Category: General Services
EDB supports exporters to continue operations during travel restrictions in Sri Lanka
The Sri Lanka Export Development Board (EDB) has made arrangements to facilitate export-oriented industries based on the circulars issued by the Government Health Authorities to continue operations of their activities during the lockdown of specific areas in the country and inter-provincial travel restrictions subject to stringent health regulations. Although travelling between provinces is restricted from […]
Hambantota Port sees highest monthly RORO volume in April
The Hambantota International Port has seen a significant increase in their RORO figures during the first 4 months of 2021, compared to the corresponding period last year. The first 4 months of this year saw 193,690 vehicles come into the port for transshipment as against 118,872 vehicles during the same period last year. 62,736 vehicles […]
Widespread informality likely to slow recovery from COVID-19 in developing economies
A strikingly large percentage of workers and firms operate outside the line of sight of governments in emerging market and developing economies (EMDEs)—a challenge that is likely to hold back the recovery in these economies unless governments adopt a comprehensive set of policies to address the drawbacks of the informal sector, a new World Bank […]
EU ‘Farm to Fork’ Strategy: Guidance towards more sustainable and resilient farming and food systems
Ensuring sustainable food security is a vital element of Sri Lanka’s agriculture sector and the country’s economy at large. The COVID-19 pandemic has highlighted the importance of a robust and resilient food system that can function in all circumstances and can ensure access to a sufficient supply of affordable food for all. The current pandemic […]
Sri Lanka needs resilient logistics system: World Bank
By Winnie Wang , Senior Transport Specialist, World Bank Logistics carry dreams. Back in 2007, when I applied to graduate schools in the United States, nothing could beat the excitement of handing over my applications to FedEx, clinging to the receipts with precious tracking numbers, and checking them a hundred times a day until I got confirmation that […]
ADB projects Sri Lanka’s economic growth to rise to 4.1-pct in 2021
The Asian Development Bank’s (ADB) flagship annual economic publication, the Asian Development Outlook (ADO) 2021, forecasts a significant rebound in Sri Lanka’s economy as domestic and global economic activity strengthens and vaccination campaigns gather momentum domestically and abroad. ADB projects Sri Lanka’s economic growth to rise to 4.1% in 2021 and moderate to 3.6% in […]
World Bank reassures support for Sri Lanka to build back better from COVID-19
The World Bank’s Country Director for Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos, concluded a successful visit to Sri Lanka Sunday where he reiterated the Bank’s commitment to support the islands efforts towards recovery and to build back better from the COVID-19 shock. Based in Kathmandu, Nepal, this latest mission followed the Country Director’s introductory […]
ICRA Lanka: Low-interest rates, Who are the winners and losers?
Key Takeaways § Price increase in treasuries have helped primary dealers and banks to realize substantial capital gains as much as 40-to-60 percent from March 2020 price levels. § Equities attracted a large number of local investors, as historically low interest rates on fixed income assets prompted them to seek alternative investments. Investors saw their portfolio valuations […]
Only solution for COVID-19 pandemic is vaccination: Cant afford lockdown
Sri Lanka’s President says only a vaccine can end the COVID-19 pandemic. Developing countries such as Sri Lanka cannot take lockdown measures or impose curfews that obstruct the economic activities of the country, the President’s office said issuing a statement. “The majority of our country’s income earners depend on informal livelihoods. Therefore, while the government […]
SL and World Bank sign USD70Mn loan to redevelop major transit terminal in Kandy
The Government of Sri Lanka and the World Bank signed a loan agreement in the amount of 69.33 million dollars for the Kandy Multimodal Transport Terminal Development Project, which will develop the Good Shed terminal in Kandy. Located at the city center and providing access to the railway station, the modernized terminal will integrate rail, bus, three-wheeler, […]
Eco Spindles talks responsible recycling at CFW’s Responsible Fashion Summit
At the recently concluded Responsible Fashion Summit organised by the Colombo Fashion Week (CFW), Sri Lanka’s largest plastic recycler Eco Spindles was among industry experts in an invaluable panel discussion themed ‘Circularity in a Fashion Supply Chain’. Representing Eco Spindles at the discussion, Chief Executive Officer at Eco Spindles Yarns, Nalaka Seneviratne elaborated on how […]
Sri Lanka rupee strengthened against the US dollar
The Sri Lanka rupee further strengthened against the US dollar yesterday, on positive outlook for inflows. The selling rate was quoted at 191.97 rupees for a US dollar, as against 201.28 rupees on Friday and a peak of 204.62 rupees last week. The indicative dollar spot exchange rate was 194.44 rupees yesterday as against 199.93 rupees […]