Category: Industry
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 […]
Jack Ma Foundation and Alibaba Foundation Donate Medical Supplies to 10 More Asian Nations
The Jack Ma Foundation and Alibaba Foundation today announced plans to donate much-needed medical supplies to 10 more countries in Asia to help the global fight against COVID-19. The governments of Afghanistan, Bangladesh, Cambodia, Laos, Maldives, Mongolia, Myanmar, Nepal, Pakistan and Sri Lanka will receive from the two foundations a donation totaling 1.8 million masks, […]
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 […]
Sri Lanka to set up crude oil price stabilization fund
Mar 19, 2020 (LBO) – Sri Lanka will set up a crude oil price stabilization fund to absorb the shocks in global price fluctuations without changing the local oil prices, Co-cabinet Spokesman Bandula Gunawardane said. The government is proposing to collect 200 billion rupees for the fund to facilitate the delayed payments of the Ceylon […]
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) […]
Srilankan cancel flights to 31 destinations: Retains London, Melbourne, Chennai, Delhi & Narita
Mar 19, 2020 (LBO) – SriLankan Airlines has temporarily suspended services to several destinations following the partial shutdown of Bandaranayake International Airport. The full list follows: Kindly note SriLankan Airlines has cancelled following flights/destinations due to COVID-19 outbreak. hts/destinations due to COVID-19 outbreak. Kuwait (KWI) – from 07MAR to 28MAR Jedda (JED) – from 12MAR […]
CSE to remain closed
Mar 19, 2020 (LBO) – The Colombo stock market will remain closed for the fourth consecutive day Thursday although an announcement was made that the market will resume today. The market has been closed all week to assist in curbing the spread of COVID-19, and to ensure the safety of all market participants. This was […]
Colombo Chamber appeals to curb spread of COVID-19 in banking network
Mar 18, 2020 (LBO) – Colombo Chamber of Commerce appeals to curb the spread of COVID-19 in the banking network. The chamber suggests the following steps to be implemented particularly in the Banking Sector which has a greater economic impact and high possibility of exposure to this deadly virus spread. This is an attempt by […]
Measures adopted by CB during public holiday period
Mar 18, 2020 (LBO) – The Central Bank of Sri Lanka (CBSL) wishes to inform that the following measures have been adopted by CBSL during the public holiday period announced by the Government. REAL TIME GROSS SETTLEMENT OPERATIONS The Real Time Gross Settlement (RTGS) operations will be continued as usual. BANKING SECTOR OPERATIONS Banks have […]
President orders banks to suspend loan recoveries from businesses for 6 months
Mar 17, 2020 (LBO) – Sri Lanka’s President Gotabaya Rajapaksa orders banks and financial institutions to suspend the recovery of loans to businesses for a period of six months. In a televised speech to the nation, the President said that he would request banks to provide working capital loans to businesses at 4 percent interest. […]
Sri Lanka to stop all passenger arrivals from midnight tomorrow
Mar 17, 2020 (LBO) – The government has taken a decision to stop all passengers arriving in the country from midnight tomorrow (18) for a period of two weeks, said the Head of the National Operation Center for Prevention of COVID- 19 Army Commander Lt. Gen. Shavendra Silva. He said this during a media briefing […]