Author: LBO Admin
Sarvodaya Development Finance records a profit growth of 147-pct in 2019-20
Jun 30, 2020 (LBO) – Sarvodaya Development Finance (SDF), the financial services arm of the Sarvodaya Movement, sailed through the turbulent 2019-20 financial year to report a record profit growth. The finance company, which funds the charitable and social development activities of the Sarvodaya Movement across rural Sri Lanka, recorded one of its best years […]
Fallout from Pandemic prompts an unprecedented rate cut: FCR
Jun 30, 2020 (LBO) – First Capital Research (FCR) believes that there is a higher likelihood of 90% that CBSL may provide a rate cut to ensure the continued supply of credit at a low cost of funding. The firm also believes that there is a probability of 40% for a 100bps rate cut to […]
‘s Foreign Minister gets phone call from US Secretary of State
Jun 30, 2020 (LBO) – Sri Lanka’s Foreign Relations Minister Dinesh Gunawardena and US Secretary of State Mike Pompeo has engaged in a discussion on the review report of the MCC among other matters in a telephone conversation on 29 June evening. US-Sri Lanka cooperation in COVID response-supply of PPEs to the US, donation of […]
Deliver justice to ETI & TFC depositors legally: President instructs CBSL
President Gotabaya Rajapaksa has directed the officials of the Central Bank to deliver justice to the depositors of the ETI Finance and The Finance Company PLC after seeking legal advice regarding those insolvent companies immediately. President Rajapaksa further said that a committee representing the Presidential Secretariat, the Central Bank, the Treasury, and the depositors should […]
Executive Premium, SL’s top-notch business travel partner celebrates successful first year
Executive Premium, the premier travel partner of all business travelers to and within Sri Lanka is turning One year. A strategic investment by serial investor Alex Lovell MBE, Executive Premium has earned a strong reputation as an exclusive service provider within a short span of time.A strong player in business class and city entertainment traveling, […]
Sri Lanka not among 15 countries that lifted non-essential travel to the EU
Jun 29, 2020 (LBO) – The Delegation of the European Union (EU) to Sri Lanka and the EU Member States Embassies in Colombo issuing a clarification on lifting the temporary restriction on non-essential travel to the EU and reports that Sri Lanka was not included in the list of selected countries. With the process of […]
HNB records 15-pct YoY growth in digital remittances during COVID lockdown
Jun 29, 2020 (LBO) – Sri Lanka’s HNB has reported a smooth transition to contactless remittance transactions parallel to rising demand for digital remittances and cardless withdrawals during the coronavirus lockdown. The bank recorded a 15% Year-on-Year (YoY) increase in digital remittances and a 10% YoY increase in cardless withdrawals across its extensive ATM network […]
Opinion: Three key priorities for Engineering & Construction companies beyond COVID
By PricewaterhouseCoopers (PwC) Sri Lanka: The impact of the COVID-19 pandemic on the engineering and construction industry is unprecedented. Based on our discussions with clients, construction projects are expected to be delayed or cancelled. Global, as well as local supply chains, are under pressure whilst the health and safety of employees is a concern. Most […]
SEC continues engaging with capital market stakeholders
As part of its continuing efforts to reach out to market participants Viraj Dayaratne PC, Chairman of the Securities and Exchange Commission of Sri Lanka (SEC) along with other Commission Members met with representatives of the Ceylon Chamber of Commerce, Law Firms and Stockbroker Firms. These interactions were held as part of a series of […]
We are pleased to contribute towards MCC review committee: Bar Association of Sri Lanka
Jun 29, 2020 (LBO) – Bar Association of Sri Lanka (BASL) says that they are pleased to have contributed towards the final conclusions of the committee appointed to review the MCC. “We are pleased to note that a number of concerns highlighted in our observations have been recognized by the Special Committee,” the BASL said […]
CBSL implements Credit Guarantee & Interest Subsidy Scheme for businesses
Jun 28, 2020 (LBO) – Sri Lanka’s Central Bank has decided to implement a Credit Guarantee and Interest Subsidy Scheme to accelerate lending by banks to businesses adversely affected by the COVID-19 pandemic. The Monetary Board of the Central Bank, at its meeting held on 26 June 2020 has decided that this scheme, which will […]
‘s government makes MCC review final report public
Jun 28, 2020 (LBO) – Sri Lanka’s government has published the final report by the Expert’s Committee appointed to review the proposed Millennium Challenge Corporation Compact (MCC). President Gotabaya Rajapaksa appointed a four-member Committee to review the proposed Millennium Challenge Corporation Compact (MCC) on January 01st, 2020. The Committee was chaired by Lalithasiri Gunaruwan, a […]