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Beating the virus!

Beating the virus!

A vegetables and fruits vendor outside an apartment complex in Dehiwela. COVID-19 conscious residents of this complex, from their upper floor balconies, shouted out their orders to the vendor who thereafter sent up the stuff through the security guards with payment being made the same way.     Pic by M.A. Pushpa Kumara  

Unemployment benefits for COVID-19 job losses

The Government is seriously considering a proposal to provide financial unemployment benefits to scores of Sri Lankans who have lost their jobs owing to the COVID-19 pandemic and those who are at risk of losing their jobs. If approved, the proposal will be implemented in the forthcoming 2021 budget to be presented in Parliament in [...]

Hotels hurled a double whammy

Hoteliers are facing a further blow to their earnings since the latest outbreak of COVID-19 as the only guests that patronized them, the Sri Lankans, are now steering clear of holiday travel. With the outbreak of the coronavirus in Minuwangoda, the government had placed a number of clampdowns on social gatherings and restricting numbers that [...]

Foreigners get forex risk cover in investing in securities

Foreign investment in Sri Lanka’s rupee-denominated securities market is to be made more attractive by offering forex risk cover, tax relief and other incentives by the Finance Ministry and the Central Bank, a senior official of the State Ministry of Finance disclosed. The government has identified the need to facilitate non-resident investors’ investments in government [...]

Ceylon Tea exports face curbs in lockdown tea hub

While the tea hub of Sri Lanka located in the Gampaha district that is currently facing a lockdown, is operating amidst constraints, the supply chain is expected to continue smoothly. The coronavirus outbreak in Gampaha has led to a complete lockdown of the district since last Wednesday night. Sri Lanka’s main tea warehouses of brokers [...]

Government faces new spending pressure amidst COVID-19

In the wake of a possible second wave of COVID-19, fresh financial support for public health services, households and businesses will add new spending pressures for the government amid lower revenue collection in 2020. This will increase the fiscal deficit, amidst the already high public debt and external refinancing needs, Finance Ministry sources revealed. The [...]

Supporting your local resort

Supporting your local resort

A resort outside Colombo which had high occupancy during the weekends from local clientele, was empty last weekend. Hotels and resorts outside Colombo are facing cancellations for weekend stays, one reason why these institutions are barely managing to keep their head above water while debts and bank loans pile up. All the hopes of a [...]

Sri Lankans, are you happy?

Sri Lankans, are you happy?

Sri Lankans are said to often have a smile on their faces, probably by default. But, does it mean that they are happy? Even if Sri Lankans are not rich enough as a nation, someone could argue that “money is not happiness”. Of course, even without money someone can be happy too. Nevertheless, lack of [...]

Key vehicle importers enter buying and selling of cars for survival

Sri Lanka’s main motor traders including several franchise car dealers have been forced to enter the second-hand vehicle market which is being fully activated following the vehicle import ban, importers disclosed. Six months after the imposition of the vehicle import prohibition regulation, many international branded vehicle franchise dealers have sold out all imported vehicles, they [...]

ezBiz to help small business in partnership with NDB Bank

ezBiz to help small business in  partnership with NDB Bank

The National Development Bank PLC and ThinkCube Solutions (Pvt) Ltd this week signed a partnership agreement to promote the breakthrough Cloud-based Business Application ezBiz to NDB’s Micro, Small and Medium Enterprise (MSME) customers. As a key endeavour within the “Jayagamu Sri Lanka” initiative NDB hopes to increase the business robustness of the MSME sector of [...]

Potential exports of vintage cars

Potential exports of vintage cars

The government has decided to allow the export of vintage cars and classic motorcycles as there is a lucrative market overseas and since some local owners appear keen to make use of this opportunity, motor industry sources said. The recent statement by State Minister of Transport Services Dilum Amunugama on allowing vintage and classic cars [...]

LOLC expands into Zambia

LOLC expands into Zambia

The LOLC Group recently commenced its operations in Zambia with the official launch of its inaugural branch located in Lusaka. The company which will operate as LOLC Finance Zambia Ltd, is a deposit-taking non-banking financial institution and will provide finance products such as home loans, motor vehicle finance, business loans, and consumer loans, among other [...]

Good Life X nurtures second Accelerator group supporting sustainable start-ups

Inspired by the success of last year’s inaugural cohort, the GoodLife X (GLX) Accelerator programme’s, second set of innovative companies graduated recently after successfully completing their intensive and immersive three-month training. The second group which kicked off in July comprised 10 start-ups in the Food, Travel, Wellness and Design sectors, firmly demonstrating the intent of [...]

Ceylinco Life launches milestone 20th ‘Pranama’ Scholarships Programme

Ceylinco Life has announced it will award more than Rs. 11 million to another 160 brilliant young minds with the launch of the 20th edition of the company’s ‘Pranama’ Scholarships programme which will culminate in May 2021. The collection of applications from students’ eligible under four categories is now open and will continue until January [...]

Explore Sri Lanka with Hilton’s South East Asia ‘Dream Away’ offer

Hilton has launched its new “South East Asia Dream Away” offer to reward Hilton’s most loyal customers, its Hilton Honors members. Running from October 13 – 31, 2020, the Dream Away sale offers Hilton Honors members great value with up to 30 per cent off on stay and F&B at participating hotels within the Hilton [...]

Women-owned businesses more likely to borrow from family and friends to deal with COVID-19 impact: IFC

Eight out of 10 small and medium businesses (SMEs) in Sri Lanka struggled to continue operations and meet financial obligations due to the impact of the COVID-19 pandemic, according to a new report released by the IFC. The report, Gendered Impacts of COVID-19 on Small and Medium-Sized Enterprises, by Women in Work, a partnership between [...]

CSE approves Softlogic Finance Rs 1.9 bn Rights Issue

Softlogic Finance PLC has received Colombo Stock Exchange (CSE) approval for its Rights Issue of Rs. 1.9 billion with the Extraordinary General Meeting of the company fixed for November 9 while the funds are expected to be received by the company by end November. The Rights Issue is fully underwritten by its immediate parent Softlogic [...]

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