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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 […]
President discusses economic impact Corona pandemic with CB officials
Apr 01, 2020 (LBO) – President Gotabaya Rajapaksa held a discussion with the Governor of Central Bank of Sri Lanka (CBSL) and other senior officials to assess the emerging macro-economic conditions due to the impact of COVID-19 pandemic. The steps taken by the CBSL to manage the operations of the Bank to provide liquidity and […]
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 […]
President urges WHO to pursue IMF & WB debt moratorium or debt re-profiling
Apr 01, 2020 (LBO) – President Gotabaya Rajapaksa has urged the Director-General of World Health Organization (WHO) to pursue with the international financial organizations and lending nations to help developing countries adversely affected by COVID- 19 calamity. In a telephone conversation with WHO DG Tedros Adhanom, President Rajapaksa has requested him to pursue with the […]
‘s headline inflation decreased to 5.4-pct in March
Mar 31, 2020 (LBO) – Headline inflation as measured by the year-on-year change in the Colombo Consumer Price Index declined to 5.4 percent in March 2020 from 6.2 percent in February 2020, the Statistics Department said. This was due to the decline in the prices of items in the Food category. Accordingly, Food inflation (Y-o-Y) […]
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 […]
Sri Lankan government & Uber Eats partner to deliver essential supplies
Mar 31, 2020 (LBO) – The government of Sri Lanka and Uber are joining forces to deliver essential supplies as part of efforts to slow the spread of COVID-19 in the country. Uber Eats will enable people to receive essential food items and support the government’s guidelines by staying at home. Users can now get […]
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 […]
‘s complicated
To prevent the spread of the COVID-19 coronavirus and flatten the curve, many countries are practicing social distancing, or what the WHO is now calling physical distancing. The virus is transmitted via respiratory droplets, so maintaining physical distance from people can help protect you and others. People are staying inside, working from home, and only […]
More concessions to public in the face of COVID – 19 outbreak: President
Mar 31, 2020 (LBO) – A host of more financial and material benefits have been granted to low income and vulnerable families and individuals in the face of COVID – 19 outbreak. President Gotabaya Rajapaksa has instructed the Presidential Task Force established to administer essential services in the wake of spread of combat COVID – […]
Covid- 19 &’s: 5 important areas to focus on during tough times
Dr. Nirmal De Silva It is evident that the Covid-19 pandemic would create a significant economic impact globally. Whilst it is rather premature to predict the overall impact, one can safely conclude that the impact will last for a number of months (best case scenario) post Covid-19. In Sri Lanka too we can expect our […]