Aviation insurance is a mandatory requirement for airline operations. SriLankan Airlines obtained an insurance coverage from the Sri Lanka Insurance Corporation in 2018 with the Cabinet’s approval. The insurance cover has to be renewed annually, and the standing Technical Evaluation Committee of SriLankan Airlines has recommended that the insurance coverage for the year 2020/2021 be…
Amid a partial reopening of the country to civil and business life, the share of the corporate executives who say the Sri Lanka economy in general will improve in the coming 12 months continues to rise with 42% ( compared to 36% in May) of respondents to the latest LMD- Nielsen Business Confidence Index (BCI)…
In order to develop villages the banking service in the country should understand the rural economy and the needs of the people, President Gotabaya Rajapaksa emphasized. It is a timely necessity to develop export agricultural businesses instead of waiting for foreign countries to come into fray. Mere establishment of industries alone cannot be defined as…
The World Bank has downgraded Sri Lanka from an upper-middle income country to a lower-middle income country. The change in classification comes in the World Bank’s latest country classifications by income level published on Wednesday (01). Algeria and Sudan are the other two countries that have shifted to a lower category along with Sri Lanka. The…
The recently approved amendments to the listing rules of the Colombo Stock Exchange (CSE) by the Securities and Exchange Commission of Sri Lanka (SEC) will enable shareholders to receive dividends declared by Listed companies much faster. These reforms are a part of broader changes considered and implemented by the SEC and CSE to facilitate the…
Calls for deeper commitment by pharmaceutical industry to self-regulate. Prepared to partner with Government to collaborate and implement a fair pricing mechanism. Requests industry engagement to support the government in the curbing of NCDs in Sri Lanka. Lauds COVID-19 response by industry and partners. The Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) unanimously…
ROME/BANGKOK: The Director-General of the Food and Agriculture Organization of the United Nations (FAO), QU Dongyu, has appointed Jong-Jin Kim as Assistant Director-General and FAO Regional Representative for Asia and the Pacific, effective 1 July 2020. Mr Kim, a national of the Republic of Korea, has a long and distinguished career in public service. He joined FAO in…
Sri Lanka Insurance at the recently held Annual General Meeting declared that the company has closed year 2019 in a positive note recording phenomenal growth with exceptional service innovations. Sri Lanka Insurance the premier insurer to the nation recorded stellar performance in 2019 to record 15% growth in profit before taxation reaching a Profit before…
Fitch Ratings has upgraded the credit rating of Cargills Bank Limited from ‘A-(lka)’ to ‘A+(lka)’ with a stable outlook. The National Ratings of the Sri Lankan banks consider their creditworthiness relative to other issuers in the country. The recalibration of the Sri Lankan National Rating scale has resulted in the upward revision of the National…
Senkadagala Finance PLC yesterday (01) stated that it had received a US$ 25 million financing facility from the Netherland-based FMO ( Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V), on June 29, 2020, to enhance its green vehicle portfolio. Senkadagala was initially formed in the city of Kandy in 1968. The company has become one of the largest…
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