Tag: lbo
Chair of SL Tourism requests banks and fin institutions to give full support to industry
Apr 23, 2020 (LBO) – Sri Lanka Tourism plans for an early revival post-COVID-19, as the country starts opening up gradually from this week. A major step was the Cabinet approval of the critical five-year global promotion initiative last week and plans are underway to finalize the Terms of Reference and appointment of the Procurement, […]
”; Outlook stable
Apr 21, 2020 (LBO) – Fitch Ratings Lanka has affirmed Standard Chartered Bank, Sri Lanka Branch’s (SCBSL) National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable. KEY RATING DRIVERS The affirmation reflects Fitch’s expectation of a high probability of support from parent, Standard Chartered Bank (SCB: A+/Negative/a), if required, subject to any regulatory constraints on […]
SriLankan Airlines special flights to bring back stranded in India, Pakistan and Nepal
Apr 21, 2020 (LBO) – SriLankan Airlines will operate special flights from India’s Amritsar, Coimbatore, Pakistan’s Karachi, Lahore and Nepal’s Kathmandu to bring home 433 Sri Lankan students who have been stranded overseas due to the prevailing travel restrictions imposed in view of the COVID 19 pandemic. These special flights are being operated as part […]
Yenlo achieves highest WSO2 reseller status as platinum VAR
Yenlo was named a WSO2 Platinum Value-Added Reseller in recognition of its success in growing global customer adoption and delivering best-in-class open source integration and API management solutions based on the WSO2 platform. Global integration specialist Yenlo today announced that the company is now a WSO2 Platinum Value-Added Reseller, the highest reseller status recognized by […]
Opinion: COVID-19 and foreign exchange woes: Can Sri Lanka find a way out?
Bilesha Weeraratne Growing pressure on Sri Lanka’s scarce foreign exchange resources, due to the wide spread of COVID-19 across the globe, is now more real than ever before. To ease this pressure, the Central Bank of Sri Lanka (CBSL) has taken many measures to attract as well as retain more foreign exchange in Sri Lanka. […]
Condo Ass. requests Govt to permit commencement of construction projects
Apr 19, 2020 (LBO) – The Condominium Developers Association of Sri Lanka (CDASL) in a letter to the President of Sri Lanka has requested the government to permit and facilitate the commencement of construction projects as soon as practically possible. “All construction sites in Sri Lanka are suspended, and with them employment and income for […]
” 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 […]
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 […]
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 […]
South Asia must ramp up COVID-19 action to protect people, revive economies
Apr 14, 2020 (LBO) – Amid the mounting human toll and global economic fallout triggered by the COVID-19 pandemic, South Asian governments must ramp up action to curb the health emergency, protect their people, especially the poorest and most vulnerable, and set the stage now for fast economic recovery, says the World Bank in its […]
SL weak public finances will exacerbate economic shocks from COVID-19
By Fellows of the Advocata Institute Sri Lanka’s shaky public finances are about to receive another blow from the fallout of Covid-19. The most crucial aspect of a pandemic is always the human cost, but the spread of the virus has important repercussions for the economy. Studies indicate that pandemic impacts a country’s economy through […]