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CSE to trade on Thursday despite curfew

The Colombo Stock Exchange (CSE), in consultation with the Securities and Exchange Commission (SEC) has decided to keep the market open for a limited time period on Thursday (04 June) despite the island-wide curfew and the public holiday declared by the government on that day. Accordingly, The Trading hours applicable to 04th June 2020 will…

(0)Comments | June 3, 2020 9:03 pm

COVID-19 : Fitch Downgrades Ratings of 28 Corporates in Asia Pacific

Fitch Ratings has downgraded the ratings of 28 corporates in Asia Pacific (APAC), and made negative revisions to the rating outlook or watch for a further 32 corporates, driven by the effects of the coronavirus pandemic since 10 March. The pace of downgrades in May was significantly slower than in the previous two months; but…

(0)Comments | June 3, 2020 4:29 pm

Standard Chartered Sri Lanka supports MAS Intimates’ combat against COVID-19

Standard Chartered announced today that MAS Intimates (Pvt) Ltd., a division of MAS Holdings, has become the first company in South Asia to complete a drawdown under the Bank’s USD1 billion COVID-19 financing commitment. The Bank extended a USD11 million loan to Sri Lanka-based MAS Intimates to facilitate the purchase of raw materials for the…

(0)Comments | June 3, 2020 1:10 pm

Army Commander commends Hemas’ Dolphin Hotel for exceptional services to the nation during COVID-19

Army Commander Lieutenant General Shavendra Silva, the head of the National Operations Centre for Prevention of COVID-19 Outbreak (NOCPCO), commended Hemas Holdings PLC’s Club Hotel Dolphin for its role in combating COVID-19 in Sri Lanka by functioning as a quarantine centre from 1st April to 28th May 2020, at a meeting with company representatives at…

(0)Comments | June 3, 2020 11:53 am

COVID-19 : Lanka Aluminium expects 40% market drop

Sri Lanka’s market for aluminium extrusions is expected to reduce by approximately 40%, owing to the hit on the property sector from the COVID-19 pandemic, Lanka Aluminium Industries Plc said. “We estimate the market size for aluminium extrusions to reduce by approximately 40% and remain so until a permanent solution for the coronavirus is found,” Dinal…

(0)Comments | June 3, 2020 11:51 am

US$361mn outflow from government securities in first 3 months, CSE cumulative outflow US$28mn

A net outflow of the foreign investment amounting to US $ 261 million was recorded from the rupee denominated government securities market in March 2020, resulting in a cumulative net outflow of US $ 361 million during the first three months of 2020, the Central Bank said. Outflows of foreign investments from bond markets of…

(0)Comments | June 3, 2020 10:32 am

Ambeon Group Announces new Board of Directors

Directors of Ambeon Capital PLC, Mr Sanjeev Gardiner, Mr Ajith Devasurendra and Mr Ranil Pathirana appointed to the Board of Ambeon Holdings PLC Mr Murali Prakash will continue as Group Managing Director/Chief Executive Officer of both Ambeon Capital PLC and Ambeon Holdings PLC Synergies across the respective boards is expected to result in better coordination…

(0)Comments | June 3, 2020 9:23 am

SEC approves rules for digitalization of Colombo Stock Market

The Securities and Exchange Commission of Sri Lanka (SEC) has approved amendments to the Stockbroker Rules, Central Depository Systems (CDS) Rules and Listing Rules submitted by the Colombo Stock Exchange (CSE), which will enable the stock market to transition from a paper based to an electronic based environment. Under the amended rules, Statement of Accounts…

(0)Comments | June 2, 2020 4:02 pm

Sri Lanka’s tourism earnings, workers’ remittances decline in March

Sri Lanka’s tourism industry was severely affected from March 2020 by the COVID-19 pandemic. With the termination of all passenger flights and ships to Sri Lanka, there was a cessation of tourist arrivals from the third week of March 2020, resulting in a substantial decline in tourist arrivals by 70.8% to 71,370 from 244,328 in…

(0)Comments | June 2, 2020 12:03 pm

SLIM launches ‘Restart Sri Lanka’, National initiative to reengineer Businesses

The unprecedented Covid-19 pandemic, and the consequent lockdown and curfew have disrupted the daily lives of people and brought all businesses to a virtual standstill.  Businesses in Sri Lanka are facing the detrimental consequences of this catastrophe as their very survival is now being threatened. The lockdown and other measures taken to prevent the spread…

(0)Comments | June 2, 2020 11:33 am

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