Forest restoration: Where does Sri Lanka stand?

This year, the International Day of Forests is marked under the apt theme ‘Forest restoration: a path to recovery and well-being’. Forest restoration is one of the priority areas for mitigating the effects of climate change.

Five reasons why South Asia is coming together to beat marine plastic pollution

Collaboration, cooperation, consensus – these words are seldom used when describing the interactions of the eight sovereign nations that make up South Asia. For a variety of reasons, South Asia is considered the least integrated region in the world with restrictions on the movement of people, goods, services and capital.

Feb. merchandise export earnings hit five-year high

Sri Lanka’s merchandise export earnings reached a five-year high barely missing the US$ 1 billion mark in February as exports recovered from the second COVID-19 wave that emerged in the final quarter of 2020.

Softlogic’s Odel to operate Arcade Independence Square from April

Softlogic Holdings subsidiary Odel PLC yesterday said it entered into an agreement with the Urban Development Authority (UDA) to lease,

Tourism authorities approve floating agro tourism resort project

The Bolagala Floating Agro Tourism Resort in Katana, the first of its kind in Sri Lanka, has received approval from the Sri Lanka Tourism Development Authority (SLTDA) to open its doors in June.

Manufacturing sector records highest NPLs in 2020

The sector-wise breakdown of non-performing loans (NPLs) showed that manufacturing sector had recorded the highest rate among others such as agriculture, trade, tourism, construction and consumption.

BreadTalk closure put off due to potential investor interest

R I L Property PLC will not suspend BreadTalk operations as announced, as the company is now in negotiations with a potential investor, who intends to acquire franchise rights.

Top economist proposes multi-pronged approach to rebuild economy

A multi-pronged approach is required to rebuild the hard-hit economy, which was already on downward path even before the pandemic struck, according to senior economist and former central banker Dr. W. A. Wijewardena.

Private sector proposes alternative to banning sachet packets

In an effort to reduce the carbon footprint of businesses, the private sector has proposed an Extended Producer Responsibility (EPR) initiative to be adopted as a more cohesive alternative to address the environmental issues created by flexible packaging in Sri Lanka.

23rd March: The history behind Pakistan Resolution Day

On a crisp spring day in 1940, under the shadow of the Badshahi Mosque, in a city that has been at the heart of the Muslim subcontinent for centuries, a group of men resolved to create a separate homeland for their people.

Odel to operate Arcade Independence Square

Softlogic Holdings subsidiary Odel PLC has entered entered into an agreement with the Urban Development Authority (UDA) to lease, operate and mange Arcade Independence Square for a period of 10 years commencing from April 1, 2021, with an option to renew for a further 10-year period subject to terms and conditions of the lease agreement.

BreadTalk closure put off due to potential investor interest

R I L Property PLC will not suspend the operations of BreadTalk as announced last week, as the company is now in negotiations with a potential investor, who intends to acquire the franchise rights.

Katana Agro Tourism Resort gets SLTDA nod

The Bolagala Floating Agro Tourism Resort in Katana, the first of its kind in Sri Lanka, has received approval from the Sri Lanka Tourism Development Authority (SLTDA) to open its doors come June.

Beggars can’t be choosers says Dr. Wijewardena

Present animosity against China or India must be stopped, said senior economist Dr. W. A. Wijewardena, if Sri Lanka is looking to become a developed country in the next generation, an ambition which requires a series of fixes in the economy.

Plantations Minister orders establishment of Kithul Development Board

Plantations Minister Ramesh Pathirana has ordered to establish the Kithul Development Board, to regulate and develop kithul (fishtail palms) as a main plantation crop in Sri Lanka.

Policy measures of SL less gender sensitive: UN Gender Tracker

Sri Lanka has been successful in implementing only seven policy measures that were gender sensitive during the COVID-19 crisis, much lower that the implementation of its regional peers such as Pakistan, India, anSri Lanka has been successful in implementing only seven policy measures that were gender sensitive during the COVID-19 crisis, much lower than the implementation of id Bangladesh that rolled out 14, 18, and 17 policies during the crisis.

