Sri Lanka’s gross official reserves were down by US$807.8 million to US$ 5,858.5 million in October 2020 from US$ 6,666.3 million in September 2020, latest Central Bank data showed. By the end of October, foreign currency reserves were 5,384.9 million dollars while the reserve position in the IMF was 67.6 million dollars. Reserves in Gold…
As the oldest mercantile establishment in Sri Lanka, George Steuart & Company has contributed to the betterment of the nation for nearly two centuries, whilst making enormous strides in diverse fields of business. George Steuart Health was established nearly 33 years ago and since then, has partnered with over 60 principals from across the globe,…
Official statement from MAS Holdings The wellbeing of our employees is the number one priority at Bodyline and despite having stringent health and safety protocols, we have unfortunately experienced positive COVID cases in 2 of our 3 facilities- Horana (68 cases), Agalawatte (01 case) In each of these instances, we have acted immediately to close…
A Memorandum of Understanding (MOU) was signed on 6th November 2020 between the Sri Lanka Export Development Board and COFCO Womai Investment Co., Ltd to establish an online National Exhibition Hall to promote Sri Lanka’s export products in the www.womai.com e-commerce platform as a parallel activity to the Sri Lanka’s participation at the 3rd China…
The remittance flow to Sri Lanka is projected to decline by 9% in 2020 due to the economic crisis induced by Covid-19 pandemic and shutdown, according to a World Bank report published recently. “The coronavirus-related global slowdown and travel restrictions will also affect migratory movements, and this is likely to keep remittances subdued even in…
Having identified the national importance of revamping the businesses affected by COVID-19 pandemic, the Central Bank of Sri Lanka (CBSL), in consultation with the Government of Sri Lanka, implemented Saubagya COVID-19 Renaissance Loan Scheme Facility in 3 phases to provide working capital loans at the interest rate of 4% per annum, with a repayment period…
Tea auctions this week saw fair demand and the overall auction quantity recorded an increase this week and totalled 5.9 M/Kgs, Forbes and Walker said in its latest report. Ex-Estate offerings total around 0.75 M/Kgs in comparison to the 0.6 M/kgs on offer the previous week and demand was centred around teas at the lower…
“Resilient performance by JKH in second quarter as Group EBITDA excluding Leisure grows by 15 per cent; businesses display strong recovery momentum” Sri Lanka’s foremost conglomerate, John Keells Holdings (JKH), showed resilient performance in second quarter as Group EBITDA excluding Leisure grew by 15% and businesses displayed strong recovery momentum. Company’s Chairman, Krishan Balendra said in…
Decision taken by SL Govt and SLC due to Covid-19 situation in Island Nation Sri Lanka Cricket wishes to announce that the Lanka Premier League will be held from 27th November to 17th December 2020 and will only be played at the MRICS, Hambantota. The latest revision, both in the commencement date and the venue,…
The main index of the Colombo Stock Exchange, the All Share Price Index (ASPI) crossed the 6,000 mark today (05). The ASPI increased by 98.20 points or 1.66% to close at 6,004.11 whilst the S&P SL20 Index also increased by 1.28% or 29.57 points to close at 2,347.40. Meanwhile, the market recorded a daily turnover of Rs.4.28 billion. During the month of September,…
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