Business Equities tumble as Trump revives trade war fears
(Hong Kong) AFP: Stock markets suffered steep losses yesterday, tracking a selloff in New York after Donald Trump sparked fears of a renewed trade war with…
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Business April inflation subdued over base effect
Inflation for the month of April was recorded at 5.2 percent, as the prices measured for the 12 months to April was slightly lower than the 5.4 percent…
Business China’s grand e-currency experiment set to begin this month
WION: China has claimed that the country is rolling out its digital currency in four cities starting next week. Owing to the COVID-19 pandemic, the health risk…
Business Luxury taxes added to vehicles less than 1,000cc after rupee depreciation: Importers
Due to the increase of the value of Japanese Yen and the US Dollar against the Sri Lankan Rupee after March 20, the vehicles with engine capacity less than…
Business March merchandise exports plunge record 42%
Sri Lanka’s merchandise export earnings in March plunged a record 42 percent year-on-year (YoY) to US $ 646 million, with the COVID-19 pandemic spreading…
Business Australia blasts Chinese Ambassador for threatening to ruin economy
Australia, (Daily Mail), 28 April 2020 - Australia has asked the Chinese ambassador to explain his ‘economic coercion’ threat made in response to…
Business CB imposes maximum interest rates on pawning advances
The Central Bank has imposed maximum interest rates on pawning advances of licensed banks to provide relief to low income families affected by the COVID-19…
Business State and private sector accelerate e-commerce spend as COVID-19 alters shopping habits
As COVID-19 is altering almost everything including how people shop for their day-to-day needs, some chief executives expect such changes are here to stay even…
Business SL to reposition exports to meet new market conditions resulting from COVID-19 crisis
Sri Lankan Missions abroad seek to re-position Sri Lanka’s exports to meet market conditions resulting from the COVID-19 crisis, the Foreign Relations Ministry…
Business “We need to make every investment count now more than ever,” says UNDP Economist
By Shabiya Ali Ahlam As Sri Lanka is in the midst of exploring all possible avenues to bounce back from the upheaval set in motion by the coronavirus pandemic,…
Business WB forecasts 19% decline in remittances to Sri Lanka this year
The worker remittance inflows to Sri Lanka this year are projected to decline by 19 percent year-on-year (YoY), driven by the global economic slowdown due to…
Business U.S. oil futures plumb historic lows below zero, Brent plunges
LONDON (Reuters) - U.S. oil futures continued to trade in negative territory yesterday, after closing down nearly US$ 40 on Monday in their first ever sub-zero…
Business Easter Sunday attacks cost Rs.150bn to economy erasing 1% of GDP
The Easter Sunday attacks and the tremors felt across the economy in its aftermath cost the Sri Lankan economy a mammoth Rs.150 billion in 2019, translating…
Business Export Development Board confident export sector will steer country out of COVID-19 crisis
The Export Development Board (EDB) yesterday renewed its call to the government and the business community to give utmost prominence to local exports and…
Business Consumer durables sector hit hard by coronavirus
The depleted consumer incomes and temporary import restrictions on non-essential imports could deal a heavy blow to Sri Lanka’s consumer durables sector, which…
Business Colombo blossoms
The month of April considered as the beginning of 'spring season' in the country when trees flourish with fruits and blossoms. Seen here is Colombo deserted…
Business Manning Market seems busy…
Manning Market in Colombo were seen crowded with people who had come to purchase vegetables and other essentials while most of the streets looked deserted due…
Business Tea industry urges relevant govt. depts. to increase number of working days to facilitate exports
The local tea industry is urging the government to increase the number of working days of relevant government departments to facilitate the necessary approvals…
Business Payments via Outward Investment Accounts for overseas investments suspended
Prime Minister Mahinda Rajapaksa today issued an Extraordinary Gazette suspending Sri Lankans from making payments through Outward Investment Accounts for…
Business Govt. to suspend import of non-essential goods
The Government has decided to suspend or limit the importation of non-essential goods except pharmaceutical products and fuel, Cabinet spokesman and Minister…
Business Ride-hailing industry takes plunge putting gig workers’ livelihood at great peril
Sri Lanka’s sprawling ride-hailing industry dominated by PickMe and Uber fell victim to what appears to be a protracting coronavirus pandemic, throwing…
Business HSBC Sri Lanka offers relief to Personal and Corporate customers
HSBC, the largest international bank in Sri Lanka, is offering a range of relief measures for its personal and corporate customers given the challenges…
Business Apparel sector leads in mass scale insurance for employees and their families
At a time when calamity strikes us, when every one of us in the whole wide world (www) are caught off guard how many of us – citizens, would have some kind of…
Business Stock market to be closed till March 27
In view of the extension of the ongoing curfew in the districts of Colombo, Gampaha and Puttalam, the Colombo Stock Exchange has declared the period from March…