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Coca-Cola says pausing social media advertising

San Francisco (AFP) – Coca-Cola, a major force in global advertising, announced Friday it would suspend ads on social media for at least 30 days, as platforms face a reckoning over how they deal with racist content. “There is no place for racism in the world and there is no place for racism on social…

(0)Comments | June 28, 2020 12:32 pm

Compensation Payments to the depositors of The Finance Company PLC – Second Stage

The Central Bank of Sri Lanka (CBSL) has taken measures to commence the second stage of the compensation payments to the depositors of The Finance Company PLC (TFC) with effect from 02.07.2020. Accordingly, such payments will be taken place at 63 branches of the People’s Bank Island wide. In terms of this compensation mechanism Rs….

(0)Comments | June 28, 2020 12:03 pm

ComBank conducts 51st AGM on virtual platform

The 51st Annual General Meeting (AGM) of the Commercial Bank of Ceylon PLC, Sri Lanka’s benchmark private bank, was conducted on a virtual platform for the first time on Thursday, 25th June 2020. This was organised to maintain social distancing as necessitated by the COVID-19 pandemic. The proceedings were streamed live via Zoom from the…

(0)Comments | June 28, 2020 11:59 am

Dumith Fernando appointed as New CSE Chairman

The Colombo Stock Exchange (CSE) is pleased to announce the appointment of Mr. Dumith Fernando as the Chairman of the Board of Directors of the CSE with effect from 01st July 2020. Mr. Fernando has served on the Board of the CSE since 2017 and succeeds Mr. Ray Abeywardena, who steps down as the Chairman…

(0)Comments | June 28, 2020 11:37 am

Wellness: The New Paradigm in Sri Lanka Tourism

Exploring the untapped potential of Sri Lanka’s wellness sector through a live and interactive three–part webinar series. 03rd, 07th, 10th July 2020 15:00 – 16:00 Sri Lanka Time | 10:30 – 11:30 BST | 11:30 – 12:30 CEST Wellness Tourism is a big talking point in Sri Lanka. Post Covid-19, this fast-growing travel niche will…

(0)Comments | June 26, 2020 5:41 pm

Global economy faces long, bumpy recovery post-pandemic: Moody’s

The global economy is limping back to life from the Covid-related disruption, but the recovery will be long and bumpy, according to Moody’s Investors Service. “Global economic recovery will likely be prolonged. Q2 (April-June) 2020 will go down in history as the worst quarter for the global economy since at least World War II. “We…

(0)Comments | June 26, 2020 4:58 pm

Statement by CBSL on Regulation and Supervision of Non – Bank Financial Institutions

The Central Bank of Sri Lanka (CBSL) has noticed several media reports that vests the responsibility of failure and subsequent cancellation of licence of several finance companies which were licensed under the Finance Business Act, No. 42 of 2011 (FBA). The CBSL carries out the regulation and supervision of licensed finance companies (LFCs) to ensure…

(0)Comments | June 26, 2020 3:22 pm

Govt. to raise Rs.80 bn from state banks to settle bills

The government has approved raising Rs.80 billion from State banks to meet outstanding payments of projects carried out by the National Water Supply and Drainage Board (NWSDB) and the Road Development Authority (RDA). The RDA requires Rs. 50 billion to make payments to projects already underway, including commencing work on Phase 1 of the Central Expressway…

(0)Comments | June 26, 2020 3:21 pm

Hilton Colombo to delist from CSE

Hotel Developers (Lanka) PLC  announced that it will delist the Company’s shares from the official list of the Colombo Stock Exchange in compliance with applicable regulations and procedures. Hotel Developers (Lanka) PLC (HDL) is a Government Owned, public listed Company owning Hilton Colombo. In a Stock Exchange filing, the company stated the following: In terms of rule 5 (1)…

(0)Comments | June 26, 2020 2:38 pm

Viber cuts business ties with Facebook

Facebook’s data violations and failure to combat violent rhetoric have crossed the line, and Viber is taking relevant measures to cease ad spending, as well as remove product touchpoints, to protect its 1 billion users Rakuten Viber, one of the world’s leading messaging apps for free and secure communication, announces it will cut all business…

(0)Comments | June 26, 2020 12:37 pm