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‘s Cinnamon Life construction resumes
May 18, 2020 (LBO) – Colombo’s iconic landmark and the single, largest, private mixed development investment in Sri Lanka, Cinnamon Life by the John Keells Group, has resumed construction after a lockdown since March 2020. Cinnamon Life, the iconic 4.5 Million sq. ft integrated mixed-use development, is a city within a city, and is envisioned […]
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May 18, 2020 (LBO) – The G-20 debt suspension initiative is unlikely to ease the significant credit challenges that the coronavirus pandemic has amplified in some frontier market sovereigns, Moody’s Investors Service said in a report today. QUOTES FROM MOODY’S SECTOR IN-DEPTH REPORT We rate 34 out of the 76 IDA-eligible countries, to which we […]
Sri Lanka official reserves at USD 7.9Bn at end Feb 2020
May 18, 2020 (LBO) – Sri Lanka’s gross official reserves stood at 7.9 billion dollars at end February 2020, equivalent to 4.7 months of imports, the Central Bank said. Total foreign assets, which consist of gross official reserves and foreign assets of the banking sector, amounted to 10.9 billion dollars at end February 2020, equivalent […]
Sri Lanka trade deficit shrinks in Feb 2020
May 18, 2020 (LBO) – The deficit in Sri Lanka’s trade account widened in February 2020 to 574 million dollars, from 451 million dollars in February 2019, as the increase in imports surpassed the increase in exports. However, on a month on month basis, the trade deficit in February 2020 recorded a contraction. On a […]
Repatriation and replacement of lost foreign jobs: Handling labour migration during COVID-19
Bilesha Weeraratne Sri Lanka, which has been sending workers abroad for employment for decades, is now faced with the formidable challenge of repatriating large numbers of migrant workers affected by COVID-19. Having successfully brought back students from China, UK, Australia, and South Asia and pilgrims from India, the authorities are now making plans to repatriate […]
Over 38,000 Sri Lankans in 143 countries seek to return home
May 18, 2020 (LBO) – Over 38,983 Overseas Sri Lankans (OSLs) in 143 countries at present seek to return home, based on information gathered mainly through the ‘Contact Sri Lanka’ Web Portal of the Ministry of Foreign Relations. This comprises 3,078 students, 4,040 short term visa holders, 27,854 Migrant workers, 3527 dependents and 484 duel […]
Colombo Chamber wants pre-shipment collateral-free loans to boost exports
May 17, 2020 (LBO) – Colombo Chamber of Commerce appeals to the President for intervention to instruct banks to support the SME and MSME exporters with pre-shipment collateral-free loans up to 75% of the value of export order with a maximum cap of Rs 5 million based on actual export orders and firm contracts. Addressing […]
SL demands retraction of London Guardian Travel Quiz with reference to “Eelam”
May 16, 2020 (LBO) – The attention of Sri Lanka’s Ministry of Foreign Relations has been drawn to a quiz titled “Travel quiz: do you know your islands, Man Friday?” published on the web edition of The Guardian newspaper in the United Kingdom on Friday, 15 May 2020. The second question reads – Eelam is […]
VIDEO: Coronavirus Herd Immunity – Explained
The world has been put on hold by the Coronavirus Pandemic and until we find a vaccine, we all need to stick to the social distancing, but you may have heard about Herd Immunity, and we are here to explain it in today’s new video. Could this be a real way to overcome Covid-19? Watch […]
We cannot allow irrational laws to impede our economy: President
May 15, 2020 (LBO) – President Gotabaya Rajapaksa said that irrational laws should not obstruct the policies formulated to achieve the economic objectives of the people. The President stated this during a discussion with officials and ministry secretaries attached to the Plantation Industry sector at the Presidential Secretariat on May 14.The meeting was called to […]