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,…
Sri Lanka’s multi-geographic, multicurrency and multicultural financial conglomerate LOLC Holdings PLC is planning to make forays into new countries in 2020/ 21 while further strengthening its existing businesses. “Our success in global markets inspires us to enter new markets and we have exciting plans, to make forays into new countries in 2020/21,” LOLC Holdings PLC…
Fitch’s liquidity ratio shows; Indonesia, Mongolia (B/Stable), Sri Lanka (B-/Negative), Pakistan (B-/Stable) and Laos (CCC) all have ratios below the median for their rating categories. A rise in foreign-exchange reserves across Fitch-rated sovereigns in the Asia Pacific (APAC) over the last two quarters has bolstered external buffers and should support ratings. However, the trend also…
Sampath Bank PLC announced the appointment of Don Ajantha de Vas Gunasekara as Executive Director to its Board of Directors with immediate effect. The resolution on this appointment was passed by the Board at the meeting held on 29th October 2020. Ajantha currently serves as the Group Chief Financial Officer (GCFO) of Sampath Bank PLC, a position he…
