The Colombo Stock Exchange (CSE) has decided to remain closed for trading from 01st April 2020 until the curfew is lifted. The extraordinary measures taken by the Government of Sri Lanka in order to contain the COVID-19 pandemic includes an extension of a country-wide curfew. The Government has also given specific directions with regard to social distancing…
According to the latest external trade data released by the Central Bank, country’s trade deficit widened in January 2020 compared to January 2019, as earnings from exports declined while expenditure on imports increased. The deficit in the trade account widened in January 2020 to US dollars 730 million, from US dollars 617 million in January 2019,…
BEIJING (Reuters) – Factory activity in China unexpectedly expanded in March from a collapse the month before, but analysts caution that a durable near-term recovery is far from assured as the global coronavirus crisis knocks foreign demand and threatens a steep economic slump. China’s official Purchasing Managers’ Index (PMI) rose to 52 in March from…
Today, the World Health Organization (WHO) and Rakuten Viber, announce a new partnership to fight misinformation around COVID-19 with an interactive multi-language chatbot available globally. The bot aims to combat fake news and false information that has been rapidly circulating about the virus. To assist people who are looking for accurate health information, the chatbot…
*Asia includes Cambodia, China, Hong Kong, Indonesia, Japan, Republic of Korea, Malaysia, Mongolia, Myanmar, Philippines, Singapore, Taiwan, Thailand and Vietnam. **South Asia includes India, Nepal and Sri Lanka. While much uncertainty and volatility exist, chief executives are staying calm, focusing on the facts and planning in the early weeks of the spread of COVID-19. In…
The Sri Lankan rupee, which remained broadly stable in the month of January as well as until the first week of March, depreciated sharply with the speculative behaviour in the market with the spread of COVID-19 outbreak. Accordingly, the rupee has recorded a depreciation of 4.7% against the US dollar by 30 March 2020, latest External…
In view of the extension of the curfew by the Government, the Colombo Stock Exchange (CSE) has decided that the CSE will remain closed for Trading on Tuesday, 31st March 2020. Accordingly, 31st March 2020 will be considered as a market holiday. A decision on when the CSE will be reopened will be taken at…
A large number of organizations and individual donors are contributing funds to strengthen the COVID – 19 Healthcare and Social Security Fund. President Gotabaya Rajapaksa established this Fund on March 23 to strengthen the mitigation activities aimed at controlling the spread of COVID-19 virus in the country and related social welfare programmes. Creating the Fund,…
The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided to introduce several extraordinary regulatory measures to provide flexibility to Licensed Commercial Banks and Licensed Specialised Banks to provide some relief to businesses and individuals affected by the COVID-19 crisis. In deciding these measures, the Monetary Board took note of the overall…
Sri Lanka should return approximately 20% of the balances amounting to around Rs.500 billion of the Employees Provident Fund (EPF) lying to the credit of members, directly to members after the current COVID- 19 pandemic ends, former Central Bank Governor and current Senior Advisor on Economic Affairs to the Prime Minister Ajith Nivard Cabraal said….
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