MANILA, Philippines — The Philippine economy could shed as much as $38.1 billion (almost P1.9 trillion) or 11.5 percent of gross domestic product (GDP) if COVID-19 quarantine restrictions dragged on for six months, the latest Asian Development Bank (ADB) estimates showed. The Manila-based multilateral lender’s updated COVID-19 economic impact assessment as of June showed that … [Read more...] about ADB: 6-month quarantine to shed P1.9 trillion from PH GDP
SL capable of ‘V-shaped’ COVID recovery: Basil
SLPP National Organiser Basil Rajapaksa - Pic by Ruwan Walpola Says June exports rebound to $950m, signaling strong resurgence Economy top priority post-polls As tourism remittances likely to continue struggling, focus on other sectors to spur growth Acknowledges exports will be crucial to earn forex Wants stronger efforts from banks to support COVID-hit businesses, … [Read more...] about SL capable of ‘V-shaped’ COVID recovery: Basil
Sri Lanka central bank cuts key rates by 100 basis points By Reuters
© Reuters. FILE PHOTO: People walk past the main entrance of the Sri Lanka's Central Bank in Colombo, Sri Lanka BENGALURU (Reuters) - The Central Bank of Sri Lanka on Thursday cut its benchmark lending and deposit rates by 100 basis points each, as it sought to counter the hit to economy from the COVID-19 pandemic. The central bank, however, kept … [Read more...] about Sri Lanka central bank cuts key rates by 100 basis points By Reuters
Extension of import controls further batters Sri Lankan economy : Advocata – Adaderana Biz English
Advocata Institute, a Colombo-based policy think tank, urged the government to eliminate import controls on consumer goods and raw materials, as import restriction would distort production and raise the price of goods. According to the Extraordinary Gazette No 2182/10 of June 2020, import controls imposed by the earlier gazette Number 2176/19 of 22 May 2020 have been extended … [Read more...] about Extension of import controls further batters Sri Lankan economy : Advocata – Adaderana Biz English
Basil asks voters to give the SLPP a two-thirds majority in Parliament
Wednesday July 8, 2020 15:08:34 TWO-THIRDS PLEASE -Basil Rajapaksa wants voters to give his party a thumping majority in Parliament … [Read more...] about Basil asks voters to give the SLPP a two-thirds majority in Parliament
Japan gives Sri Lanka Rs1.3bn of advanced medical equipment for Coronavirus battle
Wednesday July 8, 2020 14:02:03 ECONOMYNEXT – Japan is giving a grant of 800 million yen (1,360 million rupees) of high tech medical equipment to Sri Lanka’s health system as the country successfully battles the Coronavirus … [Read more...] about Japan gives Sri Lanka Rs1.3bn of advanced medical equipment for Coronavirus battle
Sri Lanka says strong interest in US$500mn term loan
Wednesday July 8, 2020 07:51:40 ECONOMYNEXT – Sri Lanka has seen a strong interest from investment banks for proposals to raise 500 million US dollars through a term loan, a top official said. There had been a very good response from … [Read more...] about Sri Lanka says strong interest in US$500mn term loan
CB kicks off work on blockchain-based KYC platform
Seated from left: Sampath Bank Managing Director Nanda Fernando, CBSL Assistant Governor R.A.A. Jayalath, and University of Colombo School of Computing Director Prof. K P Hewagamage. Standing from left: CBSL Director (Payments and Settlements) D. Kumaratunge, CBSL Governor Prof. W.D. Lakshman, and Deputy Governor H.A. Karunaratne Seated from left: Yaala Labs CEO Lalin Dias, … [Read more...] about CB kicks off work on blockchain-based KYC platform
Role of foreign employment in Sri Lanka’s economic revival: Challenges and opportunities
Foreign Secretary Ravinatha Aryasinha recently observed that despite its immediate gloom, the present situation had been an eye-opener in many respects that could help correct structural, procedural and human interface incongruities in Sri Lanka’s labour migration. He said it also presented an opportunity for Sri Lanka to re-orient foreign employment in a post-COVID-19 … [Read more...] about Role of foreign employment in Sri Lanka’s economic revival: Challenges and opportunities
Three-year plan to increase foreign employment related income
* Three-year plan to increase foreign employment related income Tue, Jul 7, 2020, 07:18 pm SL Time, ColomboPage News Desk, Sri Lanka. July 07, Colombo: Sri Lanka Bureau of Foreign Employment (SLBFE) has focused on formulating a three-year plan to increase development and revenue of the Bureau and its partners. SLBFE chairman Kamal Ratwatte has appointed a … [Read more...] about Three-year plan to increase foreign employment related income
