The World Bank Board of Executive Directors recently approved additional financing for Sri Lanka’s COVID-19 Emergency Response and Health Systems Preparedness Project. The project will receive an IDA Credit of $ 87.24 million and an additional Pandemic Emergency Financing (PEF) Facility of $ 1.72 million. The credit facility has a maturity of 30 years and a grace period…
Sri Lanka’s diversified conglomerate John Keells Holdings PLC has entered into a long-term financing agreement with the International Finance Corporation (IFC)for US Dollars 175 million to support funding of the Company’s investment pipeline. The agreement formalising the facility was signed between the IFC and JKH today ( 23 June 2020). This facility is IFC’s largest investment…
A Constitutional Council Meeting will be held tomorrow (24) at 6 pm at the Speaker’s Residence under the patronage of its Chairman and former Speaker of the Eighth Parliament Hon. Karu Jayasuriya. Secretary-General of Parliament Mr. Dhammika Dasanayake stated that the Prime Minister Hon. Mahinda Rajapaksa and other members of the Constitutional Council are scheduled…
A considerable increase on import expenditure on personal vehicles was observed in April 2020 compared to the previous month, mainly due to the clearing of the backlog accumulated due to service disruptions with the spread of COVID-19 in the country, the Central Bank said in its latest report. The expenditure on motor vehicle imports during…
The grant enables development and expansion of accessible technology for people with disabilities Microsoft announced it selected Fortude as the first Sri Lankan grant recipient of its AI for Accessibility program, which funds organizations that use artificial intelligence to empower people with disabilities. The grant — which includes access to Microsoft’s Azure cloud computing service and provides training and…
Partners with HeiQ Materials AG to use their textile technology HeiQ Viroblock on the knitted jersey fabric the company is producing a face mask program in the US. HeiQ Viroblock NPJ03 is among the first textile technologies in the world to be proven effective against SARS-CoV-2 in the laboratory. Tests conducted by Swiss textile innovator…
A net outflow of foreign investment amounting to US $ 90 million was recorded from the rupee-denominated government securities market in April 2020, resulting in a cumulative net outflow of US $ 451 million during the first four months of 2020, the Central Bank said yesterday (22). There were no foreign investment flows in the Colombo…
SriLankan Airlines would look at revamping its destinations post-COVID-19 which could include more destinations in China and new destinations such as Seoul and Sydney, a top official said Monday. “We plan to resume flights from August 1, but we may not go back to the same destinations, SriLankan Chairman Ashok Pathirage said whilst addressing a…
~ First Sri Lankan Lady Elected as CIMA Global Vice President – 2020/21 Sri Lankan management accounting professional – Melanie Janine Kanaka, was elected as the first Sri Lankan woman Global Vice President of The Chartered Institute of Management Accountants (CIMA) by over a resounding 88% of its global members voting at the 101st Annual…
Opportunity is now open to commence productions in many sectors with the limiting of imports of several non-essential items, President Gotabaya Rajapaksa said. As pledged in “Saubhagyaye Dekma” policy statement the way has been paved for a people-centric production economy. The current challenge before the industrialists is to win the domestic and global market, President…
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