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Weekly Wrap - 22nd Nov

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From contemplating if Sri Lanka is ready for digitized banking, to the effects of overdevelopment and more — here’s your weekly wrap.

A series of curated editorial content to keep you informed on all that’s happening locally and regionally by the end of the week. 

 

Sri Lanka's presidential election significantly increases policy uncertainty and could prompt loosening that exacerbates fiscal weaknesses and a rollback of reforms. However, whether these risks materialise remains to be seen as a clear policy direction may only start to emerge after parliamentary elections. Though the policy environment in Sri Lanka has improved following the 2019 political crisis, this editorial by Fitch Ratings highlights that political tensions can resurface once again.
 

Is Sri Lanka ready for a digitized banking environment? The banking industry is undergoing a major digital transformation. A new report by Oracle Corporation states key attributes of successful digital banking. Here is what Sri Lankan banks too could implement to attain a highly successful digital banking system.

 

Development and construction is needed for tourism — but overdevelopment could destroy the tourist industry. The lack of building codes, among few other reasons, contribute to this. Ravi Ratnasabapathy, an independent consultant and economist, outlines the consequences of overbuilding in Sri Lanka.

 

Asia will need $800 Billion Over the Next Decade to Feed Itself. The region is urbanising rapidly, and will be home to 250 million more people by 2030. As of now, Asia is unable to feed itself and relies on imports flowing through long supply chains from across the globe. Read more about why Singapore, Tokyo, Beiging and Mumbai are racing towards becoming ‘agri-food tech hubs’, here.

 

What more would you like to read about? Let us know in the comments.

The Ceylon Chamber of Commerce

Aisha Nazim

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