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Wed, 08 Apr 2020
The Colombo Tea Auction saw high demand for teas in its first-ever online auction kicked off last Saturday with prices soaring across all types of teas amid an uptick in global tea consumption.
Despite the negative growth largely expected for the first quarter, the Central Bank does not think the coronavirus pandemic will completely decimate the economy beset by the lockdowns and would still be able to register at least 3.0 percent growth f
In what could be termed as the most blunt message issued so far, the Central Bank Governor Prof. W.D. Lakshman today asked banks to pass on the announced relief measures to their customers forthwith or face legal action.
The Monetary Board of the Central Bank has decided to further reduce its key policy interest rates by 25 basis points (bps) in a bid to cushion the impact of COVID-19 to the island nation’s economy.
The Securities and Exchange Commission (SEC) yesterday asked brokers and margin providers to refrain from charging interest and to provide a moratorium for the investors who have purchased stocks on margin facilities.
The banking and financial services industry will kick off a number of efforts starting this week to push the country towards embracing digital transaction methods, a decision that was collectively taken by the sector together with the Central Bank to
The Colombo Tea Auction, the world’s oldest operational and largest single-origin tea auction, plans to conduct its next auction for the first time on an e-platform, aiming to avoid public gathering, to slow the spread of the coronavirus (COVID-19)
Sri Lanka’s merchandise export earnings for the months of January and February was US$ 1.93 billion, a 3.6 percent decline from the same period last year, according to an Export Development Board (EDB) statement relea
The government has requested all Board of Investment (BOI) companies to pay the March and April salaries of their employees despite measures taken to shut down some idling factories and send their workers who were stranded since curfew was imposed, h
Emirates ground crews around the world have bid farewell to their last operating flights back to Dubai. EK 005 to London Heathrow, which departed at 1605hrs on March 24 was the last flight to take off from Dubai. EK 262 from Sao Paulo, which landed a
The rubber exporters call the government to make it an essential service as the sector provides its products to the medical industry and agriculture sector.
The government has notified the public not to unnecessarily stock goods during the period the curfew is lifted, as there are ample stocks available in the market. Picture shows essential food items being unloaded at Sathosa outlets in Gampaha yesterd
As Sri Lanka is witnessing its economy coming to an almost stagnant state due to the unavoidable measures taken by the government to contain the coronavirus (COVID-19) outbreak, a leading economist in the country stressed the priorities of the politi
Sri Lanka yesterday signed agreements to receive a US $ 500 million concessional loan from China Development Bank (CDB).
Central Bank, Governor, Prof. W. D. Lakshman requests the financial institutions not to overreact to current disruptions to the economy amid the spread of the COVID-19 pandemic, while urging the banking sector to pass the benefit of the recent policy
As the government declared yesterday a public holiday with a view of preventing the spread of coronavirus across the country
In preparation to prevent coronavirus (COVID-19) entering the country from ships at ports, Sri Lanka Navy conducted a drill at the Colombo port on Friday. The Navy conducted the drill to rehearse the Standard Operational Procedure that could be adop
The Asian Development Bank (ADB) has allocated a US$ 600,000 grant from the Health System Enhancement Project to the Government of Sri Lanka to finance preventive and response efforts to fight a potential
Sri Lanka’s apparel sector has presented a paper assessing the possible impact of coronavirus (COVID-19) on the industry, which also contained proposed measures that would help safeguard the small and medium-sized industry players.
The local apparel sector, following a series of stakeholder consultations, has assessed that the immediate revenue loss for the industry due to the coronavirus (Covid-19) outbreak in China would be about US $ 510 million, which amounts to approximate
The Asian Development Bank (ADB) said yesterday the coronavirus outbreak is set to trim economic growth in developing Asia and around the world this year.
More than 3,200 people worldwide have died from the respiratory illness that can lead to pneu
The Central Bank (CB) said yesterday that Sri Lanka’s economic growth could slump to 3.5 percent this year from over 4 percent projected earlier as revenue from exports, tourism, remittances and logistics would be hit by the recent escalation of co
The representatives of Sri Lanka’s apparel sector will meet today to assess the impact of the coronavirus (COVID-19) outbreak on the industry, which is also in fear of going out of work in the immediate term, Mirror Business learns.
LankaClear, the operator of LankaPay denies recent rumours circulating in social media claiming that the security of ATMs of certain banks were compromised.
Norges Bank Investment Management, which manages Norway’s one trillion dollar Government Pension Fund Global, has increased its equity investments in Sri Lanka to US $ 114.4 million by the end of last year, compared to US $ 98.3 million at end-2018
Headline inflation as measured by the year-on-year (YoY) change in the Colombo Consumer Price Index increased to 6.2 percent in February 2020 from 5.7 percent in January 2020.
Sri Lankan authorities have expressed interest in a range of options for future engagement with the International Monetary Fund (IMF), but the specifics will be discussed after the next review in mid-April, the IMF
said on Thursday.
The announced minimum daily wage of Rs.1, 000 for plantation workers is unlikely to come into effect on March 1 as decreed by the government, as wage negotiations with plantation firms and trade unions are yet to make a breakthrough with only a day r
Sri Lanka’s largest private lender in terms of assets, Commercial Bank of Ceylon PLC, yesterday said it is looking to further expand its global footprint and is in the midst of exploring the potential of setting up operations in Africa.
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