The Ceylon Chamber of Commerce congratulates Prime Minister Mahinda Rajapaksa and the newly elected government on its victory at the 2020 General Election and the clear majority mandate received from the voting citizenry. The Chamber believes that the mandate received reflects among other factors the confidence earned by His Excellency the President and the Government…
LOLC Group (LOLC), the premier blue chip conglomerate concluded another financial year on a high note as per the results for the year ended 31st March 2020. LOLC posted an impressive Rs.19.8 billion Profit after Tax (PAT) for the year in comparison to Rs.19.6 billion PAT in the last year, becoming the most profitable listed…
The total outstanding central government debt has decreased by Rs.128.8 billion to Rs. 13,895.9 billion in May 2020 from Rs.14, 024.7 billion, the latest weekly report by the Central Bank of Sri Lanka (CBSL) outlines. Meanwhile, the total domestic debt of the government has increased from Rs. 7,217.7 billion to Rs 7,381.4 billion. However, the…
Fitch Ratings’ new interactive country-by-country map of bank rating trends shows that the balance of Outlooks globally has turned sharply negative since the onset of the coronavirus pandemic.The proportion of bank ratings on Negative Outlook or Rating Watch Negative (RWN) shot up to over 60% at end-1H20 from 13% at end-2019. The proportion on RWN…
Sri Lanka’s gross official reserves grew by US$407.4 million to US$ 7,102.0 million in July 2020 from US$ 6,694.6 million in June 2020, latest Central Bank data showed. By the end of July, foreign currency reserves were 6,605.1 million dollars while the reserve position in the IMF was 67.6 million dollars. Reserves in Gold were…
The Court of the people gave the verdict on those who covered up the bond scam, said former Central Bank Governor and now national list nominee for MP, Ajith Nivaard Cabraal, in a post-election statement. As investigations on the bond scam gather momentum on the basis of the Prevention of Money Laundering Act, under direction…
Across seven decades of pioneering innovation, Land Rovers have earned a unique place in the hearts of explorers, humanitarian agencies and adventurers. Proven in the harshest environments on earth, the New Defender maintains this bloodline. Driven by a passion and respect for the original, it delivers transformational breadth of capability. Advanced all-terrain technologies redefine adventure…
Popular holiday destinations Sri Lanka and Grenada, are among the latest destinations to begin using the world’s first-ever global safety and hygiene stamp, launched recently by the World Travel & Tourism Council (WTTC). The growing list of endorsements have come from many major holiday and city destinations around the world, with the holiday destinations of…
AirAsia Philippines (Z2) marked its first flight to Sri Lanka over the weekend on a ship crew exchange mission to repatriate Filipino seafarers. This is also considered the first ever charter flight launched by the AirAsia group to Sri Lanka in support of the repatriation efforts. This was the first time Air Asia, Philippines operated…
COSMI hopeful that President & new government will deliver in next five years ‘Hopeful of a medium to long term MSME revival’-Rajabdeen Sri Lankan SMEs have strong, newfound hope on the incoming new administration for their long overdue revival. “We are certain (HE) President Gotabaya Rajapaksa will listen to our concerns and deliver within the…
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