FitsAir eyes major expansion in domestic and int’l operations

With the vaccines against the coronavirus gaining momentum in Sri Lanka and across the globe, Fits Aviation (Pvt.) Limited (FitsAir), Sri Lanka’s sole private sector-owned airline with operations in both cargo and passenger segments, eyes major expansions in its domestic and international operations, with a view to support the country’s exporters and to realise the country’s potential in tourism while positing air travel as a viable transport mod

Social perceptions on role of women must change

Sunimalee Madurawala is a Research Economist at the Institute of Policy Studies of Sri Lanka (IPS). Her research interests include health economics, gender and population studies. Madurawala holds a BA (Economics Special), with First Class Honours and a Masters in Economics (MEcon) from the University of Colombo. She is also partly qualified in CIMA-UK. Following are excerpts from an interview with her.

CB Governor bats for stable and shared growth

As the economy is expected to recover from a contraction in last year to a positive growth of 3.3 percent this year, the Central Bank yesterday stressed that the country does not need an episode of high growth but rather stable and shared growth to be sustained over many years.

CB enters into US $ 1.5bn swap deal with People’s Bank of China

The Central Bank of Sri Lanka (CBSL) and People’s Bank of China (PBoC) have entered into a bilateral currency swap agreement, with a view to promoting bilateral trade and direct investment for economic development of the two countries and to be used for other purposes agreed upon by both parties, a CBSL statement said.

China swap will boost SL’s near-term reserves: StanChart

In an about-turn, Standard Chartered Bank (StanChart) upgraded its outlook on the Sri Lankan economy, after the country received the approval from China’s Central Bank for a US $ 1.5 billion equivalent currency swap arrangement.

Plantations Minister orders establishment of Kithul Development Board

Plantations Minister Ramesh Pathirana has ordered to establish the Kithul Development Board, to regulate and develop kithul (fishtail palms) as a main plantation crop in Sri Lanka.

SL to ratify landmark ILO convention on workplace harassment

Sri Lanka’s Cabinet of Ministers has granted approval to ratify the landmark International Labour Organisation (ILO) Convention on Eliminating Violence and Harassment in the world of work and to draft sweeping new laws and regulations to prevent violence and harassment, including gender-based violence and harassment.

National inflation accelerates to 4.2% in February

Headline inflation, as measured by the year-on-year (YoY) change in the Natio nal Consumer Price Index (NCPI), increased to 4.2 percent in February 2021, from 3.7 percent in January 2021.

Hoteliers thank govt.; but say moratorium alone not enough

The Hotels Association of Sri Lanka (THASL) yesterday stressed that the moratorium alone is insufficient to tackle the ongoing crisis faced by the tourism sector and measures should be taken to extend an “innovative” stimulus package.

Worker remittance income continues to grow through Feb.

The remittance income from Sri Lankan migrant workers continued its climb in February, extending gains to its 10th consecutive month since last May.

CB inks US $ 1.5bn swap deal with People’s Bank of China

The Central Bank of Sri Lanka (CBSL) and the People’s Bank of China (PBoC) have entered into a bilateral currency swap agreement with a view to promoting bilateral trade and direct investment for economic development of the two countries, and to be used for other purposes agreed upon by both parties, a Central Bank statement said.

Local printers join Indian counterparts to protest against high cost of paper

The Sri Lanka Association of Printers (SLAP) is calling all printers in the country to observe a ‘Black Day’ today to protest against the unprecedented increase in the price of paper and other raw materials, which has resulted in the overall cost of production to expand significantly.

Policy-oriented research key to avoid growth stagnation: CB

Sri Lanka requires attention towards policy-oriented research activities, a pre- requisite if the country is to avoid growth stagnation, the Central Bank of Sri Lanka (CBSL) said this morning.

Deposit rates show signs of bottoming out

Deposit rates, which declined sharply throughout last year, appear to have ended their run, according to the latest available data for January 2021.