Category: Economy and Markets
EFutures helps Global Vinyl to set up SAP on AWS
Using cloud services can be overwhelming at times especially when your organization has no prior experience utilizing cloud services for any business application deployment beforehand. This article elaborates on how a managed cloud service provider like EFutures Private Limited can ease the transition of business application hosting from on premise to cloud, along with the […]
IMF discusses Sri Lanka’s intention to replace EFF with rapid financing instrument
May 08, 2020 (LBO) – The International Monetary Fund (IMF) says that they are currently discussing Sri Lanka’s intention to replace the Extended Fund Facility (EFF) arrangement that the country had with the rapid financing instrument as the current IMF program is about to be completed. During a press briefing held at the IMF yesterday, […]
Sri Lanka gross official reserves down to USD7.2 bn by end-April
May 07, 2020 (LBO) – Sri Lanka’s gross official reserves were 7.2 billion US dollars (USD7,179.9mn) by the end of April, down from 7.5 billion US dollars in March, the latest Central Bank data showed. By the end of April, the foreign currency reserves were 6,744.1 million dollars while the reserve position in the IMF […]
CBSL responds to questions asked about concessions granted to businesses
Frequently Asked Questions on concessions granted to COVID -19 hit Businesses including Self-Employment and Individuals
Central Bank urges financial institutions to reduce lending rates without delay
May 06, 2020 (LBO) – Sri Lanka’s Central Bank urges financial institutions to reduce lending rates without further delay. Failing which, the Central Bank said they will be compelled to take appropriate regulatory action to bring down market lending rates. “The Monetary Board noted, with disappointment, that market lending rates have not declined in line […]
Central Bank of Sri Lanka further reduces policy rates to support economic activity
May 06, 2020 (LBO) – The Monetary Board of the Central Bank of Sri Lanka, at a special meeting held on 06 May 2020, reviewed the current monetary policy stance and decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 50 basis points […]
ADB’s trade finance program supports medical supplies to combat COVID in Sri Lanka
May 06, 2020 (LBO) – The Asian Development Bank (ADB) has provided a guarantee for a $25 million trade loan to the State Pharmaceuticals Corporation of Sri Lanka (SPC) to purchase medical supplies as part of the country’s response to the novel coronavirus disease (COVID-19) pandemic. The supplies, to be purchased by SPC with the […]
COVID-19: out of chaos comes opportunity. But opportunity must be seized to become reality.
By Jekhan Aruliah Tinned fish to tin houses: in the weeks of the 2020 Corona curfews we frequently saw on television and on Facebook fish in metal tins donated to families in metal huts. The Covid-19 Crisis shone a stark light on the large segment of our population in Sri Lanka living in chronic dire […]
Private sector supports establishment of a Molecular Diagnostic Laboratory at IDH
May 04, 2020 (LBO) – A new Molecular Diagnostic Laboratory of the National Institute of Infectious Diseases (IDH) was declared open on 28 April 2020 by Dr. Anil Jasinghe, Director-General of Health Services. The new Laboratory was made possible due to funding and pledges received from private sector donors Melstacorp PLC, John Keells Holdings PLC, […]
Dialog commences critical ICU development at Negombo general hospital
May 04, 2020 (LBO) – As the first stage of the recently pledged 200 million rupees towards urgently required ICU capacity development in hospitals selected by the Ministry of Health (MOH), Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, commenced immediate civil reconstruction for the expansion and provision of all equipment to establish a fully […]
Local oil palm industry ready to support govt. domestic agriculture drive: POIA
May 04, 2020 (LBO) – Sri Lanka’s oil palm cultivators can provide tangible support to the government’s efforts to promote local agriculture and import substitution as a response to the impact of the COVID-19 pandemic on the national economy, the sector’s apex industry association has said. In a statement, the Palm Oil Industry Association (POIA) […]
Resumption of civilian life and office work begins from May 11
May 04, 2020 (LBO) – While the curfew is in force in the districts of Colombo, Gampaha, Kalutara and Puttalam, the resumption of civilian life and state and private sector activities will begin from Monday, 11th May, the Presidents office said. In order to ensure return to normalcy in civilian life and to revive the […]