Category: Featured
Opinion: Building a resilient food system in Sri Lanka in an age of pandemic
Manoj Thibbotuwawa 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 lockdown measures is one of the most critical. The 2020 Global Report on Food Crises highlights that […]
COVID-19: Human development on course to decline this year for first time since 1990
May 21, 2020 (LBO) – Global human development – which can be measured as a combination of the world’s education, health and living standards – could decline this year for the first time since the concept was introduced in 1990, the United Nations Development Programme (UNDP) said recently. “The world has seen many crises over […]
S&P lowers Sri Lanka’s credit rating to ‘B-’
May 21, 2020 (LBO) – Rating agency S&P has lowered Sri Lanka’s long-term sovereign credit rating to B- from B, with a stable outlook, citing the government’s worsening fiscal position. S&P expects the COVID-19 outbreak to push Sri Lanka’s economy into a recession in 2020, against earlier expectations of a rebound. This would weaken Sri […]
Opinion: Sri Lanka’s IT-BPM industry resilient in the face of COVID-19
SLASSCOM “Drifting the curve” is the SLASSCOM industry strategy for building momentum to come out of the “corner” (current situation) stronger. When race car drivers approach a bend on the track, unlike ordinary drivers who slow down, they accelerate. This is known as “drifting the curve.” It’s all about how much momentum you have when […]
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 […]
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 […]
COVID-19 economic impact could reach $USD 8.8TR globally: New ADB report
May 15, 2020 (LBO) – The global economy could suffer between $5.8 trillion and $8.8 trillion in losses—equivalent to 6.4% to 9.7% of global gross domestic product (GDP)—as a result of the novel coronavirus disease (COVID-19) pandemic, says a new report released by the Asian Development Bank (ADB) today. The report, Updated Assessment of the Potential […]
Local epidemiology should guide focused action in ‘new normal’ COVID-19 world: WHO
May 15, 2020 (LBO) – Amid rising cases of COVID-19 and as countries in WHO South-East Asia Region ease lockdowns in a graded manner, WHO today said careful assessment of local epidemiology should guide future actions to combat the virus. “Countries in the Region must continue to take evidence-informed action and conduct careful risk assessments […]
Guidelines on issuance and payment of power bills during Covid and immediately after
May 15, 2020 (LBO) – These guidelines include the interim measures suggested to be followed by Ceylon Electricity Board (CEB) and Lanka Electricity Company Pvt. Ltd (LECO) in order to facilitate the issuance of utility bills and to facilitate the Customer with additional services (if required) for the payment of bills during the curfew period […]