Category: Companies
SEC introduces 3-Tiered Circuit Breaker attached to S&P SL20
Apr 30, 2020 (LBO) – Sri Lanka’s Securities and Exchange Commission has introduced a Three Tiered Circuit Breaker structure which is to be attached to the S&P SL20 Index in order to eradicate distortion in the S&P SL20 Index by providing a layered approach. The circuit breaker mechanism will take effect from the date the […]
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Apr 30, 2020 (LBO) – Fitch Ratings has downgraded the rating on SriLankan Airlines Limited’s (SLA) USD175 million government-guaranteed 7% unsecured bonds due 25 June 2024 to ‘B-‘, from ‘B’. KEY RATING DRIVERS The rating action follows the downgrade of Sri Lanka’s Long-Term Foreign- and Local Currency Issuer Default Ratings to ‘B-‘, from ‘B’, with […]
Mobitel empowers Sri Lanka Police with hi-tech body cameras
As part of supporting the nation’s fight against COVID-19, Mobitel, Sri Lanka’s National Mobile Service Provider introduced the latest Body Cameras to Sri Lanka Police at an event held at the Police Park Headquarters recently. The landmark event which took place under the patronage of the Senior Deputy Inspector General (DIG) of Sri Lanka Police, […]
Mangala asks President to re- summon Parliament to approve public expenditure
Apr 29, 2020 (LBO) – Former Finance Minister Mangala Samaraweera in a letter to President Gotabaya Rajapaksa has urged him to exercise his powers as the Head of State at this critical time and to summon the Parliament as soon as possible with the support of all parties represented in Parliament. He said that this […]
MAS: Engagement to fight COVID-19 crisis through our manufacturing
Apr 29, 2020 (LBO) – Sri Lanka’s MAS joins in the global efforts to contain the spread of COVID-19, protect the healthcare givers at the frontlines and give hope through the expertise of manufacturing apparel and performance wear. Committed as always, to do the right thing, to protect and provide for our people and the […]
Clearing of vehicles from Hambantota port slow
Apr 28, 2020 (LBO) – The clearance of cars at the Hambantota Port is slow, and the port is concerned that they would not meet the April 30th deadline for clearing imported vehicles. “No vehicles were cleared over the weekend, and the number cleared on Monday was 203 while port dues have been paid for […]
Emirates SkyCargo supports Sri Lankan exporters’ supply chain
Emirates SkyCargo, the freight division of Emirates, has helped Sri Lankan exporters despatch nearly 100 tonnes of local produce to markets in Europe, the Middle East and Asia over the past two weeks, keeping supply chains and revenue flows open despite the suspension of scheduled passenger flights from Colombo. The cargo airline deployed two Boeing […]
Opinion: Building wealth amid COVID-19
By Blue Ocean Group of Companies Time in the Market Is Better Than Timing the Market The COVID-19 pandemic has swept across the world, not merely spreading disease but diffusing tough luck for the global economy, global health, our communities, our economies and our investments in a forceful defensive stance. Hastily the real estate and […]
Dialog Axiata pledges Rs. 200Mn for ICU capacity development
Apr 26, 2020 (LBO) – Dialog Axiata pledged 200 million rupees for urgently required ICU capacity development in hospitals selected by the Ministry of Health (MOH). This will be utilised for expanding healthcare systems to provide critical care services and provide accessibility to intensive care for patients. There is an ever-increasing requirement to expand the […]
Union Bank to cease its operations as a Primary Dealer
Apr 24, 2020 (LBO) – Monetary Board of the Central Bank of Sri Lanka has granted approval for Union Bank of Colombo to cease its operations as a Primary Dealer with effect from 01 May 2020. Union Bank will continue to function as a Dealer Direct Participant in the LankaSettle system and transact in scripless […]
SL appoints Presidential task force on economic revival and poverty eradication
Apr 23, 2020 (LBO) – President Gotabaya Rajapaksa has appointed a Presidential Task Force in charge of Economic Revival and Poverty Eradication. It has been established under the powers vested in the President by the Constitution. The Task Force is responsible for reviving the economy and eradication of poverty while paying special attention to the […]
Chair of SL Tourism requests banks and fin institutions to give full support to industry
Apr 23, 2020 (LBO) – Sri Lanka Tourism plans for an early revival post-COVID-19, as the country starts opening up gradually from this week. A major step was the Cabinet approval of the critical five-year global promotion initiative last week and plans are underway to finalize the Terms of Reference and appointment of the Procurement, […]