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Opinion: Do modern risk methods adept to recognize corporates’ defaults due to COVID-19
By Gayan Gunewardana, Bsc/MBA/CIMA/CGMA/AIB/FRM (Banking consultant & independent researcher – Middle East) The global “war” on COVID-19 pandemic and related economic impact most certainly could lead to a global recession. This will push further 500m people into extreme poverty as per estimates. Despite, the number of initiatives by governments in terms of new regulations and […]
‘s Central Bank reduces bank rate
Apr 16, 2020 (LBO) – The Monetary Board of the Central Bank at its meeting held yesterday, having observed the cumulative reduction of the key policy interest rates of SDFR and SLFR by 200 basis points each since 31 May 2019, has decided to allow the bank rate to automatically adjust in line with the […]
Possibility of resuming day-to-day life at provincial levels explored
Apr 15, 2020 (LBO) – President Gotabaya Rajapaksa chaired a meeting at the Presidential Secretariat today (15) to explore the possibility of immediate resumption of day-to-day economic activities at provincial levels in order to safeguard the national economy. Statement from President’s Media Division Several representatives of the health sector including all the Provincial Directors of […]
Temporary suspension of SriLankan flights extended to 30th April
Apr 15, 2020 (LBO) – SriLankan Airlines says that they are compelled to extend the temporary suspension of its scheduled passenger flights till April 30, as the travel restrictions imposed by the countries in their global network continue to be in place due to the COVID 19 pandemic. The Airlines’ cargo services will continue to […]
Relief measures for tourist guides during COVID -19 outbreak
Apr 14, 2020 (LBO) – Due to the effect of COVID-19 on the tourism industry, the annual renewal of the guide license fee for the year 2021 will be waived for all tour guides. 1. As a relief measure, the annual fee for guide licenses of all four categories – National, Chauffeur, Area and Site […]
PUCSL extends electrical and plumbing issues
Apr 14, 2020 (LBO) – A special service to provide solutions for electrical systems and plumbing issues of households during the curfew period which has already been launched in the western province is now being extended to other districts of Sri Lanka. This service is jointly implemented by the Sri Lanka Police, National Water Supply […]
ADB triples COVID-19 response package to USD20Bn
Apr 14, 2020 (LBO) – The Asia Development Bank (ADB) has tripled the size of its response to the novel coronavirus disease (COVID-19) pandemic to US20 billion dollars and approved measures to streamline its operations for quicker and more flexible delivery of assistance. The package expands ADB’s $6.5 billion initial response announced on 18 March, adding $13.5 […]
South Asia must ramp up COVID-19 action to protect people, revive economies
Apr 14, 2020 (LBO) – 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 […]
Work from home period extended till next Monday
Apr 13, 2020 (LBO) – The “Work from Home Period” for employees for both public and private sectors has now been extended till April 20th, 2020, the President’s Media Division said. The schools will re-open for the 2nd term on May 11th. Distance learning facilities will be provided to students to the extent possible, during […]
Sri Lanka introduces special deposit account to manage COVID-19 challenges
Apr 12, 2020 (LBO) – Sri Lanka’s Government in consultation with the Monetary Board of the Central Bank has introduced a Special Deposit Account (SDA) with the view to seek assistance for the national effort to overcome the effects of COVID-19 outbreak in the country. All Sri Lankans and well-wishers living in Sri Lanka and […]