Bloomberg – Abbott Laboratories is unveiling a coronavirus test that can tell if someone is infected in as little as 5 minutes, and is so small and portable it can be used in almost any health-care setting. The medical-device maker plans to supply 50,000 tests a day starting April 1, said John Frels, vice president of…
1. Introduction The Central Bank of Sri Lanka has decided to set up the above Re-financing Facility in order to implement the decisions taken by the Cabinet of Ministers on 20.03.2020 to introduce a wide range of fiscal and financial concessions for COVID-19 hit business activities including self-employment businesses and individuals. Among these concessions are…
The Sri Lankan rupee continues to trade weaker on back of COVID-19 pandemic effect which has led to a shutdown of financial activities across the country. According to the daily exchange report of the Central Bank of Sri Lanka (CBSL), the buying rate of a US dollar stood at Rs.187.10 today (27) whilst selling rate…
More relief to continue operations at Ports President Gotabaya Rajapaksa has instructed the Sri Lanka Ports Authority (SLPA) to immediately provide necessary facilities to ships calling at Ports in the country during the curfew period. Accordingly, the Chairman of SLPA General (Rtd) Daya Rathnayake said all ships have been exempted from demurrage and entry charges….
Asian equities rallied again and the dollar extended losses Friday, with traders buoyed by government and central bank pledges to prop up the global economy as the coronavirus sends countries into lockdown. Despite the painful toll the disease is inflicting on lives and economies, markets are on course to end the week with healthy gains…
Fitch Ratings has revised Sri Lanka’s banking sector outlook for 2020 to negative as the coronavirus pandemic poses increased risks to the anticipated expansion in the economy and credit demand, which will adversely affect the performance of the banks. Operating conditions are more challenging, affecting asset quality and profitability recovery. This will add to rating…
As per the directions issued by the Presidential Secretariat on March 23, 2020, Value added tax (VAT) payments due from corporations for the months of February and March 2020 has been extended up to April 30,2020, the Department of Inland Revenue said. Accordingly, payments made on or before April 30, 2020 for above periods shall be deemed as payments…
Reuters – The Dow Jones Industrial Average .DJI wrapped up its strongest three days in nine decades on Thursday as record weekly U.S. jobless claims came in below investors’ worst fears and the focus stayed on an unprecedented $2 trillion stimulus awaiting approval by the U.S. House of Representatives. The Dow finished up 21% from its Monday…
President Gotabaya Rajapaksa has included the Central Bank of Sri Lanka, commercial banks, insurances services and the Treasury in the category of essential services. Health, security, police, goods distribution, customs, electricity, water, and fuel supply services are the other services declared as essential. Accordingly, the Secretary to the President Dr. P. B. Jayasundara today issued…
Emirates ground crews around the world have bid farewell to their last operating flights back to Dubai. EK 005 to London Heathrow, which departed at 1605hrs on 24 March was the last flight to take off from Dubai. EK 262 from Sao Paulo, which landed at 2235hrs (local time) was the last flight to arrive…
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