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Economy
Govt. to review minimum wage for migrant workers amid Middle East concerns
By:Leo Nirosha Darshan
Foreign Employment Minister Vijitha Herath tells Parliament Sri Lanka reviewing reintroduction of mandatory minimum wage for migrant workers under 2023-2027 National Policy
Says policy under review to balance…
The Double-Edged Sword: Female Labor Migration in Sri Lanka
By Leo Nirosha Darshan
Female labor migration is a huge part of Sri Lanka's economy and society. For decades, many Sri Lankan women have gone abroad, mostly to the Middle East, to work as domestic helpers and caregivers. These women are…
Prices of luxury watches in US rise after Trump’s Swiss tariffs
Switzerland’s watch industry is facing a threat to sales after Donald Trump said he would impose 39 per cent tariffs on the country, raising the prospect of significantly higher prices in one of its biggest markets.
The elevated levy…
Issues related to imports through Temu and other e–commerce sites solved, officials
Concerns pertaining to e-commerce platform taxation that affected products that were purchased through websites such as AliExpress, Amazon and Temu have been resolved, according to officials who were present during a meeting of the…
Global stock index falls, euro slides after US-EU trade deal
A global equities gauge fell on Monday while the euro took a tumble and U.S. Treasuries sold off as investors cautiously greeted a trade agreement between the U.S. and European Union at the start of an action-packed week for markets.
The…
Chinese-owned Volvo Cars to cut 3,000 jobs
Sweden-based car maker Volvo Cars says it will cut around 3,000 jobs as part of its cost-cutting measures.
The firm says the layoffs will mainly impact office-based positions in Sweden, representing about 15% of its white collar…
India overtakes Japan to become the fourth-largest economy: NITI Aayog CEO
India overtakes Japan to become the fourth largest economy in the world, Aayog CEO BVR Subrahmanyam has said.
Subrahmanyam says the overall geopolitical and economic environment is favourable to India. “We are the fourth largest economy…
Gold prices climb once again
Gold prices in Sri Lanka have seen a notable increase once again, according to the latest market data from the Colombo Gold Centre.
As of this morning (21), the price of a ‘sovereign’ of 22-carat gold at Sea Street in Colombo 11 has…
Chinese Minister’s Visit to Test Sri Lanka’s Stance on Risky FTA
Colombo, Sri Lanka – Chinese Commerce Minister Wang Wentao is anticipated to visit Sri Lanka in June, a visit that sources suggest may see Beijing press Colombo to expedite the finalization of a controversial Free Trade Agreement (FTA).…
Major currencies strengthen against US Dollar despite tariff hikes, says Fitch
Despite a significant rise in US tariffs, most major global currencies have appreciated against the US dollar since the start of the year, according to Fitch Ratings’ latest FX Market Monitor.
Fitch notes that developed market…