ILO and EY assess key bottlenecks for private sector investments in Northern Province

Ernst & Young (EY) was commissioned to conduct an assessment on the key bottlenecks for private sector investments in the Northern Province in agriculture and fishery sectors, amidst significant progress made by the International Labour Organisation (ILO) and its constituents, implementing the LEED project since 2011 in the Northern Province of Sri Lanka.

Import controls - out of control?

As the COVID-19 virus forced much of the world into lockdown, the scale of interdependence and reliance on trade across nations was apparent by the global urgency to re-open economies as soon as possible.

How should governments regulate technology in post-pandemic world?

Even before the COVID-19 pandemic struck, a combination of technological breakthroughs had been rapidly reshaping the way we lived and worked.

India’s rising infections and falling economic growth

On 2 July 2020, India’s Ministry of Health announced 226,947 active cases of COVID-19, with 17,400 lives lost.

Trade policy for Sri Lanka’s post-COVID Recovery and refocus

The pandemic is still in its early stages but the economic fallout is likely to be far worse than the global financial crisis of just over a decade ago. Initial data points to the worst slump since the Second World War.

Reimagining global value chains after COVID-19

COVID-19 is exposing the vulnerability of global value chains (GVCs). GVCs contribute to rapid economic growth by enabling multinational corporations to increase their efficiency through fragmented, task-based specialisation. But they are now quickly spreading the negative economic impacts of COVID-19 from China to many other countries.

A better focus towards a digital economy to revive business landscape

ACCA members have always played a key role in assessing the financial implications and risks faced by Sri Lanka in any crisis and now with the COVID-19 pandemic, they are helping to guide organisations through this challenge and playing a critical part in business continuity and planning for recovery.

Reforms for our micro and small businesses

Last Saturday was the UN World Micro, Small, and Medium Enterprises Day, and in light of that, focus should be given to Sri Lanka’s small businesses and the challenges they face.

Ecommerce ecosystem –Example from China

This article is presented in appreciation of China, the world’s second largest economy that went through difficulties due to the epidemic outbreak and now in the process of recovery.

SOE sector: Promises of change on horizon?

With the harsh reality of a global recession slowly descending on Sri Lanka, questions about government expenditure and its allocation of resources have begun to dominate dinner table discussions. Fears of higher taxation to cover the losses earned and to sustain the blows from the impending recession, have started to emerge.

Global debt and economic recovery

International Chamber of Commerce Chairman Paul Polman speaking at a top-level UN summit last week noted that a US $ 5 trillion trade financing capacity will be needed in 2021, to restore global commerce to its pre-COVID-19 trend.

Renewed thinking and focus to revive SL tourism

Sri Lanka ticks all the boxes of an irresistible tourism destination but repeated uncertainties have kept the island nation off the itineraries of its target audience on and off, for decades.

Navigating through pandemic: Apparel sector confident of braving the storm

The start of the coronavirus (COVID-19) pandemic in China last December sent ripples across the global economy but it certainly took time to realise that even the strongest industries would receive a painful hit from the club.

Treasury and Central Bank should consider credit guarantees for COVID-19 distressed bank loans

Even though Sri Lanka’s economy has opened up, businesses are still recovering from the dual shock of the locally imposed curfew as well as the global fallback from the coronavirus. A vast majority of Sri Lankan businesses are in need of support if they are to survive the next few months.

Outgoing WB Country Director highlights strengths, opportunities, challenges ahead for Sri Lanka

Outgoing World Bank Country Director for the Maldives, Nepal and Sri Lanka Idah Z. Pswarayi-Riddihough speaks about the highlights of her four years in Colombo. She also shares her thoughts on the opportunities she sees for Sri Lanka and wishes the people of the country the very best as they contend with the impacts of the global pandemic.

Regional Plantation Companies celebrate 27th anniversary

The 27th anniversary of the establishment of Regional Plantation Companies fell on June 23.

