Category: Industry
SL Treasury, Central Bank should consider credit guarantees for Covid-19 distressed bank loans
By the Advocata Fellows: Liquidity injections will impact forex market and debt repayments Even though Sri Lanka’s economy has opened up, businesses are still recovering from the dual shock of the locally imposed curfew as well as the global fallback from the coronavirus. A vast majority of Sri Lankan businesses are in need of support […]
ComBank further slashes lending rates
Jun 26, 2020 (LBO) – The Commercial Bank of Ceylon has announced a further lending rate cut, slashing rates by up to 2 percent on all categories of loans in a continuing effort to bolster businesses affected by the COVID-19 pandemic by providing affordable access to desperately-needed funds. The Bank took steps to reduce lending […]
” offers special low-interest business loans
Jun 25, 2020 (LBO) – Sampath Bank has rolled out a host of special business loans and gold loans under its Revive Sri Lanka initiative at a low-interest rate of 9% p.a. Sampath Bank is now offering special low-interest Sampath Diriya loans of Rs.10 million up to Rs. 100 million at 9% p.a. under the […]
SriLankan Airlines converts passenger aircraft to full freighter supporting exporters
Jun 25, 2020 (LBO) – SriLankan Airlines has converted a wide-body passenger aircraft into a dedicated cargo aircraft to support export industries and to keep the country connected with the global economy during the pandemic. This converted Airbus A330 aircraft will commence operations today to key destinations in the Far East and Europe. The reconfiguration […]
Sri Lanka inaugurates new ADB funded COVID-19 test lab
Jun 25, 2020 (LBO) – The Asian Development Bank (ADB) has funded the construction and equipment of a new molecular polymerase chain reaction (PCR) laboratory at the Colombo East Base Hospital to support Sri Lanka in its response against the coronavirus disease (COVID-19) pandemic. The facility was declared open by Minister of Health and Indigenous […]
SL should aim for V-shaped economic recovery post COVID 19 : Cabraal
Jun 25, 2020 (LBO) – Ajith Nivard Cabraal, advisor to the Prime Minister on Economic Affairs says that Sri Lanka should aim for V-shaped economic recovery and aspire for high growth in the immediate future. Elaborating further on the topic Cabraal told Lanka Business Online exclusively. ……..
President sets one-year deadline for Lanka Salt to be profitable
Jun 24, 2020 (LBO) – President Gotabaya Rajapaksa has given one year’s time to Lanka Salt Limited which runs at a loss since 2018 to earn a profit. The profit earned by the Lanka Salt Limited in 2016 stood at Rs. 70 million. In 2017 it declined to Rs. 32 million. The organization made a […]
Sri Lanka tourism post COVID-19 – way forward
Jun 24, 2020 (LBO) – Following Sri Lanka’s successful containment of COVID-19, Sri Lanka Tourism has been collaboratively exploring avenues of re-positioning Sri Lanka as the world’s number one destination with an excellent health care system, by introducing extensive health and safety protocols to ensure a ‘Safe and Secure’ traveller experience. Through an extensive consultative […]
Nations Trust Bank launches Rs.7Bn “Nations Diriya” fund to support economic revival
Jun 24, 2020 (LBO) – Nations Trust Bank announced the launch of 7 Billion rupees internally generated funds dedicated to extending financial support to key industries, enabling them to recommence their businesses and in turn boost the national economy. With the “Nations Diriya” support fund, the Bank will reach out to exporters under “Nations Apanayana […]
John Keells Holdings secures USD 175 mn long-term financing facility from IFC
Jun 23, 2020 (LBO) – Sri Lanka’s diversified John Keells Holdings on Tuesday entered into a long-term financing agreement with the International Finance Corporation (IFC) for US Dollars 175 million to support funding of the Company’s investment pipeline. The company said in a stock exchange filing that this facility is IFC’s largest investment to-date in […]
How to determine the best cloud service provider for your business.
As the COVID-19 pandemic encouraged most businesses to shift to remote work environments, it’s the cloud that made this possible. Although popularity for cloud computing increased in the wake of this pandemic, businesses have long since being depending on its services to make operations faster, simpler and more productive. With businesses that function by otherwise […]
Rooster Jobs launched to help businesses steer recruitment during Covid-19
Jun 23, 2020 (LBO) – Rooster Jobs is a free of charge end-to-end recruitment platform and Applicant Tracking System (ATS) designed to help businesses source suitable candidates. The platform was launched on 11th of May with the motive to assist businesses navigate hiring efficiency amidst the turbulent environment created by Covid-19. Within a short span […]