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VIDEO: How do virus tests like PCR actually work?
A new virus emerges and spreads like wildfire. In order to contain it, researchers must first collect data about who’s been infected. Two main viral testing techniques are critical: one tells you if you have the virus and the other shows if you’ve already had it. So, how exactly do these tests work? Cella Wright […]
Sri Lanka seeks USD1.1bn special SWAP facility from India
May 24, 2020 (LBO) – President Gotabaya Rajapaksa yesterday asked Indian Prime Minister Narendra Modi to help Sri Lanka by providing a special SWAP facility of 1.1 billion US dollars to deal with country’s foreign exchange issues. “If the Government of India could provide USD 1.1 billion special SWAP facility to top up USD 400 […]
Central Bank cancels finance business licence of The Finance Company
May 22, 2020 (LBO) – Sri Lanka’s Central Bank has decided to cancel the finance business licence issued to The Finance Company (TFC), in terms of the FBA with effect from today. Accordingly, TFC is not permitted to engage in Finance Business under the Finance Business Act No.42 of 2011 (FBA) with effect from such […]
Possibility of investing ETF & Samurdhi money in producing medicine explored
May 22, 2020 (LBO) – The possibility of investing money belonging to the Employees Trust Fund (ETF) and the Samurdhi Movement in the production of medicine has been explored. This was explored during a discussion with the Chairmen of the two-State Pharmaceutical Corporations held at the Presidential Secretariat yesterday. If such a mechanism could be […]
‘s headline inflation decreased further in April
May 22, 2020 (LBO) – Headline inflation as measured by the year-on-year change in the National Consumer Price Index has decreased to 5.9 percent in April 2020 from 7.0 percent in March 2020, the Statistics Department data showed. This was driven by the monthly decline of prices of the items in the Food category and […]
John Keells Holdings net profit down by 34-pct
May 21, 2020 (LBO) – The profit after tax attributable to equity holders of the parent for the financial year ended 31 March 2020 has been decreased by 34 percent to Rs.9.41 billion, annual report of the diversified conglomerate John Keells Holdings showed. Profit, however, has been adjusted for two one-off impacts thus recurring adjustments […]
Prime Group sets benchmark for real estate industry with credit rating of A- stable
Property magnet Prime Group makes history as the first institution in the Sri Lankan real estate industry to receive a prestigious issuer rating of [A-] Stable from ICRA Lanka, a group company of Moody’s Investors Service. The rating was awarded based on a consolidated view of the exceptional financial and operational linkages of Prime Lands […]
COVID-19: Human development on course to decline this year for first time since 1990
May 21, 2020 (LBO) – Global human development – which can be measured as a combination of the world’s education, health and living standards – could decline this year for the first time since the concept was introduced in 1990, the United Nations Development Programme (UNDP) said recently. “The world has seen many crises over […]
HNB Finance completes successful CSE listing
May 21, 2020 (LBO) – HNB Finance a financial services provider, announced that the company’s shares are now listed on the Colombo Stock Exchange under the Diri-Savi Board. The first to be listed in over two years, HNB FINANCE’s Initial Public Offering (IPO) via an Offer for Sale on the Colombo Stock Exchange, was oversubscribed […]
S&P lowers Sri Lanka’s credit rating to ‘B-’
May 21, 2020 (LBO) – Rating agency S&P has lowered Sri Lanka’s long-term sovereign credit rating to B- from B, with a stable outlook, citing the government’s worsening fiscal position. S&P expects the COVID-19 outbreak to push Sri Lanka’s economy into a recession in 2020, against earlier expectations of a rebound. This would weaken Sri […]
Ad agency’s utilise modern business model geared for ‘Work From Home’ to share cost-benefit with clients
News Publisher and Quire Sri Lanka, Business models geared towards managing agile working staff better equipped to manage COVID-19 lockdown For most Sri Lankans, since March 2020 the economic impact of the COVID-19 pandemic has led to a large-scale effort to promote “work-from-home” (WFH) along with the categorization of “essential workers”. Leaving several industries, including […]
Commercial Bank reduces lending rates of loans, leases, pawning & OD facilities
May 21, 2020 (LBO) – The Commercial Bank of Ceylon has announced a reduction of lending rates across the board in response to the present needs of individual and corporate borrowers and in line with the downward trend of interest rates in Sri Lanka. Effective immediately, the rate cut encompasses all categories of new loans […]