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Grace period to pay electricity bills; guidelines to calculate bills on pro-rata basis
May 14, 2020 (LBO) – The Public Utilities Commission (PUCSL), Ceylon Electricity Board (CEB) and Lanka Electricity Company (LECO) have taken steps to ensure fairness for electricity consumers in issuing monthly electricity bills and allowing a grace period to pay the monthly bills. The guidelines prepared by the PUCSL set forth in this regard will […]
Commercial Bank operating profit down by 4.6-pct, PAT up due to concessions
May 14, 2020 (LBO) – Operating profit before taxes on financial services of Sri Lanka’s Commercial Bank for the first quarter declined by 4.6%, interim accounts showed. The bank posted a profit before income tax of Rs 5.229 billion for the three months, an increase of 9.51% as the taxes on financial services has been […]
Central Bank cuts minimum requirement of Liquidity Coverage Ratio to 90-pct
May 13, 2020 (LBO) – Sri Lanka’s Central Bank has decided to reduce the minimum requirement of Liquidity Coverage Ratio and Net Stable Funding Ratio to 90 percent with enhanced supervision and frequent reporting. The Central Bank has also decided to permit licensed banks to consider certain assets as liquid assets in the computation of […]
Central Bank places restrictions on discretionary payments of banks
May 13, 2020 (LBO) – Sri Lanka’s Central Bank has issued directions to licensed banks restricting their discretionary payments with the aim of maintaining appropriate levels of liquidity in licensed banks while managing cash flows prudently. The Monetary Board has considered the possible adverse impact on liquidity and other key performance indicators of licensed commercial […]
President reviews current status of proposed unique Digital ID for Sri Lankans
May 13, 2020 (LBO) – President Gotabaya Rajapaksa reviewed the current status of the proposed “unique digital identity card”, which will be issued by obtaining biodata of all citizens only once in the lifetime. Individual biodata could be viewed physically as well as through the internet. The new identity card which contains the most accurate […]
Sampath Bank operating profit down by 10.8-pct, PAT up due to concessions
May 13, 2020 (LBO) – Operating profit of Sri Lanka’s Sampath Bank for the first quarter, which is the real return generated by utilizing the assets and liabilities, declined by 10.8%, interim accounts showed. The challenges brought by COVID – 19 and the recession brought on by the terrorist attack in April 2019 has lead […]
Ceylon Chamber of Commerce establishes a Center for SMEs
May 13, 2020 (LBO) – The Ceylon Chamber of Commerce has established a Center for SMEs to play a more active role in building a dynamic SME sector in Sri Lanka. The Chamber has been offering a range of services to SMEs through different departments within the Chamber as well as through a large number […]
SriLankan Airlines offers passage for travelers supporting lockdown ease
May 12, 2020 (LBO) – Taking into consideration the reopening of economic activity in the world followed by easing of some travel restrictions between countries, SriLankan Airlines is now offering services to passengers who are eligible to travel under the respective country travel advisories to London, Tokyo (Narita) Melbourne and Hongkong and beyond. Accordingly, passengers who […]
Dialog & Huawei donate telepresence infrastructure and connectivity to Health Min
Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, and Huawei Technologies Lanka Co., (Pvt) Ltd, donated Telepresence and connectivity solutions to 30 hospitals covering district general hospitals, teaching hospitals and the designated COVID-19 treatment centres that operate under the aegis of Ministry of Health and Indigenous Medical Services (MOH). The fully-fledged Telepresence platform is set […]
Sri Lanka delisted by European Commission from list of high risk 3rd countries
May 12, 2020 (LBO) – The European Commission has de-listed Sri Lanka from its list of High Risk Third Countries with Anti- Money Laundering and Countering the Financing of Terrorism Strategic Deficiencies published on May 07, 2020. Since the listing by the FATF, the Financial Intelligence Unit (FIU) together with other stakeholders had taken a […]