~ Tests will be carried out on samples sent by Government only The Association of Private Hospitals and Nursing Homes (APHNH) in a statement to media, said they will extend all possible assistance to the national operations programme for Covid-19 outbreak, in conducting the much needed PCR tests to help control the spread of Covid-19…
The coronavirus pandemic and its devastating economic impact on developing countries could fuel fresh interest in so-called diaspora bonds that allow migrants to support their countries of origin, experts from the World Bank and other groups say. Dilip Ratha, the World Bank’s lead economist on migration and remittances, told Reuters that diaspora bonds could generate…
The clearance of cars at the Hambantota Port is slow, and the port is concerned that they would not meet the April 30th deadline for clearing imported vehicles. “No vehicles were cleared over the weekend, and the number cleared on Monday was 203 while port dues have been paid for 425 chassis, which we hope…
The impact of the COVID-19 pandemic is expected to “weigh heavily” on Sri Lankan banks’ assets quality this year, First Capital Research warned. “The greatest initial impact is likely to be in loans to industries most affected by the disruption and consumer caution,” the research firm said in its latest report. “In particular, banks’ lending to SME and…
Fitch Ratings has downgraded the rating on SriLankan Airlines Limited’s (SLA) USD175 million government-guaranteed 7% unsecured bonds due 25 June 2024 to ‘B-‘, from ‘B’. Fitch said the rating action follows the downgrading of Sri Lanka’s Long-Term Foreign- and Local Currency Issuer Default Ratings to ‘B-’, from ‘B’, with a Negative Outlook. “The national carrier’s…
The economic impact of COVID-19 across different industries is staggering and the hotel industry is no different. Major hotel chains are seeing occupancy rates tumble as travelers stay at home during the coronavirus outbreak. In a disclosure to CSE, Jetwing Lighthouse Hotel, a franchise hotel belonging to Jetwing Hotels announced that that the impact of…
In terms of Section 35 of the Monetary Law Act No. 58 of 1949, the seventieth Annual Report of the Monetary Board of the Central Bank of Sri Lanka was presented to Hon. Mahinda Rajapaksa, the Prime Minister and the Minister of Finance, Economic and Policy Development, by Deshamanya Professor W.D.Lakshman, the Governor of the…
International Air Transport Association (IATA) has released its latest estimates, which show that the impact of Covid-19 on the aviation industry in the Asia-Pacific region has worsened. Earlier this month, IATA released its updated analysis stating that global airline passenger revenues will decrease by $314bn this year, which marks a decline of 55% compared to the previous…
The Ministry of Ports and Shipping has informed Sri Lanka Ports Authority (SLPA), South Asia Gateway Terminals (SAGT) and Colombo International Container Terminals (CICT) on 27 April 2020 to extend the concessionary period for occupational charges in the Port of Colombo and all commercial ports in Sri Lanka, up to 07th May 2020. Due to the prevailing Covid-19…
Perceived Economic Opportunity Index: January – March 2020 Given the onset of Covid19 all research activity sized middle of March 2020 with the whole country going in to a lockdown and subsequently a nationwide curfew. Therefore, data for Quarter 1 for 2020 is restricted to January and February. Methodology The PEOI is calculated based on…
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