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Fitch recalibrates Sri Lanka National Rating Scale
May 28, 2020 (LBO) – Fitch Ratings says that it has recalibrated its Sri Lanka National Rating scale to reflect changes in the relative creditworthiness among Sri Lankan issuers following Fitch’s downgrade of the country’s sovereign rating to ‘B-‘ from ‘B’ on 24 April 2020. The Outlook on Sri Lanka’s Long-Term Issuer Default Rating is […]
CA Sri Lanka signs MoU with People’s Bank for COVID-19 loan scheme for members
May 27, 2020 (LBO) – The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) entered into a Memorandum of Understanding (MoU) with People’s Bank this week to facilitate members of the Institute to obtain a special loan of up to Rs. 20 million. The loan scheme is available for members who have been […]
Seylan Bank records Rs.902Mn profit-after-tax in Q1
Seylan Bank recorded a Profit after Tax of Rs. 902 Million in Q1 despite challenging market conditions. Net interest income increased by 7.28% during the 1Q 2020 while net fee and commission income from core banking activities witnessed an increase of 2% to reach Rs. 986 Million in 1Q 2020 as compared to Rs. 966 […]
New mechanism to repatriate Sri Lankans
May 26, 2020 (LBO) – A new mechanism is to be formulated to repatriate Sri Lankans who are stranded or faced with various difficulties in the wake of COVID – 19 pandemic. The nature of the new system will be decided at a meeting scheduled to be held tomorrow and the flights in June to […]
Thailand Prime Minister leads National committee to promote 5G development
May 26, 2020 (LBO) – A 26-member National 5G Committee has been formed with Thailand Prime Minister Prayut Chan-o-cha as chairman to coordinate the 5G development and boost the digital economy in the country. The committee is also tasked with mitigating obstacles regarding the recall of unused spectrum, from state agencies for the National Broadcasting […]
Proposal to reopen Airports for tourists from August
May 26, 2020 (LBO) – 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. The Committee members pointed out that it is a remarkable achievement that not a single infected person was reported from […]
Seychelles HC clarifies on the arrival of 35 Seychelles nationals to Sri Lanka
STATEMENT from SEYCHELLES HIGH COMMISSION On behalf of the Government of Seychelles, we wish to place on record our gratitude to the Government of Sri Lanka, its Ministry of Foreign Affairs and Ministry of Health, for enabling the visit of a group of 35 citizens of Seychelles, 24 of whom require urgent medical care, of […]
Opinion: Building a resilient food system in Sri Lanka in an age of pandemic
Manoj Thibbotuwawa COVID-19 is dealing an unprecedented blow to economies around the globe and the health risk is only the tip of the iceberg. Among the many impending crises resulting from the pandemic, rising food insecurity due to lockdown measures is one of the most critical. The 2020 Global Report on Food Crises highlights that […]
Commercial Credit appoints D Soosaipillai as new Chairman
May 26, 2020 (LBO) – D Soosaipillai, a pioneer in the leasing and financial services industry both in Sri Lanka and overseas was recently appointed as the new Chairman of Commercial Credit. He succeeds Cecil Perera, a finance industry veteran and senior attorney-at-law who chaired the Board before him and retired after the regulatory 9 […]
Curfew only between 10 pm to 4 am from tomorrow onwards
May 25, 2020 (LBO) – Curfew will be effective only between 10 pm to 4 am daily in all the districts in the island from tomorrow onwards until further notice. Traveling between districts except in the two districts of Colombo and Gampaha will also be permitted from tomorrow, Tuesday, May 26th. The Government requests the […]