WASHINGTON (Reuters) – The World Bank and the International Monetary Fund on Wednesday urged official bilateral creditors to provide immediate debt relief to the world’s poorest countries as they grapple with severe consequences of the rapidly spreading coronavirus. In a joint statement, the institutions called on official bilateral creditors to immediately suspend debt payments from…
President Gotabaya Rajapaksa has requested international donor agencies to provide a debt moratorium or debt deferment facility to all vulnerable developing nations to the COVID – 19 risk. President urged Director General of the World Health Organization Tedros Adhanom Ghebreyesus to forward this request to multi-lateral and bilateral lending agencies. President points out this relief…
Programme aims at empowering domestic farmers and national economy Effective mechanism to distribute rice and vegetables island-wide No shortage of fish, eggs and chicken Collaborative effort between Co-Op shops and super markets to deliver goods Special scheme to distribute medicines Round the Clock fuel station in each area Commercial Banks included into essential services category…
Aitken Spence’s holding company Melstacorp PLC has donated medical equipment worth LKR 25 million for a Real-Time Polymerase Chain Reaction (PCR) Laboratory at the National Institute of Infectious Diseases (IDH). Prime Minister Mahinda Rajapaksa received the PCR machine as a token from Mr. Hasitha Jayawardena – Director Melstacorp PLC and Ms. Stasshani Jayawardena – Director Aitken Spence…
LONDON/MILAN (Reuters) – Ships and their crews must be able to trade freely with minimal port restrictions to ensure supply lines don’t freeze up while the coronavirus shuts down much of the globe, shipping and port officials said on Tuesday.After draconian steps to stop the spread of the virus, China’s economy is slowly coming back online…
In light of the rapidly evolving COVID-19 situation, Temasek Foundation, Singapore has offered to provide 5000 numbers of Fortitude Kit 2.0 (COVID-19 test kits) to the Ministry of Health, Sri Lanka. The donation was handed over by Mr. Benedict Cheong, Chief Executive of Temasek Foundation International to High Commissioner Sashikala Premawardhane on 20th March 2020 at…
Stocks surged on Tuesday as the Dow recorded its largest one-day gain since 1933, driven by expectations of an economic stimulus package from Congress to offset the effects of the Wuhan coronavirus pandemic. The Dow Jones Industrial Average rose 2,112.98 points, over 11 percent, while S&P 500 rose 9.4 percent to 2,447.33. The Nasdaq Composite…
Prolonged decline in new motor vehicle sales to hurt motor insurance business, , which is the most dominant business line for the APAC non-life sector. Companies with significant allocations to equity investments to see capital declines in next quarter and Investment income to fall yoy with lower bond yields. Fitch Ratings has revised the sector outlook for…
In line with the decision taken by the Cabinet of Ministers at the Cabinet meeting held on 20.03.2020 on the Direction issued by President Gotabaya Rajapaksa to provide relief measures to assist businesses and individuals who are adversely affected by the prevailing Covid-19 outbreak, the Governor of the Central Bank of Sri Lanka Deshamanya Professor W D Lakshman has…
In view of the extension of the ongoing curfew in the districts of Colombo, Gampaha and Puttalam, the Colombo Stock Exchange has declared the period from 25th to 27th March 2020 as market holidays. Accordingly, the market will be closed from 25th to 27th March 2020.
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