Sri Lanka’s economy after COVID-19

We implemented a proper methodology to defeat the threat of the coronavirus (COVID-19). Our next requirement is to win the economy by following an appropriate similar mechanism to overcome economic problems.

Sri Lanka’s response to COVID-19 has been noteworthy and needs to stay on course

Sri Lanka has reported 1730 cases of COVID-19 as of June 3. The authorities and the medical staff have responded effectively to the crisis and need to say on course. The effort is being acknowledged in the region as an example. The challenge from now on would be to stay on course and not lose the gains.

Fast-tracking export resilience: Renewed thinking, renewed strategies

Exports play an important role in a country’s economy as they influence the level of growth, employment and balance of payments. For Sri Lanka, the focus on exports is now more important than ever, as the island nation looks to bring in foreign currency to boost the economy.

Could COVID-19 lead to a positive disruption in tourism industry?

Tourism is probably the worst affected industry from the outbreak of the COVID-19 pandemic. Sri Lanka is yet to feel the economic and social impact of the unprecedented global lockdown and travel restrictions, which are likely to remain until the third quarter of 2020.

There is high expectation for better China-US relations post COVID-19

Acting Chinese Ambassador in Sri Lanka Hu Wei in this interview says he is confident of a bright future for China-Sri Lanka relations and says certain western politicians are attempting to make China the scapegoat for their negligence. As of 2019, the US has the largest economy and China the second largest.

Cigarette Taxation: Rs. 20 billion extra revenue in 2020, if indexation implemented

The Sri Lankan government is facing a budget and revenue crisis triggered by the mitigation measures taken to reduce the spread of Covid-19.

Plan well for sustenance for your small business after Covid-19

Small and Medium Scale Enterprises make up a large part of Sri Lanka’s economy, accounting for 80 percent of all businesses.

Do fair-weather tech companies need regulating?

COVID-19 is creating a great deal of disruption in the market. Technology itself, which was seen as the great saviour for most companies, is having a reverse effect on some, which were founded on a tech base.

Reducing health costs and increasing govt. revenue beyond COVID-19

The susceptibility of smokers to contract COVID-19 has been recognised by the World Health Organisation (WHO) and other medical authorities. In Sri Lanka, concerned parties have called for a temporary ban of cigarette sales as a measure to contain the spread of the virus – a commendable move.

Operation COVID-19: Sixty-day battle to tackle food security

Sri Lanka has emerged as the ‘shining star’ in the efforts to tackle the COVID-19 pandemic. However, the global economic recession has started impacting the country at all levels.

Pathfinder suggests priorities for Sri Lanka’s post-COVID economic recovery

The Pathfinder Foundation (PF) recently presented a report to President Gotabaya Rajapaksa, Prime Minister Mahinda Rajapaksa and Special Envoy of President and Chairman of Task Force on Economic Revival and Poverty Alleviation Basil Rajapaksa, containing a set of action-oriented recommendations from an eminent persons study group, aimed at steering Sri Lanka into a post-COVID-19 era of economic recovery.

Suggested revival plan for Sri Lanka’s economy in post-COVID-19 era

COVID-19 has battered the world with its viral and deadly impact, with millions of people being affected and hundreds of thousands dying. At the same time, the virus and its aftermath has wrecked the economies of almost all countries and is now leaving a devastating trail of bankruptcies, livelihood losses, evaporation of savings, debt defaults, economic and corporate collapses and hopelessness.

Legal dimensions of employer-employee relationship in the new normal

Along with the massive shock, the COVID-19 pandemic has brought in a series of uncertainties, particularly with regards to employment. With strict limitations being enforced on people’s movement by way of a two-month-long curfew to constraint the virus from spreading, the government called on the public and private sector to work from home to keep the ball rolling.

New face of hunger: Building a resilient food system in Sri Lanka in an age of pandemic

COVID-19 is dealing an unprecedented blow to economies around the globe and the health risk is only the tip of the iceberg. Among the many impending crises resulting from the pandemic, rising food insecurity, due to the lockdown measures, is one of the most critical.

Stock market was not closed. It was not possible to open it

In his first interview with the media, the newly appointed Securities and Exchange Commission (SEC) Chairman Viraj Dayaratne PC talks about the unprecedented challenges he and his new Commission Members had to face and the tough decisions they had to make on the country’s already lagging stock market, amid the COVID-19-induced curfews and economic slowdown.

