Fitch Ratings has downgraded Sri Lanka-based cable manufacturer Sierra Cables PLC’s National Long-Term Rating amidst expected sharp revenue declines and tight liquidity conditions due to COVID-19 impacts.

Southeast Asian stock markets were pummelled yesterday, after a historic plunge in U.S. crude futures to below zero highlighted the damage wreaked by the coronavirus pandemic.

Sri Lanka has been under curfew since mid-March to contain the spread of COVID-19. As a result, economic activities throughout the country have stalled. A recent Institute of Policy Studies (IPS) blog identified that non-agricultural, informal worker

Now is the time to ramp up actions on resilience so that society can beat the COVID-19 crisis while reducing the impact of climate threats.

Over 50,000 Sri Lankan migrant workers stranded mainly in the Gulf countries are anxiously awaiting to return to the country amid health risks, job losses and pay cuts caused by the coronavirus (COVID-19) pandemic, according to the latest reports.

Sri Lanka’s agricultural sector is least affected by the economic shock triggered by the new coronavirus as the sector is loosely integrated with the global supply chains,

Crude oil futures fell yesterday, with the U.S. futures touching levels not seen since 1999, extending weakness on the back of sliding demand and concerns that the U.S. storage facilities will soon fill to the brim amid the coronavirus pandemic.

Less than a week after Sri Lanka’s sovereign rating was placed under review for possible downgrade, due to the economic shock of COVID-19, Moody’s Investors Service yesterday placed Bank of Ceylon (BOC), Hatton National Bank (HNB) and Sampath Ban

The Central Bank of Sri Lanka (CBSL) yesterday clarified its position on the remittance of funds to Sri Lankans living abroad during the ongoing global crisis and stressed the locals would be able to do so within the set regulatory framework.

The Colombo Stock Exchange (CSE) yesterday said it would not recommence trading on April 22.

Sri Lanka’s listed firms are now required to disclose the impact of the COVID-19 pandemic on the business/operations as well as the response to the impact and anticipated impact on the future operations and financial condition, to the Colombo Stock

The country’s condominium developers have requested permission to return to work and resume their construction projects, which are stalled due to the lockdowns, as soon as practically possible and expect relief from the government.

Ceylinco Life donated two high-end non-invasive ventilators to the government to support efforts to treat people infected by COVID-19.

In an effort to support medical professionals and essential medical services during the ongoing COVID-19 crisis, Dialog Axiata PLC extended free critical connectivity solutions for video conferencing facilities and Internet access to support the medi

CIPM made a donation of Rs. 1 million to President’s National Covid-19 Relief Fund in support and solidarity of the relief measures that need to be rolled out to successfully manage and overcome the current situation brought about by the global pan

Pelwatte, the leading local dairy manufacturer, has initiated several CSR and consumer reach projects that conjuncts the company as a strong stakeholder in the Sri Lankan government’s initiative to sustain the COVID-19 crisis.

The current ongoing COVID-19 pandemic has brought tourism and leisure travel to its knees. With extended curfews and strict restrictions of movement, almost all establishments have been shut.

The purpose of this article is to suggest how Sri Lanka can benefit from the obvious need for social support in the context of ‘COVID-19’.

The economic and labour crisis created by the COVID-19 pandemic has increased global unemployment by almost 25 million, according to a new assessment by the International Labour Organization (ILO).

The Ceylon Chamber of Commerce (CCC) has called for a broad economic recovery plan based on a shared vision of public and private sectors aimed at an accelerated post-COVID-19 recovery of the country’s economy.

The Export Development Board (EDB) yesterday renewed its call to the government and the business community to give utmost prominence to local exports and stressed it is imperative to recognize the sector as the nation’s top priority as the country

The research team of Asia Securities has forecast that the COVID-19 pandemic’s toll on Sri Lanka’s economy to be dour through 2020 with many of its macroeconomic forecasts pointing to some daunting numbers.

The International Monetary Fund said its executive board had approved US$ 1.386 billion in emergency financing to Pakistan to meet balance of payments needed stemming from the novel coronavirus pandemic.

The Colombo Stock Exchange (CSE) has published a ‘Guidance Note’ for listed entities on possible list of alternatives for hosting their Annual General Meetings (AGMs) in light of the COVID-19 pandemic, responding to concerns that holding physical

The EU plans to help block foreign takeovers of European companies struggling with the virus downturn. It wants to allow governments to invest in weak companies, which could include some form of ownership.

The emirate of Abu Dhabi said yesterday it had sold US$ 7 billion of bonds in the third major sale this month by Gulf sovereigns seeking to counter slumping oil prices. OPEC kingpin Saudi Arabia last week raised US$ 7 billion in a bond sale, while ga

Electronics retail giant Fnac Darty announced yesterday it had secured a 500 million euro loan guaranteed by the French state “to secure cash flow” and prepare for recovery after the coronavirus crisis.

Forbes Magazine appoints Talal Rafi as a member of the Forbes Business Council.

Unilever Sri Lanka has committed a sum of Rs.35 million towards the national efforts to tackle the coronavirus (COVID-19) pandemic in Sri Lanka.

To ensure that Sri Lankans across the country stay connected during these unprecedented times and to further assist the customers who are unable to pay and use their mobile connection during the curfew period, Dialog Axiata PLC, Sri Lanka’s premier