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A minimum 5-night stay in Sri Lanka will be required for tourists from August, Sri Lanka Tourism said yesterday.

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Sri Lanka’s construction sector is expected to demonstrate resilience compared to other economic sectors largely due to the existence of sufficient projects, reasonably priced raw materials and funding, a report by ICRA Lanka said yesterday, but warned profitability will moderate due to lockdown and new projects will be less in the medium term.

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In a move to assist businesses hit by the COVID-19 pandemic, the present administration announced a Rs. 100 billion grant in addition to the Rs. 50 billion refinancing facility of the Central Bank through banks as urgent working capital support.

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The Central Bank yesterday said it would begin payments to depositors of The Finance Company from Sunday and has appointed the People’s Bank as the agent bank to carry out the compensation process.

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The Government yesterday appealed to the public to be cautious when investing in non-Bank financial institutions and not be enticed by higher interest rates to deposit their hard-earned savings in unsound companies.

Thursday, 04 June 2020 08:56

CSE turns negative

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The Colombo stock market turned negative yesterday with both indices down though turnover was a healthy Rs. 1.3 billion.

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Standard Chartered announced yesterday that MAS Intimates Ltd., a division of MAS Holdings, became the first company in South Asia to complete a drawdown under the bank’s $ 1 billion COVID-19 financing commitment.

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Ookla, the global leader in Internet testing and analysis, has declared Mobitel as the Winner of the Speedtest Award for 2019, successfully winning the award for all four quarters consecutively as the Fastest Mobile Network in Sri Lanka.

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Trico Logistics Ltd (TLL), partnering with Strategic Insurance Brokers (SIB), has announced the launch of a Marine Risk Insurance portal (www.tricologi.net) for all TLL customers who hail from a wide-ranging international client base.

Wednesday, 03 June 2020 08:28

CSE to trade on Thursday despite curfew

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The Colombo Stock Exchange (CSE) will trade on Thursday 4 June despite countrywide curfew on account of Poson holidays and COVID-19 mitigation measures.

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