Ceylon Chamber proposes multisectoral approach for post-COVID-19 economic revival

The Ceylon Chamber of Commerce submitted its multi-sectoral proposals to the Task Force for Economic Revival and Poverty Alleviation. This was building on the submission made to the President on a Shared Vision for Post-COVID-19 Economic Recovery.

Leading your biz through turbulent times of COVID

If there is one thing consistent about business, it’s the inconsistent dynamics of the environment.

How SRI LANKA can thrive as an ideal higher education destination

With Sri Lanka being commended for its highly successful measures in containing the novel coronavirus, which led to a global pandemic, whilst many developed nations failed to do so, it’s an ideal moment for the country to be positive and turn this crisis into an opportunity, especially when it comes to higher education.

Sri Lanka’s FDI quandary: Profit repatriations exceed investment inflows!

The recently released 2019 Central Bank annual report reveals that repatriation of profit by foreign-owned firms or foreign direct investment (FDI)-backed firms in Sri Lanka continue to increase. Profit repatriation (or dividend outflows) in 2019 has reached US $ 599 million, compared to the US $ 494 million actual new FDI inflow into the country.

Another COVID-19 challenge: Saving Asia’s crucial infrastructure deals

The economic downturn caused by COVID-19 is the greatest economic calamity since the Great Depression and is disrupting the construction, operation and maintenance of infrastructure services globally. Throughout Asia and the Pacific, this could cause serious delays in the construction of roads, schools, hospitals, ports, airports and other critical pieces of infrastructure financed by public-private partnerships (PPPs).

Indonesia to hack the crown in US-China trade war

On the one hand, when the coronavirus is proving itself as a nightmare to the whole world, on the other, it stood as a stroke of luck for Indonesia.

Repatriation and replacement of lost foreign jobs: Handling labour migration in Sri Lanka during COVID-19

Sri Lanka, which has been sending workers abroad for employment for decades, is now faced with the formidable challenge of repatriating large numbers of migrant workers affected by COVID-19.

Business cannot wait until vaccine found

World leaders wanting to end the lockdown and allow their people to move about and contribute to the national economy because many are drowning in bills as they remain shut due to the COVID-19 lockdown, will have to monitor closely for new infections and adjust the health controls they have in place until there is a proper vaccine for COVID-19.

The next challenge in lockdown education — Examinations

The COVID-19 lockdown has been a great leveler, as various sectors across the world struggle to maintain status quo.

Rebooting economy during COVID-19

Economies across Asia and the Pacific—like in much of the world—have been hit hard by the coronavirus outbreak. To slow the spread of the virus, many governments have chosen to impose lockdowns and travel bans. While vital, these measures have also had severe economic impact. The Asian Development Bank estimates that Asia is likely to lose 68 million jobs, if the pandemic goes on until September.

Brewing up change under COVID-19: Transforming how tea is bought and sold in Sri Lanka

Picking, sorting, processing and grading tea leaves make up the fabric of life in Sri Lanka. And ensuring that people around the globe get their daily cups of chai, Earl Grey, English Breakfast or Orange Pekoe, is crucial to the local economy and jobs.

Recommendations for ‘virtual work life’

I recently attended a large virtual meeting. The topic was timely but several things went wrong: the host joined late, we were entertained by background ‘home’ noises, people interrupted each other, the chat feature wasn’t used and the host left the meeting before us!

What APAC companies need to do to drive region into new ‘Asian age’

Asia’s economy dominated until the 19th century, before being knocked off its pedestal by Europe and then the US. Since then, while the region has grown to become home to more than half the world’s population and soon half of the world’s middle class, it has not yet retaken this financial crown.

COVID-19 impact on economy and possible opportunities

One of the biggest challenges seen due to the coronavirus outbreak is the socio-economic downfall with over 200,000 deaths around the world without any cure at the moment (by end April 2020) (Source: World Health Organization – WHO).

COVID-19 urgently needs global response

People all over the world are increasingly standing in solidarity with one another to beat the virus. The COVID-19 pandemic will inevitably wreak its worst on the people, communities, and countries that are least able to withstand the shock or to provide a defence against it.