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…
Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100)1 decreased further to 5.2% in May 2020 from 5.9% in April 2020. This was mainly driven by the statistical effect of the high base prevailed in May 2019. Meanwhile, Food inflation (Y-o-Y) declined to 11.1% in May 2020…
Workers’ remittances declined by 32.3% in April 2020, year on year, amounting to US dollars 375 million, latest External Sector Performance report of the Central Bank of Sri Lanka outlines. On a cumulative basis, workers’ remittances recorded a decline of 9.0% to US dollars 1,975 million during the first four months of 2020, in comparison to…
According to the latest external trade data released by the Central Bank, country’s trade deficit widened in April 2020 as exports fell more than the decline in imports. Sri Lanka’s external sector performance in April 2020 was severely affected by the COVID-19 pandemic related economic interruptions. The imposition of a partial lockdown had a significant impact on…
Ranjith Kodituwakku has been appointed as Chief Executive Officer/ General Manager of People’s Bank with effect from June 19, 2020. He had previously served as the Deputy General Manager (Commercial Banking and Digitalization). The appointment as CEO/GM follows the retirement of M.A. Boniface Silva – Acting CEO/GM. Ranjith Kodituwakku has over 37 years of banking…
First Capital Research believes that the Central Bank of Sri Lanka is yet again in a vulnerable position and the possibility of a policy rate cut is on the cards in order to push banks to consider the lending opportunities. The research firm allocates a policy rate cut expectation of 100bps bringing the SDFR and…
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