Business Times

Home » Business Times

Wholesale markets

Wholesale markets

                  A worker gathers a stock of onions at a wholesale market in Pettah. There was panic buying of essential food on Friday after the government announced a weekend curfew Pic by M.A. Pushpa Kumara  

SL’s Rs.5 bln contingency for COVID-19

Sri Lanka is now maintaining a Rs.5 billion financial backup to meet basic costs in dealing with any eventuality arising from the new coronavirus, official sources said, adding that more funds would be made available as and when the need arose. President Gotabaya Rajapaksa has used his constitutional power in sanctioning the Treasury to allocate [...]

Sri Lanka hotels likely to close

Some Sri Lanka’s hotels are likely to close by the end of the month or until tourists leave the country while some others opt to remain open. “We are currently staying open and we and most others too are open till the end of the month, (after that) we might be shutting down, a decision [...]

Telco operators provide better data packages to help work from home

In a bid to help companies and workers prepare for remote working amidst the COVID-19 pandemic, the Telecommunication Regulatory Authority (TRC) has got operators to provide subsidised/no charge data packages, TRC officials said. “Many people are working from home. As such we got the operators to introduce special packages to double up data.  Now there [...]

New fuel import tax to reduce Covid-19 economic risk

The Finance Ministry will soon impose a fuel import tax while maintaining the current petroleum prices so that the profit margin can be acquired by the Government when importing crude oil. This decision has been taken by considering the risk prevailing in the Sri Lankan economy due to the global economic slowdown as a result [...]

Tourists face “corona” calls as arrivals drop

Sri Lanka saw a significant 46 per cent drop in tourist arrivals this month so far compared to last year as the airport and seaport closed to incoming passengers on Thursday by authorities in a bid to contain the outbreak of the coronavirus pandemic in the country. Tourism authorities indicated there were 70,754 tourists arriving [...]

Twin battle and beyond

Twin battle and beyond

Gonny van den Bos and her husband, Jacque van den Bos, are our family friends from Holland. Gonny had sent us a mail a few days ago. This is part of what she wrote: “Now in Holland it’s all about coronavirus. Schools are closed. All bars, restaurants etc are closed. It is very strange. People [...]

World stops travelling

World stops travelling

Just like the song ‘Do Re Mi’ in the famous movie ‘Sound of Music’, let’s start at the very beginning (of the new coronavirus pandemic)… a very good place to start. Though that song has an ending, in the case of COVID-19, no one clearly knows when this would end, except that the disease may [...]

Central Bank cuts interest rates in support of COVID-19 prevention

The Central Bank on Monday, which was declared a holiday across all sectors, cut interest rates by 25 basis points as an immediate measure to enhance economic and prevent the rapid spread of COVID-19. The move became effective from Tuesday, March 17. In a public statement, the Monetary Board of the Central Bank of Sri [...]

INSEE Cement’s innovation culture

INSEE Cement Sri Lanka, a leading provider of cement in the country, has completed several groundbreaking initiatives recently showcasing innovative solutions, accelerating advances and fostering a leap forward in the country’s construction industry. Constantly working to set the standards for the industry of tomorrow, INSEE Cement ensures being innovation-centric is part of its DNA, the [...]

Hemas sells stakes in travel and aviation sectors

Hemas Group, in line with its portfolio strategy of focusing on growing its core sectors of consumer, healthcare and mobility, has embarked on a restructuring of its stakes in the travel and aviation sectors. As a result, the group has reduced its shareholding in inbound and outbound travel and selected aviation representation businesses with the [...]

World Bank Group increases COVID-19 response to $14 bn

WASHINGTON — The World Bank and IFC’s Boards of Directors on Tuesday approved an increased US$14 billion package of fast-track financing to assist companies and countries in their efforts to prevent, detect and respond to the rapid spread of COVID-19. The package will strengthen national systems for public health preparedness, including for disease containment, diagnosis, [...]

Air cargo essential to fight against COVID-19

Geneva – The International Air Transport Association (IATA) and its members continue to support governments in their efforts to contain the spread of COVID-19. Since the crisis began, air cargo has been a vital partner in delivering much-needed medicines, medical equipment (including spare parts/repair components), and in keeping global supply chains functioning for the most [...]

Rethinking trade liberalisation in the age of the virus

Rethinking trade liberalisation in the age of the virus

Tourist attractions like the Pinnawela Elephant Orphanage have been closed to prevent the spread of the virus. With the coronovirus reaching pandemic levels globally, and with Sri Lanka also reporting several cases, the immediate concern for all nations is to ensure that its citizens are kept safe. To this end, many countries including Sri Lanka [...]

Lanka’s chambers step in to support government moves

Sri Lanka’s main chambers of commerce and industries on Thursday urged the government to immediately shut the airport and seaport, continue the containment strategy, suspend all non-essential services, create a central source of information, consider short term working capital loans for worst affected sectors like tourism and construction, seek World Bank and IMF support and [...]

Arpico Insurance steps in to help fight COVID-19

Arpico Insurance PLC, a fully owned subsidiary of one of Sri Lanka’s largest blue-chip conglomerate Richard Pieris & Company PLC, very recently announced that it will take care of all medical and life claims relating to the life-threatening upper respiratory disease. Despite the disease being a global pandemic with insurance providers conventionally not covering medical expenses [...]

Fb to ensure accurate information on COVID-19

As global and national health authorities are working to respond to the coronavirus, Facebook (Fb) is also working to connect people with information from Sri Lanka’s health organisations and to limit the spread of misinformation and harmful content about the virus. To help people in Sri Lanka to get accurate information about COVID-19, anyone who [...]

Eastern medicine in demand

Eastern medicine in demand

Consumers gather outside a shop selling herbal medicine which is believed to increase immunity against any virus. Pic by M.A. Pushpa Kumara  

Softlogic Life supports policyholders against COVID-19

Insurer Softlogic Life will pay all medical and life claims that relate to COVID 19, despite it being classified a pandemic. “Softlogic Life considers that the health, well-being, and safety of their policyholders and their families are of paramount importance. This has never been truer than today, with COVID-19 impacting every Sri Lankan. COVID-19 is [...]

AIA Insurance’s free additional COVID-19 cover for all customers

AIA Insurance (Sri Lanka) announced on Monday that all existing and future customers will automatically benefit from free additional coverage for the new coronavirus or COVID-19. This is part of AIA’s proactive efforts to protect Sri Lankans from the ongoing threat posed by the virus that has caused much concern to the community. AIA will [...]

Advertising Rates

Please contact the advertising office on 011 - 2479521 for the advertising rates.