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The corona virus outbreak and the resultant prolonged business disruptions will put additional pressure on Sri Lankan finance and leasing companies' (FLCs) earnings and asset quality, says Fitch Ratings.

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The government has taken steps to suspend Sri Lankan residents from making payments through Outdraw Investment Accounts (OIA) for overseas investments for a period of three months.

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The Asian Development Bank (ADB) in its latest report, Asian Development Outlook (ADO) 2020 released on Friday (3) forecasted significant headwinds for Sri Lanka’s economy as it fights the spread of COVID-19, which comes less than 12 months after the terror attacks in April 2019.

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If the first ever online auction of tea created history last Saturday, then bidding for best of flavour and quality on offer on a Poya day yesterday was unprecedented in the annals of Sri Lanka’s tea industry.

Wednesday, 08 April 2020 09:09

Coconut auction goes online tomorrow

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Online platform to unite auctioneer, brokers and suppliers
Export demand unchanged so far but marginal price drop locally
Restrictions loosened to support sector

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During this time of crisis in our land, as well as globally, Sri Lanka’s apparel sector has taken up the responsibility to equip brave healthcare workers with the appropriate clothing as they serve in the frontlines of our battle against COVID-19.

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Sri Lanka’s limiting and banning of imports of non-essential items is a welcome step in the face of the COVID-19 pandemic-and more so for the revival of the country’s agri-SME sector.

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Covid-19 ridden Maldives and Bhutan two SAARC members have made requests from India and Sri Lanka to provide them with essential food stocks as humanitarian assistance at this time of difficulty.

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Sri Lankan essential commodity importers and traders say that they cannot sell essential food items such as dhal, canned fish and big onions at the Maximum Retail Prices(MRP) imposed by the government.

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Industrial Export, Investment Promotion, Tourism and Aviation Minister Prasanna Ranatunga said yesterday the government has decided to extend the Rs.5, 000 allowance granted to Samurdhi beneficiaries to those engaged in the Tourism sector affected by the battle to contain the COVID-19 pandemic in the country.

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