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Tue, 24 Sep 2024 Today's Paper
Ceylinco Life has announced the payment of Rs.2.87 billion in gross benefits and claims to policyholders in the three months ending March 31, 2020, an increase of 17.7 percent over the first quarter of 2019.
Most Asian markets rose yesterday as a further opening up of economies from lockdown offset worries over worsening China-US tensions, while Hong Kong traders stayed cautious following weekend protests over a controversial proposed security law.
The well-diversified nature helped Aitken Spence PLC to weather two back-to-back crises within one financial year but its leisure sector tilt still had a bearing on the group’s performance, as its tourism business weighed on the group’s revenues
Worker remittances to Sri Lanka in April declined close to a third in what could be the most pronounced fall recorded in a single month, according to the Central Bank data.
Headline inflation as measured by the year-on-year (YoY) change in the National Consumer Price Index (NCPI, 2013=100) decreased to 5.9 percent in April 2020 from 7.0 percent in March 2020.
Hong Kong led a sell-off across world equities yesterday after China introduced proposals to enact a national security law for the city, fanning geopolitical tensions and overshadowing optimism about a further easing of virus lockdowns across Europe
China’s communist rulers avoided setting an annual growth target for the first time in decades yesterday, as they struggle to deal with the “immense” economic challenges caused by the coronavirus pandemic.
The eurozone’s economic slump has “likely bottomed out” after the bloc suffered a disastrous collapse under lockdowns to contain coronavirus, a closely watched survey by IHS Markit said this week.
The Board of Governors of the Asian Development Bank (ADB) yesterday approved ADB’s financial statements and the allocation of its 2019 net income in its first-ever virtual Annual Meeting held amid the novel coronavirus disease (COVID-19) pandemic.
To step up safety standards for riders and drivers during the ongoing Covid-19 pandemic, Uber Sri Lanka has procured and started distributing safety supplies such as masks and sanitisers worth Rs.10 million, free of cost to driver and delivery partne
Lanka IOC has decided to restore the prices of petrol 92 on par with CPC petrol sheds by reducing Rs.5 per litre from midnight yesterday (22).
The Monetary Board of the Central Bank yesterday announced the cancellation of licence of The Finance Company PLC (TFC) with effect from May 22, 2020 as the company failed to lure in credible investors to rectify its serious erosion of liquidity.
Stock markets mostly fell yesterday after rallying for much of the week, with any gains dragged by profit-taking amid concerns over the long-term impact of the virus and worsening China-US relations.
The local banking sector will continue to witness further challenges in its path towards any progress. However, despite the hurdles faced, the industry must look at supporting businesses and individuals by aligning its current operating model to the
The S&P SL20 Index of the Colombo Stock Exchange (CSE) gained 6.28 percent during trading yesterday, bettering the record for the highest ever daily percentage gain of the index which stood at 5.25 percent, set on May 18, 2020.
Prime Group has made history becoming the first institution in the Sri Lankan real estate industry to receive a prestigious issuer rating of [A-] Stable from ICRA Lanka, a group company of Moody’s Investors Service.
Sri Lanka’s Board of Investment (BOI) says positive foreign investor response has been received for the fabric processing park to be setup in Eravur, Batticaloa to source fabrics locally for apparel exporters.
Sri Lanka may benefit from an early buyback of US$1 billion dollar-denominated international sovereign bond (ISB) maturing this October, although buying back ISBs which are maturing in medium to long-term remains unfeasible considering the country’
Premier blue chip John Keells Holdings (JKH) expects the impact of COVID-19 pandemic on its businesses to be “material” in the first and the second quarters of the financial year 2020/21, particularly on the group’s tourism focused businesses.
In his first interview with the media, the newly appointed Securities and Exchange Commission (SEC) Chairman Viraj Dayaratne PC talks about the unprecedented challenges he and his new Commission Members had to face and the tough decisions they had to
The Ceylon Chamber of Commerce submitted its multi-sectoral proposals to the Task Force for Economic Revival and Poverty Alleviation. This was building on the submission made to the President on a Shared Vision for Post-COVID-19 Economic Recovery.
Sri Lanka’s April merchandise exports have fallen to their lowest levels since April 2002, recording a historical drop of 64 percent year-on-year (YoY) to US $ 277.4 million, driven by a record 81.8 percent YoY decline in apparel exports with tea e
Recovery is beyond the 2020 horizon for Sri Lankan corporates and expected is a sharp decline in revenue for most sectors, credit rating agency Fitch Ratings said.
Commercial Bank of Ceylon has announced a reduction of lending rates across the board in response to the present needs of individual and corporate borrowers and in line with the downward trend of interest rates in Sri Lanka.
Ceylon Cold Stores PLC (CCS) reported strong top and bottom line performance for the three months to March 2020, with increased consumer spending amid tax cuts and lower interest rates.
National Development Bank PLC’s (NDB) operating profits held steady during the three months to March 31, 2020, despite the pressure on margins and higher credit costs stemming from the coronavirus-linked additional provisions against possible bad l
Global human development, which can be measured as a combination of the world’s education, health and living standards, could decline this year for the first time since the concept was introduced in 1990, the United Nations Development Programme (U
Standard & Poor’s (S&P) yesterday lowered Sri Lanka’s sovereign rating to ‘B-’ on the country’s weakened fiscal position amid COVID-19 recession while kept the outlook ‘Stable’ as the island nation still has access to sufficient resourc
The world’s biggest narrow fabric and elastics supplier to the garments industry, Stretchline Holdings, of which Sri Lanka’s MAS Holdings is a joint venture partner, has announced a voluntary retirement scheme (VRS) at one of its plants in Sri La
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