Business

CBSL extends suspension of Business of Perpetual Treasuries Limited

The Monetary Board of the Central Bank of Sri Lanka has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the business and activities of a Primary Dealer for a further period of six months with effect from 4.30 p.m. on 05th January 2021.

Top business leaders meet Indian External Affairs Minister

Indian External Affairs Minister, Dr. S. Jaishankar during his visit here this week interacted with a group of Sri Lankan business and industry personnel that represented prominent business conglomerates and manufacturing entities in the country.

U.S launches project to support small businesses&increase women’s participation in labour force

The United States launched a new LKR 3.6 billion (USD 19.5 million) initiative to help small businesses and economically empower Sri Lankan women.

Govt. says Fitch Ratings downgrade based on Uncorroborated Facts sans due Consideration Given to Recent Economic & Policy Developments

"We do not accept this downgrade as it fails to recognize the robust policy framework of the new Government for addressing the legacy issues, including the concerns raised by Fitch Ratings, & ensuring ongoing economic recovery and macroeconomic stability of the country," the Govt. said.

Fitch Downgrades Sri Lanka to 'CCC'

The downgrade reflects Sri Lanka's increasingly challenging external-debt repayment position over the medium term. In particular, a sharp rise in the sovereign debt to GDP ratio associated with the coronavirus shock and narrowing financing options have heightened debt sustainability risks.

Govt. enters into loan & grant agreements with ADB to provide credit line to SMEs

The Government has entered into loan and grant agreements with ADB to obtain a loan of $ 165 million and grants worth of $ 3 million from the Japan Fund for Poverty Reduction (JFPR).

Health Ministry & Dialog Axiata enable Hi-Speed Robotic PCR Testing at BIA

MOH in partnership with Dialog Axiata PLC (Dialog), has enabled high-speed PCR testing at the BIA. Dialog’s contribution of 4000 Robotic Arm compatible test kits forms a part of the company’s ongoing commitment to empower the national health care efforts during the COVID-19 pandemic.