Nawaloka Construction has been awarded a Rs. 2.37 billion contract to construct the first phase of the import air cargo terminal at the Bandaranaike International Airport (BIA). Cabinet approval has been granted on 7 May 2019 to initiate the procurement process for the construction of the first phase of an Import Air-Cargo Terminal at BIA, the state information…
The Sri Lankan Retailers Association, the apex body for organised retailing in Sri Lanka, with a view to uplift the industry post COVID, carried out a series of expert webinars on the topic of “Recovering Sales and Profitability After the COVID Pandemic”. The series was facilitated in partnership with Upskill People UK, who provide effective…
Sri Lanka – USA Business Council (SLUSABC) which functions under the aegis of the Ceylon Chamber of Commerce held its 04th Annual General Meeting on 17th September 2020, re-electing Dr. Asanka Ratnayake, Director, Hayleys Advantis Ltd as the President of the SLUSABC for 2020/2021 Her Excellency Alaina B. Teplitz, the Ambassador of the United States…
Asset quality and profitability will deteriorate significantly, but impact on capital will be limited Banks’ credit metrics will deteriorate the most in India and Sri Lanka on already weak underlying fundamentals Moody’s Investors Service says in a new report that despite substantial risks, Asia-Pacific banks’ creditworthiness should remain largely intact through the current economic downturn….
Sri Lanka stocks fell in volatile trading on Tuesday (06), following the biggest one-day plunge for the All Share Price Index (ASPI) after the island nation reported the first case of Covid-19 community infection in several months. Sri Lanka’s only Capital Market All Share Price Index (ASPI) crashed down by 462.99 points or 8.21% to…
Following the initial identification of a COVID-19 infected employee at Brandix manufacturing facility in Minuwangoda, the company issued an official statement in order to share updates on the current situation in an effort to keep the general public and all relevant stakeholders updated during this period. The full statement issued by the company as follows;…
The Cabinet of Ministers has granted approval for the proposal submitted by the Minister of Tourism for allocation of a provision of Rs.186 million as a relief for those employed in the tourism sector registered under Sri Lanka Tourism Development Authority. Accordingly, a sum of Rs.15,000 has been allocated for all tourist drivers/ tourist bus…
Approval of the Cabinet of Ministers was granted at their meeting held on the 08 April 2020 for the issuance of orders under the foreign exchange act No. 12 of 2017 for the opening and maintenance of recently introduced Special Deposit Accounts (SDAs) in order to deposit money remitted into the country across the banking…
The government’s highest priority is to strengthen the economy and get the country back on the growth track, State Minister for Finance, Capital Market, and State Enterprise Reforms, Ajith Nivard Cabraal stated and added that firm commitment has been given to investors even with the difficulties arising from the current situation. The State Minister was responding to a question…
The International Monetary Fund on Monday said member governments should seize a low-interest rate opportunity to invest in infrastructure to drive recovery from the coronavirus pandemic and a shift toward greener energy. The IMF said in chapters from it fiscal monitor that its research shows public investment in infrastructure, including investments in health care systems,…
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