Colombo stock market hit by Middle East tensions

Banks directed to suspend recovery of SME loans

President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa who is also the Minister of Finance, Economy and Policy Development, have issued directives to Chairmen and CEOs of all banks to suspend the recovery of loans obtained by the SME sector. The Government has taken a decision to take up new initiatives to revive SMEs of which outstanding debt is not exceeding Rs 300 million in each entity since the recently announced tax reform initiatives provide substantial savings to all banks in

20 Dec, 2019

Trade in Asia-Pacific declines for the first time since 2009

Asia-Pacific economies may see positive trade growth in 2020 but are still facing downside risks from the adverse impacts of the United States ? China trade tensions, two new trade briefs by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) released today have revealed. Trade in the Asia-Pacific region contracted during 2019. For the first time since the 2009 global economic crisis, the value and volume of trade in the region is declining. Total export volume fe

18 Dec, 2019

Sri Lanka urges Singapore investors to make full use of opportunities

Sri Lanka has urged investors in Singapore to make full use of the opportunities present as Sri Lanka embarks on an era that promises stability, continuity and inclusive growth. The Sri Lanka High Commission in Singapore was invited to the Singapore Exchanges? symbolic securities market open ceremony on 27 November 2019 as part of its 20th?Anniversary Celebrations this year. High Commissioner Sashikala Premawardhane was joined by CEO of Singapore Exchange (SGX) Loh Boon Chye to mark the start

29 Nov, 2019