Led by their vision of “helping people and businesses by providing financial services and information to achieve their goals and aspirations in a sustainable way”, Nations Trust Bank has identified the importance of assisting adversely affected businesses with a view to supporting the revival of the national economy. Towards this objective, Nations Trust Bank PLC…
Agri Business Loan rates reduced by 3.5% in 2020 to date SME Loan rates cut by 4% this year Gold Loan rates reduced by 5% since January 2020 The Commercial Bank of Ceylon has announced a further lending rate cut, slashing rates by up to 2% on all categories of loans in a continuing effort…
Uber rolls out enhanced safety measures amid Covid-19 outbreak As governments across the region begin to ease off lockdown and workplaces slowly resume operations, Uber is taking unprecedented safety measures to help everyone who uses its app to stay safe and healthy. Pavan Vaish, Head of Central Operations, South Asia, for Uber, sat down with Ada Derana Biz for…
Janashakthi Insurance Plc Director and CEO Jude Fernando has notified the company of his intention to resign with effect from 31 August 2020, a stock exchange filing by the insurer said. No reason was cited in the filing for Fernando’s resignation. Fernando served as the Chief Executive Officer of Janashakthi Insurance PLC from 2014, and as…
The Constitutional Council has approved the appointment of Dr. Ranee Jayamaha and Samantha Kumarasinghe to the Monetary Board of the Central Bank of Sri Lanka (CBSL). A Constitutional Council meeting was held today (24) at the Speaker’s Residence under the patronage of its Chairman and former Speaker of the Eighth Parliament Karu Jayasuriya. Prime Minister…
Having identified the urgent need of reviving the businesses adversely affected by the COVID-19 outbreak and thereby to promote economic activity in the country, the Central Bank and the Government of Sri Lanka launched a novel refinance facility under the Saubagya (Prosperity) Loan Scheme, named Saubagya Covid-19 Renaissance Facility, as announced on 24 March 2020….
Sri Lanka has been under lockdown for over 50 days now. With the number of cases close to 870, we do not know when normalcy will return. If we’re daily wage earners or if our job security is threatened, we are at the deep end of the chaos. The same applies to farmers who’ve had…
A Constitutional Council Meeting will be held at 6 pm today (24) at the Speaker’s Residence under the patronage of its Chairman and former Speaker of the Eighth Parliament Karu Jayasuriya. The nominations sent by the President, Gotabhaya Rajapaksa for the two-member vacancies of the Monetary Board of the Central Bank of Sri Lanka will…
IFC, a member of the World Bank Group, is making a $175 million investment in John Keells Holding (JKH) to expand its supermarket chain in Sri Lanka and help fund expansion or refurbishment of hotel properties in Sri Lanka and the Maldives. The $175 million long term investment is IFC’s largest in Sri Lanka in…
Sri Lanka’s gross domestic product (GDP) growth is forecast to contract 6.1% this year and grow 4.1% in 2021, the ADB said in a supplement to its Asian Development Outlook (ADO). Countries in ‘Developing Asia’ will ‘barely grow’ in 2020, the ADB forecast. According to the ADB report, Afghanistan, Maldives, and Sri Lanka will bear…
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