WASHINGTON (Reuters) – World Bank Group President David Malpass on Monday said that the development lender could deploy as much as $150 billion in resources over the next 15 months to help developing countries fight and recover from the coronavirus pandemic. Malpass, in a statement to G20 finance ministers and central bank governors released by…
President Gotabaya Rajapaksa has announced several relief measures which will be granted to the general public who have been affected by the outbreak of Coronavirus in the country. All relief measures will come into effect from Monday (23), the President’s Media Division said. The President has ordered the Governor of the Central Bank of Sri…
Several banks have revised their operating times and suspended non-essential banking services because of the rising novel coronavirus (COVID-19) cases in Sri Lanka. Banking services like passbook updates, counter cheque collections have been restricted as the banks promote social distancing. Many banks have also requested users to avoid visits to branches and go digital with…
New guidelines and opening hours have been brought into force by retail outlets including supermarkets across Sri Lanka as they battle to keep shelves stocked, get food and supplies to everyone who needs them and ensure the safety of customers and staff when the island-wide curfew imposed by the government is lifted at 6.00 am tomorrow (24). The…
(Reuters) – Goldman Sachs said it expected global real gross domestic product to contract by about 1% in 2020, a sharper economic decline than in the year following the 2008 global financial crisis. Global governments have been taking unprecedented measures to contain the coronavirus outbreak which is threatening to spark a worldwide economic contraction. “The…
President Gotabaya Rajapaksa pledged to contribute US$5 million to the SAARC Corona Emergency Fund. In a video conference on forming a joint strategy to fight COVID-19 in the SAARC region, Indian Prime Minister Modi on March 15 proposed the emergency fund with an initial offer of $10 million from India and asserted that the best…
Sri Lanka Cricket (SLC) has taken a decision to grant a sum of LKR 25 million to the Government to help its efforts toward combating the Covid-19 pandemic, which has created a national health crisis. Accordingly, the grant will be handed over to the Government immediately. Sri Lanka Cricket, whilst understanding the gravity of the…
Halting trading of the market due to an extreme decline in a particular index during the day, as a result of the share prices falling rapidly, is a measure that is implemented by stock markets around the world. Trading Halts triggered by circuit breakers, were a common occurrence during the recent weeks and continue to be so in stock markets globally,…
Fitch Ratings has revised the outlook for a further 10 APAC banking systems to negative, meaning that all 17 banking systems in the region are now assessed as having a negative sector outlook. This highlights our expectation that the global coronavirus pandemic will have wide-ranging effects on the region that will adversely affect bank performance…
Emirates retains cargo operations, but temporarily suspends most passenger operations by 25 March dnata significantly reduces operations, including temporary closure of operations at some international locations where demand is low Group implements basic salary reduction for majority of employees for three months, will not cut jobs Supports government measures to safeguard community health Dubai, United…
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