Advocata’s Bath Curry Indicator (BCI) , which tracks the monthly changes in the retail price of food, recorded an increase of 15% from November 2021 to December 2021. Much of this increase is driven by rising prices of vegetables. 100g of Green Chillies at Rs18 increased to Rs 71. This is a 287% increase in…
By: Charith Gamage In a period of decreasing reserves and foreign exchange shortages, migrant worker remittances had once been a welcome stream of income for Sri Lanka in fulfilling its foreign exchange shortfalls. With the recent sharp fall in remittances, the ongoing situation is causing chaos in the island nation’s mission to increase foreign exchange…
By Vinuja Singharachchige Much is being said nowadays about the pressures the Sri Lankan Rupee is facing, but it is important that we understand the mechanics and greater economic context. Currency crises have been common in our modern history with countries facing sudden devaluations to the point where we can predict the patterns. There was…
By Amila Abeynayaka Pollution caused by the irresponsible disposal of plastics is a significant issue, particularly in developing countries like Sri Lanka. According to Great Britain’s Royal Statistical Society, it is estimated that only 9% of all plastics ever produced globally has been recycled. This is particularly concerning since according to the United Nations Environment…
The Silk Road Journal by Mahika Ming The 2022 Beijing winter Olympics is about to start in China. An academic symposium on the ancient relations between the Chinese and Greek civilizations was held at Beijing Sport University in Beijing on January 1, 2022, titled “Civilization, Peace and Friendship” to mark the 50th anniversary of establishing…
Sri Lanka has a whopping 527 state-owned enterprises[1] (SOEs). The 55 SOEs classified as “strategically important” alone employ 10% of the public sector workforce[2], or about 1.9% of all workers. Such a large number of SOEs are not the norm globally[3]; many other countries (such as India) have been reducing their stakes in SOEs and,…
One of the pioneer e-commerce brands in Sri Lanka has reached global markets with constant innovative business strategies, Kapruka has spearheaded in the market. Kapruka will connect local brands to international platforms, giving entrepreneurs the support to showcase the product. Dulith Herath, founder and chairman Kapruka talk about the four initiatives and the platforms. Kapruka…
Business sentiment rebounds as corporates anticipate positive developments in the new year At a recent economic forum organised by the Ceylon Chamber of Commerce, Nishan de Mel – the Executive Director of Verité Research – stated that Sri Lanka should pursue a debt restructure by drawing up a credible programme and approaching the IMF thereafter,…
The media has reported that the government intends to implement a system of quotas for imports and the rationing of food and fuel. This is the latest in the long list of interventions over the last two years to address the growing balance of payments problems. Similar to previous measures this too only addresses the…
The Silk Road Journal by Mahika Ming The word “Democracy” has united the two Greek words “demos (people)” and “kratos (rule), literary symbolizing “people rule.” Democracy therefore, is linked to human rights or “people’s rights.” The Summit for Democracy was held on 9th and 10th of December 2021 in the USA. One main objective of…
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