Economic

The Colombo Stock Exchange (CSE) has requested all listed companies to disclose their respective impact from the novel coronavirus (COVID-19) pandemic.

දින නියමයක් නොමැතිව වසා දැමුණු දඹුල්ල විශේෂිත ආර්ථික මධ්‍යස්ථානය අද (19) විවෘත කෙරුණා. ඒ අනුව පෙරවරු 6.00 සිට පස්වරු 6.00 දක්වා දිනපතා විවෘතව තැබීමට තීරණය කර තිබෙනවා.

Manning market in Colombo is to remain closed for another one week.

Govt. says effort to reduce impact on reserves
Bandula confident if more forex flows into rupee, it could appreciate to Rs.185

හෙල්දිෆ්ලා -Healthyfla සමාගමේ පර්යේෂණ අංශය විසින් සහල් පිටි පාන් සැදීමේ ක්‍රමය මුල් වරට ප්‍රකාශයට පත්කර ඇත.

Reduction from 15% to 10%
Says Bank Rate will be allowed to automatically adjust in line with lending rates within 300 bps margin
Latest effort to counter COVID-19 and keep economy ticking

Interesting insights to locals’ anxieties, coping mechanism and rating of Govt.’s COVID-19 mitigating measures in pro bono survey by PepperCube

දඹුල්ල විශේෂිත ආර්ථික මධ්‍යස්ථානය හෙට සිට යළි විවෘත කරන බව අමාත්‍ය ජනක බණ්ඩාර තෙන්නකෝන් මහතා සඳහන් කළේය.

The Board of Investment said yesterday that approved companies can gradually recommence operations whilst strictly adhering to Ministry of Health guidelines.

Tea prices have risen to record high at the recently held first eAuction, according to John Keells Ltd.

The President’s Media Office yesterday said the rupee is stabilising if not appreciating after its sharp fall last week.

SANASA General Insurance Company Ltd, together with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, recently launched iFarm, a simple and secure online insurance platform to support the local farming community.

The Insurance Regulatory Commission of Sri Lanka (IRCSL) is providing relief measures to insurance policyholders in line with a direction by the President to grant appropriate relief to businesses and individuals who are adversely affected by the current COVID-19 pandemic.

The National Sales Average (NSA) of Tea for March and exports in February saw mixed sentiments, according to broker Forbes and Walker.

The Monetary Board of the Central Bank, at its meeting held on 15 April 2020, having observed the cumulative reduction of the key policy interest rates of the Central Bank, namely the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR), by 200 basis points each since 31 May 2019,
It has decided to allow the Bank Rate to automatically adjust in line with the SLFR, with a margin of +300 basis points.

Close on the heels of the COVID-19 pandemic, around 500,000 workers of 800 apparel factories in and outside Free Trade Zones (FTZ) are facing the threat of nonpayment of their wages as the brand order cancellations continue to haunt employers.

Says shared vision with private and public sector coordination will accelerate recovery
Lists out critical aspects, including livelihoods, working with multilateral organisations and stimulus funding
Targets U-shaped economic recovery where SL returns to growth in 6-8 months
Calls for Govt. to commit 2.5-3% of GDP to recovery over 1 year

Sri Lanka real estate and apartment developers who were already facing difficulties had got into further trouble after Covid -19 outbreaks, industry sources said.