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Urgent media statement from SriLankan Airlines

Further to certain news reports that a SriLankan Airlines First Officer has been tested positive for coronavirus, the Airline wishes to clarify and place on record the below. The First Officer concerned has operated his last lay-over flight to Singapore on February 28,2020 and thereafter all the flights he operated have been turnaround flights. Upon…

(0)Comments | March 17, 2020 12:04 am

Malaysia in Lockdown as Cases Jump to Most in Southeast Asia

Bloomberg – Malaysia is restricting people’s movement nationwide to limit the spread of the coronavirus. The country is banning all visitors, and residents are barred from traveling overseas while places of worship, schools and business premises will be shut except for markets that supply daily needs, Prime Minister Muhyiddin Yassin said in a televised address…

(0)Comments | March 16, 2020 8:45 pm

CBSL Eases Monetary Policy Further to Support Economic Activity amidst the Spread of the COVID-19 Pandemic

The Monetary Board of the Central Bank of Sri Lanka, at an urgent meeting to review its monetary policy stance on 16 March 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 6.25 per cent and 7.25 per…

(0)Comments | March 16, 2020 2:44 pm

Federal Reserve cuts rates to zero to support the economy during the coronavirus pandemic

New York (CNN Business) – In a bold, emergency action to support the economy during the coronavirus pandemic, the Federal Reserve on Sunday announced it would cut its target interest rate near zero. The swifter-than-expected rate cut is designed to prevent the kind of credit crunch and financial market disruptions that occurred the last time…

(0)Comments | March 16, 2020 10:39 am

RPCs commit to increase monthly earnings to Rs. 25,000 with productivity link, Unions yet to agree

Breaking its silence on deadlocked proposals around estate sector wages, The Planters’ Association of Ceylon issued a statement clarifying its position on stalled negotiations that commenced on the directive of the Government on January 14 2020. In deference to this presidential directive, CEOs and other officials representing the 21 Regional Plantation Companies (RPC) met with…

(0)Comments | March 16, 2020 10:30 am

Saudi Fund extends credit to Oceanpick Pvt Ltd to import feed material to Sri Lanka

Oceanpick Pvt Ltd., South Asia’s inaugural project for oceanic farming based in Trincomalee, Sri Lanka, entered into an agreement to receive import credit from Saudi Export Program of the Saudi Fund for Development on 5th March 2020, at the Ceylon Chamber of Commerce. The Saudi Fund for Development (SFD), established in 1975, is a 100%…

(0)Comments | March 16, 2020 10:25 am

Market Holiday on 16th Monday

In view of the Government declaring Monday, 16th March 2020 a public, bank and mercantile holiday, the Colombo Stock Exchange has declared 16th March 2020 as a market holiday. Accordingly, the market will be closed on 16th March 2020.

(0)Comments | March 15, 2020 2:50 pm

Sri Lanka’s stocks plunge, ASPI drops below 5,000 points since July 2012

Sri Lanka’s stock market crashed on Friday (13) as panic gripping world financial markets deepened. Sri Lanka’s only Capital Market All Share Price Index (ASPI)  crashed down by 2.89% of 144.82 points to 4,874.73, dipping below the psychological 5,000 points. The index last hit lowest before today is on 24 July 2012. Meanwhile, the S & P SL20 closed at 87.72 points, closing…

(0)Comments | March 13, 2020 6:02 pm

Retailers urge shoppers to stay calm and not to panic unnecessarily

Urging the public to remain calm and not to panic unnecessarily, JKH Retail Sector President assured that despite the global impact of the coronavirus outbreak, there is no shortage in the availability of products in the country. This comes after consumer sentiment marginally tilted towards staying well-stocked for a number of reasons, which include preparations…

(0)Comments | March 13, 2020 5:23 pm

COVID-19 triggers panic selling on stock market and panic buying at supermarkets

In one corner shoppers are emptying shelves as fears grow over the spread of coronavirus and in another corner the stock market is under pressure following tracking global peers, Ada Derena has observed. The government yesterday (12) announced that schools, tuition classes and religious education institutes are closed until April after two Sri Lankans were…

(0)Comments | March 13, 2020 2:04 pm