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Tue, 24 Sep 2024 Today's Paper
Responding to the inferences made in recent media reports questioning the government’s ability to honour its debt service obligations, the Central Bank yesterday reiterated the government’s commitment to meeting all its financial obligations.
The G-20 debt suspension initiative is unlikely to ease the significant credit challenges that the coronavirus pandemic has amplified in some frontier market sovereigns, particularly in Africa, Moody’s Investors Service said in a report this week.
Airline passenger traffic is not expected to return to pre-crisis levels until 2023 at the earliest and may suffer even more if new health rules impose an excessive cost burden, the International Air Transport Association (IATA) said.
In an effort to allow global travel and tourism space to bounce back at a faster pace, from the crisis brought about by the ongoing pandemic, a senior representative of the United Nations World Tourism Organisation (UNWTO) highlighted it is imperativ
HNB Finance Limited will commence trading on the Colombo Stock Exchange (CSE) today after an initial public offering (IPO) and an introduction by the company.
Sri Lanka’s economy is expected to contract by an estimated 1.4 percent in 2020, the first time since the economy shrank in 2001, while First Capital Research recalibrated its earlier assessment to a dourer scenario, as the lockdowns prolonged and
Hatton National Bank PLC (HNB) reported modest operating performance for the March quarter (1Q20) while the bottom line received a strong boost from the removal of some taxes on financial services. HNB reported a 12 percent decline in the net interes
The US is facing a severe economic downturn amid the global pandemic, but will not suffer another Great Depression and will see a recovery begin later this year, Federal Reserve Chair Jerome Powell said Sunday. The world’s top economy was strong be
Singer Sri Lanka PLC’s March 2020 top line came in at below the previous year’s levels but reported higher operating profits, possible from reduced selling and administrative costs, as the consumer durables juggernaut failed short of its targets
The International Chamber of Commerce (ICC) has called on governments across the globe to prioritise micro, small and medium enterprises (MSMEs) and stressed the necessary efforts must be taken to fully tailor to support such entities, in the context
BLOOMBERG: Sri Lanka’s dollar bonds have been the worst-performing sovereign notes in Asia this year. But BNP Paribas Asset Management and Union Investment Privatfonds GmbH say it might now be time to buy.
The COVID-19-induced downturn in the Sri Lankan manufacturing sector deepened during April as reflected by further contraction in the Manufacturing PMI, which recorded at an index value of 24.2, with a fall of 5.8 index points from the previous month
As Sri Lanka’s debt burden continues to mount alongside the pressures faced in reducing the implications of the COVID-19 crisis on the economy, Fitch Ratings said it expects the island nation’s debt to reach close to 100 percent of its gross dome
Colombo’s iconic landmark and the single, largest, private mixed development investment in Sri Lanka, Cinnamon Life by the John Keells group, has resumed construction after a lockdown since March 2020.
If there is one thing consistent about business, it’s the inconsistent dynamics of the environment.
With Sri Lanka being commended for its highly successful measures in containing the novel coronavirus, which led to a global pandemic, whilst many developed nations failed to do so, it’s an ideal moment for the country to be positive and turn this
Sri Lanka’s post-COVID-19 economic recovery policies must prioritise mitigating the hardship on masses, restoring economic stability and improving the investment climate for business with pragmatic policies instead of giving into vested interests a
The Monetary Board last week sent instructions to Sri Lankan operations of foreign banks against repatriation of profits and suspended share buybacks for all banks until the end of this year.
Nations Trust Bank PLC (NTB) had been building its loan book, albeit slowly before the pandemic forced the businesses to shutter, which put a strain on its operating performance for the three months ended in March 31, 2020, but the taxes taken off fr
Dialog Axiata PLC stood broadly intact during the quarter ended March 31, 2020 at the operating level, but said future revenues could be lower and profits could be sour from possible non-repayment of customer dues as the company extended credit and d
Sri Lanka Telecom PLC (SLT) reported steady revenues and strong operating profits for the three months ended March 30, 2020, although the telecom juggernaut is facing pressure on revenues, earnings and cash flows from delayed or at times no collectio
Fitch Ratings has assigned DFCC Bank PLC’s (AA-(lka)/Negative) proposed Sri Lanka rupee-denominated senior unsecured, unlisted debentures an expected National Long-Term Rating of ‘AA-(EXP)(lka)’.
Credit extended by banks to the private sector gathered steam in March after making early gains in February, showing initial signs that the Sri Lankan economy was off to a robust recovery after years of stagnation before being struck by the China ori
Bangladesh’s two bourses — Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) —have extended the ongoing closure till May 30 after the government extended its shutdown of offices to stem the spread of COVID-19, local media reports s
The recently released 2019 Central Bank annual report reveals that repatriation of profit by foreign-owned firms or foreign direct investment (FDI)-backed firms in Sri Lanka continue to increase. Profit repatriation (or dividend outflows) in 2019 has
The economic downturn caused by COVID-19 is the greatest economic calamity since the Great Depression and is disrupting the construction, operation and maintenance of infrastructure services globally. Throughout Asia and the Pacific, this could cause
On the one hand, when the coronavirus is proving itself as a nightmare to the whole world, on the other, it stood as a stroke of luck for Indonesia.
Taiwan Semiconductor Manufacturing Co Ltd, the biggest contract chipmaker, said it plans to build a US$ 12 billion factory in Arizona in an apparent win for the Trump administration’s efforts to wrestle global tech supply chains back from China.
Asian stocks edged up yesterday but were on course to end the week lower as deteriorating U.S.-China relations add to uncertainties over how fast economies can recover as they start to emerge from lockdowns.
With the emergence of COVID-19 in Sri Lanka, the country has seen far reaching social and economic consequences affecting the livelihoods of many individuals. Every country needs to act immediately to prepare, respond, and recover; and innovative min
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