Category: Companies
3D virtual tours of Cinnamon Life and TRI-ZEN apartments launched
May 11, 2020 (LBO) – John Keells Properties has announced that in order to accommodate prospective buyers moving forward with their apartment searches, it is using virtual reality technology to provide virtual tours of show units for its two upcoming residential developments, Cinnamon Life and TRI-ZEN. With respect to the government’s stay-at-home directive in order […]
Emirates Group announces 2019-20 results
Group records 32nd consecutive year of profit of AED 1.7 billion (US$ 456 million) Group revenue of AED 104 billion (US$ 28.3 billion) impacted by planned Dubai International airport (DXB) runway closure in Q1 and COVID-19 pandemic in Q4 Ends year with solid cash balance of AED 25.6 billion (US$ 7.0 billion) Emirates reports a profit of AED 1.1 […]
Colombo Stock Exchange to recommence trading tomorrow
May 10, 2020 (LBO) – The Colombo Stock Exchange will recommence its operations on Monday in line with the decision made by the government to relax curfew regulations in the Western Province. Accordingly, the pre-open session will be from 10.30 to 11.00 a.m. with the open auction beginning at 11.00 a.m. Regular trading will commence […]
Central Bank urges financial institutions to reduce lending rates without delay
May 06, 2020 (LBO) – Sri Lanka’s Central Bank urges financial institutions to reduce lending rates without further delay. Failing which, the Central Bank said they will be compelled to take appropriate regulatory action to bring down market lending rates. “The Monetary Board noted, with disappointment, that market lending rates have not declined in line […]
Central Bank of Sri Lanka further reduces policy rates to support economic activity
May 06, 2020 (LBO) – The Monetary Board of the Central Bank of Sri Lanka, at a special meeting held on 06 May 2020, reviewed the current monetary policy stance and decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 50 basis points […]
ADB’s trade finance program supports medical supplies to combat COVID in Sri Lanka
May 06, 2020 (LBO) – The Asian Development Bank (ADB) has provided a guarantee for a $25 million trade loan to the State Pharmaceuticals Corporation of Sri Lanka (SPC) to purchase medical supplies as part of the country’s response to the novel coronavirus disease (COVID-19) pandemic. The supplies, to be purchased by SPC with the […]
Private sector supports establishment of a Molecular Diagnostic Laboratory at IDH
May 04, 2020 (LBO) – A new Molecular Diagnostic Laboratory of the National Institute of Infectious Diseases (IDH) was declared open on 28 April 2020 by Dr. Anil Jasinghe, Director-General of Health Services. The new Laboratory was made possible due to funding and pledges received from private sector donors Melstacorp PLC, John Keells Holdings PLC, […]
Dialog commences critical ICU development at Negombo general hospital
May 04, 2020 (LBO) – As the first stage of the recently pledged 200 million rupees towards urgently required ICU capacity development in hospitals selected by the Ministry of Health (MOH), Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, commenced immediate civil reconstruction for the expansion and provision of all equipment to establish a fully […]
Local oil palm industry ready to support govt. domestic agriculture drive: POIA
May 04, 2020 (LBO) – Sri Lanka’s oil palm cultivators can provide tangible support to the government’s efforts to promote local agriculture and import substitution as a response to the impact of the COVID-19 pandemic on the national economy, the sector’s apex industry association has said. In a statement, the Palm Oil Industry Association (POIA) […]
Resumption of civilian life and office work begins from May 11
May 04, 2020 (LBO) – While the curfew is in force in the districts of Colombo, Gampaha, Kalutara and Puttalam, the resumption of civilian life and state and private sector activities will begin from Monday, 11th May, the Presidents office said. In order to ensure return to normalcy in civilian life and to revive the […]
Central Bank extends deadline for submitting requests for debt moratoriums
May 01, 2020 (LBO) – Sri Lanka’s Central Bank has extended the deadline (30.04.2020) for submitting requests for debt moratoriums and 4 percent per annum refinancing facility for two months working capital, until 15 May 2020. The decision has been taken after considering the difficulties faced by some customers of financial institutions affected by the […]
SEC grants relief measures; extends due date for submission of audit reports
Apr 30, 2020 (LBO) – Sri Lanka’s Securities and Exchange Commission having taken into consideration the challenges faced by the licensed entities in complying with certain regulatory requirements due to COVID-19, has decided to grant several relief measures. I. Extensions of time for the licensed/registered entities to submit reports to the SEC The due date […]