M/s Sierra cables PLC had won a contract worth Rs. 900.50 million (without Vat) to supply aerial bundle cables to state-run Ceylon Electricity Board (CEB). The contract to supply 1500 km of cables for the ‘CEB Distribution zone 02′ was approved by the Cabinet of Ministers on a proposal by Minister of Power and Energy…
With a view to preserve the foreign currency reserve position of the country and considering the possible negative impact to the Sri Lankan economy due to the outbreak of Covid-19 pandemic, the Hon. Minister of Finance, Economic and Policy Developments with the recommendation of the Monetary Board of the Central Bank of Sri Lanka and…
Image – A hacked tweet from Apple’s account BBC – Billionaires Elon Musk, Jeff Bezos and Bill Gates are among many prominent US figures targeted by hackers on Twitter in an apparent Bitcoin scam. The official accounts of Barack Obama, Joe Biden and Kanye West also requested donations in the cryptocurrency. “Everyone is asking me…
Benefitting from the normalizing of economic activities in the country following the complete relaxation of the restrictions for mobility, the Manufacturing PMI increased significantly in June 2020 recording 67.3 with a month-on-month increase of 18.0 index points compared to May 2020, the Central Bank said yesterday (15). This increase in manufacturing PMI is underpinned by…
The hospital continues operations under the close guidance of the PHI and MOH Following the recent update from Melsta Hospitals – Ragama, where a staff member was tested positive for Covid-19, it has now been confirmed that all other staff members of the hospital who were identified as the first line of contact have tested…
Sri Lanka Tourism Development Authority (SLDTA) is rolling out provisional licensing to assist the SMEs enabling them to seek COVID-19 health certification to host tourists in the future. Sri Lanka Tourism is extending its support to the SME sector, which is considered to be over 60% of the industry. It is estimated that over 50,000…
One small firm in three around the world was obliged to cut jobs to stay open through the coronavirus pandemic in May, a survey showed on Wednesday, underlining how hard the outbreak has slammed the world economy. Some 26% of small and medium-sized businesses surveyed by Facebook (FB.O), in partnership with the Organisation for Economic…
T-bill rates fall to lowest since 1989 Sri Lanka Treasury Bill yields fell to a record low at Wednesday’s auction to their lowest levels since 1989. Accordingly, Treasury Bill rates fell below 5%. The three-month yield was down to 4.65%, the six-month yield was down to 4.75% and the 12-month yield was down to 4.91% The Central Bank of…
Standard Chartered Sri Lanka announced today (15) that Brandix is the latest company to complete a drawdown from the Bank’s global USD1 billion COVID-19 financing commitment, underscoring its ongoing efforts to support local businesses in the pandemic response. Standard Chartered’s extension of USD12 million funding will assist the production switch to Personal Protective Equipment (PPE)…
The Colombo Stock Exchange (CSE) has expanded the eligibility criteria for initial listing of shares on the Main Board and the Diri Savi Board which will enable a wider spectrum of companies to qualify for a listing. The rule revisions, which also brings changes to IPO timelines and the basis of allotting shares, is to…
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