Author: LBO Admin
‘s curfew completely lifted
Jun 28, 2020 (LBO) – Sri Lanka’s curfew has completely been lifted effective from today, June 28th Sunday, the President’s Media Division said. The curfew which was imposed in order to prevent the spread of COVID -19 for the first time on March 20th was in force from 12.00 midnight to 4.00 am from June […]
VIDEO: Just How Safe Is It To Be Outside During Coronavirus?
Summer is just around the corner, and the outdoors may seem like the perfect escape from the threat of contracting the virus. States are slowly reopening businesses and stir-crazy Americans are flocking to beaches and taking hikes. Are we really that much safer just by being outside?
‘s Bank set to boost SMEs with Rs. 15bn allocation for loans at 6-pct
In line with the Government’s development programme and with the aim of uplifting the small and medium businesses adversely affected by the COVID-19 pandemic, People’s Bank has introduced a special loan scheme with an interest rate of just 6%. The Bank has allocated Rs. 15 billion for this purpose. The unexpected impact of the COVID-19 […]
Second stage of compensation payments to The Finance Company depositors
Jun 26, 2020 (LBO) – Sri Lanka’s Central Bank has taken measures to commence the second stage of the compensation payments to the depositors of The Finance Company PLC (TFC) with effect from 02.07.2020. In terms of this compensation mechanism Rs.600,000/- is paid per depositor basis. Accordingly, such payments will be taken place at 63 […]
Enactment of Microfinance & Credit Regulatory Authority law vital: CBSL
Jun 26, 2020 (LBO) – Central Bank reiterates the requirement for the enactment of a legal framework to regulate unregulated moneylending activities so that a better and more effective regulatory environment is crated for money lending institutions in the future. Releasing a statement, the bank said the need for the enactment of the proposed Microfinance […]
Bank of Ceylon disburses loan facilities over Rs. 4bn thus far
Jun 26, 2020 (LBO) – As the Sri Lankan business community struggles to recover from the devastating effects of the COVID-19 economic impact, the country’s premier state-owned bank, Bank of Ceylon, has reached a milestone in providing the community with a lifeline of recovery. “Businesses affected by the pandemic have been granted a moratorium for […]
SL Treasury, Central Bank should consider credit guarantees for Covid-19 distressed bank loans
By the Advocata Fellows: Liquidity injections will impact forex market and debt repayments Even though Sri Lanka’s economy has opened up, businesses are still recovering from the dual shock of the locally imposed curfew as well as the global fallback from the coronavirus. A vast majority of Sri Lankan businesses are in need of support […]
Central Bank sets record straight about COVID-19 relief measures announced so far
Jun 26, 2020 (LBO) – Sri Lanka’s Central Bank yesterday published a detailed statement which contains operational and policy measures undertaken by them thus far, to support the economy, the financial system, and the general public in the midst of the COVID-19 pandemic. “The Central Bank actively took steps to ease the burden on the […]
Pakistan PM commends efforts made by Sri Lanka to fight Covid-19 pandemic
Jun 26, 2020 (LBO) – Pakistan’s Prime Minister Imran Khan has commended the efforts made by Sri Lanka to fight the Covid-19 pandemic during a telephonic conversation with Sri Lankan President yesterday. Releasing a statement, the Prime Minister’s Office of Pakistan said that the two leaders agreed to remain in close contact to coordinate a […]
MCC review final report presented to President; report to be published
Jun 25, 2020 (LBO) – The final report of the Expert’s Committee appointed to review the proposed Millennium Challenge Corporation Compact (MCC) was handed over to President Gotabaya Rajapaksa at the Presidential Secretariat today (25). Later the report will be placed before the public. The Committee has presented its recommendations following a 6 months long […]
” offers special low-interest business loans
Jun 25, 2020 (LBO) – Sampath Bank has rolled out a host of special business loans and gold loans under its Revive Sri Lanka initiative at a low-interest rate of 9% p.a. Sampath Bank is now offering special low-interest Sampath Diriya loans of Rs.10 million up to Rs. 100 million at 9% p.a. under the […]
SriLankan Airlines converts passenger aircraft to full freighter supporting exporters
Jun 25, 2020 (LBO) – SriLankan Airlines has converted a wide-body passenger aircraft into a dedicated cargo aircraft to support export industries and to keep the country connected with the global economy during the pandemic. This converted Airbus A330 aircraft will commence operations today to key destinations in the Far East and Europe. The reconfiguration […]