Says 11 years on goal is still to create country where every citizen can live in peace, harmony and dignity Calls on public to work towards this target as tribute to war heroes Says will not hesitate to withdraw SL from any intl. organisation besmirching military President hails all those who laid down their lives to end war Recalls lives and property lost, praises MR … [Read more...] about President renews rallying call for unity
Business
Stock market turns resilient, recoups lost ground fast
Strong performance yesterday helps All Share Price Index surpass 20 March and 12 May closing after 15% dip following reopening post 7-week COVID-19 closure ASPI up 3.78%, highest day gain since 16 February 2012 Active S&P SL20 records highest day gain of 5.25% since index was formed in 2012 Market capitalisation up Rs. 167 b since 2020’s lowest level suffered last … [Read more...] about Stock market turns resilient, recoups lost ground fast
Trade deficit shrinks in Feb. as COVID-19 bites
Deficit in Feb. shrank to $ 574 m from $ 730 m in Jan. But merchandise exports increased for first time since June by 0.7% to $ 988 m Exports of textiles and garments increase by 0.5% to $ 468 m But agri, gems and jewellery, tea and seafood recorded declines Imports increased by 9.1% to $ 1.5 b on intermediate goods Rupee depreciates 3.4% by 15 May Sri … [Read more...] about Trade deficit shrinks in Feb. as COVID-19 bites
Constrained fiscal space for post-COVID-19 reconstruction: Consider postponing costly tax reforms
Central banks should hand over the baton of leading the economy to the visible hand of the government. It can be a facilitating supporter but not the leading proponent of post-COVID-19 economic reconstruction The destructive COVID-19 pandemicThe unanticipated external shock delivered to Sri Lanka’s economy in the form of destructive COVID-19 pandemic has been costly in … [Read more...] about Constrained fiscal space for post-COVID-19 reconstruction: Consider postponing costly tax reforms
President gets tough, tells officials to comply
President Gotabaya RajapaksaState institutions should be maintained without burdening Treasury Insists all State institutions should comply with Govt. policies, State officials who fail to do so are “burden” to nation Irrational laws cannot be allowed to impede SL economy: President Says issues between the State Timber Corporation and State Plantations Corporation should … [Read more...] about President gets tough, tells officials to comply
Surviving the apocalypse | Daily FT
A troubling reality we must accept is that this will not be the last pandemic we face in our lifetimes; similar events with similar reactions by governments can be expected every few years. How well we fare after this and future lockdowns is up to us; a historic opportunity is on offer. Sri Lanka can transform into a truly digital economy, even though we are two decades late to … [Read more...] about Surviving the apocalypse | Daily FT
President calls on banking sector to think out of the box for economic revival
President Gotabaya Rajapaksa yesterday requested the banking sector to deviate from conventional thinking and practice to support the country’s striving to rebuild the economy badly hit by the COVID-19 pandemic.“The Government was able to keep the coronavirus under control. The biggest challenge we face right now is to rebuild the collapsed economy. It will take a long time … [Read more...] about President calls on banking sector to think out of the box for economic revival
CB to checkmate COVID-19 crisis with more cash
Announces further extraordinary measures to boost liquidity for banks to urgently support COVID-hit businesses, individuals Expects banks to provide uninterrupted credit flows for economic recovery in “unprecedented times” Additional funding to be approved for banks to provide more working capital, other loans until June 2021 Annual assessment of systemically … [Read more...] about CB to checkmate COVID-19 crisis with more cash
COVID-19-triggered panic buying boosts tea prices to all-time high
Low Grown average of Rs. 739.82 and total tea average of Rs. 689.18 at highest ever National Tea Sales Average gain of Rs. 93.96 per kilo month on month in April a record Rs. 110.95 per kilo gain from last year Panic buying triggered by the spread and impact of the novel coronavirus (COVID-19) pandemic along with short supply has boosted prices at Colombo tea auctions … [Read more...] about COVID-19-triggered panic buying boosts tea prices to all-time high
Sri Lanka’s proximity dynamics at crossroads
While it offers huge challenges in societal correction, CIRA believes that the pandemic has made people more attuned to public order and community health. The think-tank believes that the Government would do well to build on an impressive handling of the pandemic to instil a more disciplined society as just how the masses handle the re-opening may decide how well the economy … [Read more...] about Sri Lanka’s proximity dynamics at crossroads
