Category: Industry
WHO and DFAT donate vital equipment and supplies to fight COVID-19 in Sri Lanka
May 11, 2020 (LBO) – The World Health Organization (WHO) handed over a donation of essential laboratory equipment, hospital equipment, personal protective equipment, and consumables to the Government of Sri Lanka to address the COVID-19 crisis. The procurement, of over 800,000 USD, focused on equipment that is essential to effectively controlling COVID-19 in Sri Lanka. […]
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 […]
EFutures helps Global Vinyl to set up SAP on AWS
Using cloud services can be overwhelming at times especially when your organization has no prior experience utilizing cloud services for any business application deployment beforehand. This article elaborates on how a managed cloud service provider like EFutures Private Limited can ease the transition of business application hosting from on premise to cloud, along with the […]
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 […]
‘ ratings: Fitch
May 06, 2020 (LBO) – Fitch Ratings has downgraded in May 2020 three Sri Lankan banks’ issuer default ratings after it downgraded Sri Lanka’s sovereign rating to ‘B-‘ with a negative outlook and revised down its assessment of the banks’ operating environment, both of which reflect the escalating impact of the coronavirus pandemic on the […]
COVID-19: out of chaos comes opportunity. But opportunity must be seized to become reality.
By Jekhan Aruliah Tinned fish to tin houses: in the weeks of the 2020 Corona curfews we frequently saw on television and on Facebook fish in metal tins donated to families in metal huts. The Covid-19 Crisis shone a stark light on the large segment of our population in Sri Lanka living in chronic dire […]
Sri Lanka Tourism requests all tourists in the island to register
May 05, 2020 (LBO) – Sri Lanka Tourism is in the process of gathering details of all tourists, businessmen and expatriates engaged in the tourism industry of Sri Lanka in the outbreak of COVID-19 Pandemic in the country. According to immigration data, there are 11,389 tourists in the country as of 4th May and Sri […]
Coping with COVID-19: Economics of social media based business in Sri Lanka during crises
Kithmina Hewage and Harini Weerasekera As of January 2018, there were six million active social media users in Sri Lanka, accounting for 30% of the population. The prominence of social media as a platform for information exchange – both globally and in Sri Lanka – is well documented. The current COVID-19 pandemic is probably the […]
New procedure for MCC & LCL delivery of cargo to ease delays
May 05, 2020 (LBO) – Sri Lanka Ports Authority (SLPA) is to introduce a new procedure for MCC and LCL delivery of cargo to curb any delays that may occur in their operations during Covid – 19 period. The new arrangements will be enacted with effect from 05 May 2020 through the Logistics Division of […]