Perceived Economic Opportunity Index: January – March 2020 Given the onset of Covid19 all research activity sized middle of March 2020 with the whole country going in to a lockdown and subsequently a nationwide curfew. Therefore, data for Quarter 1 for 2020 is restricted to January and February. Methodology The PEOI is calculated based on…
The effects of COVID-19 on banks in Asia-Pacific (APAC) will be more severe than those of a normal cyclical downturn, says Fitch Ratings in its latest report. Operating environments in the region will be significantly affected over the next two years, with weaker domestic and international economies reducing growth prospects and increasing the risk of…
In continuation of ongoing assistance from the Government of India to fight against the COVID-19 Pandemic the High Commission handed over one consignment of medical gloves to the Government of Sri Lanka. Earlier on 7 & 8 April 2020, India gifted nearly 13 tonnes consignment of essential life-saving medicines to the Government of Sri Lanka….
The Central Bank of Sri Lanka observes that the current interest rates charged by licensed banks on pawning advances range from 12% – 17.5% per annum. Considering the necessity to provide relief to low income individuals who are pawning gold jewellery to meet their short-term financing needs due to the adverse economic situation resulting from…
The Information and Communication Technology Agency of Sri Lanka (ICTA) in collaboration with key Government Institutions launched a National Website for COVID -19 response www.covid19.gov.lk. This was developed considering the unprecedented situation in the Country due to COVID-19, and with the objective of providing information to the public through reliable sources that is accredited by…
Sri Lankan companies are announcing a wide range of cost-cutting measures to offset declining revenues and protect the cash balance during the economic slump related to the COVID-19 outbreak. According to several listed entities, which had disclosed the COVID-19 impact on their businesses stated that they had already decided to defer capital expenditure (Capex) and…
The Chamber Academy and the International Labour Organization (ILO) will be hosting a webinar on Wednesday (29th) from 10am to 11:45am, on the global picture and social protection measures that are needed to mitigate the impact of COVID-19 in the region. The session will be hosted by Ms. Sara Elder, Head of the Regional Economic…
The global economic shock of the COVID-19 pandemic has driven most commodity prices down and is expected to result in substantially lower prices over 2020, the World Bank said in its April Commodity Markets Outlook. Energy and metals commodities are the most affected by the sudden stop to economic activity and the serious global slowdown…
The Central Bank of Sri Lanka has approved Union Bank’s request to cease operations as a Primary Dealer. “The general public is hereby informed that having considered the request made by the Union Bank of Colombo PLC (UBC), the Monetary Board of the Central Bank of Sri Lanka has granted approval for UBC to cease its…
The Sri Lankan government categorically expressed disagreement with Fitch Ratings’ decision to downgrade the country’s rating to ‘B-‘ from ‘B’, citing the move as “ill-founded” and ill-timed.” “Their assessment shows rush to judgment and exposes prejudicial nature, at a time when the whole world is grappling with a global health crisis,” the Ministry of Finance…
Video Story