Tobacco cultivation: A threat to Sri Lanka’s food security amidst COVID-19

The prolonged curfew and lockdown measures introduced to contain the COVID-19 pandemic exposed the vulnerability of Sri Lanka’s food system.

The economy: What needs to be done?

Giving solutions to economic problems is a task which should receive a high priority to resolve socio-economic problems of the public. Giving a higher income to the hands of the people would resolve most of the problems in the society.

Sri Lankan smEs need some introspection

Many small and medium-sized enterprises (SMEs) complain about lack of access to finance, lack of government support, insufficient customer preference for local products and services and so on. While these may be true, these are not the only reasons some SMEs are unsuccessful.

Rebooting the economy: Restoring travel and tourism in COVID-19 era

A harmonised set of industry-wide health and safety protocols are necessary for travel and tourism to recover.

Rebooting Sri Lanka post COVID-19

The current economic slowdown in South Asia comes against the backdrop of a global public health crisis that has halted economic activities across many economies in the region and beyond. Growth in South Asia is expected to average 2-3 percent in 2020 and then improve to 4-6 percent in 2021.

Corona squeeze of Sri Lankan economy: A sectoral outlook

Given the stark choice between saving lives with no certainty vs saving livelihoods with some certainty, Sri Lanka, like some other countries, opted for the former and acted early. Would this wreak havoc in the Sri Lankan economy?

Low oil prices and Sri Lanka’s lost opportunities

Lockdowns across the world have caused trade and travel to grind to a halt. The demand for oil has plunged and the prices have crashed; futures for West Texas Intermediate, a grade of oil, briefly turned negative, touching a low of minus US $ 40.32.

Post-COVID trade order: Only the fast and the nimble will survive

Now that Sri Lanka has achieved a notable success in containing the danger posed by the COVID-19 pandemic to the health of the nation, the time has come for a concerted and decisive focus on reviving the economy. This is particularly timely, now that the economy has been removed from its ‘induced coma’, with the elimination of daytime curfew throughout the island.

Brewing a fresh Ceylon Tea cuppa: Private sector to lead way forward

Sri Lanka’s tea industry that has been in existence for over 150 years has certainly captured the world with its rich aroma. However, it continues to follow its old ways and that has led to a slowdown.

Covid-19 impact on Sri Lanka’s advertising industry

Advertising is the meaningful connecting bridge of brands and consumers! Building familiarity, awareness, increase sales and brand building are some of the key responsibilities of advertising. Even in an era when the media landscape is getting fragmented with fast innovation of digital media touch points, traditional media still becomes the choice of many brand owners as well as advertisers.

Shavendra addresses Ceylon Chamber committee on managing COVID-19

Lieutenant General Shavendra Silva, Chief of Defense Staff, Commander of the Sri Lanka Army, and Head of the National Operational Center for Prevention of COVID -19 addressed the monthly committee meeting of the Ceylon Chamber of Commerce on ‘The successful Management of COVID-19 pandemic in Sri Lanka and the way forward,’ recently.

No school, no meals: Sri Lanka’s battle against child malnutrition amidst COVID-19

Although Sri Lanka performs well in most health indicators, child nutrition remains a major issue. According to the Demographic and Health Survey (DHS) 2016, in Sri Lanka, more than 20 percent of children under five years, are underweight.

Ban it or approve it: Planters cannot wait as plants are already two years over matured

The plantations industry continues to offer employment to about 140,000 directly employed and to almost 1.5 million dependents during the countrywide shut down, owing to the COVID-19 pandemic.

E-commerce in Sri Lanka – A legal overview

The COVID-19-related lockdowns and the continuing need to follow social distancing rules even once the lockdowns are lifted, mean that we will not be going back anytime soon to what it was like in the pre-pandemic days. For businesses, this means an urgent re-evaluation and overhaul of business models to meet the many challenges inherent in the post-COVID-19 economic environment, including a seismic shift in consumer behaviour.