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Is Palm Oil a Problem or a Solution?

By Dr. Chatura Rodrigo (Ph.D) Palm oil is an edible vegetable oil produced from the reddish fruit of the oil palm. It’s the most consumed edible oil in the world. Contrary to popular opinion, it’s also one of the most sustainable and economically viable crops in the world. To illustrate, only 5% of the world’s…

(0)Comments | June 28, 2021 3:10 pm

Sri Lanka’s Labour Market Amidst COVID-19: The Need for Targetted Interventions

By Nisha Arunatilake Lockdowns and restricted mobility have devastated labour markets across the world. According to the International Labour Organization (ILO), the equivalent of 225 million jobs was wiped away globally due to employment and working hour losses in 2020 (Q4) compared to 2019 (Q4). These working hour losses are four times higher than those…

(0)Comments | June 28, 2021 12:35 pm

Central Bank Governor’s Statement on Foreign Currency Liquidity in Domestic Market

Over the past few days, concerns have been raised by various individuals and media about an assumed shortage of foreign currency liquidity in the domestic market, preventing banks from facilitating imports. Reports published or circulated by some media channels indicate seriously negative viewpoints which can be very harmful to the country. I wish to make…

(0)Comments | June 28, 2021 12:09 pm

Plug and Play ‘Park in Park’ Industrial facility at Hambantota International Port

The Hambantota International Port Group (HIPG) has partnered with Shenzhen Xinji Group to set up a plug and play ‘Park in park’ manufacturing facility within the port’s industrial zone. The concept is a fully fledged stand alone industrial facility with some very unique features, set to operate within the Hambantota International Port’s Industrial zone.  The…

(0)Comments | June 28, 2021 11:25 am

Calvin Klein Supplier Eyes Colombo Listing to Fund Africa Growth

Bloomberg – Apparel maker Hela Clothing plans an initial public offering on the Colombo Stock Exchange within 12 months to raise capital for entry into North Africa and the expansion of its East African operations. The Sri Lanka-based manufacturer for PVH Corp. — the parent company of fashion brands Tommy Hilfiger and Calvin Klein — will offload…

(0)Comments | June 28, 2021 10:14 am

Prime Minister Mahinda Rajapaksa meets with Omani Investors

Prime Minister Mahinda Rajapaksa met with an Omani investors delegation from Shumookh Investment and Services SAOC which is the investment arm of Madayn – The Public Establishment for Industrial Estates of the Sultanate of Oman, at Temple Trees on 21 June, 2021 in Colombo. The Omani delegation comprised of Ambassador of Oman to Sri Lanka Al-Sheikh Jumah Hamdan Al-Shehhi,…

(0)Comments | June 28, 2021 10:06 am

Letter to President – Trade and Investment Issues Faced and Probable Solutions Proposed

Trade and Investment Issues faced by our membership and probable solutions proposed by them. First of all  we would like to thank the government for introducing a package of concessions by circular no 5 of Central Bank of Sri Lanka (dated 25 th of May 2021) Federation of Chambers of Commerce and Industry Sri Lanka…

(0)Comments | June 28, 2021 9:27 am

Risks for Sri Lankan Banks May Rise on End of Restriction on ISB Investments

Fitch Ratings: The end of the suspension on Sri Lankan banks’ investments in international sovereign bonds (ISBs) issued by the Sri Lanka sovereign (CCC) has the potential to increase banks’ exposure to sovereign and foreign-currency funding and liquidity risks, says Fitch Ratings. Banks’ credit profiles are already significantly exposed to the sovereign, with Fitch-rated Sri…

(0)Comments | June 26, 2021 12:27 pm

Ceylon Chamber of Commerce initiates high-level dialogue to create a dynamic SME sector

The National SME Forum organized by the Ceylon Chamber of Commerce is all set to be held on 28th June 2021 via the zoom platform under the theme ‘Accelerating economic growth through creation of a dynamic SME sector’. The forum will be inaugurated by Chief Guest, Hon. Wimal Weerawansa, Minister of Industries and Commerce and…

(0)Comments | June 25, 2021 4:16 pm

Foreign Minister Dinesh Gunawardena attends the Asia-Pacific High Level Conference on Belt and Road Cooperation

Addressing the Asia-Pacific High Level Conference on Belt and Road Cooperation virtually on 23 June, 2021, Foreign Minister Dinesh Gunwardena stressed the importance of enhanced cooperation among states and other partners in addressing the COVID-19 challenges, including by recognizing the vaccines as global public health good. He also highlighted Sri Lanka’s policy focus and thrust on…

(0)Comments | June 25, 2021 10:06 am