But says adequate capital buffers built over last 3 years to help withstand near term risks Says temporary restrictions on declaring cash dividends to help banks’ capitalisation levels in near term The adequate capital buffers built, specially during the last three years, will soften the negative impacts on the banking sector stemming from the new coronavirus-driven … [Read more...] about Daily Mirror – COVID-19 compounds stress on Sri Lankan banks: Fitch Ratings
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China-Sri Lanka Belt and Road political parties joint consultation mechanism established
* China-Sri Lanka Belt and Road political parties joint consultation mechanism established Fri, Jun 12, 2020, 07:47 pm SL Time, ColomboPage News Desk, Sri Lanka. June 12, Colombo: The China-Sri Lanka Belt and Road Political Parties Joint Consultation Mechanism between the Communist Party of China (CPC) and main political parties of Sri Lanka has been established on June … [Read more...] about China-Sri Lanka Belt and Road political parties joint consultation mechanism established
Daily Mirror – CB’s top researcher reveals how external agencies forecast doomsday scenarios
Central Bank’s top researcher recently revealed how external agencies, including that of the World Bank, International Monetary Fund (IMF) and rating agencies project doomsday scenarios for the Sri Lankan economy even when the country is rapidly returning to normalcy after the COVID-19 outbreak.Earlier this week the World Bank projected a deeper recession for the Sri … [Read more...] about Daily Mirror – CB’s top researcher reveals how external agencies forecast doomsday scenarios
Daily Mirror – Lankan gig economy lacks level playing field as foreign players not subject to local regulations and tax laws
The Sri Lankan gig platforms are at a disadvantage over their foreign counterparts, who have their operations here, as the former comes under regulatory scrutiny and local tax laws while the latter is not, says the Central Bank.While the issue has come under some scrutiny in the past, regulatory or policy redress did not come about either due to authorities’ … [Read more...] about Daily Mirror – Lankan gig economy lacks level playing field as foreign players not subject to local regulations and tax laws
Daily Mirror – President appeals for “unconditional” budget support from intl. lenders to revive economy
President Gotabaya Rajapaksa Says multilateral and bilateral official creditors have “special responsibility” to be innovative to create such space Stresses that leading agencies and leaders should act fast “without” placing conditionalities Tells intl. community such support will help restore confidence, re-energise growth and investments By Shabiya Ali … [Read more...] about Daily Mirror – President appeals for “unconditional” budget support from intl. lenders to revive economy
Sri Lanka : Chinese Banks providing support for Sri Lanka’s post COVID-19 economic recovery
* Chinese Banks providing support for Sri Lanka’s post COVID-19 economic recovery - Chargé d’affaires Wed, May 27, 2020, 10:20 am SL Time, ColomboPage News Desk, Sri Lanka. May 27, Colombo: Hu Wei, Chargé d’affaires of the Chinese Embassy in Sri Lanka has said that at a time Sri Lanka is faced with two “arduous tasks” of combating the COVID-19 epidemic and reviving the … [Read more...] about Sri Lanka : Chinese Banks providing support for Sri Lanka’s post COVID-19 economic recovery
Daily Mirror – New face of hunger: Building a resilient food system in Sri Lanka in an age of pandemic
COVID-19 is dealing an unprecedented blow to economies around the globe and the health risk is only the tip of the iceberg. Among the many impending crises resulting from the pandemic, rising food insecurity, due to the lockdown measures, is one of the most critical. The 2020 Global Report on Food Crises highlights that the pandemic is likely to limit access to … [Read more...] about Daily Mirror – New face of hunger: Building a resilient food system in Sri Lanka in an age of pandemic
Former President says elections should be held as soon as possible in accordance with health instructions
* Former President says elections should be held as soon as possible in accordance with health instructions Wed, May 20, 2020, 11:59 am SL Time, ColomboPage News Desk, Sri Lanka. May 20, Colombo: Former President and Leader of the Sri Lanka Freedom party (SLFP) President Maithripala Sirisena says it is imperative to hold a general election as soon as possible under the advice … [Read more...] about Former President says elections should be held as soon as possible in accordance with health instructions
Former Prime Minister calls on government to launch a long-term program to rebuild collapsed economy
* Former Prime Minister calls on government to launch a long-term program to rebuild collapsed economy Tue, May 19, 2020, 08:35 am SL Time, ColomboPage News Desk, Sri Lanka. May 19, Colombo: Leader of the United National Party (UNP) and former Prime Minister Ranil Wickremesinghe has called on the government to launch a long-term program to safeguard the sectors of the local … [Read more...] about Former Prime Minister calls on government to launch a long-term program to rebuild collapsed economy
Daily Mirror – Sampath Bank 1Q20 indicates economy was gathering steam before pandemic
Sampath Bank’s interim results released for the March quarter (1Q20) showed that the economy was gathering steam from the lower interest rates and tax cuts, as the loans had begun to rise and earnings got a boost before it hit a wall when the country went to lockdown to prevent the spread of China-originated COVID-19. Sampath Bank, the third largest private lender by … [Read more...] about Daily Mirror – Sampath Bank 1Q20 indicates economy was gathering steam before pandemic
