Tag: lbo
3D virtual tours of Cinnamon Life and TRI-ZEN apartments launched
May 11, 2020 (LBO) – John Keells Properties has announced that in order to accommodate prospective buyers moving forward with their apartment searches, it is using virtual reality technology to provide virtual tours of show units for its two upcoming residential developments, Cinnamon Life and TRI-ZEN. With respect to the government’s stay-at-home directive in order […]
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 […]
‘ ratings: Fitch
May 06, 2020 (LBO) – Fitch Ratings has downgraded in May 2020 three Sri Lankan banks’ issuer default ratings after it downgraded Sri Lanka’s sovereign rating to ‘B-‘ with a negative outlook and revised down its assessment of the banks’ operating environment, both of which reflect the escalating impact of the coronavirus pandemic on the […]
Sri Lanka Tourism requests all tourists in the island to register
May 05, 2020 (LBO) – Sri Lanka Tourism is in the process of gathering details of all tourists, businessmen and expatriates engaged in the tourism industry of Sri Lanka in the outbreak of COVID-19 Pandemic in the country. According to immigration data, there are 11,389 tourists in the country as of 4th May and Sri […]
Coping with COVID-19: Economics of social media based business in Sri Lanka during crises
Kithmina Hewage and Harini Weerasekera As of January 2018, there were six million active social media users in Sri Lanka, accounting for 30% of the population. The prominence of social media as a platform for information exchange – both globally and in Sri Lanka – is well documented. The current COVID-19 pandemic is probably the […]
Modalities to issue temporary travel documents to undocumented workers abroad agreed on
May 05, 2020 (LBO) – Modalities to issue temporary travel documents to undocumented workers abroad following proper authentication procedures has been agreed on by the Department of Immigration and Emigration. This follows consultations between the Ministry of Foreign Relations, Ministry of Skills Development, Employment and Labour Relations and Sri Lanka Bureau of Foreign Employment (SLBFE). […]
Seylan Bank and staff lend helping hand to fight COVID-19
May 04, 2020 (LBO) – Sri Lanka’s Seylan Bank PLC staff apart from delivering essential services, contributed a days salary and the bank contributed an equal amount to fight COVID-19 in the country, the bank said. Part of this fund was directed to donate 8000 face shields to Sri Lanka Police officers in Western Province and […]
Daraz initiates seller stimulus programme to revive Sri Lanka’s SMEs
With the uncertainty of the social and economic situations in the country due to COVID–19, businesses are severely affected with a larger impact on the small and medium enterprises. Although essential services continue, the 500,000+ strong SME sector of Sri Lanka includes industries other than those categorized under ‘essential services’. The lack of a platform […]
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) […]
WHO convenes manufacturers, regulatory authorities meet on COVID-19 vaccines
May 04, 2020 (LBO) – Gearing up for the much needed COVID-19 vaccines, the World Health Organization recently organized a meeting of vaccine manufacturers and national regulatory authorities from its South-East Asia Region. “The manufacturing capacity that exists in our Region is of the quality and scale required to produce and roll-out a COVID-19 vaccine globally. […]