In its continued response efforts to serve the nation during a time of need, Dialog Axiata, Sri Lanka’s premier connectivity provider, partnered with TV Derana to launch the 2nd rendition of the ‘Manusath Derana with Dialog’ initiative in order to provide relief to affected families in areas under curfew. The entire process of purchasing, packaging and…
Union Bank continued to focus on its prudent cost and portfolio management strategy to remain resilient amidst a volatile macro-economic landscape that prevailed through the third quarter of the year. The Covid-19 outbreak weakened the country outlook substantially and affected the overall business landscape of the country. Amidst a challenging economic landscape, the Average Prime…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100), remained unchanged at 4.0% in October 2020 due to the statistical effect of the high base prevailed in October 2019. Meanwhile, Food inflation (Y-o-Y) decreased to 10.0 per cent in October 2020 from 11.5% in September 2020, whereas…
Businesses are becoming increasingly vulnerable to reputational risk, with 70% of them having experienced an event that has posed a threat to their reputation. That’s according to the fifth annual Global Risk Landscape Report produced by specialist accountancy and business advisory firm BDO LLP. BDO’s extensive survey of no less than 500 C-Suite executives across…
The Board of Investment (BOI) of Sri Lanka yesterday (01) assured to facilitate all BOI enterprises within and outside Export Processing Zones to operate without interruption in the quarantine curfew-imposed areas. Issuing a statement, the Board of Investment of Sri Lanka stated it will issue the required curfew passes as per the instructions on the…
MAS Holdings said it decided to close the Bodyline Ltd’s Horana plant after one of its employee was tested positive for COVID-19 on Friday the 30th of October. Issuing a statement, the management said the plant would be closed until further notice and re-commenced only after extensive PCR tests are carried out amongst other Team Members. The full…
The Colombo Stock Exchange (CSE) announced that all market operations will continue as normal on Monday (02 November 2020) and onwards. The quarantine curfew currently imposed on the Western Province has been extended until November 09.
Tourism-dependent nation’s dollar notes lost 20% in October The drop is a cautionary tale for emerging-market investors Bloomberg – Sri Lanka has tumbled from best to worst in Asia’s dollar bond market, underscoring how fast the pandemic can chill sentiment toward weaker emerging-market assets. The island nation’s notes lost about 20% in October after dropping 15.5%…
The Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) lauded all those involved in the pharmaceutical supply chains for their proactive efforts in ensuring the uninterrupted supply of medicine throughout the country in response to the COVID-19 pandemic. Despite challenges posed by the coronavirus to global manufacturing and distribution supply chains, the Chamber reaffirmed that…
Following is a statement issued by the State Minister of Money & Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal on 30th October 2020 With the spread of the COVID-19 pandemic, all countries including Sri Lanka, observed a contraction in economic activity, reduction in foreign exchange earnings, decrease in revenue collection, and increase in…
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