Author: LBO Admin
Sri Lanka missions abroad seek to re-position exports to meet new market conditions
Foreign Secretary Ravinatha Aryasinha has observed that even as the Foreign Ministry was preoccupied with endeavouring to mitigate a multitude of problems faced by Overseas Sri Lankans, it was in parallel also seeking to re-position Sri Lanka’s exports in the context of market conditions that have arisen as a result of the COVID-19 crisis. He […]
Lifting curfews not the end of epidemic in any country: WHO
Apr 24, 2020 (LBO) – Lifting so-called lockdown restrictions or curfews are not the end of the epidemic in any country, the World Health Organization (WHO) said in their latest update. WHO insists that countries must ensure they can detect, test, isolate, and care for every case, and trace every contact. “This virus will be […]
Commodity prices to drop in 2020 as COVID-19 depresses demand & disrupts supply: WB
Apr 24, 2020 (LBO) – The global economic shock of the COVID-19 pandemic has driven most commodity prices down and is expected to result in substantially lower prices over 2020, the World Bank said in its April Commodity Markets Outlook. Energy and metals commodities are the most affected by the sudden stop to economic activity […]
‘s tourism industry
Kimarli Fernando, Vipula Gunatilleka, Sanath Ukwatte, Mahen Kariyawasam and Murtaza Jafferjee will discuss the impact of COVID-19 on Sri Lanka’s Tourism Industry. The discussion covered the current challenges faced by the tourism industry and route to recovery. Link to introductory presentation here: https://www.advocata.org/…/online-discussion-on-the-impact-…
SL appoints Presidential task force on economic revival and poverty eradication
Apr 23, 2020 (LBO) – President Gotabaya Rajapaksa has appointed a Presidential Task Force in charge of Economic Revival and Poverty Eradication. It has been established under the powers vested in the President by the Constitution. The Task Force is responsible for reviving the economy and eradication of poverty while paying special attention to the […]
‘s three-wheelers
Thisali de Silva and Nisha Arunatilake Sri Lanka has been under curfew since mid-March to contain the spread of COVID-19. As a result, economic activities throughout the country have stalled. A recent IPS blog identified that non-agricultural, informal workers were highly affected by this pandemic. This blog illustrates how the ongoing curfew is impacting three […]
Chair of SL Tourism requests banks and fin institutions to give full support to industry
Apr 23, 2020 (LBO) – Sri Lanka Tourism plans for an early revival post-COVID-19, as the country starts opening up gradually from this week. A major step was the Cabinet approval of the critical five-year global promotion initiative last week and plans are underway to finalize the Terms of Reference and appointment of the Procurement, […]
Toyota Lanka goes digital with Toyota Sure & improved Service App
Toyota Lanka (Pvt) Ltd, the sole authorized distributor for Toyota vehicles and genuine spare parts in Sri Lanka, recently launched a comprehensive website for Toyota Sure certified vehicles which are approved by Toyota Motor Corporation and exported to Sri Lanka. The “Toyota Sure” website will be a platform for interested buyers to purchase authorized used-Toyota […]
‘s headline inflation decreased in March
Apr 22, 2020 (LBO) – Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index has decreased to 7.0 percent in March 2020 from 8.1 percent in February 2020. As per the Statistics Department, this was driven by a monthly decrease in prices of the items in the Food […]
Sri Lankan consumer retail, construction, hotels most affected: Fitch Ratings
Apr 22, 2020 (LBO) – Fitch-rated Sri Lankan corporates in consumer goods retail, construction and hotels will be among the most affected by the coronavirus pandemic in Sri Lanka, says Fitch Ratings. Full statement Companies in consumer goods retail and construction-related activities also have lower rating headroom than in most other sectors. The ultimate impact […]
HSBC supports World Vision’s COVID-19 response
HSBC partnered with World Vision to provide dry ration packs to the most vulnerable families affected by the current emergency situation in the country, due to COVID-19. The project is being carried out as part of World Vision’s new match funding initiative ‘Every rupee you give is doubled’ – where the humanitarian organization will match […]