The International Development Association (IDA) of the World Bank has provided a loan facility of USD 70 million to strengthen the service provided by 134 Local Authorities in the Northern, Eastern, North Central and Uva Provinces under the Local Development Support Project (LDSP). The signing of this Loan Agreement took place on Tuesday the May…
Advantis Engineering, a subsidiary of Hayleys Advantis Limited, recently completed the first phase of the design, construction, furnishing and assembly of a pre-engineered boat manufacturing facility for BAFF Polymech at Ussangoda in Hambantota. Advantis Engineering has constantly strived to raise the bar of excellence in the construction and turnkey space solutions industry and the successful…
Says South Asia’s most advanced IMDG storage will enhance Port of Colombo’s capabilities and reputation Sri Lanka’s first, and South Asia’s most advanced, Dangerous Goods Storage Facility (DGSF) was commissioned on Friday, 10th May at the Colombo International Container Terminal (CICT) equipping the Port of Colombo with a sophisticated storage yard for cargo classified…
▪ Core Banking generates Rs 13 Bn in NII as compared with Rs 10.6 Bn last year ▪ Effective tax rate increases to 58.6% as compared with 43.6% last year Amidst challenging market conditions, Hatton National Bank posted a profit before tax of Rs 3.3 Bn and a profit after tax of Rs 2 Bn…
Reuters – Sri Lankan shares fell on Monday for an eight straight session, closing at their lowest in more than six-and-a-half years, and the rupee slipped for a third day in dull trade, as the Easter bombings drove off investors. ** Sri Lanka widened a curfew on Monday after attacks on mosques and Muslim-owned businesses…
Grants Waivers of Nonobservance of Performance Criteria and Approves US$ 164.1 million disbursement and Extension of the Arrangement Sri Lanka successfully brought the EFF-supported program back on track. Sustaining policy discipline remains critical to strengthen resilience and support strong and inclusive growth. Extension of EFF arrangement by one additional year will provide a policy anchor…
Kadugannawa, considered the gateway town to the central highlands and Sri Lanka’s sacred city – Kandy, is set to become the newest addition to South Asia’s nature immersion and spiritual rejuvenation tourism by end-2019. Due to its understated modernisation and absolute immersion in nature resulting in untouched landscapes, Kadugannawa is considered to be one of…
Age 15 years and above ‘Working Age’ household population increases by over 350,000 in 2018 Sri Lanka’s Labour Force participation rate has declined by 2.3% from 2017 to 2018 and the employed population has declined by about 200,000 or 0.2 million, Sri Lanka Labour Force Survey of the Department of Census and Statistics outlines….
Sri Lanka’s lately released Central Bank Annual Report highlights that total foreign grants received by Sri Lanka from multilateral and bilateral sources during 2018 increased to Rs. 12.5 billion from Rs. 8 billion in 2017. Accordingly, grants from multilateral sources declined significantly by 30.3% to Rs. 3.8 billion in 2018 compared to Rs. 5.5 billion…
Sri Lanka’s Government had suspended flight training near country’s biggest Air Force Base due to security concerns after ISIS terrorists killed more than 250 people last month on 21st April 2019, international reports outline. Reports said that Flight training has been suspended at Ratmalana, according to the country’s Civil Aviation Authority’s letter that was sent…
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