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Despite being considerably affected by the recent COVID -19 outbreak, Sri Lanka Tourism is currently taking several measures to revive the Tourism sector by collaborating with key international organizations, and platforms, through destination promotional marketing among new markets via social and digital media. It is very well known that the Travel and Tourism industry worldwide…
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Newton Lanka, an extension of Newton TAC Malaysia recently provided Safe Shoppers tool kit for Domino’s in a bid to strengthen the Zero Contact experience for Dine-In. The campaign was launched as part of the Newton’s Safe Shoppers program considering the reluctance shown by customers to dine at restaurants and cafes due to safety concerns…
In 2019, global insurance premiums increased by 4.4% to EUR 3,906bn – clocking the strongest growth in four years Asia (ex Japan) was setting the pace with 6.8% and total premiums reached EUR 947bn – which China being responsible for almost half of all premiums written in the region 2020 will be different: Premium income…
Midas Safety Sri Lanka, part of world’s leading private-label safety glove manufacturer Midas Safety, donated dry ration packs to vulnerable families affected by the economic impact of the novel coronavirus, with the motive of helping them cope with the loss of their daily income. The 1,200 dry ration packs comprising of basic essentials such as rice, tea, salmon, dhal…
~ Sunlight, Marmite and Vim ranked among Top 10 ‘Most Loved Brands’ ~ Unilever Sri Lanka, the manufacturer of several of the country’s leading FMCG brands, was adjudged the top ‘Multinational Corporate Brand,’ and three of its iconic brands Sunlight, Marmite and Vim have ranked within the top 10 ‘Most Loved Brands,’ according to…
Sampath Bank recently conducted two webinars under its ‘Sampath Saviya’ entrepreneurship development programme to offer advice to SMEs on how best to recover from the impact of the COVID-19 pandemic on their businesses. These webinars were facilitated by top professionals and conducted free of charge for any SMEs that wished to attend. The first webinar…
Payment Relief Schemes beyond moratoria Up to 20% Rebates on early settlement of accrued interest during moratorium periods No Capital Payments for selected periods Debt Consolidation Plans Additional moratorium periods As its commitments to providing relief to businesses affected by the COVID-19 pandemic continue to grow exponentially, the Commercial Bank of Ceylon has announced the…
Groundbreaking 15.6″ laptop with 4K UHD OLED display and 14″ full-width 4K ScreenPad Plus secondary touchscreen for endless creative possibilities ASUS announced the launch of their futuristic ZenBook Duo series of laptops with the all-new screen ScreenPad Plus secondary displays that expand and enhance the interactive capabilities offered by the original ASUS ScreenPad. The…
JDC Printing Technologies (Pvt) Ltd, a fully-owned subsidiary of Nawaloka Holdings recently introduced the brand new Konica AccurioLabel 230 digital press to the local printing market. The AccurioLabel 230 is an advanced digital label printing system for commercial printers and label converters and can be used with existing systems or as a brand new entity….
Sri Lanka’s top integrated financial services institution HNB FINANCE, consolidated its position as a leading employer when it was certified for the fourth consecutive year through an independent study conducted by the Great Place to Work Institute. The Certification Program assesses existing people practices and employee experience in workplaces based on the five principals of credibility, respect fairness,…
oneworld® has launched an information portal to provide customers the latest updates on the health and well-being measures they can expect while travelling, further underlining the commitment by the global alliance’s member airlines to the safety and care of their passengers. Hosted on oneworld.com, the portal serves as a one-stop customer resource for information on…
Top News
MillionSpaces brings together leading corporates MAS, Hemas, JKH, Virtusa and PwC, in a forward-thinking webinar on adapting to a post-COVID work environment. It’s hard to draw positives from a global crisis such as COVID-19, one that has taken hundreds of thousands of lives and impacted millions more globally, but the reality of crises such as…
Alternative reference rates are gradually replacing Libor in new contracts but it is still being used, so associated risks persist Some existing contracts will likely prove incapable of transition, particularly in structured finance The London Interbank Offered Rate (Libor) will likely be discontinued at the end of 2021, but other market standards and issues remain…
The latest data from the Central Bank of Sri Lanka points out that Foreigners had gradually exited from Sri Lanka’s Government Securities (Treasury Bills and Treasury Bonds) and pulled out over Rs. 5,133 million in a week, during the period from 24 June 2020 to 01 July 2020. The value of Government Securities held by…
Bank of Ceylon (BOC) the largest bank and the market leader in the financial services sector in Sri Lanka launched a private placement of Basel III Compliant, Unlisted, Unsecured, Subordinated, Perpetual, Additional Tier I Capital Bond issue with Non-Viability Write Down features. The amount to be raised was Rs. 3 billion with an option to…
The Board of Investment of Sri Lanka signed an agreement with Dart Global Logistics to set up a state-of-the-art logistics fulfillment center, at the Muthurajawela Industrial Zone located in Kerawalapitiya, Wattala with an investment of over US$ 3 Million. The agreement was signed by Susantha Ratnayake, Chairman BOI and Jude Wijesundara, Chief Operating Officer and…
The Monetary Board of the Central Bank of Sri Lanka, acting in terms of the Regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the business and activities of a Primary Dealer for a period…
Sri Lanka has not been exempted from the Global Travel Advisory or border restrictions at this initial stage, the British High Commission said in a statement yesterday (05). The UK has announced a change to its Global Travel Advisory, which advises British nationals against all but essential international travel. From 4 July, the UK will exempt…
Nawaloka Medicare (Private) Limited, which is a fully owned subsidiary of Nawaloka Hospitals PLC, will be expanding its services by constructing a six-storied building, upon a land taken on lease of 30 years. In a stock exchange filing the company noted that “Nawaloka Medicare (Private) Limited bearing company registration number PV 93186 and having its…
Analysis
Hot on the heels of a scathing review of the country’s monetary policy by President Gotabaya Rajapaksa on 16 June, in response to the COVID-19 crisis, the Central Bank of Sri Lanka announced a further reduction of the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of licensed commercial banks (LCBs). This lowering…
By Harini Weerasekera and Chamini Thilanka The susceptibility of smokers to contract COVID-19 has been recognised by the World Health Organisation (WHO) and other medical authorities. In Sri Lanka, concerned parties have called for a temporary ban of cigarette sales as a measure to contain the spread of the virus – a commendable move. However, beyond the pandemic, it…
Sri Lanka’s corporates would have breathed a collective sigh of relief in May as the Colombo Stock Exchange (CSE) opened for trading following an extended shutdown in the face of the COVID-19 outbreak and imposition of curfew. The move came at a time when businesses were looking to get back on track given the hit…
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