China’s coronavirus outbreak is weighing on the oil price. With the world’s second-largest economy in the grip of this sometimes-fatal illness, traders fear oil demand is set to fall markedly. Not only does the coronavirus, which has already claimed more than 350 deaths in China, threaten to damp business and industrial activity in that country,…
President Gotabaya Rajapaksa commended the SriLankan Airlines crew who flew to Wuhan, the epicenter of coronavirus to bring back Sri Lankan students. The crew joined a luncheon hosted by the President at the Presidential Secretariat today (03). Led by the Chairman of the Airline Ashoka Pathirage, Board of Directors, engineers and pilots and the crew…
Tourist arrivals to Sri Lanka were down by 7.4% in January 2020, from a year earlier, confirming a downturn in Chinese tourists, as the city has been struck by the Deadly coronavirus outbreak. According to limited data released by the Sri Lanka Tourism Development Authority (SLTDA), January arrivals were 226,094 as against 244,239 a year…
The World Bank and Sri Lanka identified several new areas of development cooperation in addition to World Bank funded existing projects. They are renewable energy, garbage disposal, watershed management, plantation for export, easing traffic congestion and pedestrian and road safety. This understanding was reached during the discussion that followed when Hartwig Schafer, Vice President of…
The sum of Rs.205.49 million invested by the Employees Provident Fund (EPF) Department of the Central Bank of Sri Lanka in the troubled The Finance Company has gone to zero, the equity portfolio listed by the EPF as of 31 December 2019 revealed. The market share of The Finance Company has come to a standstill, mainly due…
TIME – Chinese stocks plummeted by the most since an equity bubble burst in 2015 as they resumed trading to the worsening virus outbreak. The CSI 300 Index dropped as much as 9.1% as onshore financial markets opened for the first time since Jan. 23. More than 2,600 stocks fell by the daily 10% limit….
Sri Lanka’s inflation, as measured by the change in the Colombo Consumers’ Price Index (CCPI), increased to 5.4% in January 2020 from 4.8 in December 2019, the Central Bank of Sri Lanka reported. This was driven by monthly increase of prices of items in both Food and Non-food categories. Food inflation (Y-o-Y) increased substantially to…
MAS Holdings appointed Suren Fernando as Chief Executive Officer with effect from 01st January 2020, the first non-family CEO to lead South Asia’s largest apparel manufacturer. This appointment signals a fundamental shift from the founding members to the next level of leaders equipped to take MAS forward, meeting the demanding pace of growth aligned with…
Why patiently exercising caution without panic can save your life and others. By Dr. Kayathri Periasamy The current global healthscare sending waves of fear and shock throughout the world is the Wuhan illness or more popularly known as the Coronavirus. While it is easy to get caught in the circle of panic caused by…
The Food and Agriculture Organization of the United Nations (FAO) hosted the first national level consultation with representatives from the Sri Lankan Government ahead of the 35th Session of the FAO Regional Conference for Asia and the Pacific (APRC 35). The APRC is an official forum where Ministers of Agriculture and other high-ranking officials from…
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