Fitch Ratings has made further cuts to world GDP forecasts in its latest Global Economic Outlook (GEO), but the slump in global economic activity is close to reaching its trough. “World GDP is now forecast to fall by 4.6% in 2020 compared to a decline of 3.9% predicted in our late-April GEO. This reflects downward…
All measures will be based on international and local health guidelines No COVID-19 infected was reported from the community since April 30th Hotels and restaurants registered with the Tourism Authority to open first The Task Force Committee entrusted with COVID – 19 control proposed to President to reopen airports for foreign tourists from 1st August as…
Sri Lanka’s Ports and Shipping industry does not require any government handouts, as the world is attempting to come out of the economic slump, brought on by the COVID-19 pandemic, Chief Executive Officer of the South Asia Gateway Terminals, Romesh David stated. “The government has announced that they have a Rs.50 billion package. They probably need…
D. Soosaipillai, a pioneer in the leasing and financial services industry both in Sri Lanka and overseas was recently appointed as the new Chairman of Commercial Credit. He succeeds Mr. Cecil Perera, a finance industry veteran and senior attorney-at-law who chaired the Board before him and retired after the regulatory 9 years on the Board….
Moody’s Investors Service said about 22% of 476 rated non-financial companies in Asia Pacific (APAC) have high exposure to coronavirus disruptions, up from 20% in March, as the effects of the pandemic on companies’ credit quality have become more apparent. “Airlines, automakers and auto part suppliers, casinos, discretionary retail, and hospitality companies continue to bear…
Oil prices climbed on Tuesday, boosted by increasing faith in the market that producers will stick to commitments to cut crude supply while demand picks up with more cars back on the road as coronavirus lockdowns are eased around the world. US West Texas Intermediate (WTI) crude futures gained 3.2 percent, or $1.06, to $34.31…
Senior Deputy Governor of the Central Bank of Sri Lanka Dr. Nandalal Weerasinghe stated that Sri Lanka has maintained a good track record in repaying its foreign debt obligations and has made repayments on time. “If you look at the debt service payment for the year 2020 it is about $ 4.8 billion and we…
In its continued efforts of supporting the Health Care sector in the fight against COVID-19, Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, partnered Samsung Global and MyDoctor to provide Samsung tablets, connectivity and telemedicine solutions for three years of continuous use to the Ministry of Health and Indigenous Medical Services (MOH) to enable the…
Sri Lanka appealed to India to extend $ 1.1 billion in urgent financing support to ease pressures related to foreign currency reserves — seen as a fallout of the covid-19 pandemic devastating the tourism industry in the country. Sri Lankan President Gotabaya Rajapaksa put forth the request during a telephone conversation with Indian Prime Minister…
On behalf of the Government of Seychelles, we wish to place on record our gratitude to the Government of Sri Lanka, its Ministry of Foreign Affairs and Ministry of Health, for enabling the visit of a group of 35 citizens of Seychelles, 24 of whom require urgent medical care, of which 11 critical patients are…
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