Economic
FDI hit by Easter Sunday attacks and political uncertainty
Significantly lower than $ 2.1 b in 2018 and $ 1.9 b in 2017
India, Singapore, Canada, Hong Kong and China top investors
Hambantota industrial zone, Port City, hotels and mixed development pegged as best sectors to attract investment
Major reforms needed to attract FDI consistently, says CB Annual Report
Huawei, the global leading ICT solution provider, stepped up efforts and pledged support to Sri Lanka to fight against the coronavirus epidemic through a donation of a range of cutting-edge ICT solutions.
Considering the difficulties faced by some customers of financial institutions affected by the COVID-19 pandemic to obtain certain relief measures, the Central Bank of Sri Lanka has extended the deadline (30.04.2020) for submitting requests for debt moratoriums and 4% per annum refinancing facility for two months working capital, until 15 May 2020.
For a Government in transition, and a new administration barely three months old, to be facing the impact of perhaps the worst pandemic in world history can be very unfortunate, apart from being the biggest-ever challenge in Sri Lanka’s history. That is exactly what President Gotabaya Rajapaksa elected on 16 November 2019 and his interim Government and officials have been facing since late January 2020.
The Securities and Exchange Commission (SEC) has recommended to the Colombo Stock Exchange (CSE) to explore the feasibility of conduct activities digitally as well as to enable clearing and settlement electronically.
With the introduction of a new regulatory instrument Colombo stock market will be resuming trading soon after the Covid-119 situation becomes conducive for investors to step in under better sentiment and conditions, officials said.
The country’s confectionery industry including bakeries is up in arms over the recent increase in the import taxes on Palm Oil, a key ingredient for their products.
Sri Lankan economy, already reeling under a purported ‘demand-side’ shock and it has to bear a ‘supply-side ‘shock when the country unlocks public and private sectors to resume activities ON Monday11 living with Covid for almost two months.
As a further cost cutting measure, largely grounded SriLankan Airlines has sent 400 contract staff on three months no-pay leave till July.
PickMe delivery drivers who had to undergo strict once a week temperature checks during the past two weeks, will now go through this exercise daily, as the number of COVID patients island-wide, are on the rise.
Considering the difficulties faced by some customers of financial institutions affected by the COVID-19 pandemic to obtain certain relief measures, the Central Bank of Sri Lanka has extended the deadline (30.04.2020) for submitting requests for debt moratoriums and 4% per annum refinancing facility for two months working capital, until 15 May 2020.
The Maximum Retail Prices (MRP) of Mysore Dhal and canned fish have been removed by the Consumer Affairs Authority (CAA).
In response to the COVID-19 outbreak in Sri Lanka, The Coca-Cola System in Sri Lanka has committed its support by pledging a contribution of Rs. 130 million to strengthen the national response of minimising the impact and to combat the spread of the COVID-19 pandemic. This pledge will be used to effectively contribute to the ongoing national COVID-19 response by extending significant support to the Ministry of Health (MoH) and to vulnerable communities.
Taking advantage of lower global prices, the Government has imposed a fresh round of import duties and surcharges on fuel, essentially doubling taxes, aimed at shoring up flagging public revenue.
LONDON (Reuters): Oil rose further above $26 a barrel on Friday as OPEC and its allies embarked on record output cuts to tackle a supply glut due to the COVID-19 crisis that has been weighing on the market.
Warns novel coronavirus pandemic could trigger collapse of collective enterprise if urgent bold measures not taken
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