According to the Central Bank of Sri Lanka (CBSL) the current buying rate of the US Dollar today (06) stands at Rs. 193.35 and selling rate of the US dollar stands at Rs. 199.40. The Sri Lankan rupee, which remained broadly stable in the month of January as well as until the first week of…
The coronavirus outbreak and the resultant prolonged business disruptions will put additional pressure on Sri Lankan finance and leasing companies’ (FLCs) earnings and asset quality, says Fitch Ratings. The ultimate economic and financial market implications of the outbreak are unclear, while Fitch considers the risks to NBFIs’ credit profiles to be clearly skewed to the…
CHEC Port City Colombo, today, donated surgical masks and gloves to the people carrying out daily duties at the Manning Wholesale Market in Pettah, which has been providing an essential service to the public during the COVID 19 outbreak. The company also handed over a large quantity of protective gear to the police force today….
Taking the lead in empowering the private sector during COVID-19, the Chamber Academy of the Ceylon Chamber of Commerce in collaboration with FITIS and LK Domain Registry, hosted a webinar for over a hundred participants, on how to successfully work from home (WFH). The webinar covered an introduction to working from home, and the communication…
DUBAI/RIYADH (Reuters) – Dubai imposed a two-week lockdown Saturday night and Saudi Arabia sealed off parts of the Red Sea city of Jeddah as Gulf states tightened measures in big cities to contain the spread of the coronavirus. Dubai had been under an overnight curfew along with the rest of United Arab Emirates since March…
During this time of crisis in our land, as well as globally, Sri Lanka’s apparel sector has taken up arms to equip our brave healthcare workers with the appropriate clothing as they serve in the frontlines of our battle against COVID-19. All apparel firms in association with the Joint Apparel Association Forum Sri Lanka (JAAFSL) are…
ASPI target cut to 5,000 by Jun 2020 & 6,000 by Dec 2020 1Q2020 Bond Yield Expectations extended to 1H2020 AWPR may fall beyond 5Yr Yield to below 9.0% amidst the lack of lending and may range between 9.0%-10.0% during 2H202 3Q-4Q2020 poses higher risk to SL with Sovereign Bond repayment and budget deficit financing…
The Monetary Board of the Central Bank of Sri Lanka, on 03 April 2020, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 25 basis points to 6.00 per cent and 7.00 per cent, respectively, effective from the close of business on 03…
The Sri Lankan rupee slipped further against the US dollar as financial markets around the globe continued to feel jitters of coronavirus pandemic. According to the Central Bank of Sri Lanka (CBSL) the current selling rate of the US Dollar today (03) stood at Rs. 193.75 and buying rate of the US dollar stood at…
A deep global recession in 2020 is now Fitch Ratings’ baseline forecast according to its latest update of its Global Economic Outlook (GEO) forecasts. “The speed with which the coronavirus pandemic is evolving has necessitated another round of huge cuts to our GDP forecasts. We now expect world economic activity to decline by 1.9% in…
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