Economic

There are responsibilities that are inherent for a State bank when it comes to a national crises. The almost complete closure of the Sri Lankan economy since the COVID-19 lock-down on 16 March was surely a national crisis bringing about unprecedented challenges, with a fear of the financial distress to come and the unknown.

Sri Lanka’s coir and coir product export industry is gradually gaining momentum amidst the COVID-19 crises as most of the fibre mills and processing factories resume production within weeks of the virus outbreak.

මෙතෙක් අප රටට ආනයනය කළ වාහන ලිහිසිතෙල් වෙනුවට, ඒවා අප රටේම නිපදවීම ලංකා ඛනිජතෙල් සංස්ථාව විසින් පසුගිය සතියේ සිට ආරම්භ කර තිබේ.

The Colombo stock market saw a welcome return to positive sentiment with both indices up with Rs. 1 billion turnover.

Government is to approach popular worldwide online system PayPal to start the inward money transferring service to facilitate the e-market place enabling Sri Lankan brands, entrepreneurs and companies to have more opportunities.

Sampath Bank yesterday (11) admitted before the Kaduwela Magistrate that their customers had faced errors and shortcomings at the hands of the bank.

Emirates yesterday announced the launch of outward-bound passenger flights from Sri Lanka, starting Saturday 20 June, to facilitate travel for foreign nationals as well as Sri Lankans who need to return to families, jobs or education overseas.

A large number of small and medium businesses are on the verge of winding up as those SMEs now face financial constraints due to loss of business as a result of corona virus lock down during 52 day countrywide curfew, Labour Department survey observed

President Gotabaya Rajapaksa yesterday charged that the Central Bank has failed in its duty over the collapse of ETI Investments and cannot shy away from the responsibility.

Airlines have expressed readiness to resume flights to Sri Lanka by mid-July, two weeks earlier than the Government’s announced planned reopening of the country to international travellers.

අගෝස්තු මස 01 වනදා හෝ ඊට පෙර දිනයක දී සංචාරකයින් සඳහා යලි කටුනායක ජාත්‍යන්තර ගුවන්තොටුපළ විවෘත කිරීමට අපේක්ෂා කරන බව අමාත්‍ය ප්‍රසන්න රණතුංග මහතා පවසයි.

Colombo City Tourist Hotels Association (CCTHA) yesterday welcomed moves to open the country for tourists from 1 August, but expressed concern over the high visa fee of $ 100 per person, to partly cover the cost of PCR tests and other health safety measures.

Rs. 6.9 b worth of applications submitted to CB; only those worth Rs. 2.6 b approved so far Rs. 1.6 b lent to date under CB refinance scheme, Rs. 11 b outside

The Colombo stock market, for the second consecutive day, remained bearish though closing the week positive thanks to early gains.

Ceylon Petroleum Corporation (CPC) has started the production of lubricant oil and supplies it to the market last week enabling motorists to buy lube oil made in Sri Lanka

With the 52 day protracted countywide curfew lock down pushing the Sri Lankan economy into recession in the current fiscal, the dwindling revenue and increasing public expenditure further downside risks to the economic outlook.

Cabinet approval given to continue procurements without competitive bidding process for one year

Dubai (Reuters): Emirates laid off more pilots and cabin crew on Wednesday in a second day of redundancies at one of the world’s biggest long-haul airlines, three company sources said.