Singer Finance (Lanka) PLC received a strong vote of confidence from investors with its recent Listed, Rated, Unsecured, Senior, Redeemable three year and five year, Rs. 1 billion debenture issue being oversubscribed. The subscription closed on Wednesday the 13th of May 2020. This Debenture issue is rated BBB (lka) by Fitch Ratings Lanka Limited.). Singer…
Central Bank Implements Extraordinary Regulatory Measures to Provide Liquidity to Banks amidst COVID-19 Outbreak The Monetary Board of the Central Bank of Sri Lanka (CBSL), in the wake of the possible adverse impact on liquidity and other key performance indicators of licensed commercial banks and licensed specialised banks (licensed banks) due to the implementation of…
COSMI praises SMEs, micros for unprecedented COVID-19 deliveries amid risks ‘Essential services saved lives from COVID-19, SMEs saved lives from shortages, hunger’ –Rajabdeen Thanks officials and Police for support to SMEs; wants sanitisation support During continued lockdowns of Sri Lanka, the SME and micro sectors have clearly proven their critical role in not only sustaining…
Q1 20 Revenue and EBITDA Stable YoY; PAT Impacted by Non-Cash Translational Forex Losses Direct and Indirect Taxes, Fees and Levies to GoSL – Rs4.5Bn Capex Investments managed at Rs2.0Bn during the Quarter with Prioritisations. Accordingly, OFCF Improved to Rs9Bn for Q1 2020 Support Extended in Dealing with Covid-19 to Our Customers, Government and…
The Colombo bourse experienced a rebound today (13) after steep falls over two days, one that reflects a belief among investors that the economy will enjoy a recovery from the COVID-19 crisis. The ASPI closed 119.30 points or 2.81% up at 4,367.25 and the S&P SL20 index of most liquid stocks went up 2.59% or…
People’s Bank has launched the Aswenna loan scheme, a unique product that is in line with the Government’s development programme to create a self-sufficient nation. The first Aswenna loans were ceremoniously handed over to the loan recipients by People’s Bank Chairman Sujeewa Rajapakse and Acting Chief Executive Officer / General Manager M.A. Boniface Silva at…
Sampath Bank continued to demonstrate its commitment to offer the best possible service to its customers across the Country by maintaining all essential banking services without interruption amidst curfew restrictions imposed during the COVID-19 lockdown. Sampath Bank’s 429 ATMs, 448 Deposit Kiosk Machines (DKMs) and all 229 Branches when permitted remained fully operational during the…
The Colombo stock market today (13) experienced an encouraging positive momentum in the first 30 minutes of trading with both indices improving. The Colombo All Share price Index was up 100 basis points during the first 9 minutes of trading and the S&P SL20 Index was up by 5%. The market turnover was recorded Rs.146…
International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday it was “very likely” the Fund would cut global growth forecasts further as the coronavirus pandemic was hitting many economies harder than previously projected. “Incoming data from many countries is worse than our already pessimistic projections,” Georgieva said during a webcast conference sponsored by the…
Sri Lanka recorded a 44.1% year-on-year (YOY) decline in tourist arrivals during the first four months of 2020, with no tourist arrivals in April, due to the termination of all passenger flight and ship arrivals into the country from March 18, in order to contain the spread of COVID-19 pandemic. “The total arrivals recorded from January…
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