Hit by a downturn in economic activity due to the second COVID-19 wave Sri Lanka’s trade deficit in November shrank by $ 198 million while overall it recorded a reduction of $ 1.79 billion for the first 11 months of 2020, latest data from the Central Bank showed yesterday.

Workers’ remittances recorded a notable increase in November 2020, rising 18.7% to $ 612 million and increasing the total for the first 11 months to $ 6.2 billion.

LOLC General Insurance, a fully owned subsidiary of the LOLC Group, recently became Sri Lanka’s first general insurance company to achieve Rs. 6 billion Gross Written Premium (GWP) in less than 10 years.

The International Monetary Fund (IMF) has offered the option for Sri Lanka to take it or leave the last tranche of Extended Fund Facility (EFF) that would also unlock substantial multilateral and bilateral financing (possibly debt relief as well),

BEIJING (Reuters) - Chinese exports grew more than expected in December, customs data showed on Thursday, as coronavirus disruptions around the world fuelled demand for Chinese goods even as a stronger yuan made shipments more expensive for overseas buyers.

WASHINGTON (Reuters) - U.S. import prices increased more than expected in December, boosted by higher prices for energy products and a weak dollar, suggesting inflation could pick up in the near term.

The Cabinet of Ministers this week granted approval to implement the provisions of the proposed Standard Operating Procedure (SOP) for manufacturing, assembling and manufacturing of spare parts of vehicles in Sri Lanka, which was lobbied by the country’s Automotive Component Manufacturers, led by the Sri Lanka Automotive Component Manufacturers Association (SLACMA).

The re-opening of the country for global tourists from next week was promoted in Germany by Sri Lankan Ambassador Manori Unambuwe via a key webinar.

Japan has banned citizens of Sri Lanka and 10 other countries from entering its borders as a precaution to stop the spread of COVID-19.