Sri Lanka’s leading private sector bank, HNB PLC announced a renewed partnership with domestic automotive giants, Indra Traders, to offer exciting leasing packages for all unregistered vehicles and Foton trucks.
The agreement was finalised at Indra Traders Head office Colombo in the presence of HNB’s Deputy General Manager Retail Banking & SME Sanjay Wijemanne, Head of Personal Financial Services Kanchana Karunagama and Senior Manager Leasing Niluka Amarasinghe along with Indra Trader’s Director Sales and Marketing Hashindra Silva, General Manager Sajini Silva, Senior Marketing Manager Rasika De Silva, Marketing Manager Tuan Ossen and Marketing Manager Saleela Rajapaksha.
“Despite a sharp 27.2% YoY reduction in vehicle registrations of the past year, demand for vehicles capable of supporting commercial and industrial activity remains quite strong despite these challenging market conditions. For generations,
WASHINGTON, April 12, 2020 – Amid the mounting human toll and global economic fallout triggered by the COVID-19 pandemic, South Asian governments must ramp up action to curb the health emergency, protect their people, especially the poorest and most vulnerable, and set the stage now for fast economic recovery, says the World Bank in its twice-a-year-regional update.
Released today, the latest South Asia Economic Focus anticipates a sharp economic slump in each of the region’s eight countries, caused by halting economic activity, collapsing trade, and greater stress in the financial and banking sectors.
In this fast-changing and uncertain context, the report presents a range forecast, estimating that regional growth will fall to a range between 1.8 and 2.8 percent in 2020, down from 6.3 percent projected six months ago. That would be the region’s worst performance in the last 40 years, with temporary contractions in all South Asian countries. In case of prolonged and broad national lockdowns, the report warns of a worst-case scenario in which the entire region would experience a negative growth rate this year.
This deteriorated forecast will linger in 2021, with growth projected to hover between 3.1 and 4.0 percent, down from the previous 6.7 percent estimate.