Category: Featured
PM MR sworn in as Minister of Community Empowerment, Estate Infrastructure Development
Jun 01, 2020 (LBO) – Prime Minister Mahinda Rajapaksa was sworn in as the new Cabinet Minister of Community Empowerment and Estate Infrastructure Development before President Gotabaya Rajapaksa at the Presidential Secretariat, today (01). With the demise of Minister Arumugam Thondaman, the ministerial portfolio fell vacant. Secretary to the President, P.B. Jayasundera was also present […]
ComBank raises another Rs.10Bn to support COVID-19 affected SME exporters
Jun 01, 2020 (LBO) – The Commercial Bank of Ceylon has announced the commitment of approximately Rs 10 billion to a Bank-funded COVID-19 Support Loan Scheme to assist affected SME enterprises. This assistance would be in addition to the working capital loans scheme implemented under a credit line provided by the Central Bank of Sri […]
PUCSL to resolve consumer complaints and address lube and electricity industry inquiries online
Jun 01, 2020 (LBO) – The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator and the shadow regulator of the lubricant industry is all set to resolve the electricity consumer complaints and address stakeholder issues via online and request the public and the stakeholders to use the online platforms to be connected […]
Dialog Axiata gifts fully-functional ICU at Negombo General Hospital to public
Jun 01, 2020 (LBO) – Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, in less than a month, concluded the immediate civil reconstruction and provision of equipment to establish a fully functional Intensive Care Unit (ICU) at the Negombo District General Hospital. This concludes the first step taken in the pledged Rs. 200 Million towards the urgently required […]
Reducing health costs and increasing Government revenue beyond COVID-19: Raising cigarette taxes
Harini Weerasekera and Chamini Thilanka The susceptibility of smokers to contract COVID-19 has been recognised by the World Health Organisation (WHO) and other medical authorities. In Sri Lanka, concerned parties have called for a temporary ban of cigarette sales as a measure to contain the spread of the virus – a commendable move. However, beyond […]
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 […]