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Govt. issues regulations to maintain normalcy in civilian life during curfew
The ongoing curfew in the districts of Colombo, Gampaha, Kalutara and Puttalam will remain in force till 5.00am on Monday, May 04th. In all other districts, curfew will be lifted at 5.00am on Monday, the 27th April and will be re-imposed at 8.00pm on the same day. In these districts, curfew will be effective from […]
Hambantota Port urges importers to clear vehicles without delay
Apr 25, 2020 (LBO) – Hambantota International Port (HIP) is ready to move over five thousand vehicles out of the port in the next few days, following a directive by the government that the port should remain clear for essential services. Full statement HIP had previously informed all stakeholders, in their letter, that demurrage costs […]
Union Bank to cease its operations as a Primary Dealer
Apr 24, 2020 (LBO) – Monetary Board of the Central Bank of Sri Lanka has granted approval for Union Bank of Colombo to cease its operations as a Primary Dealer with effect from 01 May 2020. Union Bank will continue to function as a Dealer Direct Participant in the LankaSettle system and transact in scripless […]
WTO, IMF call on countries to remove recent trade restrictions
Apr 24, 2020 (LBO) – The World Trade Organization (WTO) and The International Monetary Fund (IMF) call on governments to refrain from imposing or intensifying export and other trade restrictions and to work to promptly remove those put in place since the start of the year. Releasing a joint statement on trade and the COVID-19 […]
”; outlook negative
Apr 24, 2020 (LBO) – Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) to ‘B-‘, from ‘B’ with a negative outlook. Full statement KEY RATING DRIVERS The downgrade of Sri Lanka’s IDRs reflects the following key rating drivers. The shock to Sri Lanka’s economy from the coronavirus pandemic will […]
Webinar on handling personal stress of employees and customers
The Chamber Academy of the Ceylon Chamber of Commerce will be hosting a webinar with licensed psychologist, George F. Rhoades Jr. Ph.D, on how to handle personal stress, and the stress of employees, customers, and clients in a time of natural disaster. Whether teams are working remotely or practicing social distancing in the office, overall […]
Sri Lanka missions abroad seek to re-position exports to meet new market conditions
Foreign Secretary Ravinatha Aryasinha has observed that even as the Foreign Ministry was preoccupied with endeavouring to mitigate a multitude of problems faced by Overseas Sri Lankans, it was in parallel also seeking to re-position Sri Lanka’s exports in the context of market conditions that have arisen as a result of the COVID-19 crisis. He […]
Lifting curfews not the end of epidemic in any country: WHO
Apr 24, 2020 (LBO) – Lifting so-called lockdown restrictions or curfews are not the end of the epidemic in any country, the World Health Organization (WHO) said in their latest update. WHO insists that countries must ensure they can detect, test, isolate, and care for every case, and trace every contact. “This virus will be […]
Commodity prices to drop in 2020 as COVID-19 depresses demand & disrupts supply: WB
Apr 24, 2020 (LBO) – The global economic shock of the COVID-19 pandemic has driven most commodity prices down and is expected to result in substantially lower prices over 2020, the World Bank said in its April Commodity Markets Outlook. Energy and metals commodities are the most affected by the sudden stop to economic activity […]