Category: Business and Economy

When Hatch opened in 2018, it quickly became a hub for innovators. It enriched the entrepreneurial spirit within its walls by offering generously curated regular programmes of mentoring sessions, learning workshops and events. In April 2020, Hatch in partnership with Lankan Angel Network (LAN) and through the support of the Ford Foundation, will officially launch…

The Monetary Board of the Central Bank of Sri Lanka, on 03 April 2020, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 25 basis points to 6.00 per cent and 7.00 per cent, respectively, effective from the close of business on 03…

In a significant announcement made today, Hutch has started offering its subscribers 100% Anytime Data packages without any night time quotas. Customers will no longer have to wait till midnight to access their night time quotas and be worried of running out of quotas to use during the day time. With Hutch Anytime data revolution,…

The Government will ban or limit all non-essential imports into the country except medicine and fuel as it pushes ahead with an ambitious program to become self-sufficient in agricultural produce and encourage local industry, Co-Cabinet Spokesman Minister Ramesh Pathirana said yesterday. This is in keeping with a decision taken by Cabinet on Wednesday. “We want to…

The Sri Lankan Rupee has further depreciated against the US Dollar, with the speculative behaviour in the market with the spread of COVID-19 outbreak. According to the Central Bank of Sri Lanka (CBSL) the current selling rate of the US Dollar today (30) stands at Rs. 193.75 and buying rate of the US dollar stands…

WASHINGTON, — The World Bank’s Board of Executive Directors Thursday (02) approved the $128.6 million Sri Lanka COVID-19 Emergency Response and Health Systems Preparedness Project to help the country prevent, detect, and respond to the COVID-19 pandemic and strengthen its public health preparedness. The new fast track package will benefit the entire Sri Lankan population…

Sri Lanka’s inflation, as measured by the change in the Colombo Consumers’ Price Index (CCPI), declined to 5.4% in March 2020 from 6.2% in February 2020, the Central Bank reported. This was due to the decline in the prices of items in the Food category. Accordingly, Food inflation (Y-o-Y) declined to 12.8% in March 2020…

The coronavirus pandemic is the worst global crisis since World War II, UN Secretary-General Antonio Guterres said Tuesday, expressing concern that it could trigger conflicts around the world. Guterres said that the scale of the crisis was due to “a disease that represents a threat to everybody in the world and… an economic impact that…

Huawei announces solid business performance and commitment to creating greater value for customers and society Huawei released its 2019 Annual Report today, detailing a solid business performance. The company’s global sales revenue in 2019 rounded off at US $ 123 billion (CNY 858.8 billion), up 19.1% year-on-year; its net profit reached US$ 9 billion (CNY…

HUAWEI, the innovative smartphone manufacturer recently launched HUAWEI P40 Pro+, HUAWEI P40 Pro and HUAWEI P40 globally. HUAWEI’s long-standing customer base in Sri Lanka is eagerly waiting for the new HUAWEI P40 Series flagship smartphones featuring cutting-edge designs with ground-breaking camera innovations that radically expand mobile photography and video capture possibilities. Available in three glossy…