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Last Updated = Mon, Sep 28, 2020, 12:26 pm SL Time

* ICRA Lanka reaffirms the ratings of Hayleys PLC; Revises the Outlook from Stable to Negative

Sept 28 (CP) Colombo- ICRA Lanka Limited has reaffirmed the issuer rating of Hayleys PLC at [SL]A+ while revising the outlook from Stable to Negative. ICRA Lanka has also reaffirmed the issue rating of [SL]A+ assigned to the Company’s two-Senior Unsecured Listed Redeemable Debenture programs
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* TikTok: US judge halts app store ban

Sept 28 (BBC) TikTok has avoided a government-ordered block on new downloads in the US after a judge issued a temporary injunction. Existing US-based users would have been able to have continued using it.
[Full Story]

* Spark Air to take wings early February

Sept 28 (DN) Creating aviation history in Sri Lanka a consortium of local and foreign investors would be launching what would be the country’s first comprehensive airline owned by the private sector. It will be named Spark Air.
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* Ten bankrupt state entities face liquidation

Sept 27 (ST) As the Treasury plans to curtail public expenditure in the 2021 budget, plans are underway to liquidate at least 10 bankrupt state institutions including Mihin Lanka while protecting the interest of their employees who are to be offered compensation, official sources divulged.
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* Sri Lanka Tea production, exports decline in August 2020

Sept 27 (CP) Colombo- Sri Lanka Tea production totaled 22.4 million kgs in August 2020 recording a decrease of 3.7 million kgs compared to 26.2 million kgs of August 2019, Tea Exporters Association report said.
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* Sri Lanka Tourism reaches out to Sri Lankan Missions Overseas

Sri Lanka’s new envoy to China assures fullest support in Tourism Promotion

Sept 26 (CP) Colombo- Sri Lanka Tourism is working with the Sri Lankan Missions Overseas, through collaborations, with the intension of coordinated and targeted tourism promotions in the new normal.
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* Pelwatte Dairy backs President’s pledge to meet domestic liquid milk demand

Sept 26 (Island) Pelwatte Dairy Industries,is on a renewed mission to meet the domestic milk demand and uplift the socio-economic status of local dairy farmers.
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* Wickramarachchi Hearing Care to diversify to medical tourism

Sept 26 (DN) Opening up new vistas in the Sri Lankan Tourism sector Wickramarachchi Hearing Care will be introducing Sri Lanka, as the best destination for hearing care implants in Asia. Founder and Managing Director, Wickramarachchi Opticians and Hearing Care Mihira Wickramarachchi said that they had planned to launch this initiative in March
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* Ceylon Chamber holds Sri Lanka Economic Summit 2020 on December 1-2

Sept 28 (CP) Colombo- The Ceylon Chamber of Commerce will be organizing the 20th Sri Lanka Economic Summit (SLES) on December 1 and 2, 2020 at the Shangri-La Hotel, Colombo. This will be the 20th consecutive year the Chamber is organizing the country’s foremost economic event.
[Full Story]

* Private sector credit rebounds in August

Sept 28 (DM) Private sector credit made a strong rebound in August as banks ramped up disbursements of credit to private borrowers, from large to small businesses and individuals as economy gathered pace after the coronavirus put a dampener on credit growth during the first half of the year.
[Full Story]

* Sri Lanka seeks fresh currency swap facility, deferment of debt payments from India

Sept 27 (Reuters) Sri Lankan Prime Minister Mahinda Rajapaksa sought an additional currency swap facility and deferment of debt payments from India during an online bilateral summit with Prime Minister Narendra Modi on Saturday, Indian officials said.
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* USD 2b FDIs to be inked this year - Cabraal

Sept 27 (SO) Sri Lanka will sign Foreign Direct Investments (FDIs) to the tune of around USD 2 billion by the end of this year ending the year, said Money, Capital Markets and State Enterprise Reforms State Minister Ajith Nivard Cabraal on Friday.
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* Hànyǔ Services launches to address growing interest in Chinese language services

Sept 27 (CP) Colombo- In a global climate where China has established its standing as the second largest and fastest growing economy in the world, the extent of the country’s scale and integration has meant that proficiency in Chinese has become a coveted asset.
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* ComBank launches ‘Cash on FD’ facility via linked Credit or Debit Cards

Sept 26 (CP) Colombo- The Commercial Bank of Ceylon has introduced a ‘Cash on Fixed Deposits’ (FDs) facility which enables depositors to withdraw against their FD value through an exclusive Debit or Credit Card linked to their accounts.
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* Pathfinder webinar on Sri Lanka’s foreign policy on Monday

Sept 26 (DM) The Pathfinder Foundation (PF), Institute of South Asian Studies (ISAS) and National University of Singapore (NUS) have scheduled a webinar on Monday (28th) at 3.30 p.m. - 4.45 p.m. on Sri Lanka’s foreign policy imperatives under the Rajapaksa administration.
[Full Story]

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