Alibaba founder Jack Ma is no longer the richest man in China after Tencent’s Pony Ma, 48, worth $50 billion, surpassed Jack Ma’s $48 billion fortune, according to a Bloomberg report. Tencent Holdings Ltd shares surged on Wednesday in Hong Kong trading recording a $40 billion surge this week propelling Pony Ma’s fortune above Jack…
In line with the Government’s development programme and with the aim of uplifting the small and medium businesses adversely affected by the COVID-19 pandemic, People’s Bank has introduced a special loan scheme with an interest rate of just 6%. The Bank has allocated Rs. 15 billion for this purpose. The unexpected impact of the COVID-19…
How are we helping the Country, Economy and YOU? This press statement aims to create public awareness about the operational and policy measures undertaken by the Central Bank of Sri Lanka thus far during 2020, to support the economy, the financial system and the general public in the midst of the COVID-19 pandemic. Being the…
In its quest to continuously support Sri Lanka’s export industries and to keep the country connected with the global economy during the pandemic, the National Carrier SriLankan Airlines has converted a wide-body passenger aircraft into a dedicated cargo aircraft. This converted Airbus A330 aircraft will commence operations on the 25th of June to key destinations…
Offers Special Low Interest Business Loans and Gold Loans to Businesses and Individuals Stepping up its assistance to businesses and individuals affected by the global health and economic crisis, Sampath Bank rolled out a host of special business loans and gold loans under its Revive Sri Lanka initiative at a significantly low interest rate of…
BBC – The International Monetary Fund has lowered its global growth forecast for this year and next in the wake of the coronavirus pandemic. It now predicts a decline of almost 5% in 2020, substantially worse than its forecast only 10 weeks ago in April. The UK economy is expected to contract more than 10%…
Led by their vision of “helping people and businesses by providing financial services and information to achieve their goals and aspirations in a sustainable way”, Nations Trust Bank has identified the importance of assisting adversely affected businesses with a view to supporting the revival of the national economy. Towards this objective, Nations Trust Bank PLC…
Agri Business Loan rates reduced by 3.5% in 2020 to date SME Loan rates cut by 4% this year Gold Loan rates reduced by 5% since January 2020 The Commercial Bank of Ceylon has announced a further lending rate cut, slashing rates by up to 2% on all categories of loans in a continuing effort…
Uber rolls out enhanced safety measures amid Covid-19 outbreak As governments across the region begin to ease off lockdown and workplaces slowly resume operations, Uber is taking unprecedented safety measures to help everyone who uses its app to stay safe and healthy. Pavan Vaish, Head of Central Operations, South Asia, for Uber, sat down with Ada Derana Biz for…
Janashakthi Insurance Plc Director and CEO Jude Fernando has notified the company of his intention to resign with effect from 31 August 2020, a stock exchange filing by the insurer said. No reason was cited in the filing for Fernando’s resignation. Fernando served as the Chief Executive Officer of Janashakthi Insurance PLC from 2014, and as…
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