By Indika De Zoysa As Sri Lanka emerges from years of economic challenges, the vision set forth by the DIGIECON 2030 program recently to drive the nation’s economy towards an inclusive digital landscape is both timely and promising. The State Minister of Technology, Kanaka Herath, has rightly highlighted the need to leverage advanced technology-based solutions…
Under the current FTA, Sri Lanka is permitted to export 8 million pieces of ready-made apparel to India without applicable duties. The JAAF (Joint Apparel Association Forum), the apex body of Sri Lanka apparel is hopeful to move beyond this quota, as FTAs carry the propensity to offer immense trade opportunities for both countries. As…
UNESCO intangible global cultural heritage program recognizes ‘Mazu’ or ‘Matsu’ as the most influential goddess of the sea in China. The Chinese sea goddess is influential in countries & regions along the Maritime Silk Road. Before typhoons, sailors would claim to see the bright red robes of the goddess on the water signaling the arrival of the…
The Longquan sword invented approx 2600 ago by master sword smith Ou Yezi is the most famous sword in China. Named after Longquan city in East China it is considered a symbolic step towards weapon development in Great China & the world. Master sword smith Ou Yezi has made three high quality valuable swords (Longquan,…
Jacques Vidal used the term “brain-computer interface” in a paper titled “Toward Direct Brain-Computer Communication.” in 1973. He was referring to the direct link between a human/ animal brain & an external device with computing abilities which allowed information exchange between the brain & the device. Over the years technology developed & is now known…
UNESCO recognized SL history chronicle “Mahavamsa” as a world heritage. It records island’s path as per the memories/ views of respective editors. Mahavansa describes in approx. half a paragraph about the services of King “Mahasen” who still is venerated by the masses as “God Mahasen”. The ‘Abayagiriya’ sthupa which is bigger than the ‘Ruvanweliseya’ is…
Fitch Ratings has downgraded Sri Lanka’s Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to ‘C’ from ‘CC’. The issue ratings on local-currency bonds have also been downgraded to ‘C’ from ‘CC’. The Long-Term Foreign-Currency (LTFC) IDR has been affirmed at ‘RD’ (Restricted Default) and the Country Ceiling at ‘B-‘. A full list of rating actions is…
Fitch Ratings-Colombo/Hong Kong/Singapore-04 July 2023: The Sri Lankan government’s proposal for treatment of domestic debt marks a significant step towards resolving uncertainties around the impact of the sovereign’s debt restructuring on the local banking sector, but complications may arise from a number of factors, says Fitch Ratings. The proposal excludes banks’ holdings of Sri Lankan…
Biz confidence remains muted as the pros and cons on the economic front even out Could there be a silver lining for Sri Lanka Inc. following the gradual fall in inflation? The answer hangs in the balance despite a notable decline in the Colombo Consumers Price Index (CCPI) to 25.2 percent in May – from…
Reuters – As Pakistan spiralled into crisis this year, Wilson Muthaura pressed its government to put the tea Kenya’s KTDA co-operative produces 3,400 miles away on a list of essentials that would grant importers access to precious U.S. dollars. His urgent lobbying reflects anxiety about a scarcity of dollars – the lifeblood of global trade…
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