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State Minister Cabraal dispels undue fears on Sri Lanka’s debt service capacity

Following is a statement issued by the State Minister of Money & Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal on 30th October 2020 With the spread of the COVID-19 pandemic, all countries including Sri Lanka, observed a contraction in economic activity, reduction in foreign exchange earnings, decrease in revenue collection, and increase in…

(0) Comments | October 31, 2020 4:14 am


Pyxle International and Trabeya announce merger

Combined entity will have the leadership, resources and scale to successfully capitalize on opportunities in the fast-growing data industry. Merged capabilities will create a single comprehensive and fully integrated platform, from digital strategy, software engineering, data management and integration, to deep analytics with artificial intelligence tools, ensuring a complete solution to be delivered to customers….

(0) Comments | October 30, 2020 11:11 am

Sophos Launches Rapid Response Service to Identify and Neutralize Active Cybersecurity Attacks

Lightning-Fast Incident Response Minimizes Attack Damage and Reduces Recovery Time Sophos Rapid Response Identifies First Use of Buer Malware Dropper to Deliver Ransomware in New Wave of Ryuk Attacks Sophos, a global leader in next-generation cybersecurity, today announced the availability of Sophos Rapid Response, an industry-first, fixed-fee remote incident response service that identifies and neutralizes…

(0) Comments | October 30, 2020 11:07 am

Bimputh Finance demonstrates resilience while positioning for growth

Deeply committed towards achieving a better tomorrow for all stakeholders, Bimputh Finance PLC, forges ahead, demonstrating great resilience, whilst continuing to offer convenient and innovative products that benefit customers and communities. Incorporated in 2007 with a founding promise of building prosperity to enhance the quality of life of all stakeholders, Bimputh Finance is registered as…

(0) Comments | October 30, 2020 11:03 am

Nokia Phones Lead the Trust Rankings

Counterpoint Research trust rankings are based on four pillars: software, security, build quality, and enterprise-recommended devices This is the second successive year where Nokia phones lead the global rankings in providing the fastest software and security updates with the highest share of portfolio recommended for enterprises. Nokia phones lead across the price tiers in providing…

(0) Comments | October 29, 2020 1:53 pm

National Savings Bank: [SL]AA(hyb) assigned to the proposed Basel III Compliant Additional Tier I Capital Bond Programme

ICRA Lanka Limited has assigned a rating of [SL]AA(hyb) with Stable outlook for the proposed LKR 5,000 Mn Basel III Compliant, Unlisted, Rated, Unsecured, Subordinated, Perpetual, Additional Tier I Capital Bond Programme of National Savings Bank (NSB or the Bank). The letters ‘hyb’ in parenthesis suffixed to a rating symbol stand for ‘hybrid’, indicating that…

(0) Comments | October 29, 2020 12:13 pm

VMware Unveils 5G and Edge Advancements, Driving Sri Lanka Towards New Chapter of Innovation-Led Growth

VMware, Inc. (NYSE: VMW) recently announced its 5G Telco Cloud Platform, empowering Communication Service Providers (CSPs) to better meet the growing demands for 5G-powered innovations in Sri Lanka. The VMware 5G Telco Cloud Platform is a consistent cloud-first solution, powered by carrier-grade and high-performance cloud native infrastructure that enables CSPs to support future-forward technology applications…

(0) Comments | October 29, 2020 9:54 am

English Nursing supports Stroke survivors

A Stroke is a disease that affects the arteries leading to and within the brain. It is the fifth highest cause of death globally. The importance of expert intervention, regular physiotherapy and prescribed medication management for stroke survivors is vital to live a good quality of life. This World Stroke Day, English Nursing Sri Lanka…

(0) Comments | October 29, 2020 9:47 am

HP Printers now available at Singer

Singer Sri Lanka PLC, country’s premier consumer durables retailer has partnered with Trident Corporation, a leading distributor of IT hardware, software and printing solutions in Sri Lanka to serve globally renowned HP Printer range in the Sri Lankan market. This partnership opens Singer Sri Lanka’s customers across the island to the popular HP Printer range…

(0) Comments | October 29, 2020 9:45 am

Emirates launches integrated biometric path at the airport for added convenience

As part of Emirates’ commitment to continuous innovation and an unmatched customer experience, the airline has launched an integrated biometric path at Dubai International airport (DXB). The contactless airport experience is now open to Emirates passengers travelling from and through Dubai. The integrated biometric path will give passengers a seamless travel journey from specific check-in…

(0) Comments | October 29, 2020 9:43 am

IIHS broadens horizons for students as first-ever Sri Lankan Institute to offer Western Australian Education Certificate for Year 11 and 12

