of 2024, Bank of Ceylon navigated the challenging landscape of the Sri Lankan economy with strategic foresight. Despite heightened competition and global economic uncertainties, BOC delivered a Profit Before Tax (PBT) of 22.4 billion rupees, a growth of 114 percent. This performance underscores the Bank's resilience and adaptability in an environment marked by fluctuating market conditions and challenges.

4 mins

NDB Posts Strong Profitability in the first half of 2024

National Development Bank continued to demonstrate strategic agility and resilience despite less-than-conducive operating conditions, as was reflected in its financial performance for the six months ended June 30, 2024. The Bank posted a pre-tax profit of 6.5 billion rupees for the period under review, an impressive growth of 58 percent, predominantly driven by healthy net interest income.

2 mins

Read all Stories from Business Today Sri Lanka

Business Today Sri Lanka Magazine Description:

Publisher: BT-Options

Category: Business

Language: English

Frequency: Monthly

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.