The coronavirus will cause global economic output to contract by 5.2% in 2020, the World Bank said on Monday, warning that its latest forecasts would be revised downward if uncertainty over the pandemic and business lockdowns persist. In its latest Global Economic Prospects report, the World Bank said that advanced economies are expected to shrink…
The Finance Company PLC (TFC) yesterday (08) stated that the non-voting shareholders of the company whose deposits have been converted to shares (who were initially deposit holders) in 2011 have been qualified for the payment of Rs.600,000/- maximum limit payment. In a stock exchange filling the Finance Company PLC stated that,” Under the amendment to the…
US Ambassador to Sri Lanka and Maldives Alaina B. Teplitz yesterday (8) handed over a donation of Personal Protective Equipment (PPE) and other materials to Disaster Management Centre Director General Maj. Gen. (Retd.) Sudantha Ranasinghe to contribute to Sri Lanka’s battle against the COVID-19 pandemic. The donation is part of the ‘All of America’ approach…
The Sri Lankan Department of Immigration has extended the validity period of all types of visas issued to all foreigners currently in Sri Lanka up to 11th July, 2020, as many were unable to get an appointment before the previous deadline of June 11. Accordingly, All applicants are advised to pay the relevant visa fee and get…
IFC, a member of the World Bank Group, is providing a $50 million loan to Commercial Bank of Ceylon (ComBank), Sri Lanka’s largest private bank, to help small and medium businesses in the country deal with the adverse economic impacts of COVID-19. The funding will be used to expand lending to small and medium-sized enterprises,…
Board appoints Dhara Wijayatilake as Deputy Chairperson Moving away from convention, Sampath Bank PLC successfully hosted its 34th Annual General Meeting on a virtual platform, in a bid to ensure the health and safety of its shareholders while also staying in line with national efforts to prevent the spread of COVID-19. As such, the Bank’s…
What is Sri Lanka’s strategy to help the country’s economy recover? What should our policy priorities be, both medium and long term, to enable a post-pandemic rebound? Join The Chamber Academy’s discussion on the Roadmap to Post-COVID-19 Economic Recovery, and engage with economic experts on 12 Friday, from 11-12:30pm. The panel will discuss the macro…
Lieutenant General Shavendra Silva, Chief of Defense Staff, Commander of the Sri Lanka Army, and Head of the National Operational Center for Prevention of COVID -19 addressed the monthly committee meeting of the Ceylon Chamber of Commerce on ‘The Successful Management of the COVID-19 Pandemic in Sri Lanka and the Way Forward’ recently. Noting that…
Fitch Ratings has affirmed the Insurer Financial Strength (IFS) Rating of Sri Lanka Insurance Corporation Limited (SLIC) at ‘B’. The Outlook is Negative. The agency has simultaneously affirmed SLIC’s National IFS Rating at ‘AAA(lka)’ with a Stable Outlook. KEY RATING DRIVERS SLIC’s ratings reflect its ‘Favourable’ business profile, and capital position and financial performance that…
BEIJING, June 7 (Xinhua) — China on Sunday issued a white paper on the country’s battle against COVID-19. The white paper, titled “Fighting COVID-19: China in Action,” was issued by the State Council Information Office. The Chinese government released the white paper to keep a record of the country’s efforts in its own fight against…
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