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US donates equipment for Sri Lanka’s frontline responders to COVID-19
U.S. Ambassador to Sri Lanka and Maldives Alaina B. Teplitz handed over a donation of Personal Protective Equipment (PPE) and other materials to Major General Sudantha Ranasinghe (ret’d), Director General of the Disaster Management Centre, to contribute to Sri Lanka’s battle against the COVID-19 pandemic. The donation is part of the “All of America” approach […]
Prime Grand resumes construction aligned with health protocols
Prime Grand, the flagship luxury project of Prime Group, the leading real estate developer of Sri Lanka, has resumed its operations in accordance with #RestartSL protocols announced by the Government of Sri Lanka. Prime Group which stands strong in their contribution towards the economic regeneration in the country, celebrated a key milestone of ‘Prime Grand’, […]
Fitch revises Sunshine Holdings’ National long-term rating to ‘A(lka)’ from ‘A-(lka)’
Jun 08, 2020 (LBO) – Fitch Ratings has revised the National Long-Term Rating of Sunshine Holdings (CSE:SUN), to ‘A(lka)’ from ‘A-(lka)’ and has simultaneously affirmed its Outlook Stable. The rating revision of the diversified conglomerate, along with two other non-financial corporates, follows the recalibration of Fitch’s Sri Lankan National Rating scale to reflect changes in […]
MarCom collective commissions Ernst & Young to study industry’s economic significance
Jun 08, 2020 (LBO) – The MarCom Collective has commissioned Ernst and Young Sri Lanka (EYSL) to undertake a comprehensive study on the country’s marketing communications industry and its contribution to the Sri Lankan economy. The Collective is a group of associations, businesses and professionals from the marketing and advertising industry that came together following […]
Roadmap to post-COVID-19 economic recovery
Jun 08, 2020 (LBO) – What is Sri Lanka’s strategy to help the country’s economy recover? What should our policy priorities be, both medium and long term, to enable a post-pandemic rebound? Join The Chamber Academy’s discussion on the Roadmap to Post-COVID-19 Economic Recovery, and engage with economic experts on 12 Friday, from 11-12:30pm. The […]
Standard Chartered supports MAS Intimates’ combat against COVID-19
Jun 08, 2020 (LBO) – Standard Chartered announced today that MAS Intimates (Pvt) Ltd., a division of MAS Holdings, became the first company in South Asia to complete a drawdown under the Bank’s USD1 billion COVID-19 financing commitment. The Bank extended a USD11 million loan to Sri Lanka-based MAS Intimates to facilitate the purchase of […]
All possible measures are taken to ensure safety of deposits: CB Governor
Jun 07, 2020 (LBO) – Sri Lanka’s Central Bank assures the general public that it will continue to take all possible measures to ensure the safety of public deposits. Releasing a statement, the Governor of the Central Bank Professor W.D. Lakshman said that they remain committed to keeping the deposits of the general public safe […]
Opinion: A new deal for Sri Lanka
By Mangala Samaraweera: The worst economic crisis since Independence is upon us. For some decades now the grim clouds of debt, waste and corruption have been gathering over our island. Now – as this fearsome storm of the Corona virus unleashes its fury – anguish and desperation, grief and sorrow, fear and rage, will engulf […]
Lebanon to conduct free PCR tests for Sri Lankans seeking to be repatriated
Jun 06, 2020 (LBO) – The government of Lebanon has agreed to conduct free PCR tests for Sri Lankans seeking to be repatriated, the Ministry of Foreign Relations said. In line with the Sri Lanka policy on repatriating Sri Lankans overseas, Ambassador Shani Calyaneratne Karunaratne had discussions with the Lebanese Minister of Labour, Madame Lamia […]
Sri Lanka’s budget transparency: improving but still behind international standards
Jun 05, 2020 (LBO) – The Open Budget Survey (OBS) scores countries on the openness of their budget process and is the world’s only independent assessment of information disclosure in public budgets. The survey is conducted every two years. The 2019 cycle of the OBS has placed Sri Lanka 54th out of 117 countries, with […]