Category: Companies
CSE to remain closed for trading from tomorrow until curfew is lifted
Mar 31, 2020 (LBO) – Colombo Stock Exchange will remain closed for trading from 01 April 2020 until the curfew is lifted, the exchange said in a notice. CSE further stated that the decision has been taken pursuant to a guidance received from the Securities and Exchange Commission. The extraordinary measures taken by the government […]
CBSL implements extraordinary measures to facilitate banks to support businesses
Mar 30, 2020 (LBO) – The Monetary Board of Sri Lanka’s Central Bank has decided to introduce several extraordinary regulatory measures to provide flexibility to Licensed Commercial Banks and Licensed Specialised Banks to provide some relief to businesses and individuals affected by the COVID-19 crisis. In deciding these measures, the Monetary Board has taken note […]
”: Economic impact of COVID-19 on Sri Lanka
Kithmina Hewage Over a quarter of the world’s population is currently under movement restrictions. For the first time in recent human history, coronavirus has shattered the myth that the economy must come first. While public health concerns, undoubtedly, should take precedence over all other considerations when dealing with the COVID-19 pandemic, it would be unwise […]
Central Bank, commercial banks, insurance services declared as essential services
Mar 26, 2020 (LBO) – President Gotabaya Rajapaksa has included the Central Bank of Sri Lanka, commercial banks, insurance services, and the Treasury in the category of essential services. Health and security services, Police, distribution of goods, customs, electricity, water, and fuel supply are the other services declared as essential. Accordingly, the Secretary to the […]
‘s banking sector outlook to negative on Coronavirus
Mar 26, 2020 (LBO) – Fitch Ratings has revised Sri Lanka’s banking sector outlook for 2020 to negative as the coronavirus pandemic poses increased risks to the anticipated expansion in the economy and credit demand, which will adversely affect the performance of the banks. Full statement Fitch Revises Sri Lanka’s Banking Sector Outlook to Negative […]
‘s President calls on international donor agencies to grant debt moratorium
Mar 25, 2020 (LBO) – Sri Lanka’s President Gotabaya Rajapaksa requests international donor agencies to provide a debt moratorium or debt deferment facility to all vulnerable developing nations to the COVID – 19 risks. President had urged Director-General of the World Health Organization to forward this request to multi-lateral and bilateral lending agencies. President points […]
Sri Lanka announces relief measures as country battles with COVID19
Mar 24, 2020 (LBO) – Sri Lanka’s government has announced a number of relief measures to people undergoing various hardships due to the prevailing situation brought on by the Coronavirus. Accordingly, the President has directed the Governor of Central Bank, the secretaries of all ministries, chief secretaries of all provincial councils and the heads of […]
CBSL requests banks to open at least for 2 hours tomorrow
Mar 22, 2020 (LBO) – Sri Lanka’s Central Bank has requested all Licensed Commercial Banks and Licensed Specialised Banks to keep their branches open at least for two (2) hours on the 23rd March 2020 in the areas where police curfew is lifted to provide urgent banking services to the general public. However, CBSL encourages […]
CSE trading closed as both indices drop over 5-pct
Mar 20, 2020 (LBO) – Trading at the Colombo stock exchange closed at midday as the S&P SL20 index of more liquid stocks fell 11.90 percent or 262.42 points to 1.971.11. The All-share index also fell 6.22 percent or 303.10 points in early trade to 4,571.63. The market fell due to the fears of foreign […]
Sri Lanka Govt declares work from home week
Mar 19, 2020 (LBO) – The government has declared a period of work from home for both public and private sectors starting from March 20 to 27, the President’s media division said in a statement. March 20th to 27th declared as ‘Work from home week’ The government has taken every possible measure to contain the […]
6-month debt moratorium only applies to 5 sectors
Mar 19, 2020 (LBO) – The 6-month debt moratorium announced for businesses will only be applicable to the most adversely affected five sectors of the economy, Co-cabinet Spokesman Bandula Gunawardane said. Accordingly, Apparel Exports, Tourism, Information Technology, Foreign Employment, and Small Enterprises will be eligible for this debt moratorium. The government has also requested the […]
BBK Partnership, Jaffna’s accountants to the World
I first heard of the BBK Partnership Sri Lanka in 2015. I first spoke with its co-founder Anandan Arnold in 2018, and finally met him in March 2020 at a hospital in Manipay Jaffna. He was dressed rather informally for a Partner of London’s BBK Partnership of Chartered Accountants. Anandan (pictured below on the right) […]