Rated Sri Lankan corporates are set to lose around LKR30 billion in revenue in the financial year ending March 2021 (FY21) due to the coronavirus pandemic-led economic downturn, Fitch Ratings said yesterday (20). This is a 7% yoy decline in revenue compared with FY20. If the country’s two large telecom companies are excluded, the revenue…
Port City Colombo, Sri Lanka’s single largest foreign direct investment and mega city development project is to promote its investment opportunities for the Indian business community. CHEC Port City Colombo’s Head of Strategy and Business Development Thulci Aluwihare will be speaking at a webinar titled ‘Opportunities for Attracting Indian Investment to Sri Lanka’ this month…
As the bank of the people, People’s Bank has stepped forward to fulfill its obligations and assist the Government’s ongoing efforts to re-start the Sri Lankan economy and help the people of the country to get some form of normalcy to their lives by reducing interest rates to 9% onwards across several loan schemes. In…
The Central Bank of Sri Lanka ( CBSL) has listed measures taken to ease cash pressure on the banking system during the COVID-19 crisis. Being the apex financial institution of the country, the Central Bank provided its full scope of essential services to the economy and the financial system during the lockdown. “The Central Bank actively…
The global airline industry has been disproportionately affected by COVID-19 and is one of just a few industries that saw more than 90 per cent of demand fall within weeks of the global spread of the pandemic in March, Moody’s Investors Service said on Monday (20). The strain on the industry’s previous fundamentals is (and…
Sri Lanka’s unemployment rate has risen to 5.7% in the first quarter of 2020, data from the state statistics office show. The number of unemployed persons is estimated as 483,172 during the first quarter of 2020. overall unemployment rate reported for female is 9.6% and it is 3.7% for male. Youth unemployment rate (age 15…
Information and Communication Technology Agency of Sri Lanka (ICTA) the premier government institution driving the nation towards digital inclusivity, calls for applications for the e-Swabhimani 2020, the Digital Social Impact Awards, to be held for the 10th consecutive year in recognition of the digital solutions which are of strong social impact. Individuals, groups and organizations…
Sri Lanka’s second underwater museum situated off the Sandy Bay beach in Trincomalee was brought to life recently, adding yet another must-experience hotspot to the Country’s extraordinary travel itinerary. Declared open by the Former Commander of the Sri Lanka Navy Admiral Piyal De Silva, this Underwater Museum; set to provide an incomparable diving experience in…
Earnings from merchandise exports rebounded in June 2020 to US $ 906.02 Mn as per the Customs statistics, with the export sector progressively commencing actions following the relaxation of lockdown measures and the recovery of both domestic and global supply and demand chains to some extent. With the June Export Performance, the Chairman of Export Development…
With the onset of the Covid19 pandemic businesses came to a virtual standstill with economies plummeting and the integrity of brands being tested as never before. The uncertainty still continues to plague enterprises and across the globe brands are trying to survive by reviewing and readjusting their business models. Despite the drawbacks of the pandemic…
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