Category: Companies
‘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 […]
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 […]
State Banks must play their bounden role in economic revival: President
Jun 16, 2020 (LBO) – The State Banks should make their bounden contribution to rebuild the economy which is in a perilous state due to COVID – 19 pandemic. It is the responsibility of State Banks to put in place the mechanism to implement the policies of a government. Taking forward the strategy of maintaining […]
Jaffna’s Institute of Medical Sciences bringing medical careers and care to the Northern Province
By Jekhan Aruliah During the 2020 COVID-19 “Corona” Virus pandemic we really loved our health workers. We all loved them because COVID-19 hit everyone. Not through infection but through curfews. Businesses closing, shopping & socializing banned, incomes lost, economic hardship, and the stress of being locked in with our loved ones. Diseases are usually suffered […]
Foreign Ministry helps local exporters overcome adverse impact of COVID 19
Jun 12, 2020 (LBO) – Comprehensive measures taken by the Ministry of Foreign Relations, in close coordination with the key Government Economic Agencies and the private sector to address and mitigate the impact of COVID 19 particularly on Sri Lankan exports, has helped in sustaining and regaining lost markets for traditional Sri Lankan exports, while […]
PR Wire expands into insights and intelligence services
Expanding its Strategic Public Relations offering, PR Wire, a leading Public Relations Consultancy, launched PR Wire Intel™, delivering powerful business insights leading to intelligence and decision making. Most businesses having identified the importance of solutions which help in decision making and are gradually turning towards services that would assist in realizing and understanding its market, […]
Fitch revises Sunshine Holdings’ National long-term rating to ‘A(lka)’ from ‘A-(lka)’
Jun 08, 2020 (LBO) – Fitch Ratings has revised the National Long-Term Rating of Sunshine Holdings (CSE:SUN), to ‘A(lka)’ from ‘A-(lka)’ and has simultaneously affirmed its Outlook Stable. The rating revision of the diversified conglomerate, along with two other non-financial corporates, follows the recalibration of Fitch’s Sri Lankan National Rating scale to reflect changes in […]
MarCom collective commissions Ernst & Young to study industry’s economic significance
Jun 08, 2020 (LBO) – The MarCom Collective has commissioned Ernst and Young Sri Lanka (EYSL) to undertake a comprehensive study on the country’s marketing communications industry and its contribution to the Sri Lankan economy. The Collective is a group of associations, businesses and professionals from the marketing and advertising industry that came together following […]
All possible measures are taken to ensure safety of deposits: CB Governor
Jun 07, 2020 (LBO) – Sri Lanka’s Central Bank assures the general public that it will continue to take all possible measures to ensure the safety of public deposits. Releasing a statement, the Governor of the Central Bank Professor W.D. Lakshman said that they remain committed to keeping the deposits of the general public safe […]
First phase of compensation payment for The Finance Company depositors
Jun 04, 2020 (LBO) – The Central Bank has taken steps to pay compensations up to 600,000 rupees to all insured depositors of The Finance Company (TFC) as per the Regulations of Sri Lanka Deposit Insurance and Liquidity Support Scheme. The Central Bank said in a statement that the balance amount if any will be […]