The country’s largest retirement fund, the Employees’ Provident Fund (EPF), which is under the custodianship of the Central Bank, posted a market loss of approximately Rs.39.08 billion, at the end of first-quarter 2020. So far, the EPF has invested Rs.84.05 billion in 83 listed equities. As at the end of first-quarter 2020, its market value…
Exports of tea bags have recovered in June 2020, Asia Siyaka Commodities said. Asia Siyaka, quoting Customs data stated that Sri Lanka has exported 2.19 million kg of Tea Bags in the month of June. Exports of tea in this value-added form declined to 0.94 million kg during the shutdown period in April and picked…
Sri Lanka had noted a decline in credit card usage in May 2020 compared to April 2020 amid the coronavirus (COVID-19) pandemic. This was stated in the latest report issued by the Central Bank of Sri Lanka (CBSL) on credit cards issued by Licensed Commercial Banks (LCBs). Accordingly, the number of active credit cards in the country…
Sri Lanka’s Wellness Tourism industry received a new impetus when the Sri Lanka Export Development Board (EDB) recognized Wellness Tourism as a thrust sector under the National Export Strategy (NES) 2018-22, as the island has natural and traditional endowments that can be used to develop a sustainable Wellness Tourism industry. Ever since then, the EDB…
Central Bank of Sri Lanka (CBSL) has taken measures to pay the compensation payments to the depositors of ETIFL and SFSP from the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS), upon suspension of the finance businesses of ETI Finance Limited (ETIFL) and Swarnamahal Financial Services PLC (SFSP) with effect from 13.07.2020. Accordingly, compensation…
Moody’s Investors Service has today extended its review for downgrade on Bank of Ceylon’s (BOC), Hatton National Bank PLC’s (HNB) and Sampath Bank PLC’s (Sampath) long-term local currency deposit and foreign currency issuer ratings of B2. The extension of the review for downgrade on the banks’ ratings follows the review for downgrade that remains in…
Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100)1 increased to 6.3% in June 2020 from 5.2% in May 2020. This was mainly driven by the monthly increase in prices of items in the Food category. Accordingly, Food inflation (Y-o-Y) increased to 13.6% in June 2020 from…
The Board of Directors of The Lanka Hospitals Corporation PLC has appointed Deepthi Lokuarachchi as the Group Chief Executive Officer of the Company effective from 20 July 2020. Deepthi Lokuarachchi holds a Law Degree from the University of Colombo and is Professionally qualified as a Chartered Member of CII – UK. Being an insurance professional…
Cementing its position as a global leader in quality and innovative healthcare, Hemas Hospitals announced the launch of a proprietary Infectious Patient Transportation Chamber (IPTC); a sealed, easily maneuverable cubicle with wheels to transport suspected or positive COVID-19 patients. Ideated and built by Senior Manager – Operations, Hemas Hospitals Wattala Chaaminda Kodikara, the chamber was…
The COVID-19 pandemic has forced Asian corporates to confront their business resilience in an unprecedented way, underlining the urgent need for greater digitisation in particular, according to HSBC’s Navigator report, Building Back Better, a survey of more than 1,400 Asian companies published today (21). “The global pandemic has also driven business to rethink how they…
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