Author: LBO Admin
VIDEO: Milton Friedman – Stimulus and Inflation
Professor Friedman connects the dots between stimulus spending and inflation, then explains why the cure for inflation is a hard medicine.
Utilize reliefs given by Central Bank to strengthen economy: President tells State Banks
Jun 18, 2020 (LBO) – President Gotabaya Rajapaksa has emphasized that it is the responsibility of state banks to utilize the reliefs provided by the Central Bank to strengthen the economy and the people, affected by COVID 19 pandemic. The global economies have been hit hard by coronavirus.As such all types of businesses including agriculture, […]
ComBank’s Flash & PickMe collaborate to offer contactless payment via QR code
The Commercial Bank of Ceylon has announced that its ‘Flash’ digital account holders can now pay digitally for their rides with taxi service PickMe thanks to a convenient QR code upgrade that minimises contact with the driver. This touch-less and cash-less payment option is made possible by the Bank’s recent partnership with PickMe and the […]
Uber Eats provides dry rations worth Rs.8.5Mn million to low-income families
Jun 17, 2020 (LBO) – Uber Eats, in partnership with the Government of Sri Lanka and the Voice for Voiceless Foundation, is distributing LKR 8.5 million worth of dry rations across the country to support low-income communities during the COVID-19 pandemic. This initiative is being carried out as part of Uber’s global pledge to provide […]
Crescat Boulevard mall be revamped
Jun 17, 2020 (LBO) – Asian Hotels and Properties PLC (AHPP) announced that it would be moving forward with major investments towards the refurbishment of Crescat Boulevard. First opening its doors in 1997, Crescat Boulevard was a pioneering development at the time, and soon became an iconic location in Colombo. It was the very first […]
” launches Equity Fund & Money Market Fund
Jun 17, 2020 (LBO) – Softlogic Invest, the Asset Management arm of Softlogic Capital, recently launched two unit trusts or mutual funds – Softlogic Equity Fund and Softlogic Money Market Fund after obtaining the license from the Securities Exchange Commission of Sri Lanka (SEC). Capitalizing on the existing expertise coming in via the Softlogic financial […]
Dedicated credit scheme to be introduced for construction sector
Jun 16, 2020 (LBO) – Sri Lanka’s Central Bank is to introduce a new facility for the construction sector enterprises to borrow from Licensed Commercial Banks, using guarantees issued by the government equivalent to the amount due on account of contracts carried out in the past. This new dedicated credit scheme is to be funded […]
‘s Central Bank further reduces Statutory Reserve Ratio
Jun 16, 2020 (LBO) – The Monetary Board of the Central Bank has decided to reduce the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of licensed commercial banks (LCBs) by 200 basis points to 2.00 percent, with effect from the reserve maintenance period that commenced on 16 June 2020. According to the […]
Opinion: How Life Insurance can succeed in the post-COVID economy
By Chula Hettiarachchi: The unprecedented global climate of today has taken a heavy toll on life. At no point in time, did we anticipate that a single health pandemic would so significantly shift our focus as a society and leave us assessing where we all fit in this “New Normal”. Now more than ever, individuals […]
Emirates to begin outbound flights from Colombo on 20 June
Jun 16, 2020 (LBO) – Emirates has announced the launch of outward-bound passenger flights from Sri Lanka, starting Saturday 20 June 2020, to facilitate travel for foreign nationals as well as Sri Lankans who need to return to families, jobs or education overseas. The airline currently operates passenger flights to 30 destinations with connectivity for […]
Developers confident Sri Lanka real estate will regain momentum
Jun 16, 2020 (LBO) – Sri Lanka’s construction sector which ranks as the 5th highest in the nations GDP earnings, after services, manufacturing, agriculture and utilities reports continued interest from local and international buyers as the industry gears towards returning to construction in a COVID-19 affected world. The current pandemic has left several industries drastically […]
‘ stresses: Fitch Ratings
Jun 16, 2020 (LBO) – Sri Lankan banks’ operating environment and financial profiles ace escalating risks from the economic fallout of the coronavirus. Fitch Ratings now expects Sri Lanka’s real GDP to contract by 1.3% in 2020, worsening from our earlier forecast of a 1.0% contraction published 24 April 2020 due to the pandemic. Deterioration […]