Emirates, Etihad to resume transit flights, Qatar Airways adds more

DUBAI (Reuters):  Emirates and Etihad Airways will resume some transit flights after the United Arab Emirates (UAE) lifted a suspension on services where passengers stop off in the country to change planes, or for refuelling.

Dubai’s Emirates, one of the world’s biggest long-haul airlines, said on Thursday it would operate transit flights to 29 destinations in Asia, Europe and North America by June 15.

Standard Chartered Sri Lanka supports MAS Intimates’ combat against COVID-19

Standard Chartered announced today that MAS Intimates (Pvt) Ltd., a division of MAS Holdings, has become the first company in South Asia to complete a drawdown under the Bank’s USD1 billion COVID-19 financing commitment.

US$361mn outflow from government securities in first 3 months, CSE cumulative outflow US$28mn

A net outflow of the foreign investment amounting to US $ 261 million was recorded from the rupee denominated government securities market in March 2020, resulting in a cumulative net outflow of US $ 361 million during the first three months of 2020, the Central Bank said.

Sri Lanka’s tourism earnings, workers’ remittances decline in March

Sri Lanka’s tourism industry was severely affected from March 2020 by the COVID-19 pandemic. With the termination of all passenger flights and ships to Sri Lanka, there was a cessation of tourist arrivals from the third week of March 2020, resulting in a substantial decline in tourist arrivals by 70.8% to 71,370 from 244,328 in March 2019, the Central Bank said on Monday (01).

China Merchants Port develops intelligent port

China’s port operator China Merchants Port, Alibaba and financial service provider Ant Group have signed a strategic cooperation frame agreement to jointly promote port + internet platform.

President seeks unconditional financial support from global creditors

President Gotabaya Rajapaksa yesterday (28) called for unconditional support from bilateral and multilateral official lenders for developing countries.

COVID-19 and the Sri Lankan Stock Market: Looking Ahead with Confidence

The Colombo Stock Exchange resumed stock market operations on 11 May 2020, following an extended closure as a result of the COVID-19 pandemic. In this interview, Mr. Ray Abeywardena, the Chairman of CSE comprehensively discusses the efforts of the CSE amidst the COVID-19 pandemic and offers an outlook on the way forward for the Exchange and the market.

Thai government reduces stake in Thai Airways

The Thai government is no longer a majority shareholder in Thai Airways after the country’s finance ministry reduced its stake to 47.86% from 51.03%.

Proposal to reopen airports for tourists from 1st August

The Task Force Committee entrusted with COVID – 19 control proposed to President to reopen airports for foreign tourists from 1st August as the country is gradually returning to normalcy.

USD 75 mn Cement factory to Hambantota

A new local cement manufacturer is ready to enter the market with 2.3 million tons capacity plant being built with a USD 75 million investment in the South.

This will bring the total local cement manufacturers capacity up to 9.6 milion tons per annum.