The Securities and Exchange Commission of Sri Lanka (SEC) this morning (19th Mar 2020) had a meeting with the Board of Directors of the Colombo Stock Exchange (CSE) and the President of the Colombo Stock Brokers Association (CSBA) in order to obtain their views with regard to the functioning of the stock market in the…
Focus on private sector and workers spearheaded by IFC to mitigate financial and economic impact of crisis The World Bank and IFC’s Boards of Directors approved today an increased $14 billion package of fast-track financing to assist companies and countries in their efforts to prevent, detect and respond to the rapid spread of COVID-19. The…
Welcomes HE President’s initiatives, says extending support Sri Lankan SMEs bear the brunt of Coronavirus onslaught. “We welcome HE President Gotabaya Rajapakse for his initiative to remove taxes from mask imports. Our SMEs face the brunt of Coronavirus spread. We also praise his suspension of recovery of loans to businesses and SMEs by banks. Helping…
The Colombo Stock Exchange has decided to remain closed today ( 19th March 2020). Earlier, A decision was taken by the Colombo Stock Exchange (CSE), in consultation with the Securities and Exchange Commission of Sri Lanka (SEC), to resume trading today. However, Following a subsequent request of the SEC and taking into consideration the steps taken by…
Reuters – As Wall Street extended its deep sell-off on Wednesday over fears about the coronavirus, the Dow Jones Industrial Average effectively erased the last of the once sizeable gains it made under U.S. President Donald Trump. Trump’s request for Congress to approve $500 billion in cash payments to taxpayers along with $50 billion in…
CNBC – Detroit’s Big Three automakers plan to temporarily close all U.S. factories as the coronavirus sweeps across the country. The companies bowed to pressure from union leaders and employees who called for protection from the pandemic that’s spread to more than 212,000 people in nearly every country across the globe. Ford said it plans to close its…
SriLankan Airlines had received permission from Civil Aviation Authority of Sri Lanka (CAASL) to carry Sri Lankan nationals (passengers) who are currently stranded in the UK, to Colombo, on UL504, arriving in Colombo on the 19th March 2020, at 1240. As per the directive from CAASL/ AASL No passenger will be accepted at the arrival…
Sri Lanka and China Development Bank have signed an agreement for a financing facility of US$ 500 million for development efforts. Earlier, Senior Deputy Governor of Central Bank of Sri Lanka, Nandalal Weerasinghe stated that the Government is in the middle of negotiating a loan from the China Development Bank, which could be between $…
TOKYO (Reuters) – Global stock futures and Asian shares tumbled in choppy trade on Wednesday, as worries about the coronavirus pandemic eclipsed hopes broad policy support would combat the economic fallout from the outbreak. Most traditional safe-haven assets were also under pressure as battered investors looked to unwind their damaged positions, leading to wide discrepancies…
Sri Lanka’s President Gotabaya Rajapaksa orders banks and finance companies to suspend the recovery of loans to businesses for a period of six months, as the country is battling a Coronavirus epidemic. Addressing the nation yesterday (17), the president said that he would request banks to give working capital loans to businesses at 4% interest. Full…
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