Sri Lanka’s merchandise exports increased by 16.6 % to US$ 989.7 Million in May 2023 compared to April 2023. However, it is a 5.59 % decrease when compared to May 2022. Declining trend in merchandise exports further continues due to the negative trends shown in major export products specially in Apparel & Textiles and Coconut…
The ‘Titan’ submersible was destroyed during an expedition to view the sunken ‘Titanic’ with five rich tourists. As per its operator OceanGate, Titan which destroyed at approx 1.5KM was capable of diving approx 4KM comfortably. The deep sea trip seems to have been a site seeing tour & not a data collection mission for scientific developments for…
JAAF confounded by the CEB and PUCSL for constantly overlooking industry submissions and cautions on electricity tariff hikes CEB fails to extend industrial electricity tariff reductions to Sri Lanka’s largest forex earner Electricity tariff revisions proposed by the Ceylon Electricity Board (CEB) for the period July to December 2023 indicate there is room for a…
By Indika De Zoysa The global digital economy is poised for significant growth and transformation in the coming years. With technology advancements and increasing connectivity, the digital economy has become a vital driver of global economic activity. Looking ahead, several key trends and outlooks shape the future of the digital economy. Firstly, the adoption of…
Global growth is showing near-term resilience but with core inflation remaining stubbornly high, central banks will have to continue tightening policy in the coming months, says Fitch Ratings in its June Global Economic Outlook (GEO), released today. With monetary policy adjustments and their impact on the economy proving more protracted, the global growth outlook for 2024…
One-fourth of Sri Lankans are living in poverty, yet more than 50% are not covered by social protection schemes Fragmentation and poor governance have resulted in an inefficient social protection system Increased transparency, inclusion, adaptability, and accountability mechanisms such as citizen engagement are essential for building a better social protection system The COVID-19 pandemic and…
By Prof. Samitha Hettige Trend setter diplomat Henry Kissinger turned 100 last week. He was the top diplomat of the USA & the force behind establishing relations with the Peoples Republic of China (PRC) during Nixon administration (early 1970s). He is considered a lifelong contributor to China US friendship backed by his knowledge on capitalism…
By Imesha Dissanayake The common path followed by almost all IMF member countries in response to sovereign debt crises in recent decades, is to enter into an IMF supported stabilisation and structural adjustment programme. Sri Lanka has been a country that has followed this trend repetitively, having entered into 16 economic stabilisation programmes during 1965-2020,…
As the Sri Lankan economy continues to navigate through challenging times it is crucial for decision makers to carefully consider the impact of lifting the import restrictions on the local tile industry. Traditionally, Sri Lanka has been dependent on imports, but it must transform and cultivate a competitive and superior quality domestic industry. The habit…
The Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) would like to provide the following clarifications to the general public on the ongoing debate and public discussion regarding the pricing of pharmaceuticals. There have been various misleading claims and misrepresentations made by various parties through both mainstream and social media on this subject. While some of…
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