SDAs validity period extended
The Government introduced the Special Deposit Accounts (SDAs) on April 8, 2020 to seek assistance for the national effort to overcome the effects of the Covid-19 outbreak in the country.
As at October 7, 2020, total deposits in SDAs amounted to approximately USD 272 million. Considering the potential of SDAs to attract a substantial amount of foreign exchange into the country and the resultant positive impact on the foreign currency reserve position of the country and the overall economy, the Government has extended the validity period of opening SDAs up to April 7, 2021 on the recommendation of the Monetary Board of the Central Bank.
SLT, Mobitel launch Green Premier League
SLT and Mobitel launched a green initiative project with the Sri Lankan Premier League (LPL) 2020 - “SLT–Mobitel Green Premier League” (GPL), as a sustainable environmental conservation project.
According to the winning score of each team in every match of the LPL, SLT and Mobitel will plant the equivalent number of plants as forest restoration at Rajawaka forest reserve in Kalthota, Balangoda. Thus, by the end of the LPL tournament, SLT and Mobitel will have taken the necessary actions to plant possibly around 4,000 plants in the forest reserve and would have arranged a sustainable maintenance program with the Forest Department in accordance with UN sustainable development goals.
Oil prices slide ahead of OPEC+ meeting
(Bloomberg) --Oil fell before an OPEC+ meeting as powerbrokers in the alliance haggle over output policy after failed talks earlier in the week. Futures in New York traded near $45 a barrel.
Discussions are now focusing on proposals for a gradual easing of production cuts over several months, following talks between Russia, Saudi Arabia and the United Arab Emirates, said a delegate. There could be a one-month delay before the tapering starts, according to one delegate, though the Kremlin said it was too early to comment on any deal.