All Blogs
‘s Bank introduces multiple loan schemes in line with government direction
Jun 22, 2020 (LBO) – The Chairman and Board of Directors together with the management of the People’s Bank in accordance with the direction of the Government, has introduced a number of new loan schemes along with special concessionary interest rates for sectors with most of the loan schemes offering single-digit interest rates. According to […]
‘s Central Bank
Jun 21, 2020 (LBO) – Former Finance Minister Mangala Samaraweera says that he is defending the actions of the Central Bank as the Bank has done what was required of them in response to the crisis. In an open letter to Prime Minister Mahinda Rajapaksa, the former Finance Minister has pointed out that the responsibility […]
SLAITO Youth to improve sustainability of tourism industry
It is no secret that the tourism industry in Sri Lanka has weathered many storms over the past few decades but none compare to that of the present. The global crisis that has gripped almost every industry in Sri Lanka has thrown Sri Lanka tourism into uncharted waters. Hence as the apex body for the […]
Bar Association of Sri Lanka launches online Certificate Course in Commercial Arbitration
The Bar Association of Sri Lanka has launched a brand-new Certificate Course in Commercial Arbitration which will also be the first Online Course to be conducted by the BASL. The Course is due to commence on 26th June and will be conducted by a highly sought after panel of resource persons including Dr.K. Kanag-Iswaran, PC, […]
Cinnamon Hotels offers 1000 complimentary holiday packages for health workers
As a way of saying ‘Thank You’ to Sri Lanka’s courageous healthcare workers, Cinnamon Hotels & Resorts is offering 1,000 complimentary full board holiday packages, for two nights at nine of its properties in Sri Lanka. Packages will be distributed based on the nominations received from the Ministry of Health and will be valid for […]
100bps rate cut on the cards to push banks for lending: First Capital Research
Jun 19, 2020 (LBO) – First Capital Research allocates a policy rate cut expectation of 100bps bringing the SDFR and SLFR to 4.50% and 5.50%, respectively. Despite prevailing the low-interest-rate environment it will have a ripple effect on the overall economy, First Capital Research said in a new research note. “We believe that the Central […]
Only the rate cut of CB not enough: Cabraal
Jun 19, 2020 (LBO) – Sri Lanka needs to think out of the box and have a different approach to the present local and world economic crisis stemming from COVID -19, a senior official said. “We need to look at more out of the box thinking. If you want to stimulate the economy you should […]
“Exporters optimistic about new market opportunities” new USAID survey
Jun 19, 2020 (LBO) – “Sri Lankan exporters are cautiously optimistic about business continuity amidst a global pandemic,” reveals the findings of a new business survey conducted by the Ceylon Chamber of Commerce (CCC) and the United States Agency for International Development (USAID). A significant number of the firms surveyed had identified new business opportunities […]
Fitch revises outlooks of HNB Assurance, HNB General Insurance to stable
Jun 19, 2020 (LBO) – Fitch Ratings has revised the rating Outlooks of Sri Lanka-based life insurer HNB Assurance PLC (HNBA) and its fully owned non-life subsidiary, HNB General Insurance Limited (HNBGI), to Stable from Positive. In addition, Fitch has affirmed the National Insurer Financial Strength (IFS) Ratings of HNBA and HNBGI at ‘A(lka)’. KEY […]
Developing Asia to grow just 0.1-pct in 2020:ADB
Jun 19, 2020 (LBO) – Developing Asia will barely grow in 2020 as containment measures to address the coronavirus disease (COVID-19) pandemic hamper economic activity and weaken external demand, according to a new set of forecasts from the Asian Development Bank (ADB). In a regular supplement to its annual flagship economic publication, the Asian Development Outlook (ADO) 2020 released in […]