Due to the ramifications felt by the supply chains of the dominant export sectors of Sri Lanka from COVID-19, achieving the EDB’s anticipated export target of US$ 18.5 billion during this year is in quandary, according to EDB Chairman Prabhash Subasinghe. “The export target of US$ 18.5 billion set for 2020 will be difficult to…
Huawei Sri Lanka and University of Moratuwa (UOM) entered into a Memorandum of Understanding (MoU) to further enable the educated and talented youth in Sri Lanka to further enhance their skills in the ICT domain and to be competitive in the ever growing ICT industry, as part of Huawei’s long-term digital inclusion initiative – TECH4ALL,…
M/s Access Engineering PLC has been awarded Rs. 5,950.95 million contract for construction of 1000 housing units at Stadiumgama. The proposal submitted by the Prime Minister Mahinda Rajapaksa as the Minister of Urban Development, Water Supply and Housing Facilities as per the recommendation of the Standing Procurement Appeals Board was approved by the Cabinet of Minister. Photo caption- Chairman of Access Engineering PLC Mr. Sumal Perera …
The exact impact on the Sri Lankan Economy would depend on the extent of the global spread of the COVID-19 outbreak, its persistence and policy responses of major economies and trading partners, The Central Bank of Sri Lanka said. “The likely slowdown of the global economy and disruptions to the supply chain could affect Sri…
The Colombo Stock Exchange (CSE) with the support of the Inland Revenue Department and PWC Sri Lanka recently gathered members of the corporate community to discuss the tax reforms that have been proposed by the Sri Lankan Government. The Forum on the theme “Maximize Profits Through Understanding Tax Reforms” focused on the salient features of…
An Interactive Evening with Her Excellency Pham Thi Bich Ngoc, Ambassador of Vietnam in Sri Lanka, was held recently at the Ceylon Chamber of Commerce. The event was organized by organized by the Sri Lanka – Greater Mekong Business Council, Her Excellency Pham Thi Bich Ngoc stated that Sri Lanka and Vietnam have been good friends…
Fitch Ratings has assigned Ceylon Electricity Board’s (CEB: AA+(lka)/Negative) proposed senior unsecured debenture issue of up to Rs.20 billion a National Long-Term Rating of ‘AA+(lka)’. The debentures constitute direct, unsubordinated and senior unsecured obligations of CEB and are rated at the same level as the entity’s National Long-Term Rating. CEB’s ratings are equalised with that…
As COVID-19 reaches more than 60 countries, the World Bank Group is making available an initial package of up to $12 billion in immediate support to assist countries coping with the health and economic impacts of the global outbreak. This financing is designed to help member countries take effective action to respond to and, where…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 04 March 2020, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 6.50 per cent and 7.50 per cent, respectively, and thereby continue its…
Senkadagala Finance PLC, a registered finance company announced today (4) that it has acquired Candor Asset Management (CAM), a Sri Lankan unit trust and private portfolio management for an estimated Rs.26.7 million. Candor Asset Management is licensed and regulated by the Security and Exchange Commission of Sri Lanka to manage Unit Trust funds and Private…
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