For many Sri Lanka parents, providing their children opportunities to gain an Australian senior secondary education has hitherto remained a pipe dream. Sri Lanka’s premier international university learning centre, the International Institute of Health and Science (IIHS) has come forward to pioneer a new educational era and fulfill this need by initiating an exclusive partnership…

(0) Comments | October 29, 2020 9:38 am

Top News

Expolanka Holdings PLC – Official Statement

Expolanka Holdings announced that after conducting an extensive number of PCR tests, nine of its employees have tested positive for COVID-19, it said in a statement. Official statement issued by the company as follows:  Expolanka PLC since the inception of the pandemic in Sri Lanka actively began pursuing proactive COVID safety protocols and immediate measures in order…

(0) Comments | October 30, 2020 5:15 pm

Need of the hour is ramped up testing

Given the enlarging COVID-19 clusters Sri Lanka is currently experiencing, it is critical that the country’s testing capacity is ramped up, along with its treatment capacity. Sri Lanka has to date employed only Polymerase Chain Reaction (PCR) testing, which is a highly sensitive molecular test that typically delivers an accurate result with no need for…

(0) Comments | October 30, 2020 2:18 pm

More than 26,500 PCRs done in 20 days in BOI factories – Sanjaya Mohottala, DG

Mr Sanjaya Mohottala Director General of BOI Sri Lanka stated that more than 26,500 PCR tests has been carried out in the factories under the purview of BOI between 8th and 28th of this month. 16,527 PCRs has been done in the 14 Investment Promotion Zones and awaiting results of another 495 tests. 423 COVID…

(0) Comments | October 30, 2020 2:09 pm

Axis Bank’s SL licence cancelled on request

Axis Bank shuts down operations in Sri Lanka The Monetary Board of the Central Bank of Sri Lanka, having considered the request made by the Axis Bank Limited, India consequent to a policy decision taken in 2019 on its global operations, has granted approval to close down business operations of Axis Bank Limited in Sri…

(0) Comments | October 30, 2020 10:56 am

Raja Edirisuriya new Executive Project Management Director for Port City

Raja Edirisuriya assumes duties as the Executive Project Management Director for Colombo Port City Development Project. This appointment was made as per a cabinet decision on a paper submitted by Prime Minister Mahinda Rajapaksa as the Minister of Urban Development & Housing. Prior to this appointment, Edirisuriya was serving as the Chairman of the Urban…

(0) Comments | October 30, 2020 10:39 am

Business Sentiment – Confidence takes an about turn

Business sentiment trends down amid a growing sense of uncertainty in corporate circles With the emergence of a new cluster of COVID-19 cases in early October, the Ministry of Health sought to gazette new regulations under the Quarantine and Prevention of Diseases Ordinance in a bid to stop the virus in its tracks. This involved…

(0) Comments | October 30, 2020 10:38 am

Global stocks steady after second-wave turmoil

LONDON (Reuters): European stocks and commodity markets struggled to stabilise on Thursday, after a return to national lockdowns in some of the region’s biggest economies triggered the most brutal global selloff in months. Hopes that the European Central Bank will signal later it has more support to offer and a 0.5-1% bounce in Wall Street futures…

(0) Comments | October 30, 2020 10:04 am

Special arrangements to provide uninterrupted EPF related services

EPF Department of the Central Bank of Sri Lanka today (29) informed all its stakeholders on the arrangements that have been made to provide its services uninterruptedly amidst the difficult situation prevailing in the country due to the Covid-19 pandemic. Accordingly; services of settling refunds, collection of contributions, issuing of balance confirmations and contribution history…

(0) Comments | October 29, 2020 6:30 pm
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Business Sentiment – Confidence takes an about turn

Business sentiment trends down amid a growing sense of uncertainty in corporate circles With the emergence of a new cluster of COVID-19 cases in early October, the Ministry of Health sought to gazette new regulations under the Quarantine and Prevention of Diseases Ordinance in a bid to stop the virus in its tracks. This involved…

(0) Comments | October 30, 2020 10:38 am

A key weakness for Sri Lanka is high proportion of short-term debt: Morgan Stanley

Influential global investment bank Morgan Stanley recently said a key weakness for Sri Lanka is the high proportion of short-term debt.  “The proportion of short-term debt (original maturity) has increased sharply in the domestic markets and, even on the external side, Sri Lanka now faces a eurobond redemption every year until 2030 with a couple of maturities due…

(0) Comments | October 28, 2020 4:08 pm

Sovereign default risks to rise further in 2021: Goldman Sachs

LONDON (Reuters) – Sovereign default risks are on course to rise further in 2021, with Iraq, Sri Lanka, Angola and Gabon at high probability of default, say Goldman Sachs analysts. Five sovereign debt defaults or distressed debt exchanges – in which investors swap their debt for new bonds, often with longer maturities and a reduced…

(0) Comments | October 28, 2020 5:38 am
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