Minor Int’l consolidates Anantara and Avani Kalutara to trim costs

Minor International Company Limited (MINT), a multinational hospitality player that has operations in Sri Lanka, announced that its properties, Anantara Kalutara and Avani Kalutara, have been temporarily consolidated into a single operation, to reduce cost.

French fashion labels Saint Laurent, Balenciaga to make coronavirus face masks

(Paris) REUTERS: High-end fashion labels Saint Laurent and Balenciaga will start making face masks to ease shortages during the coronavirus crisis, their French parent group Kering said recently. Dwindling stocks of protective gear across France have angered doctors and prompted police unions to threaten to walk off the job - complaints echoed in Spain and Italy.

India’s huge outsourcing industry struggles with work-from-home scenario

As the coronavirus pandemic pushes India into a lockdown, the call centres and IT services firms that function as the world’s back office are struggling to piece together work-from-home solutions and other business-continuity plans.

Fitch revises SL’s banking sector outlook to Negative on coronavirus

Fitch Ratings yesterday revised Sri Lanka’s banking sector outlook for 2020 to ‘Negative’ from ‘Stable’ amid coronavirus pandemic posing increased risks to the anticipated expansion in the economy and credit demand, which according to rating agency, would adversely affect the performance of the banks.

Cabraal to unfold ‘way forward’ strategy post COVID-19

Sri Lanka has to prepare for post COVID-19 era, where the way global economy works would change, former Central Bank Governor and current Senior Advisor on Economic Affairs to the Prime Minister Ajith Nivard Cabraal said.

Tourism authorities say arrangements in place for tourists to get back home

Sri Lanka’s tourism authorities yesterday said arrangements are in place for international tourists to get to their home countries, and charter flights will be allowed to fly them out on request.

Sri Lanka likely to qualify for bilateral debt relief

Sri Lanka is likely to qualify for bi-lateral debt relief as the World Bank Group (WBG) and the International Monetary Fund (IMF) on Wednesday in a statement to the G20 called on official creditors to suspend debt repayment from IDA countries to help them fight COVID-19.

Hutch offers subscribers Rs.15 free relief reload to help mitigate COVID-19

Keeping true to its long devotion to the best interests of its customers, Hutch yesterday introduced another key initiative ensuring continuity and access to telecommunication services at a time when the country is grappling with the COVID-19 crisis.

Hemas FMCG donates goods to Sri Lanka Army to fight against COVID-19

Supporting the nation that is using every means to combat the spread of the coronavirus (COVID-19) among citizens, Hemas FMCG donated a large quantity of personal care items to the Sri Lanka Army, recently.

Abans donates to hospitals across island

Many responsible citizens have been joining in to support the efforts of the government to fight COVID-19 and the Abans group too has lent a hand.

Ceylon Chamber completes 181 years of serving the nation

The Ceylon Chamber of Commerce completed 181 years of serving the private sector and contributing to the national economy, on March 25, 2020.

BOI factories closed until further notice excluding medical equipment makers

Govt. urged to allow export industries to operate uninterruptedly

National inflation surges in February as food prices spike

The headline inflation measured by the National Consumer Price Index (NCPI) rose by a sharp 8.1 percent in the 12 months to February 2020, from 7.6 percent in January, as the food prices spiked and the base effects kicked in.

Ride-hailing industry takes plunge putting gig workers’ livelihood at great peril

Sri Lanka’s sprawling ride-hailing industry dominated by PickMe and Uber fell victim to what appears to be a protracting coronavirus pandemic, throwing thousands of gig workers in the industry into hot water.

HSBC Sri Lanka offers relief to Personal and Corporate customers

HSBC, the largest international bank in Sri Lanka, is offering a range of relief measures for its personal and corporate customers given the challenges presented by the ongoing novel-coronavirus (COVID-19) pandemic.

Apparel sector leads in mass scale insurance for employees and their families

At a time when calamity strikes us, when every one of us in the whole wide world (www) are caught off guard how many of us – citizens, would have some kind of financial support to meet this sort of unexpected crisis situation.

Stock market to be closed till March 27

In view of the extension of the ongoing curfew in the districts of Colombo, Gampaha and Puttalam, the Colombo Stock Exchange has declared the period from March 25 to 27, 2020, as market holidays. Accordingly, the market will be closed from March 25 to 27, 2020.

‘Market Halts’ imposed to avert extreme price declines: CSE

The Colombo Stock Exchange (CSE) yesterday said market halts are a well-coordinated, pre-defined measure to mitigate the sudden effects of an extreme price decline, in the best interest of capital market investors.

Exporters perturbed by sudden hike in airfreight charges; seek redress from government

Sri Lanka’s exporters were taken by surprise this month when they were suddenly told that they had to pay double the rates they were paying for airfreight until early March and are now in quandary, waiting for redress from the government.

Migrant worker exodus from Thailand over virus lockdown

Tens of thousands of migrant labourers from Laos and Myanmar flooded bus stations and border crossings in Thailand yesterday, defying requests to stay put to prevent exporting infections of the deadly coronavirus.

IRD extends deadline for submission of Transfer Pricing Disclosure Form to April 30

Sri Lanka’s Inland Revenue Department (IRD) extended the deadline for the submission of 2018/2019 Transfer Pricing Disclosure Form (TPDF), from March 31 to April 30, in light of the prevailing situation in the country.

Sri Lanka likely to record negative economic growth this year

Sri Lanka’s economy is not spared by the massive shocks delivered by the coronavirus (COVID-19) pandemic, and due to the current multifaceted vulnerabilities, the country is likely to witness negative growth.

Apparel industry hit by cancellation of orders: JAAF

Sri Lanka’s largest export revenue earner, the apparel industry, is bracing for a massive blow amid increased order cancellations as coronavirus (COVID-19) pandemic is crippling the economies of its key buyers.

Trico, SIB tie-up launches Marine Risk Insurance portal

Trico Logistics Limited (TLL), partnering with Strategic Insurance Brokers (SIB), recently announced the launch of a Marine Risk Insurance portal (tricologi.net) for all TLL customers who hail from a wide-ranging international client base. TLL will be the platform provider for the online solutions.

Hutch encourages govt.’s Work from Home special initiative

The government has recognized the importance of isolating the population to stop the spread of the COVID-19 virus by driving Work from Home initiatives.

SriLankan brings home 829 stranded pilgrims from India

As initiated and facilitated by the Government of Sri Lanka, SriLankan Airlines, brought back 829 Sri Lankans who were stranded in India.

Headstart opens up access to Guru.lk to combat schools lockdown

Sri Lanka’s largest digital learning content platform Guru.lk has announced it is offering access to its vast resource of digitised material to schools and private tuition institutes whose regular classes have been suspended to retard the spread of the COVID-19 virus.

Ceylon Chamber webinar on COVID-19 outlines key takeaways

In line with the Ceylon Chamber of Commerce’s initiative to tackle how the new coronavirus affects industries and businessmen, the Ceylon Chamber hosted an interactive webinar on ‘COVID-19: Are We Prepared?’ for its member organisations.

People first, economy next, says top economist

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 political leadership should be ensuring the best for the people over all other things.