Category:
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 […]
‘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 […]