Inflation ( CCPI)-2.1% (Nov 2024)
GDP5.5% (3Q 2024)
Unemployment4.5% (1Q 2024)
3M T-Bill Rate8.66%
12M T-Bill Rate9.02%
2Y T-Bond Rate9.40%/ 9.50%
4Y T-Bond Rate10.45% / 10.55%
USD/LKR291/292
Reserves $6.46Bn (Nov 2024)
Cum. Trade Deficit $4,762 Mn (Oct 2024 cumulative)
Cum. Fiscal DeficitLKR 970Bn (Sep 2024 cumulative)

80 percent COVID-19 case of Saudi Arabia, Kuwait, the UAE and Bahrain are migrant workers

Global IndexesApr 26, 2020
80 percent COVID-19 case of Saudi Arabia, Kuwait, the UAE and Bahrain are migrant workers
In Saudi Arabia, COVID-19 infected cases surpass 15,000. According to government data, foreigners account for nearly 80 percent of the confirmed cases. In other Gulf countries like Kuwait, the UAE, and Bahrain, nearly all coronavirus cases are among foreigners, the Guardian reported. Many of these people live in camped labour camps. As per Internation Business Times, Amnesty International recently criticized Qatar after it deported migrant workers and stripped of salary and benefits even as the workers believed they were being taken for coronavirus testing. The country alleged that the workers illegally manufactured and sold banned substances, a charge they denied while speaking with Amnesty. Meanwhile, The Governments of Sri Lanka and Kuwait are in discussion to extend the amnesty period granted for over 19,000 Lankan workers who are currently out of status, in that country. Speaking on Sirasa TV the Secretary said through the ‘Contact Sri Lanka’ web portal and other means, to-date, over 27,000 OSLs have expressed their wish to return. This number includes over 17,000 migrant workers and dependents, 6,000 students and around 3,000 short term visa holders and tourists.

Disclaimer

Charts represents an assessment of the market environment as of the date indicated and it is subject to change; and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective.

The information presented does not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy or investment decision. This document contains general information only and does not take into account an individual’s financial circumstances. An assessment should be made as to whether the information is appropriate in individual circumstances and consideration should be given to talking to a financial advisor before making an investment decisions.