Last Updated : 2020-07-04 14:12:00
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Sat, 04 Jul 2020 Today's Paper
9 hours ago
In order to develop villages, the banking service in the country should understand the rural economy and the needs of the people, President Gotabaya Rajapaksa emphasized.
03 Jul 2020
Vehicle registrations fell by nearly 40 percent during January through April as import controls went into effect from mid-March and the lockdowns prevented new registrations during April, according to Department of Motor Traffic data.
02 Jul 2020
The World Bank has announced Chiyo Kanda as the new Country Manager for Sri Lanka.
02 Jul 2020
The World Bank yesterday announced the appointment of Faris Hadad-Zervos as the World Bank’s new Country Director for Sri Lanka, the Maldives and Nepal, effective from July 1, 2020.
01 Jul 2020
State-owned banking giant Bank of Ceylon (BOC) is set to receive a fresh injection of US$ 300 million from multilateral lenders within the year, an influx that would assist in further strengthening the bank’s balance sheet.
30 Jun 2020
The businesses operating in the country are observed to be largely confused as to how they should chart their way forward in the post-lockdown scenario, as the relevant government authorities have failed to be clear in their directives and communication with the business community, with regards to international trade.
27 Jun 2020
As Sri Lanka looks for avenues to move towards a positive growth trajectory, the Ceylon Chamber of Commerce (CCC) stressed that an accelerated post COVID-19 recovery will be predicated on the effective execution of a public-private shared vision for economic revival and social sustenance.
26 Jun 2020
In its quest to continuously support Sri Lanka’s export industries and to keep the country connected with the global economy during the pandemic, the national carrier SriLankan Airlines has converted a wide-body passenger aircraft into a dedicated cargo aircraft.
24 Jun 2020
Premier blue chip John Keells Holdings PLC (JKH) has secured a US$ 175 million long-term finding line from IFC, a member of the World Bank to mainly fund the expansion of its supermarket chain and to refurbish/expand its hotel properties in Sri Lanka and Maldives.
23 Jun 2020
National carrier SriLankan Airlines expects to go forward as a leaner operation in the post-COVID-19 environment while trimming its debt exposure running into a billion dollars, according to its Chairman
22 Jun 2020
Merchandise exports for the month of May 2020 has bounced back to US$ 602 million, compared to the previous month of April, which was only US$ 277 million, according to Customs provisional statistics.
20 Jun 2020
President Gotabaya Rajapaksa this week met EU ambassadors at the Presidential Secretariat for discussions centered on rebuilding the Sri Lankan economy after passing the COVID-19 crisis.
19 Jun 2020
The depositors of The Finance Company PLC (TFC) staged a protest outside the Presidential Secretariat yesterday urging authorities to settle their payments immediately. The Central Bank on May 22 cancelled TFC’s licence to operate as a finance company owing to serious erosion of liquidity.
18 Jun 2020
Effective June 20, Etihad Airways will operate twice-weekly scheduled services for outbound passengers from Colombo, to key destinations on its global network via Abu Dhabi.
17 Jun 2020
As a way of saying ‘Thank You’ to Sri Lanka’s courageous healthcare workers, Cinnamon Hotels & Resorts is offering 1,000 complimentary full board holiday packages, for two nights at nine of its properties in Sri Lanka.
17 Jun 2020
In another drastic move, the Monetary Board of the Central Bank yesterday slashed the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of licensed commercial banks by 200 basis points to 2 percent.
16 Jun 2020
The government plans to formally announce the reopening day of the country’s coronavirus-battered tourism sector for foreign tourists, following a key stakeholder meeting tomorrow, which is likely to be August 1 or an even
15 Jun 2020
Sampath Bank PLC, one of Sri Lanka’s leading commercial banks, has successfully raised US$ 45 million via a medium-term syndicated facility.
13 Jun 2020
Sri Lanka is among top ten destinations that the outbound tour operators of Gulf Cooperation Council (GCC) countries are planning to actively promote from July when air travel returns with the relaxation of COVID-19 related restrictions, a survey conducted by Germany based Aviareps showed.
12 Jun 2020
In what could be termed as a long overdue regulatory reform to the country’s financial system, the authorities are now working to enact new laws to regulate the informal money lending business to protect people who often fall victim to those individuals and firms referred to as loan sharks.
11 Jun 2020
The construction activities of the multibillion dollar Colombo Port City (CPC) is expected to resume work in full swing from mid-July onwards, as more workers return to work with the gradual easing of COVID-19-related restrictions in
10 Jun 2020
The Central Bank flat out rejected the notion propagated by certain parties with ideological bias that attempt to always showcase money printing as bad and said those were the ones who were ignorant of the role of the Central Bank.
09 Jun 2020
The Colombo Port City will witness the injection of an additional investment with its project developing company, China Harbour Engineering Company (CHEC), coming forward to pump in a further
US $ 1 billion.
08 Jun 2020
Central Bank Governor Prof. W.D. Lakshman issuing a special statement yesterday assured the resilience of Sri Lanka’s financial system and all possible measures taken by the Central Bank to ensure the safety of the deposits of the general public.
05 Jun 2020
Standard Chartered announced this week that MAS Intimates (Pvt) Ltd., a division of MAS Holdings, became the first company in South Asia to complete a drawdown under the bank’s US$ 1 billion COVID-19 financing commitment.
04 Jun 2020
The Central Bank of Sri Lanka (CBSL) should take the responsibility when financial institutions approved by it and under its supervision go into bankruptcy, Prime Minister Mahinda
03 Jun 2020
Sri Lanka’s 52 key state-owned enterprises (SOEs) have reduced their combined losses substantially to Rs.2.4 billion in 2019, from Rs.28 billion recorded in 2018, due to the enhanced performance of Ceylon Petroleum Corporation (CPC), amid lower oil prices.
02 Jun 2020
Sri Lanka’s cumulative apparel exports in the first four months stagnated to US $ 1.25 billion, recording a 28.2 year-on-year (YoY) decline, after the historical contraction in April apparel export earnings as the COVID-19 pandemic paralysed the retail sectors in the key export markets.
02 Jun 2020
Sri Lanka’s trade deficit narrowed by US $ 43 million in March, driven by a sharp decline in imports amid the COVID-19 impact, decline in oil prices, import restrictions and low demand for export inputs, although export earnings recorded a sharper decline in percentage points compared to the import expenditure.
01 Jun 2020
The Central Bank has slashed its expectations for private sector credit for 2020 amid expected reduction in spending and investment activities by individuals and corporates alike due to coronavirus-induced economic and financial difficulties.
9 hours ago