Author: lbostgadmin
Low interest working capital loan scheme for SMEs under ADB credit line
Small and medium enterprises can avail of working capital loans from banks through a loan scheme facilitated under an existing ADB credit line, the Finance Ministry said. Sectors expected to provide loans: Agricultural, tourism, and export-oriented sectors Main conditions of the loan scheme: Maximum loan amount is Rs. 10 million. The loan amount can be […]
Colombo Stock Exchange extends trading hours from 01st Nov
The Board of Directors of the Colombo Stock Exchange (CSE), with the consultation of the Securities and Exchange Commission of Sri Lanka (SEC) have decided to extend the trading hours with effect from 01st November 2022 as set out below: Pre-open session – 09.30 a.m to 10.00 a.m Open Auction – at 10.00 a.m. Regular […]
CCC hails passing of 21st Amendment; applauds consensual approach adopted by political parties
The Ceylon Chamber of Commerce is pleased to note the passing of the 21st amendment with an overwhelming majority in Parliament last week. While all measures proposed by the Chamber along with other likeminded professional bodies and civil society organizations may not be addressed by this amendment, it nevertheless considers this as a step in […]
10 Billion dollars recorded for Exports in 9 months of 2022
Earnings from the merchandise exports increased by 5.75 % y-o-y to US$ 1,093.98 Mn in September 2022 as per the data released by the Sri Lanka Customs. This was mainly due to the increase in export earnings from Apparel & Textiles, Tea, Gems & Jewellery, Electrical & Electronic Components and Spices & Essential Oils. Monthly […]
Emirates holds assessment days to recruit cabin crew in Sri Lanka
Emirates, the world’s largest international airline, is looking for candidates to join its multinational cabin crew team with an assessment day planned in Colombo on 26 October. The Dubai-based airline is looking for individuals who are passionate about delivering simple yet personalised and impeccable hospitality while creating memorable moments for its customers. Safety being one […]
Mastercard secures 50+ travel offers to support the revival of Sri Lanka’s tourism industry
As the situation in Sri Lanka continues to improve, Mastercard today announced its latest effort to promote the island nation as a safe, affordable destination for inbound travelers. With tourism being a key pillar of the country’s economy, restoring holidaymakers’ confidence and appetite to visit Sri Lanka is the natural next step following the relaxation […]
Food Fight: Sri Lanka’s Battle for Food Security
By Lakshila Wanigasinghe World Food Day is observed on 16 October to promote awareness and action to ensure regular access to nutritious food for all. The blog examines Sri Lanka’s struggle to safeguard food and nutrition security amidst the ongoing economic crisis and outlines policy steps to tackle the challenge. Sri Lanka’s economic crisis continues to […]
Mixed Impact on Rated Sri Lankan Corporates from Macroeconomic Challenges: Fitch Ratings
Rated Sri Lankan corporates in consumer-goods retail, power generation and homebuilding will be among the most affected if the economic crisis deepens or is sustained for a prolonged period, says Fitch Ratings. Significant cost inflation affecting demand and profitability, import restrictions disrupting operations, and high interest rates are key risks faced by domestic corporates in […]
Japan to organize Sri Lanka creditors’ meeting over debt crisis: report
Japan is working to organize a meeting of Sri Lanka’s creditors by the end of this year in hopes of solving the country’s debt crisis, the Japanese Yomiuri Shimbun newspaper reported. The meeting, which will discuss such issues as finding ways to reduce debt payments, aims to curb China’s influence by helping Sri Lanka cope […]
Opinion: “Saving” the Economy
by M. Rizwan Muzzammil The economy is shrinking The economy can be likened to a train engine pulling carriages up a hill. The engine represents the wealth generating component of the economy, which is the private sector. This is because the existence of the private sector depends on profits, and since profits are an increase […]
PwC discusses the path towards ESG for food and beverage industry
Committed towards supporting the local food and beverage sector adapt to initiating measurable ESG initiatives, help gain investor confidence and generate much needed foreign revenue, PwC Sri Lanka recently concluded a successful and thought-provoking webinar titled “ESG towards a responsible future in the Food and Beverage Industry”. Participated by decision makers in the food and […]
Hayleys Fabric strengthens biodiversity regeneration efforts, Partners with CEA and local universities
Strengthening its commitment to drive biodiversity regeneration and environmental conservation, Hayleys Group subsidiary and leading textile manufacturer Hayleys Fabric partnered with the Central Environmental Authority (CEA) and the Universities of Peradeniya and Wayamba to champion the protection of habitats connected to tributaries of the Bentota River. The Rs. 1.5 million initiative aims to stabilise the […]