The Central Bank of Sri Lanka (CBSL) has decided to provide further relief measures to assist tourism sector businesses and individuals who are adversely affected by the prevailing COVID-19 outbreak. Hence, issuing a circular yesterday (16) the CBSL requested all licensed commercial banks, licensed specialised banks, licensed finance companies and specialised leasing companies (hereinafter referred to…
The Central Bank of Sri Lanka (CBSL), considering the national importance of reviving business sectors that were adversely affected by the COVID-19 and the exceptional circumstances of the economic impact of COVID-19 pandemic, has implemented a Credit Guarantee and Interest Subsidy scheme under Phase III of Saubagya COVID- 19 Renaissance Facility and a liquidity facility…
Crude oil tanker ‘Marine Hope’ sailing under the Marshall Islands flag called at the Hambantota International Port (HIP) for repairs recently. With a gross tonnage of 159,962 and 332 meters in length, the tanker is the largest vessel to call at the port to date. Its repairs were expertly carried out by Colombo Dockyard PLC…
Uber today announced the appointment of Prabhjeet Singh as President Uber India and South Asia, tasked with overseeing the next phase of growth in the company’s mobility business and ensuring safety for riders and drivers across India, Sri Lanka and Bangladesh. His appointment is effective immediately. While making the announcement Pradeep Parameswaran, Regional General Manager…
TOKYO (Reuters) – Asian shares eked out gains and U.S. stock futures bounced back on Friday as hopes of more government spending around the globe outweighed concerns about rising coronavirus infections and worsening tensions between Washington and Beijing. European shares were also expected to rise, with pan-European Euro Stoxx 50 futures, German DAX futures, Britain’s…
Reuters – Twitter Inc disclosed late on Thursday that hackers targeted about 130 accounts during the cyber attack this week, an incident in which profiles of many prominent personalities and organizations were compromised. Hackers had accessed Twitter’s internal systems to hijack some of the platform’s top voices including U.S. presidential candidate Joe Biden, reality TV…
The world economy is in partial paralysis. The COVID-19 ripple effect is more than just a recession, it’s causing a global economic shutdown. The virus that initially triggered a supply and demand shock in China spread throughout the world creating shocks that amplified the impact; not just in the flows of trade and tourists, but…
The mini-hydropower sector is near saturation and hydropower energy generation is itself susceptible to the erratic patterns of floods and droughts we experience continually, so investing in solar and wind power, for instance, could be the way forward to meet the country’s energy needs, a top industry official said. “Pollution in Sri Lanka is not…
It has been observed that, although provisions are included for domestic preference in the Government Procurement Guidelines, the possibility to achieve benefits for the domestic suppliers and companies from those provisions is limited. Under the COVID-19 pandemic situation, domestic companies and entrepreneurs seek more assistance from the Government to carry out their business activities. Taking…
The Asian Development Bank (ADB) has given its consent to fund feasibility studies to set up ten high-tech universities in ten districts around Sri Lanka. This will be done with the objective of enhancing the opportunities provided by the sectors of information technology, engineering technology, and bio-technology, as mentioned in the “Vistas of Prosperity and…
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