Tag: lbo
World Bank approves USD80.5Mn additional financing to help SL access to COVID-19 vaccines
The World Bank today approved $80.5 million additional financing to help Sri Lanka access and distribute fairly COVID-19 vaccines and to strengthen the country’s vaccination system and pandemic response. This additional finance builds on the $217.56 million Sri Lanka COVID-19 Emergency Response and Pandemic Preparedness Project, which was approved in April 2020. This new financing will […]
World Bank reassures support for Sri Lanka to build back better from COVID-19
The World Bank’s Country Director for Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos, concluded a successful visit to Sri Lanka Sunday where he reiterated the Bank’s commitment to support the islands efforts towards recovery and to build back better from the COVID-19 shock. Based in Kathmandu, Nepal, this latest mission followed the Country Director’s introductory […]
Sri Lanka’s tech startup program spiralation opens for 2021 applications
Sri Lanka’s apex Government body in driving the tech-startup ecosystem, the Information and Communication Technology Agency of Sri Lanka (ICTA) is now calling applications for its national startup initiative ‘Spiralation’ for the ninthyear running. The Spiralation series has so far supported more than 90 successful startups across multiple industry verticals -including health, finance, agriculture, education […]
ICRA Lanka: Low-interest rates, Who are the winners and losers?
Key Takeaways § Price increase in treasuries have helped primary dealers and banks to realize substantial capital gains as much as 40-to-60 percent from March 2020 price levels. § Equities attracted a large number of local investors, as historically low interest rates on fixed income assets prompted them to seek alternative investments. Investors saw their portfolio valuations […]
ComBank becomes Sri Lanka’s first carbon-neutral bank
The Commercial Bank of Ceylon has become the first Sri Lankan bank to achieve carbon neutrality for the entirety of its operations, encompassing all 268 branches and its head office – a monumental milestone in the Bank’s commitment to the environment. Becoming a net-zero carbon company was one of Commercial Bank’s Green Goals, to be […]
SL and World Bank sign USD70Mn loan to redevelop major transit terminal in Kandy
The Government of Sri Lanka and the World Bank signed a loan agreement in the amount of 69.33 million dollars for the Kandy Multimodal Transport Terminal Development Project, which will develop the Good Shed terminal in Kandy. Located at the city center and providing access to the railway station, the modernized terminal will integrate rail, bus, three-wheeler, […]
Emirates to increase services to Colombo to 7 a week from 3 May
Emirates has announced it will increase its services to Colombo from six to seven flights a week, with the seventh weekly flight commencing 3rd May. The additional service will serve rising market demand and enhance connectivity to and from Colombo via Dubai. The added flight will operate every Monday. Emirates flight EK650 will depart Dubai […]
Eco Spindles talks responsible recycling at CFW’s Responsible Fashion Summit
At the recently concluded Responsible Fashion Summit organised by the Colombo Fashion Week (CFW), Sri Lanka’s largest plastic recycler Eco Spindles was among industry experts in an invaluable panel discussion themed ‘Circularity in a Fashion Supply Chain’. Representing Eco Spindles at the discussion, Chief Executive Officer at Eco Spindles Yarns, Nalaka Seneviratne elaborated on how […]
RPCs urge priority for worker vaccination ahead of new wave of COVID cases
The Planters’ Association of Ceylon (PA) called on Government and Public Health officials to ensure that estate-sector workers made a top priority in the COVID-19 vaccination drive, given their essential contributions to the national economy. In a backdrop where COVID-19 cases are once again on the rise both locally and globally, while preparations are already […]
Sri Lanka vehicle registrations down in March 2021
Total vehicle registrations marginally reduced to 3,556 units in March down from 3,558 units in Feb but significantly down from 13,219 units 12 months ago. The comparative figure was 35,150 units 24 months ago. In the locally assembled category Under cars Zotye Z100 recorded 22 units in March down from 79 units in Feb and […]
WB says as SL should focus on competitiveness and debt sustainability to ensure resilient rebound
Despite the heavy toll of the COVID-19 pandemic on Sri Lanka’s economy and the lives of its people, the economy will recover in 2021, though challenges remain, says the latest World Bank Sri Lanka Development Update: Economic and Poverty Impact of COVID-19 released today. The Sri Lanka Development Update (SLDU) notes that the country, hit with an unprecedented economic […]
Gazette notification to recruit 40 eligible candidates to join Sri Lanka Foreign Service issued
The Foreign Ministry is pleased to inform that a gazette notification to recruit 40 eligible candidates to join the Sri Lanka Foreign Service (SLFS) is now published. The Gazette Notification No. 2,223 dated 9 April 2021 can be accessed at http://www.documents.gov.lk/files/gz/2021/4/2021-04-09(I-IIA)E.pdf. Members to the Foreign Service are selected every few years through an open competitive recruitment […]