Economic
Speculation over fears of a second wave of COVID-19 dragged down sentiments at the Colombo stock market with both indices declining but turnover was relatively high.
Largest private sector player in the industry, Commercial Bank’s support by way of moratorium for COVID-19-hit customers has topped the Rs. 300 billion mark, in addition to extending short and medium financial assistance to SMEs and exporters.
The Central Bank of Sri Lanka defended its money printing and stated that the bank has the necessary instruments to mop up excess liquidity if the need arises.
The Committee appointed to probe into finance and leasing company irregularities and illegal activities has identified that the activities of this sector mainly revolve around ten main areas.
These areas included problems related to the recovery of possession of equipment, abuse of the terms and conditions in the finance lease agreements entered into Communications Department between the lessor and the lessee, as well as certain loopholes in the provisions of the Finance Leasing Act, No. 56 of 2000.
The Colombo stock market saw welcome rebound though less convincing but turnover remained healthy at over Rs. 1 billion amidst net foreign selling.
ජාතික ගමනාගමන කොමිසම විසින් මගී ජනතාවට ප්රවාහණ පහසුකම් ලබා ගැනීමේ ක්රමවේදය නව තාක්ෂණය යටතේ සිදු කර ගැනීමට අවස්ථාවන් ලබා දීම පුලුල් කරමින් ජංගම දුරකථන යෙදවුමක් හඳුන්වා
දෙනු ලැබීය.
One of the leading media giants in the world, the BBC recently extended its valuable support to Sri Lanka Tourism during the challenging time of COVID-19 by entering into a no-cost partnership with the Sri Lanka Tourism Promotion Bureau (SLTPB) through a comprehensive advertising campaign.
Fiscal operations of the Government in the first four months of this year have showed a mixed performance even before the impact of COVID-19, though the Treasury attributes this to the decline in revenue mobilisation stemming from the outbreak in mid-March 2020 and the reduction of Government expenditure.
Putting its main focus on ensuring a growth rebound in the second half, the Central Bank yesterday reduced rates by 100 basis points and called on banks to ensure the market rates are slashed rapidly, to boost consumption and keep the economy on target to achieve 1% to 1.5% growth in 2020.
The Colombo stock market remained positive for the second consecutive day amidst improved turnover.
The cost of imports into the country have, for the first time in decades, dropped below export earnings in June 2020 leading to a rare trade surplus, President Gotabaya Rajapaksa informed the Cabinet this week.
The Export Development Board (EDB) opines the recent downgrading of Sri Lanka to a lower-middle income country by the World Bank could be a blessing in disguise to secure preferential access to key
The recently approved amendments to the listing rules of the Colombo Stock Exchange (CSE) by the Securities and Exchange Commission of Sri Lanka (SEC) will enable shareholders to receive dividends declared by listed companies much faster.
People’s Bank is currently negotiating to raise around $ 300 million in long-term funding from multiple institutional sources abroad to boost its resource base to help customers, especially SMEs and women.
මූල්ය සහ ලීසිං සමාගම්වල සිදු වූ අක්රමිකතා සම්බන්ධයෙන් සොයා බැලීම සඳහා පත්කළ ති්රපුද්ගල කමිටුවේ වාර්තාව අද (07) මහබැංකු අධිපති මහාචාර්ය ඩබ්ලිව්. ඞී. ලක්ෂ්මන් වෙත භාරදීමට නියමිතව තිබෙනවා.
The Central Bank yesterday said it has approved more than Rs. 53 billion worth of working capital loans to more than 20,000 businesses at a concessional rate of 4% per annum as part of its efforts to help COVID-19 affected companies under a Rs. 150 billion support scheme.
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