Category: Industry
WhatsApp introduces limit to message forwarding
With billions of people unable to see their friends and family in person due to COVID-19, people are relying on WhatsApp more than ever to communicate. People are talking to doctors, teachers, and isolated loved ones via WhatsApp during this crisis.That’s why all your messages and calls on WhatsApp are end-to-end encrypted by default to […]
COVID-19 prevention program proceeds with professional expertise: President
Apr 06, 2020 (LBO) – Presided by President Gotabaya Rajapaksa, a discussion took place at the Presidential Secretariat to review the progress of the COVID-19 prevention program and to decide on the steps needed to take this program forward. President of Government Medical Officers Association Dr. Anuruddha Padeniya analyzed the manner this virus had affected […]
‘s Hatch and LAN gear up to launch first fintech accelerator
Apr 06, 2020 (LBO) – In April 2020, Hatch in partnership with Lankan Angel Network (LAN) and through the support of the Ford Foundation, will officially launch the first chapter of its start-up accelerator programme ‘HatchX’, establishing Sri Lanka’s first fintech accelerator. The programme’s strategic partner will be the Fintech Association of Sri Lanka (FASL). […]
Chamber Academy hosts first Work-From-Home webinar
Taking the lead in empowering the private sector during COVID-19, the Chamber Academy of the Ceylon Chamber of Commerce in collaboration with FITIS and LK Domain Registry, hosted a webinar for over a hundred participants, on how to successfully work from home (WFH). The webinar covered an introduction to working from home, and the communication […]
Daraz can bring expertise from its parent company Alibaba during this time of crisis and potentially service 10,000 households daily
Daraz, Sri Lanka’s largest e-commerce platform, ordinarily connects thousands of sellers to millions of consumers across the country. Now, however, the scalability and scope of the e-commerce giant’s platform and logistics expertise have urgent applications that will sustain the people in these uncertain times – the delivery of essential goods every day to Sri Lankan […]
‘s growth prospects, Projected to fall to 2.2-pct in 2020: ADB
Apr 03, 2020 (LBO) – The Asian Development Bank’s (ADB) flagship annual economic publication, the Asian Development Outlook (ADO) 2020, forecasts significant headwinds for Sri Lanka’s economy as it fights the spread of COVID-19, which comes less than 12 months after the terror attacks in April 2019. Sri Lanka’s economic growth is projected to fall to […]
Coronavirus intensifies pressure on Sri Lanka Finance Companies: Fitch Ratings
Apr 03, 2020 (LBO) – The coronavirus outbreak and the resultant prolonged business disruptions will put additional pressure on Sri Lankan finance and leasing companies’ (FLCs) earnings and asset quality, says Fitch Ratings. The ultimate economic and financial market implications of the outbreak are unclear, while Fitch considers the risks to NBFIs’ credit profiles to […]
We have underutilised capacity that can be deployed at any time: PickMe CEO
Apr 02, 2020 (LBO) – With a fleet of 40,000 vehicles ready to be utilized for the delivery of essentials to Sri Lanka, PickMe says they have under utilized capacity that can be deployed at any time at short notice. “Currently, we have the full strength of cars, three-wheelers, and motorcycles spread across the country […]
SriLankan implements cost-saving measures including salary reductions
Apr 02, 2020 (LBO) – The management of SriLankan Airlines has decided to implement cost-saving measures including mandatory salary reductions from the staff starting from 2.5 percent to 25 percent for a period of three months. It also includes freezing all the salary increments to be implemented in the year 2020, and other initiatives including […]
ComBank deploys mobile units in curfew areas
Apr 01, 2020 (LBO) – The Commercial Bank of Ceylon of Ceylon has announced it is deploying its ‘Bank-on-Wheels’ Mobile ATM units in areas where curfews are in force, to provide urgently needed access to cash to members of the public. The Bank said a schedule containing details of the locations and times that these […]
SriLankan Airlines to suspend all its flights from next Wednesday
Apr 01, 2020 (LBO) – SriLankan Airlines is to temporarily suspend all its flights from 8 April 2020 to 21 April 2020 in view of the travel restrictions imposed by the destinations they operate to. Urgent statement from SriLankan Airlines Colombo 01 April 2020: We, at SriLankan Airlines, regret very much to inform our valued […]
Central Bank facilitates finance & leasing companies to support businesses
Mar 31, 2020 (LBO) – The Monetary Board of the Central Bank of Sri Lanka has decided to introduce a number of measures to provide flexibility to Licensed Finance Companies (LFCs) and Specialised Leasing Companies (SLCs) facilitating them to support businesses and individuals affected by the outbreak of COVID-19. In line with this initiative, the […]