Central Bank suspends business of ETI Finance & Swarnamahal Financial Services
Jul 13, 2020 (LBO) – The Monetary Board (MB) of the Central Bank has decided to suspend the business activities of ETI Finance Ltd (ETIF) and Swarnamahal …
Companies
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COVID-19 reshaping Sri Lanka’s real estate market: Prime Group
Jul 13, 2020 (LBO) - Sri Lanka’s residential apartment sales has been seeing renewed interest since January 2020 and post COVID -19 as well following a lull …
SL vehicle registrations upon preference for private vehicles for fear of COVID – 19 infection
Jul 13, 2020 (LBO) - In most categories there was a dramatic rebound to pre COVID19 levels, pent up demand, expectations of a stock out of dealer inventory and …
Senkadagala Finance receives USD 25mn facility from a Dutch development bank
Jul 10, 2020 (LBO) – Senkadagala Finance recently announced that it received a US $25 million 5 Year Green Investment Facility from Nederlandse …
Opinion: The myth: Self-sufficiency guarantees food security
By Sathya Karunarathne The novel coronavirus which drove cities and countries into lockdown has now sparked anxiety over a possible food crisis given the …
Refurbished CBD business centre in Col-01 is now available for rent
Jul 10, 2020 (LBO) - Cargo Boat Development Company PLC (CBD) - an associate company of the Renuka Hotels Group - has completed the refurbishment of its …
Extension of import controls further batters Sri Lankan economy: Advocata
According to the Extraordinary Gazette No 2182/10 of June 2020, import controls imposed by the earlier gazette Number 2176/19 of 22 May 2020 have been extended …
Sri Lanka tea average up in June 2020
Jul 09, 2020 (LBO) - Sri Lanka's national tea average for the month of June 2020 totalled Rs. 612.67 vis-à-vis Rs. 697.57 of May 2020, which was the highest …
Committee makes proposals to address irregularities in finance leasing businesses
Jul 08, 2020 (LBO) – The Committee appointed to examine irregularities and illegal activities of the leasing business, recommends short term and long term …
Sri Lanka’s Central Bank to develop Blockchain Technology based KYC Proof of Concept
Jul 07, 2020 (LBO) – Sri Lanka's Central Bank has entered into agreements to begin the process of developing a Blockchain Technology Based Shared …
ComBank ‘Arunella’ brings multiple COVID-19 relief initiatives to customers
As its commitments to providing relief to businesses affected by the COVID-19 pandemic continue to grow exponentially, the Commercial Bank of Ceylon has …
No change in interest rate paid to senior citizen’s deposits: Finance Ministry
Jul 07, 2020 (LBO) – Sri Lanka's Finance Ministry says that there has been no change in the interest rate paid on senior citizen's deposits and the interest …
Sri Lanka’s leading corporates believe ‘work from home’ is here to stay
Jul 07, 2020 (LBO) – It’s hard to draw positives from a global crisis such as COVID-19, one that has taken hundreds of thousands of lives and impacted …
Tourism Ministry and SLTDA to provide relief to industry stakeholders
Jul 06, 2020 (LBO) - To sustain the lives of employees directly involved in the tourism industry and linked to establishments registered with the Sri Lanka …
Opinion: Import controls – out of control?
By Erandi de Silva As the COVID-19 virus forced much of the world into lockdown, the scale of interdependence and reliance on trade across nations was apparent …
Central Bank approved Rs.53Bn for 20,240 COVID-19 affected businesses
Jul 06, 2020 (LBO) - The Central Bank, in consultation with the Government of Sri Lanka, has introduced the Saubagya Covid-19 Renaissance Loan Scheme to …
Foreign Minister outlines Sri Lanka’s digital responses to COVID -19
Jul 06, 2020 (LBO) - The leadership of President Gotabaya Rajapaksa and the effective use of technology in a whole – of – government approach has enabled …
Fitch affirms National Ratings of 4 finance companies; one on rating watch positive
Jul 03, 2020 (LBO) – Fitch Ratings has affirmed the National Long-Term Ratings of four Sri Lankan finance and leasing companies. -AMW Capital Leasing And …
Sri Lanka inflation marginally down in June 2020
Jul 02, 2020 (LBO) - The year on year inflation as measured by the Colombo Consumer Price Index (CCPI) is 3.9 percent in June 2020 and inflation calculated …
Sarvodaya Development Finance records a profit growth of 147-pct in 2019-20
Jun 30, 2020 (LBO) – Sarvodaya Development Finance (SDF), the financial services arm of the Sarvodaya Movement, sailed through the turbulent 2019-20 …