Category: Companies
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, […]
Sri Lankan consumer retail, construction, hotels most affected: Fitch Ratings
Apr 22, 2020 (LBO) – Fitch-rated Sri Lankan corporates in consumer goods retail, construction and hotels will be among the most affected by the coronavirus pandemic in Sri Lanka, says Fitch Ratings. Full statement Companies in consumer goods retail and construction-related activities also have lower rating headroom than in most other sectors. The ultimate impact […]
SriLankan Airlines special flights to bring back stranded in India, Pakistan and Nepal
Apr 21, 2020 (LBO) – SriLankan Airlines will operate special flights from India’s Amritsar, Coimbatore, Pakistan’s Karachi, Lahore and Nepal’s Kathmandu to bring home 433 Sri Lankan students who have been stranded overseas due to the prevailing travel restrictions imposed in view of the COVID 19 pandemic. These special flights are being operated as part […]
Yenlo achieves highest WSO2 reseller status as platinum VAR
Yenlo was named a WSO2 Platinum Value-Added Reseller in recognition of its success in growing global customer adoption and delivering best-in-class open source integration and API management solutions based on the WSO2 platform. Global integration specialist Yenlo today announced that the company is now a WSO2 Platinum Value-Added Reseller, the highest reseller status recognized by […]
Opinion: COVID-19 and foreign exchange woes: Can Sri Lanka find a way out?
Bilesha Weeraratne Growing pressure on Sri Lanka’s scarce foreign exchange resources, due to the wide spread of COVID-19 across the globe, is now more real than ever before. To ease this pressure, the Central Bank of Sri Lanka (CBSL) has taken many measures to attract as well as retain more foreign exchange in Sri Lanka. […]
‘s places ratings of BOC, HNB & Sampath Bank on review for downgrade
Apr 20, 2020 (LBO) – Moody’s Investors Service has placed the B2 long-term local currency deposit and foreign currency issuer ratings of Bank of Ceylon (BOC), Hatton National Bank (HNB) and Sampath Bank on review for downgrade. At the same time, Moody’s has downgraded the Baseline Credit Assessment (BCA) of BOC to b3 from b2 […]
Condo Ass. requests Govt to permit commencement of construction projects
Apr 19, 2020 (LBO) – The Condominium Developers Association of Sri Lanka (CDASL) in a letter to the President of Sri Lanka has requested the government to permit and facilitate the commencement of construction projects as soon as practically possible. “All construction sites in Sri Lanka are suspended, and with them employment and income for […]
Online forum on COVID-19 with Tourism industry leaders by Advocata
Advocata Institute is hosting a panel discussion with tourism industry leaders, Kimarli Fernando (Chairperson, Sri Lanka Tourism), Vipula Gunatilleka (CEO, SriLankan Airlines), Sanath Ukwatte (Chairman, Sri Lanka Hotel Association), Mahen Kariyawasam (President, Sri Lanka Inbound Travel Operators); moderated by Murtaza Jafferjee (Chair, Advocata Institute) on the impact of COVID-19 on Sri Lanka’s Tourism Industry. The […]
VIDEO: Discussion on impact of COVID-19 on Sri Lankan export industry
The Advocata Institute hosted an online discussion featuring Ashroff Omar (CEO, Brandix), Dilhan Fernando (CEO, Dilmah Tea), Romesh David (CEO, SAGT) and Prabhash Subasinghe (Chairman, Sri Lanka Export Development Board), moderated by Murtaza Jafferjee (CEO, JB Securities). The discussion covered the current challenges faced by Sri Lankan businesses and route to recovery, with a special […]
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Apr 16, 2020 (LBO) – Fitch Ratings has revised the Outlook on Sri Lankan consumer-durable retailer Abans PLC’s National Long-Term Rating to Negative from Stable. Fitch has simultaneously affirmed the National Long-Term Rating at ‘BBB+(lka)’, the ‘BBB+(lka)’ rating on Abans’ outstanding senior unsecured debentures and the ‘F2(lka)’ National Short-Term Rating on its commercial paper. The […]
‘s Central Bank reduces bank rate
Apr 16, 2020 (LBO) – The Monetary Board of the Central Bank at its meeting held yesterday, having observed the cumulative reduction of the key policy interest rates of SDFR and SLFR by 200 basis points each since 31 May 2019, has decided to allow the bank rate to automatically adjust in line with the […]