SriLankan Airlines is temporarily suspending its services between Sri Lanka and China from 10th March to 30th April 2020 due to current market conditions driven by significant reduction in worldwide travel to and from China. SriLankan Airlines continued to fly to China after many airlines suspended services or reduced frequencies, including four Chinese airlines that…
Sri Lanka is expecting 3.5-4.0 % growth in 2020, amid a hit from Coronavirus (COVID -19) outbreak, Central Bank Governor Prof. W. D. Lakshman said. “The ongoing developments will have an adverse effect on Sri Lanka as well, but we still expect the Sri Lankan economy to do better in 2020 than last year, and…
For the fifth consecutive year, IFC, a member of the World Bank Group, partnered with the Colombo Stock Exchange (CSE) to ring the opening bell for trading in celebration of International Women’s Day 2020. An annual global gender initiative, Ring the Bell encourages the private sector to expand opportunities for women as leaders, employees, entrepreneurs,…
The Government is in the middle of negotiating a loan from the Chinese Development Bank, which could be between $ 1-2 billion, Senior Deputy Governor Dr. Nandalal Weerasinghe said. “The loan could be finalized within weeks,” he added. “The Government has a clear borrowing plan for the year, and under that they are already working…
Some of the luxurious hotels and tourism-related assets are owned by State institutions such as the Treasury, Employees Provident Fund (EPF), Sri Lanka Insurance Corporation, Telecommunication Regulatory Commission (TRC), and Bank of Ceylon. Hotels such as Grand Hyatt, Grand Oriental and Hilton, and Lotus Tower Shopping Complex can be pointed out as examples. It has…
Reuters: The International Monetary Fund (IMF) is making available about $ 50 billion through its rapid-disbursing emergency financing facilities for low-income and emerging market countries in light of the novel coronavirus COVID-19 outbreak, the multilateral lender announced Wednesday. “We know that the disease is spreading quickly. With over one-third of our membership affected directly, this…
The central bank yesterday (05) urged banks to pass benefits from the last round of rate cuts to borrowers without any further delay. “We urge commercial banks to pass the benefit of our policy rate reduction in January to the borrowers without any further delay. At the same time, the Monetary Board extended an assurance…
Due to the ramifications felt by the supply chains of the dominant export sectors of Sri Lanka from COVID-19, achieving the EDB’s anticipated export target of US$ 18.5 billion during this year is in quandary, according to EDB Chairman Prabhash Subasinghe. “The export target of US$ 18.5 billion set for 2020 will be difficult to…
Huawei Sri Lanka and University of Moratuwa (UOM) entered into a Memorandum of Understanding (MoU) to further enable the educated and talented youth in Sri Lanka to further enhance their skills in the ICT domain and to be competitive in the ever growing ICT industry, as part of Huawei’s long-term digital inclusion initiative – TECH4ALL,…
M/s Access Engineering PLC has been awarded Rs. 5,950.95 million contract for construction of 1000 housing units at Stadiumgama. The proposal submitted by the Prime Minister Mahinda Rajapaksa as the Minister of Urban Development, Water Supply and Housing Facilities as per the recommendation of the Standing Procurement Appeals Board was approved by the Cabinet of Minister. Photo caption- Chairman of Access Engineering PLC Mr. Sumal Perera …
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