Category: Economy and Markets
ICRA Lanka assigns [SL]A-rating for Prime Lands and Prime Residencies
Mar 11, 2020 (LBO) – Rating action ICRA Lanka Limited, Subsidiary of ICRA Limited, Group Company of Moody’s Investors Service has assigned the Issuer rating of [SL]A- (pronounced SL A minus1) with Stable outlook for Prime Lands Residencies (Pvt) Limited (“PRIMER”/ “the Company”). ICRA Lanka has taken a consolidated view of the Prime Group, in […]
Sri Lanka stocks close down
Mar 11, 2020 (LBO) – Following global markets, the Colombo Bourse took an expected beating Tuesday with both indices tumbling heavily during the initial ten minutes of trading. With the S&P SL20 index succumbing to a 5% drop at the initial hour, a trading halt was imposed for half an hour. Although, the initial panic […]
CSE trading halted temporarily: Trading to re-commence by 10.12 am
Mar 10, 2020 (LBO) – Trading at Sri Lanka’s Colombo Stock Exchange (CSE) has been halted temporarily following the S and P index dropping below 5 percent, stockbrokers said. The S and P index fell 124.28 points or 5.01 percent soon after it opened for trading Tuesday following a long weekend break. “The market will […]
SriLankan Airlines suspends flights to Kuwait : Qatar suspends travel to and from island
Mar 10, 2020 (LBO) – SriLankan Airlines has suspended its services between Sri Lanka and Kuwait from 6 March to 12 March. The move is following a decision by the Directorate General of Civil Aviation of Kuwait to temporarily suspend incoming flights from Bangladesh, Philippines, India, Sri Lanka, Syria, Lebanon and Egypt for one week. […]
Women in the workforce and why it matters for Sri Lanka: World Bank
To mark this year’s International Women’s day, we’re discussing how Sri Lanka can benefit from more women joining the workforce and what can be done to improve their job prospects and remain at work. World Bank Country Director for Maldives, Nepal and Sri Lanka Dr. Idah Pswarayi-Riddihough was featured in a “Spotlight Series” interview with […]
AXIATA digital labs embarks on successful journey as digital service provider
Mar 10, 2020 (LBO) – AXIATA Digital Labs (ADL), a subsidiary of the AXIATA Group, Berhad, Malaysia has emerged as a ground breaking digital start-up providing optimal digital solutions, primarily to AXIATA Group. ADL was launched on the 1st of January 2019 and celebrated its first anniversary in 2020. The tech start-up thrives as the […]
COVID-19 Outbreak to have significant economic impact on developing Asia: ADB
Mar 10, 2020 (LBO) – The ongoing novel coronavirus (COVID-19) outbreak will have a significant impact on developing Asian economies through numerous channels, including sharp declines in domestic demand, lower tourism and business travel, trade and production linkages, supply disruptions, and health effects, according to a new analysis by the Asian Development Bank (ADB). The […]
Emirates introduces generous waiver policy
Mar 10, 2020 (LBO) – Emirates is providing customers more flexibility, choice and value through its newly introduced waiver policy for all booked tickets issued on or from 7 March until 31 March 2020, allowing customers across its network the choice of changing their travel dates without change and reissuance fees. The move provides Emirates’ […]
‘s more difficult to register a small business than a limited company: Report
Mar 06, 2020 (LBO) – Advocata Institute launching its report on regulations to small business and red tape project called for the removing of legal and regulatory barriers faced by small and micro entrepreneurs. The report looks in on the main barriers for the establishment and operation of these enterprises. “We see the regulatory processes, […]
Huawei signs MOU with Sri Lanka’s Moratuwa University to enhance ICT knowledge transformation
Mar 06, 2020 (LBO) – Huawei Sri Lanka and University of Moratuwa (UOM) entered into a Memorandum of Understanding (MoU) to enable the educated and talented youth in Sri Lanka to further enhance their skills in the ICT domain and to be competitive in the ever growing ICT industry, as part of Huawei’s long-term digital […]
COVID-19 outbreak likely to affect Sri Lanka’s economic performance : Central Bank
Mar 05, 2020 (LBO) – The exact impact on the Sri Lankan Economy would depend on the extent of the global spread of the COVID-19 outbreak, its persistence and policy responses of major economies and trading partners, the Central Bank said. “Sri Lanka’s economic links with China could be directly affected as significant volumes of […]
Policy interest rates of Central Bank of Sri Lanka to remain unchanged
Mar 05, 2020 (LBO) – The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 04 March 2020, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 6.50 percent and 7.50 percent, respectively, and […]