CSE wants listed firms to disclose COVID-19 impact

Sri Lanka’s listed firms are now required to disclose the impact of the COVID-19 pandemic on the business/operations as well as the response to the impact and anticipated impact on the future operations and financial condition, to the Colombo Stock Exchange (CSE).

Condominium developers call for resumption of activities with relief attached

The country’s condominium developers have requested permission to return to work and resume their construction projects, which are stalled due to the lockdowns, as soon as practically possible and expect relief from the government.

Ceylinco Life donates ventilators to combat COVID-19

Ceylinco Life donated two high-end non-invasive ventilators to the government to support efforts to treat people infected by COVID-19.

Dialog extends critical connectivity solutions to IDH Hospital

In an effort to support medical professionals and essential medical services during the ongoing COVID-19 crisis, Dialog Axiata PLC extended free critical connectivity solutions for video conferencing facilities and Internet access to support the medical staff at IDH - the central healthcare institution spearheading the control of COVID-19 outbreak in the country.

CIPM makes donation to COVID-19 Relief Fund

CIPM made a donation of Rs. 1 million to President’s National Covid-19 Relief Fund in support and solidarity of the relief measures that need to be rolled out to successfully manage and overcome the current situation brought about by the global pandemic.

Pelwatte conducts CSR projects, launches free home delivery during curfew

Pelwatte, the leading local dairy manufacturer, has initiated several CSR and consumer reach projects that conjuncts the company as a strong stakeholder in the Sri Lankan government’s initiative to sustain the COVID-19 crisis.

Post COVID operations of wildlife parks in Sri Lanka – A new start?

The current ongoing COVID-19 pandemic has brought tourism and leisure travel to its knees. With extended curfews and strict restrictions of movement, almost all establishments have been shut.

Retraining for growth

The purpose of this article is to suggest how Sri Lanka can benefit from the obvious need for social support in the context of ‘COVID-19’.

Managing labour crisis post- COVID 19

The economic and labour crisis created by the COVID-19 pandemic has increased global unemployment by almost 25 million, according to a new assessment by the International Labour Organization (ILO).

CCC calls for broad economic recovery plan

The Ceylon Chamber of Commerce (CCC) has called for a broad economic recovery plan based on a shared vision of public and private sectors aimed at an accelerated post-COVID-19 recovery of the country’s economy.

Export Development Board confident export sector will steer country out of COVID-19 crisis

The Export Development Board (EDB) yesterday renewed its call to the government and the business community to give utmost prominence to local exports and stressed it is imperative to recognize the sector as the nation’s top priority as the country appears to have contained the spread of coronavirus successfully.

Asia Securities forecasts dour economic effects from COVID-19; but expects benign inflation through 2020

The research team of Asia Securities has forecast that the COVID-19 pandemic’s toll on Sri Lanka’s economy to be dour through 2020 with many of its macroeconomic forecasts pointing to some daunting numbers.

IMF approves US$ 1.39 bn in emergency pandemic aid for Pakistan

The International Monetary Fund said its executive board had approved US$ 1.386 billion in emergency financing to Pakistan to meet balance of payments needed stemming from the novel coronavirus pandemic.

CSE issues ‘Guidance Note’ for listed entities on holding AGMs

The Colombo Stock Exchange (CSE) has published a ‘Guidance Note’ for listed entities on possible list of alternatives for hosting their Annual General Meetings (AGMs) in light of the COVID-19 pandemic, responding to concerns that holding physical meetings may add to the risk of spreading the disease.

EU helps protect weak firms from foreign takeovers

The EU plans to help block foreign takeovers of European companies struggling with the virus downturn. It wants to allow governments to invest in weak companies, which could include some form of ownership.

Abu Dhabi borrows US$7 bn as low oil price bites

The emirate of Abu Dhabi said yesterday it had sold US$ 7 billion of bonds in the third major sale this month by Gulf sovereigns seeking to counter slumping oil prices. OPEC kingpin Saudi Arabia last week raised US$ 7 billion in a bond sale, while gas-rich Qatar sold bonds worth US$ 10 billion two weeks ago.

French retailer Fnac Darty gets 500 mn euro state loan

Electronics retail giant Fnac Darty announced yesterday it had secured a 500 million euro loan guaranteed by the French state “to secure cash flow” and prepare for recovery after the coronavirus crisis.

Talal Rafi joins Forbes Business Council

Forbes Magazine appoints Talal Rafi as a member of the Forbes Business Council.

Unilever Sri Lanka commits Rs.35mn towards COVID-19 relief efforts

Unilever Sri Lanka has committed a sum of Rs.35 million towards the national efforts to tackle the coronavirus (COVID-19) pandemic in Sri Lanka.

Dialog gives all mobile customers free emergency relief data, voice and SMS

To ensure that Sri Lankans across the country stay connected during these unprecedented times and to further assist the customers who are unable to pay and use their mobile connection during the curfew period, Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, now provides a special seven-day pack, comprising one GB Anytime Data, 250 D2D SMS and 250 D2D voice minutes, for all its mobile customers.

Ceylinco Life offers ‘contactless’ life insurance, retirement plans during lockdown

Life insurance protection or an investment in retirement that can be obtained in a matter of minutes without venturing out of one’s home is the latest response of Ceylinco Life to the COVID-19-mandated lockdown.

HNB partners with Pick Me to offer free delivery services to customers

HNB PLC announced a partnership with Pick Me to provide all its customers with free delivery through the service provider’s app.

‘Ten new realities’ and opportunities in Sri Lanka as a result of COVID-19

Over the last few weeks, there have been many discussions, ideas and content on the impact of COVID-19 on businesses and the economy in particular.

Pathfinder sets up eminent panel to prepare post-COVID economic strategy for Sri Lanka

The Pathfinder Foundation has set up a study group chaired by Pathfinder Senior Fellow and former Central Bank Governor Dr. Indrajit Coomaraswamy to prepare a set of action-oriented recommendations aimed at steering the Sri Lankan economy into the post-COVID-19 era.

Samsung extends warranty on all consumer electronics and mobile products

Demonstrating concern for the well-being of the customers and to promote them to stay indoors safe as the nation fights the coronavirus pandemic, Samsung Sri Lanka is extending the standard warranty for one month on all Samsung products for those customers whose warranty is expiring during this lockdown period.

SLT conducts ‘Digital Avurudu’ programme

National telecommunication service provider Sri Lanka Telecom and Sri Lanka Telecom Mobitel in partnership with Derana conduct ‘SLT Digital Aurudu’ to celebrate this year’s New Year festival.

NCE points out exporters’ predicament due to order cancellations amid COVID-19

The member exporters of the National Chamber of Exporters of Sri Lanka (NCE) have made representations regarding their predicament due to the sudden cancellation of export orders by certain buyers.

Maldives parliament keeps legislative wheels turning with Microsoft Teams

Eighty seven lawmakers in one of the world’s smallest and most remote countries — the Indian Ocean island nation of the Maldives — are conducting virtual online parliamentary sessions with the help of Microsoft 365, including Microsoft Teams, as their country battles the COVID-19 outbreak.

China suffers historic contraction as virus paralyses economy

China’s economy shrank for the first time in decades last quarter as the coronavirus paralysed the country, in a historic blow to the Communist Party’s pledge of continued prosperity in return for unquestioned political power.

Tea Board to float tender to select media agency to promote Black Tea

The Sri Lanka Tea Board (SLTB) is planning to float a tender to select a social media implementation agency shortly to roll out the announced promotional campaign globally to promote Ceylon Black Tea as an immune booster to fight the coronavirus (COVID-19) pandemic.