Category:
‘s request for Rapid Credit Facility this week
Apr 17, 2020 (LBO) – The International Monetary Fund (IMF) is starting to review Sri Lanka’s request for Rapid Credit Facility this week, the international organization said. During a press briefing held yesterday, IMF’s Director of Asia and Pacific Department, Changyong Rhee confirmed that they received a letter from Sri Lanka’s government about the Rapid […]
” rating
Apr 16, 2020 (LBO) – Fitch Ratings has revised the Outlook on Sri Lankan consumer-durable retailer Abans PLC’s National Long-Term Rating to Negative from Stable. Fitch has simultaneously affirmed the National Long-Term Rating at ‘BBB+(lka)’, the ‘BBB+(lka)’ rating on Abans’ outstanding senior unsecured debentures and the ‘F2(lka)’ National Short-Term Rating on its commercial paper. The […]
Smoking cessation in Sri Lanka: A silver lining in COVID-19 crisis?
Chathurga Karunanayake As the deadly COVID-19 pandemic threatens the entire world, claiming thousands of lives and disrupting economic activities, it would be wise to look at the role smoking cessation could play in the response. According to the World Health Organization (WHO) and the Government Medical Officers’ Association (GMOA), smokers are at a higher risk […]
Plantation sector estimates 40-pct drop in tea production from 3-month drought
Apr 16, 2020 (LBO) – Planters’ Association of Ceylon (PA) estimates a 40 percent drop in estate tea production solely resulting from unprecedented drought for the past 3 months. PA Chairman, Sunil Poholiyadde releasing a statement said that the loss in crop had already created an increase in the cost of production. However, given the […]
President discusses rebuilding economy amidst COVID-19 challenges
Apr 16, 2020 (LBO) – President Gotabaya Rajapaksa discussed rebuilding the economy in the face of the current challenges during a meeting with the secretaries to ministries yesterday (15) at the Presidential Secretariat. A focal point of the discussion was on returning to normalcy without compromising safety. To do so, the President emphasized the need […]
Opinion: Do modern risk methods adept to recognize corporates’ defaults due to COVID-19
By Gayan Gunewardana, Bsc/MBA/CIMA/CGMA/AIB/FRM (Banking consultant & independent researcher – Middle East) The global “war” on COVID-19 pandemic and related economic impact most certainly could lead to a global recession. This will push further 500m people into extreme poverty as per estimates. Despite, the number of initiatives by governments in terms of new regulations and […]
‘s Central Bank reduces bank rate
Apr 16, 2020 (LBO) – The Monetary Board of the Central Bank at its meeting held yesterday, having observed the cumulative reduction of the key policy interest rates of SDFR and SLFR by 200 basis points each since 31 May 2019, has decided to allow the bank rate to automatically adjust in line with the […]
Possibility of resuming day-to-day life at provincial levels explored
Apr 15, 2020 (LBO) – President Gotabaya Rajapaksa chaired a meeting at the Presidential Secretariat today (15) to explore the possibility of immediate resumption of day-to-day economic activities at provincial levels in order to safeguard the national economy. Statement from President’s Media Division Several representatives of the health sector including all the Provincial Directors of […]
Temporary suspension of SriLankan flights extended to 30th April
Apr 15, 2020 (LBO) – SriLankan Airlines says that they are compelled to extend the temporary suspension of its scheduled passenger flights till April 30, as the travel restrictions imposed by the countries in their global network continue to be in place due to the COVID 19 pandemic. The Airlines’ cargo services will continue to […]
Relief measures for tourist guides during COVID -19 outbreak
Apr 14, 2020 (LBO) – Due to the effect of COVID-19 on the tourism industry, the annual renewal of the guide license fee for the year 2021 will be waived for all tour guides. 1. As a relief measure, the annual fee for guide licenses of all four categories – National, Chauffeur, Area and Site […]
PUCSL extends electrical and plumbing issues
Apr 14, 2020 (LBO) – A special service to provide solutions for electrical systems and plumbing issues of households during the curfew period which has already been launched in the western province is now being extended to other districts of Sri Lanka. This service is jointly implemented by the Sri Lanka Police, National Water Supply […]
ADB triples COVID-19 response package to USD20Bn
Apr 14, 2020 (LBO) – The Asia Development Bank (ADB) has tripled the size of its response to the novel coronavirus disease (COVID-19) pandemic to US20 billion dollars and approved measures to streamline its operations for quicker and more flexible delivery of assistance. The package expands ADB’s $6.5 billion initial response announced on 18 March, adding $13.5 […]