Risks for APAC firmly tilted to the downside, including from much weaker European and American economies than currently assumed Forecast of 4.8% growth for China assumes slow resumption of economic activity and weak export demand Moody’s Investors Service has revised its forecasts for most APAC economies on coronavirus implications, incorporating ongoing travel restrictions and heightened…
In view of the Government declaring a special public holiday for three (3) days effective from 17th March 2020 and requesting the private sector to follow suit, except for maintaining essential services which have been specified, and also considering the other preventive steps that have been taken by the Government today, the Colombo Stock Exchange…
SriLankan Airlines categorically refutes the contents of certain social media posts that are currently being circulated with regard to a flight operated from London to Colombo. The Airline would like to emphasize that the posts that state the Airline had facilitated a VIP flight to bring down stranded siblings of VIPs, is completely untrue and…
The Central Bank of Sri Lanka (CBSL) wishes to inform that the following measures have been adopted by CBSL during the public holiday period announced by the Government. REAL TIME GROSS SETTLEMENT OPERATIONS The Real Time Gross Settlement (RTGS) operations will be continued as usual. BANKING SECTOR OPERATIONS Banks have been advised to…
The Central Bank requested financial institutions to not speculate and cause panic in the financial markets while passing on the benefits of lower lending rates after the bank decided to reduce policy interest rates by 25 basis points and the Statutory Reserve Ratio by 1.00 percentage point as a proactive measure to urgently support economic…
Hemas Sharpens Its Focus by Restructuring Its Shareholdings in the Travel & Aviation Sectors Hemtours (Private) Limited, a 100% owned sub-subsidiary of Hemas Holdings PLC (HHL), has divested 80.1% stake in its Forbes Leisure Services (Private) Limited to Acorn Partners (Pvt)) Ltd, on March 13,2020 at a total consideration of Rs. 201 million, according to a stock…
In view of the Government declaring a special public holiday for three (3) days effective from today (17th March 2020), the Colombo Stock Exchange has declared Tuesday, 17th March 2020 as a market holiday.Accordingly, the market will be closed today. This is to minimize public interactions in curbing the spread of COVID-19 and to ensure…
CNBC- The International Monetary Fund on Monday said it “stands ready” to use its $1 trillion lending capacity to help countries around the world that are struggling with the humanitarian and economic impact of the novel coronavirus. “As a first line of defense, the Fund can deploy its flexible and rapid-disbursing emergency response toolkit to help countries…
The Asian Development Bank (ADB) has allocated a $600,000 grant from the Health System Enhancement Project to the Government of Sri Lanka to finance preventive and response efforts to fight a potential novel coronavirus (COVID-19) outbreak in the country. The global public health emergency, which has now been characterized by the World Health Organization as…
Tighter regulation in Sri Lanka on classification and measurement of credit facilities for finance and leasing companies (FLCs) will accelerate recognition of bad loans in 2020-2022, which is likely to exert pressure on FLCs’ capitalisation due to the knock-on effects on their profitability, Fitch Ratings says. Nonetheless, the more stringent norm will strengthen reporting standards…
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