Payments through OIAs suspended for 3 months
The government has taken steps to suspend Sri Lankan residents from making payments through Outdraw Investment Accounts (OIA) for overseas investments for a period of three months. Prime Minister Mahinda Rajapaksa, in his capacity as the Minister of Finance, Economic…
UN foresees global economy to contract 0.9% in 2020
UN (AP) – The global economy could shrink almost 1% this year due to the new coronavirus, a sharp reversal from the pre-pandemic forecast of 2.5% growth, the United Nations said Wednesday. The U.N. Department of Economic and Social Affairs…
Inflation declines to 5.4% in March 2020
Sri Lanka’s inflation, as measured by the change in the Colombo Consumers’ Price Index (CCPI), declined to 5.4% in March 2020 from 6.2% in February 2020, the Central Bank reported. This was due to the decline in the prices of…
Shipping industry urges G20 to keep freight flowing as virus hits supply chains
Ships and their crews must be able to trade freely with minimal port restrictions to ensure supply lines don’t freeze up while the coronavirus shuts down much of the globe, shipping and port officials said on Tuesday.After draconian steps to…
Sri Lankaβs Commercial Bank says ready to help customers worst hit by COVID-19
Commercial Bank of Ceylon, Sri Lankaβs largest private lender is ready to support borrowers whose cashflows would be hit in a worse than average disruption from the COVID-19 Coronavirus pandemic, a top official said. President Gotabaya Rajapaksa had called on…
Billionaire Dhammika Perera donates Rs.70mn to combat COVID-19
As the number of confirmed COVID-19 coronavirus cases continues to rise, something else is starting to happen around the world β entrepreneurs, businesses and multimillionaire philanthropists are pledging their support. Sri Lankan Billionaire Dhammika Perera has also joined this battle…