The Ceylon Motor Traders Association (CMTA), the only trade association in Sri Lanka that represents automotive manufacturers through their local importers, urged the Government to provide a clear direction on the period of the vehicle import suspension and emphasized the need to regulate automotive imports to legitimate importers that have been vetted by the Government….
Trading at the Colombo Stock Exchange (CSE) will be closed at 12.30 p.m on Wednesday (5 August 2020) in view of the parliamentary Election, Chief Operating Officer of the CSE Renuka Wijewardena said in a statement today (30). Accordingly, trading will be limited to 1 1/2 hours from 11.00 a.m. to 12.30 p.m.
Global trade has been hit by new and accumulated import restrictions just as economies need to rebuild in the COVID-19 crisis, the World Trade Organization (WTO) said in a mid-year report issued recently. But some export constraints imposed on surgical masks, medicines and medical equipment early in the pandemic are being rolled back, it said….
The decision also excludes residents coming from Philippines, India, Bangladesh, Pakistan, Iran and Nepal Kuwait will allow citizens and residents to travel to and from the country, starting August 1, the government communication center tweeted on early Thursday, citing a cabinet decision. The decision excludes residents coming from Bangladesh, Philippines, India, Sri Lanka, Pakistan, Iran, Nepal. Last…
Sri Lanka’s premier connectivity provider, Dialog Axiata PLC, has commenced immediate civil work for the expansion and provision of all equipment to establish a fully functional ICU (Intensive Care Unit) at the Homagama Base Hospital. Funded entirely by Dialog Axiata, this is the second component of the pledged Rs. 200 Million towards urgently required ICU…
The availability of necessary medical supplies will be limited until production and supply chains stabilize and the depreciation of the rupee is likely to have a significant impact on operations as a large proportion of medical supplies are imported, increasing costs, Dr. Bandula Wijesiriwardena, chairman of Lanka Hospitals Corporation PLC stressed. “As we emerge from the…
Moody’s Investors Service says in a new report that the profitability of Asia-Pacific banks will deteriorate over the next few years as the coronavirus outbreak accelerates structural changes. “Lower-for-longer interest rates, rising credit costs and operating expenses, and in some countries aging populations will on weigh on the profitability of APAC banks in coming years,…
JKH business momentum displays a faster than anticipated recovery; Leisure downturn impacts profits Sri Lanka’s foremost conglomerate, John Keells Holdings (JKH) Group’s profit before tax (PBT) is a negative Rs.2.43 billion in the first quarter of the financial year 2020/21 compared to the Rs.1.36 billion recorded in the previous financial year, the latest annual financials…
The Board of Investment of Sri Lanka signed an agreement with Vallibel Properties Ltd for the construction of its State-of-the-art 16-storey Office complex. This project with a total value of US$ 8.1 million will be set up at Colombo 3 and expected to provide direct employment for 200 employees. The agreement was signed on behalf…
The Central Bank of Sri Lanka (CBSL) has decided to issue Rs.39.5 billion worth Treasury bills today (29 July 2020). The Public Debt Department of the CBSL stated that the bank will issue Rs.9 billion worth 03-months Treasury bills, Rs.6 billion worth 06- months Treasury bills, and Rs.24.5 billion worth 12-months Treasury bills. Further, The Public…
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