Sri Lanka’s Wellness Tourism industry received a new impetus when the Sri Lanka Export Development Board (EDB) recognized Wellness Tourism as a thrust sector under the National Export Strategy (NES) 2018-22, as the island has natural and traditional endowments that can be used to develop a sustainable Wellness Tourism industry. Ever since then, the EDB…
Central Bank of Sri Lanka (CBSL) has taken measures to pay the compensation payments to the depositors of ETIFL and SFSP from the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS), upon suspension of the finance businesses of ETI Finance Limited (ETIFL) and Swarnamahal Financial Services PLC (SFSP) with effect from 13.07.2020. Accordingly, compensation…
Moody’s Investors Service has today extended its review for downgrade on Bank of Ceylon’s (BOC), Hatton National Bank PLC’s (HNB) and Sampath Bank PLC’s (Sampath) long-term local currency deposit and foreign currency issuer ratings of B2. The extension of the review for downgrade on the banks’ ratings follows the review for downgrade that remains in…
Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100)1 increased to 6.3% in June 2020 from 5.2% in May 2020. This was mainly driven by the monthly increase in prices of items in the Food category. Accordingly, Food inflation (Y-o-Y) increased to 13.6% in June 2020 from…
The Board of Directors of The Lanka Hospitals Corporation PLC has appointed Deepthi Lokuarachchi as the Group Chief Executive Officer of the Company effective from 20 July 2020. Deepthi Lokuarachchi holds a Law Degree from the University of Colombo and is Professionally qualified as a Chartered Member of CII – UK. Being an insurance professional…
Cementing its position as a global leader in quality and innovative healthcare, Hemas Hospitals announced the launch of a proprietary Infectious Patient Transportation Chamber (IPTC); a sealed, easily maneuverable cubicle with wheels to transport suspected or positive COVID-19 patients. Ideated and built by Senior Manager – Operations, Hemas Hospitals Wattala Chaaminda Kodikara, the chamber was…
The COVID-19 pandemic has forced Asian corporates to confront their business resilience in an unprecedented way, underlining the urgent need for greater digitisation in particular, according to HSBC’s Navigator report, Building Back Better, a survey of more than 1,400 Asian companies published today (21). “The global pandemic has also driven business to rethink how they…
Fitch Ratings, releasing its latest report yesterday (20), said it has revised down the operating environment (OE) score for Sri Lankan banks to ‘B-’ from ‘B’ after the sovereign rating was downgraded to ‘B-’ in April 2020. The Outlook on Sri Lanka’s Long-Term Issuer Default Rating (IDR) is Negative, as is the outlook on the…
London Stock Exchange Group (LSEG) has announced today that Arjuna Nanayakkara has been appointed as the Head of Shared Services Centre – Sri Lanka. He will be responsible for managing, building, and extending the capabilities of the centre in Sri Lanka. Nanayakkara joins LSEG from Global Market Technologies (GMT), formerly known as Mubasher/Direct FN where…
PARIS (AFP): Governments around the world are scrambling to save companies battered by coronavirus lockdowns but the world is nevertheless facing a massive surge in bankruptcies by a third, a study conducted by a trade insurance firm said Monday. “COVID-19 is creating an insolvency time bomb,” said the report by Euler Hermes, predicting a 35-percent…
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