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”s B2 ratings on review for downgrade
Apr 17, 2020 (LBO) – Moody’s Investors Service (“Moody’s”) has today placed the Government of Sri Lanka’s long-term foreign-currency issuer and senior unsecured B2 ratings under review for downgrade. Full statement Rating Action: Moody’s places Sri Lanka’s B2 ratings on review for downgrade Singapore, April 17, 2020 — Moody’s Investors Service (“Moody’s”) has today placed […]
How to manage public transport in post-COVID: Recommendations by CCC
Apr 17, 2020 (LBO) – The Ceylon Chamber of Commerce has formulated and submitted a proposal to the government on how to manage passenger transport safely as the government considers exit strategies from the current curfew status. The working paper was formulated by the Sub Committee on Passenger Transport of the National Agenda Committee (NAC) […]
‘s request for Rapid Credit Facility this week
Apr 17, 2020 (LBO) – The International Monetary Fund (IMF) is starting to review Sri Lanka’s request for Rapid Credit Facility this week, the international organization said. During a press briefing held yesterday, IMF’s Director of Asia and Pacific Department, Changyong Rhee confirmed that they received a letter from Sri Lanka’s government about the Rapid […]
” rating
Apr 16, 2020 (LBO) – Fitch Ratings has revised the Outlook on Sri Lankan consumer-durable retailer Abans PLC’s National Long-Term Rating to Negative from Stable. Fitch has simultaneously affirmed the National Long-Term Rating at ‘BBB+(lka)’, the ‘BBB+(lka)’ rating on Abans’ outstanding senior unsecured debentures and the ‘F2(lka)’ National Short-Term Rating on its commercial paper. The […]
Smoking cessation in Sri Lanka: A silver lining in COVID-19 crisis?
Chathurga Karunanayake As the deadly COVID-19 pandemic threatens the entire world, claiming thousands of lives and disrupting economic activities, it would be wise to look at the role smoking cessation could play in the response. According to the World Health Organization (WHO) and the Government Medical Officers’ Association (GMOA), smokers are at a higher risk […]
Plantation sector estimates 40-pct drop in tea production from 3-month drought
Apr 16, 2020 (LBO) – Planters’ Association of Ceylon (PA) estimates a 40 percent drop in estate tea production solely resulting from unprecedented drought for the past 3 months. PA Chairman, Sunil Poholiyadde releasing a statement said that the loss in crop had already created an increase in the cost of production. However, given the […]
President discusses rebuilding economy amidst COVID-19 challenges
Apr 16, 2020 (LBO) – President Gotabaya Rajapaksa discussed rebuilding the economy in the face of the current challenges during a meeting with the secretaries to ministries yesterday (15) at the Presidential Secretariat. A focal point of the discussion was on returning to normalcy without compromising safety. To do so, the President emphasized the need […]
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 […]