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Shipping during COVID-19: Why container freight rates have surged

By United Nations Conference on Trade and Development (UNCTAD) When the Ever Given megaship blocked traffic in the Suez Canal for almost a week in March, it triggered a new…

Sri Lanka lowers its apparel export earning target to $5.1 B

Sri Lanka has lowered its apparel export earning target to $5.1 billion for the year from the original $6 billion-target announced in January this year. “The government is enthusiastic to…

Second phase of GRI’s $100M Tyre Project to Be Commissioned in December

Global Rubber Industries (GRI) last week broke ground and laid the foundation stone for the second phase of a $ 100 million project with a new manufacturing facility in Badalgama,…

Sri Lanka’s fruit and Vegetable industry enters into MOU with WB’s Agriculture Sector Modernisation Project

The Lanka Fruit and Vegetable Producers, Processors and Exporters Association (LFVPPEA) have entered into a memorandum of understanding (MOU) with the World Bank’s (WB) Agriculture Sector Modernisation Project (ASMP) anticipating…

Sri Lanka’s trade deficit declines in October

Sri Lanka’s trade deficit declined by $320 million to $514 million in October compared to the preceding month, the Central Bank (CB) data showed. The $ 514 million trade deficit…

Sri Lanka allows importation of special bamboo sticks for incense stick production with tax relief

Sri Lanka‚Äôs Cabinet of Ministers decided to allow importation of special bamboo sticks for incense stick production with tax relief citing shortages in sourcing these bamboo sticks locally. The proposal…

Ceylon tea prices to sustain at current levels over the short-to-medium term – Asia Siyaka Commodities

A leading tea broker expects prices of Ceylon tea to sustain at current levels over the short-to-medium term betting on a continuous demand while the prices normalizes with supply constraints…