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Government figures show that tourism accounts for 4.9 percent of Sri Lanka's GDP. Around half a million Sri Lankans depend directly on tourism and two million indirectly.

Goetze said both countries also should work together in tackling global issues, including climate change, environmental protection and regional stability.

Globally, there were 40,411,186 confirmed coronavirus cases and 1,118,398 deaths as of Tuesday afternoon, according to a tally kept by the Johns Hopkins University in the United States.

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Gold was under additional pressure as the new home sales report released by the US Department of Commerce on Tuesday showed sales reached 901,000 units in July, the best reading of this measure since 2006.

Globally, digital sales of luxury goods increased by almost 12 percent in 2016, outpacing all other retail channels, according to market research firm Euromonitor International. Sales of luxury products are set to increase by an additional 50 percent in real terms over the next five years, accounting for almost 10 percent of all luxury sales.

Governments in many countries have imposed border controls, lockdowns and other restrictions to stem the spread of the coronavirus and prevent more outbreaks. But such measures come at a huge economic cost.

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Gordon Guo, the chef of Lai Heen, the Cantonese restaurant in The Ritz-Carlton Guangzhou which has received a coveted Michelin star, says that he is well-prepared to face the scrutiny that comes with the accolade.

Government spending in infrastructure investment is indeed of great efficacy in stimulating demand. Each 100 yuan spent in investment, accompanied by the additional loan funding from banks, could create demand worth more than that 100 yuan.

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Google has already established a dominant position in the search market – with control of?79 percent?of queries in the U.S., and?more than 90 percent?market share in Europe. It doesn’t need more help in warding off potential competitors by?giving it control over who gets access to new domain names. And, it’s possible that Google could access the data that flows over any other website who asks to register under a gTLD owned by Google, giving it even greater advantage over all other companies on the Internet.

Gu added that affordable luxury brands are witnessing significant growth, with the annual sales of men's clothing brand Boss Orange rising 13 times year-on-year, and Brooks Brothers and Michael Kors quadrupling over the same period.