With a view to meeting the challenges faced by businesses and individuals due to the second wave of COVID-19, the Central Bank of Sri Lanka (CBSL) directs licensed commercial banks and licensed specialized banks, (hereinafter referred to as licensed banks), to extend the debt moratorium to COVID-19 affected businesses and individuals (hereinafter referred to as…
Wildlife safari live-streaming concept introduced by Sri Lanka Tourism has gathered tremendous interest and enthusiasm not only by domestic travellers but also by potential overseas travellers. First episodes covering Minneriya and Kaudulla National Parks have created over 100,000 impressions on social media and close to 800 comments. “We have had a great response from viewers,…
According to the latest external trade data released by the Central Bank of Sri Lanka, country’s external sector recovered further in September 2020, supported by the continued improvement in the trade deficit, a notable increase in workers’ remittances and the resultant stability in the domestic foreign exchange market. The trade deficit improved in September 2020, compared…
FTSE 100 jumps as Pfizer and BioNTech report coronavirus vaccine is 90% effective The Guardian – Global stocks have surged after the drug companies Pfizer and BioNTech announced that their coronavirus vaccine was 90% effective in tests, giving hope that economies around the world can soon return to normal. The FTSE100 soared on Monday by 5.5%…
Stock Market Operations continued seamlessly with no interruptions between 26th October and 6th November 2020 amidst an environment where some offices of the Colombo Stock Exchange (CSE) and several Stock broker Offices were located in areas subject to quarantine curfew. In a noteworthy development, trading activity during this period indicates that investors have responded positively…
UML Group recorded a profit of Rs.366 million for Q2 compared to Rs.13.5 million in Q2 for the financial year 2019/20. The recorded Group revenue was Rs.4.3 billion for the quarter, up from Rs.3.06 billion in the comparable period last year. The year to-date Group profit recorded was Rs.140 million compared to a loss of…
The Sri Lanka Economic Virtual Summit (SLES) will have a session focusing on unlocking competitiveness for domestic industries by leveraging on technology, skills, policy and value addition. This session will examine how Sri Lanka can position itself to be competitive with the global trend of trade realignment. Case studies of countries and companies that are…
Colombo Stock Exchange market capitalization rose by Rs. 155 billion last week. At the beginning of the week, the market capitalization was Rs.2, 494.26 billion. This had risen to 2,649.30 billion at the end of the week’s trading on 6 November 2020, reflecting a 155.04 billion or 6.21% increase from 2 November 2020 to 6 November 2020….
Expolanka Holdings PLC secured exceptionally strong top and bottom line growth during the quarter ended 30 September 2020 (2Q20), largely as a result of a focused and consistent strategy along with the ability to stay agile and optimize opportunities presented in a dynamic operating environment. Fueled by surging demand for emergency supplies via air freight…
The spread of COVID-19 has led to a global health and economic crisis, and caused unprecedented changes to the way consumers and businesses interact on a daily basis. To combat the pandemic, many governments have imposed lockdown measures that have forced businesses to suspend physical operations and consumers to stay home. In the presence of…
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