Total merchandise exports for January and February 2020, was US$ 1,931 which resulted in a reduction of 3.6% compared to the same period in 2019. The Apparel exports comprised of US$ 939 million exporting to the main markets of USA, UK, Italy, Germany and Belgium followed by Tea US$ 208 Million which is the main…
By Dr. Ganeshan Wignaraja Developing Asia (hereafter Asia) is famous for engineering V-shaped recoveries following the 1997 Asian financial crisis and the 2008 global financial crisis as well as emerging as a key engine of global growth. The severity of the COVID-19 pandemic has sparked concerns about whether global growth will be V, U, L…
KUALA LUMPUR (Reuters) – Malaysia’s Top Glove Corporation Bhd (TPGC.KL), which makes one in every five gloves globally, expects a product shortage as demand from Europe and the United States spikes because of the widening coronavirus outbreak is exceeding its capacity. The company has extended shipping times to cope with the demand surge, Executive Chairman…
BEIJING, March 29 (Xinhua) — PetroChina, China’s largest oil and gas producer, reported expansion in revenue in 2019, while its net profit saw a remarkable drop due to the slowing global economic growth and unrest in the international oil market. Revenue rose 6 percent year on year to 2.52 trillion yuan (about 355.22 billion U.S….
Gifts prototype to Homagama Hospital and offers to share technology in the interest of the nation Atlas Axillia PLC, a subsidiary of the Hemas Group, has gifted a fully homegrown Automated Guided Vehicle (AGV) robot to the Homagama Base Hospital, to assist medical personnel in the remote monitoring and care of patients affected by…
KUALA LUMPUR, (Reuters) – A global shortage of condoms is looming, the world’s biggest producer said, after a coronavirus lockdown forced it to shut down production. Malaysia’s Karex Bhd makes one in every five condoms globally. It has not produced a single condom from its three Malaysian factories for more than a week due to…
Bloomberg – Abbott Laboratories is unveiling a coronavirus test that can tell if someone is infected in as little as 5 minutes, and is so small and portable it can be used in almost any health-care setting. The medical-device maker plans to supply 50,000 tests a day starting April 1, said John Frels, vice president of…
1. Introduction The Central Bank of Sri Lanka has decided to set up the above Re-financing Facility in order to implement the decisions taken by the Cabinet of Ministers on 20.03.2020 to introduce a wide range of fiscal and financial concessions for COVID-19 hit business activities including self-employment businesses and individuals. Among these concessions are…
The Sri Lankan rupee continues to trade weaker on back of COVID-19 pandemic effect which has led to a shutdown of financial activities across the country. According to the daily exchange report of the Central Bank of Sri Lanka (CBSL), the buying rate of a US dollar stood at Rs.187.10 today (27) whilst selling rate…
More relief to continue operations at Ports President Gotabaya Rajapaksa has instructed the Sri Lanka Ports Authority (SLPA) to immediately provide necessary facilities to ships calling at Ports in the country during the curfew period. Accordingly, the Chairman of SLPA General (Rtd) Daya Rathnayake said all ships have been exempted from demurrage and entry charges….
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