Exports take a hit in the first half of 2020 due to COVID-19 but expected to recover during the remainder of the year Reduce from $ 5.9 b in 2019 to $ 4.4 b this year largely due to COVID-19 impact Garments decline 20%, rubber products down 16% but tea up 1.6% Silver lining provided by trade deficit declining to lowest level since Aug. 2009 Imports decline 24.6% to $ 1 b … [Read more...] about Exports decline 26.4% in 1H
At least 4 State Ministers tasked with specific export emphasis of several produce types, products Additionally, dedicated State Ministers for Handloom, which has export potential, and Gem and Jewellery Support to exporters expected from Ministry of Agriculture as well as Plantations Flagship agency Export Development Board comes under Cabinet-level Trade Minister … [Read more...] about Govt. gears up to boost exports
The mediocrity in universities in Sri Lanka continues due to inept higher education administrators perpetuating low-quality programs by investing limited funds on educational curricula. The future is not rosy for Sri Lankan universities unless quality and rigour of research and teaching is drastically improved to be consistent with international standards Sri Lankan … [Read more...] about What ails Sri Lankan universities?
The newly appointed Cabinet Ministers pose for a group picture with President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa after the swearing in held at the Magul Maduwa (Audience Hall) of the historic Temple of the Sacred Tooth Relic premises in Kandy. 25 Cabinet, 39 State Ministers sworn in President retains Defence portfolio, PM gets Finance, Urban Development … [Read more...] about GR-MR pick A and B teams to deliver prosperity
Says opportunity to strengthen investment climate and much needed policy reforms to drive accelerated and sustainable socio-economic development Reiterates capital market should play pivotal role in facilitating capital formation for commercial enterprises, wealth generation for citizens Welcomes inclusion of capital markets under gazetted responsibilities for State … [Read more...] about CSE confident in strong mandate for a pro-growth Govt.
The European Chamber of Commerce of Sri Lanka (ECCSL), has congratulated the newly elected Prime Minister Mahinda Rajapaksa and has extended its support to the Government to revive the economy.Following is the ECCSL statement.On behalf of the Membership and Executive Committee of we wish to extend our warmest and heartfelt congratulations to you on your appointment as the 9th … [Read more...] about European Chamber of Commerce congratulates new PM; extends support to revive economy
Ceylon Chamber congratulates new Government Says 2/3 majority indicates public expects accelerated and inclusive development Optimistic Govt. will deliver bold and innovative measures to foster growth Calls for focus on domestic production, narrowing trade deficit, managing fiscal deficits Backs streamlined Cabinet and suggests it is legislated for continuity Seeks … [Read more...] about Govt.’s strong mandate for accelerated economic revival: CCC
JAAF Chief forecasts 80,000 to 100,000 workers will be out of jobs due to virus Smaller companies more vulnerable to layoffs Industry hopeful of US and EU markets reopening Industry has revised 2020 apparel export earnings to be 30-40% or $ 1.5-2 b lower By Charumini de SilvaThe apparel industry fears job losses owing to the COVID-19 pandemic-led downturn in business … [Read more...] about Apparel industry fears 100,000 job losses post-COVID-19
Amid numerous adverse surroundings, finally, the general election was held and an extraordinary victory secured by the President Gotabaya Rajapaksa led Sri Lanka People’s Front, commonly referred to as ‘Podu Jana Peramuna or Pohottuwa’. The crushing win with an overwhelming margin and a staggering 145 parliamentary seats seems to virtually bury the combined Opposition … [Read more...] about A strong mandate to serve
SLPP Chairman Prof. G. L. Peiris at the press conference yesterday – Pic by Upul AbayasekaraDescribes two-thirds win as a “pivotal moment in history” But says Govt. must pay heed to public views and achieve goals to fulfil landmark mandate Intends to strengthen parliamentary committees, including COPE, to improve oversight Insists mandate not a blank cheque to act in … [Read more...] about No excuses not to deliver: SLPP