Hemas FMCG steps forward to help frontline health workers in fight against coronavirus

Since the outbreak of the coronavirus, hand sanitizer has been in high demand and hard to source.

WHO and Rakuten Viber join to fight COVID-19 misinformation

The World Health Organization (WHO) and Rakuten Viber yesterday announced a new partnership to fight misinformation around COVID-19 with an interactive multi-language chatbot available globally.

No stock market until curfew ends

The Colombo Stock Exchange (CSE) yesterday said the market would be closed from tomorrow onwards until the curfew is lifted.

Sri Lanka likely to face marked weakening in debt metrics: Moody’s

Sri Lanka (B2 stable) is among low-rated emerging markets with large near-term international bond repayments that are likely to face a marked weakening in debt metrics following the coronavirus outbreak and sharp commodity price declines, international credit rating agency, Moody’s Investor Services warned.

Stocks rise, oil rebounds as China data boosts virus-hit economy

European stock markets extended gains yesterday after a largely positive showing across Asia and as oil prices rebounded from 18-year lows, with a jump in Chinese factory activity providing a surprise boost for the virus-hit global economy.

StanChart commits US$ 1bn globally to help companies fighting COVID-19 fallout

Standard Chartered announced this week that it will globally commit US$ 1 billion of financing for companies that provide goods and services to help the fight against COVID-19, and those planning the switch into making products that are in high demand to fight the global pandemic.

EFC lists out measures to work during extended curfew

The Employers’ Federation of Ceylon (EFC) this week spelt out measures companies should take to carry out operations in the coming days with the island-wide curfew set to continue at least till April 4, which requires the business community to make necessary arrangements to move forward while complying with the curfew law.

Small & micro enterprise sector seeks Rs.500k, 3-year interest-free loan to navigate COVID-19

The confederation representing micro, small and medium enterprises have called for a Rs. 500, 000 interest-free loan, repayable in three years to resurrect micro and small scale entrepreneurs engaged in agriculture-based industries and manufacturing.

Banks gear up to push digital transactions to allow easy purchasing

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 allow citizens to have easy and improved access to goods and services during curfew.

Banks barred from declaring dividends, bonuses as capital rules eased to fight COVID-19

Special charter flight carries home Bhutanese students in Sri Lanka

A special ‘Tashi Air’ charter flight operated yesterday from Colombo to Paro, Bhutan, to carry Bhutanese students studying in various universities in Sri Lanka back to Bhutan.

Plantation firms step up to provide immediate relief to workers and families

Sri Lanka’s Regional Plantation Companies (RPCs) have stepped up to provide immediate relief to all plantation workers while ensuring health and safety protocols are followed amidst the islandwide curfew imposed to slow the spread of the coronavirus disease (COVID-19) in the country.

NDB Bank on Wheels visits customers at safety of their homes

While the COVID–19 outbreak in the country has forced all citizens to remain indoors and has brought many banking activities to a halt, NDB has taken several steps to assist the bank’s customers to perform their banking transactions in a secure and safe fashion with minimal contact. Thus, all NDB customers can have their daily banking needs met securely just as before through the NDB Bank on Wheels – a mobile banking unit that will bring the bank

Exports dip, imports gain in Jan. as SL heads for deeper and prolonged external trade issues

Sri Lanka’s earnings from exports dipped and imports surged, widening the hole in the trade deficit for January, as the country braces for deeper troubles in the trade account for months to come when the world battles what appears to be a prolonged health crisis already transcended into an economic crisis.

SriLankan brings down medical aid from China

SriLankan Airlines, continuing to answer the call of the nation, airlifted a consignment of medical aid from Shanghai, China, on March 28, 2020.

Govt. debt obligations top Rs.2tn this year

The government has so far raised Rs.311 billion to fulfil over Rs.2 trillion debt servicing obligations for this year, which includes US$ 4.5 billion in foreign debt servicing obligations.

Export Development Board welcomes relief measures provided for exporters

The Sri Lanka Export Development Board (EDB) welcomes moratorium on debt capital and interest and concessionary working capital scheme extended to export-related enterprises that are adversely impacted by the COVID-19 pandemic.

Series of strategies for reviving economy in post-COVID-19 era

Strategy 1:Return approximately 20 percent of the balances amounting to around Rs.500 billion of the Employees’ Provident Fund, lying to the credit of members, directly to the members.

Tourism & Industry Chamber requests additional relief package from govt.

Sri Lanka’s hard hit tourism sector has made a fresh appeal to the government to extend a new relief package to industry stakeholders in addition to what has been already proposed by President Gotabaya Rajapaksa.

NCE offers digital services to exporters to effect shipments without disruption

The National Chamber of Exporters (NCE) yesterday said it offers services on its digital platform, a facility operational for several years to provide Certificates of Origin (COs) and related documents.

CSE says market holiday today

In view of the extension of the curfew by the Government, the Colombo Stock Exchange (CSE) yesterday said the CSE would remain closed for trading today (March 30). Accordingly, March 30th will be considered a market holiday.

Banks grant over Rs.25bn worth debt capital moratoriums to SMEs

CMPort hands over 1000 protective suits to PM for mission against COVID-19

The China Merchants Port Group (CMPort)— one of the largest port operators in the world donated 1000 pieces of protective suits to the Sri Lankan government to support the ongoing national mission against Coronavirus Disease 2019 (COVID-19) outbreak in the country.

Nestle donates food and beverage products to frontline workers battling COVID-19

Sri Lankan workers at the frontline of battling the COVID-19 outbreak received close to half a million serves of food and beverage products from Nestlé, worth Rs. 15 million.

Hayleys subsidiaries donate Rs. 10.6 mn worth medical equipment

Stepping up its efforts to combat the COVID-19 pandemic, Hayleys Group subsidiaries- Haycarb PLC, Dipped Products PLC (DPL) and Eco Solutions delivered Rs. 10.6 million worth of urgently required medical and Personal Protective Equipment (PPE), towards the expansion of the Intensive Care Unit- the central facility to treat COVID-19 patients- of the National Institute of Infectious Diseases Hospital (IDH).

Outrage in Germany as Adidas, H&M stop rent payments

Global retailers including Adidas and H&M sparked outrage in Germany yesterday after announcing they planned to stop paying rent on stores that have been forced to close over the coronavirus outbreak.

Asian markets mostly up, dollar sinks on stimulus pledges

HONG KONG (AFP) - Asian equities mostly rose and the dollar extended losses yesterday, with traders buoyed by government and central bank pledges to prop up the global economy as the coronavirus sends countries into lockdown. Despite the painful toll the disease is in

MAS Holdings chief says crisis of this magnitude not seen in lifetime

MAS Holdings Chairman Mahesh Amalean in a Twitter message yesterday stressed the seriousness of the COVID-19 crisis and its impact on Sri Lanka’s as well as the global economy. “In my lifetime, I have never experienced a crisis of this magnitude that has impacted the lives of so many people around the world and is disrupting the world’s economy. “We must stand together as organizations, countries and a global community that is facing a common cri

Plantations and agri sectors gather steam to meet food demand

The plantation and agriculture sectors are gathering steam to ensure the country’s demand for food is fulfilled at a time when almost the entire world is in a lockdown, an effort that would continue with th

Pelwatte Dairy ensures continuous milk collection from dairy farmers

Local dairy milk processor, Pelwatte Dairy Industries Ltd., while being highly concerned of the ongoing COVID-19 situation in the country, has ensured that they would continue to collect milk from local dairy farmers. The firm has made this pledge taking into consideration that the livelihoods of the dairy farmers should not get affected despite the pandemic faced across the globe. “One of our main concerns as a local milk processor is that we