COSMI praises HE President for decisive move, encourages faster disbursement ‘Fund MSMEs based on business rather than collateral ’-Rajabdeen Sri Lanka’s latest credit and refinancing support for private sector has been lauded by the country’s Micro and SME sectors on 18 June. “Finally, much-needed relief. We can now be optimistic of an economic revival” said…
The government of Japan will grant approximately Rs. 1.3 billion (Yen 800 milllion) in aid to Sri Lanka to purchase necessary medical equipment to support the country’s Covid-19 response efforts. Under the programme, the Government plans to purchase medical equipment such as MRI Scanners, CT scanners , Bedside X-ray systems , central monitors and Defibrillators….
The Hayleys Group’s geographical and sectoral diversity enabled it to deliver earnings growth in an extremely challenging year, with profit-after-tax increasing by 5% y-o-y and profit attributable to equity holders growing by 40% in 2019/20. Profitability was upheld by the strong performance of the Group’s export-oriented businesses which countered the weaker performance of the sectors…
“Sri Lankan exporters are cautiously optimistic about business continuity amidst a global pandemic,” reveals the findings of a new business survey conducted by the Ceylon Chamber of Commerce (CCC) and the United States Agency for International Development (USAID). A significant number of the firms surveyed had identified new business opportunities arising from needs relating to…
CEO’s Review Financial year 2019/20 has been the most challenging in the 70 year history of the Group with performance impacted by the aftermath of the Easter Sunday 2019 terrorist attacks coupled with the Covid-19 pandemic during the second half of March 2020. This has resulted in the Group recording a consolidated revenue of Rs.61.6Bn…
Sri Lanka has announced that it will welcome tourists from August 1, but only if they meet strict requirements and undergo rigorous testing for Covid-19. “There have been discussions now to open the airport for international tourists to visit Sri Lanka. August has been discussed but meanwhile what we have done is we have created…
President Gotabaya Rajapaksa has emphasized that it is the responsibility of state banks to utilize the reliefs provided by the Central Bank of Sri Lanka (CBSL) to strengthen the economy and the people. The global economies were hit hard by coronavirus, the President said and added that all types of businesses including agriculture, small and…
Effective 20 June, Etihad Airways will operate twice-weekly scheduled services for outbound passengers from Colombo to key destinations on its global network via Abu Dhabi. From Abu Dhabi, the service connects to Barcelona and Zurich on a weekly basis, and to Dublin, Frankfurt, Geneva, London, Madrid, Milan and Paris twice weekly. These services complement Etihad’s…
Clearly, the global pandemic caused by the spread of the new corona virus (COVID-19) already has an impact on the world economy and the broader market. No industry or economy has been spared by the devastating effects of the pandemic. But the service sector has naturally taken the impact much harder than others due to…
A Joint Committee between the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) was formed with the objective of identifying measures and mechanisms required for the Colombo Stock market to conduct its core activities digitally. The first phase of this initiative was launched and under this initiative, it has…
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