Rupee remains under pressure. Selling rate of US $ recorded at Rs. 191.99

The Sri Lankan rupee continues to trade weaker on back of COVID-19 pandemic effect which has led to a shutdown of financial activities across the country.

According to the daily exchange report of the Central Bank of Sri Lanka (CBSL), the buying rate of a US dollar stood at Rs.187.10 today (27) whilst selling rate of a US dollar stood at Rs.191.99.

This is not goodbye: Emirates ground crews give an emotional send-off to last flights

Emirates ground crews around the world have bid farewell to their last operating flights back to Dubai. EK 005 to London Heathrow, which departed at 1605hrs on 24 March was the last flight to take off from Dubai. EK 262 from Sao Paulo, which landed at 2235hrs (local time) was the last flight to arrive on 25 March into Dubai.

World Bank, IMF urge debt relief for poorest countries

WASHINGTON (Reuters) - The World Bank and the International Monetary Fund on Wednesday urged official bilateral creditors to provide immediate debt relief to the world’s poorest countries as they grapple with severe consequences of the rapidly spreading coronavirus.

Dow Jones Records Largest One-Day Gain Since 1933 as Stocks Surge

Stocks surged on Tuesday as the Dow recorded its largest one-day gain since 1933, driven by expectations of an economic stimulus package from Congress to offset the effects of the Wuhan coronavirus pandemic.

COVID-19 Pandemic: Biz sector responds positively

Over the last few days the Sri Lankan business community has taken major initiatives to transform the way they do business and also to support authorities through donations in a responsive effort to face the current challenges following the Coronavirus pandemic.

The Emirates Group’s business response to COVID-19

The airline has aimed to maintain passenger flights for as long as feasible to help travellers return home amidst an increasing number of travel bans, restrictions, and country lockdowns across the world. It continues to maintain vital international air cargo links for economies and communities, deploying its fleet of 777 freighters for the transport of essential goods including medical supplies across the world.

Facilitation Centre initiated by the Industry to assist Departing Passengers at the BIA

Sri Lanka Tourism Industry has initiated a 24/7 Facilitation Centre to assist Tourists, especially departing passengers in their travel queries, Hotel Accommodation issues, and to provide any information at this difficult situation of the Corona Virus (COVID -19) which has made a devastating impact globally, killing over 8000 worldwide.

CBSL instructs Finance companies to offer facilities to SME

The Department of Supervision of Non Bank Financial Institutions of Central Bank of Sri Lanka has issued a circular to Licensed Finance companies and specialized Leasing Companies to extend special credit support scheme to eligible Small and Medium Enterprise customers.

Decision of the SEC in response to the holidays declared by the Government consequent to the COVID 19 Pandemic

The Securities and Exchange Commission of Sri Lanka (SEC) this morning (19th Mar 2020)  had a meeting with the Board of Directors of the Colombo Stock Exchange (CSE) and the President of the Colombo Stock Brokers Association (CSBA) in order to obtain their views with regard to the functioning of the stock market in the light of the Government’s decision to  declare public holidays in order to curb the spread of the COVID 19 Pandemic.

Moody’s revised 2020 forecasts highlight no growth in Japan and Singapore, slower growth in China

Risks for APAC firmly tilted to the downside, including from much weaker European and American economies than currently assumed
Forecast of 4.8% growth for China assumes slow resumption of economic activity and weak export demand