Reuters – The Sri Lankan rupee ended marginally firmer on Thursday, pulling away from a record-low, as dollar selling by exporters surpassed importer greenback demand after the island nation received more than half a billion dollars from a Chinese port operator, dealers said. After market hours on Wednesday, a state-run port authority said that China…
Global lender backed by largely Western Economies, the International Monetary Fund (IMF) yesterday (20) backed a floating exchange rate, labelling it as the “first line of defence” to protect Sri Lanka against external shocks, and called for enhanced implementation of structural reforms to speed up sluggish growth. Amidst inflation shooting up and deposit interest rates…
Gayantha Karunathileka, Minister of Land and Parliamentary Reforms had recently told reporters that five companies have shown interest in operating scheduled internal flights in Sri Lanka and that the government is keen to promote internal aviation services in the country. Accordingly a committee consisting of the Chairman of National Agency for Public Private Partnership and…
The final tranche of investment value for Hambantota Port concession was released by China Merchant Port Holdings Limited (CM Port) today. The cheque to the effect was handed over to the Chairman of Sri Lanka Ports Authority (SLPA) – Dr.Parakrama Dissanayake by the Chief Representative of China Merchant Group in Sri Lanka – Mr.Ray Ren…
Cabinet of Ministers approved the proposal made by Hon. Nimal Siripala De Silva, Minister of Transport and Civil Aviation, to enter in to a formal agreement on Aviation Services and execute the same, according to the agreement made between Sri Lanka and Thailand in Civil Aviation Summit 2017.
Envisions to supply 60% of the market demand by 2019 Ushering a new era for the local construction sector, Ceylon Petroleum Corporation (CPC) has commenced bitumen production at the country’s sole refinery located in Sapugaskanda. During a recent media briefing held in Colombo, Petroleum Resources Development Minister Arjuna Ranatunga noted that, “Understanding the rapid growth…
Reuters – Sri Lankan shares fell for a 10th consecutive session on Wednesday to their lowest close in more than 14 months, led by losses in lenders such as Commercial Bank of Ceylon Plc. The Colombo stock index ended 0.76 percent weaker at 6,217.91, its lowest close since April 5, 2017. “There were a few…
Sri Lanka’s Finance and Media Minister Mangala Samaraweera had said that government is aiming to change the Direct vs. Indirect Tax ratios to 40% vs. 60%, respectively by 2020. “We need to change this into a more balanced 40 – 60 ratio. This is the target we have for 2020” Finance and Media Minister told…
The Heart of Gulf -the gateway multi-billion Gulf market- is so impressed by the diverse and high-quality range of locally made exportable products in Sri Lanka, it even called them to be “viable investment opportunities for partnering”. “Specific Sri Lankan industrial product lines such as organic food, beverages and speciality jewellery are of high quality…
Introduces ‘Boost Your Business’ to southern Sri Lankan businesses in partnership with ICTA Continuing with its recently announced partnership with the Information and Communication Technology Agency (ICTA) of Sri Lanka to train local entrepreneurs in digital marketing skills, Facebook is bringing its globally renowned ‘Boost Your Business’ workshop to the southern region of Sri…
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