The Kaluganga Development Project is being implemented by the Ministry of Mahaweli Development and Environment with the financial assistance of Saudi Fund for Development (SFD), Kuwait Fund for Arab Economic Development (KFAED) and OPEC Fund for International Development (OFID). Kaluganga Reservoir has a capacity of 265 million cubic meters (MCM) of water and will…
The Ceylon Chamber of Commerce has appointed Mr. Shiran Fernando as its new Chief Economist, effective from 16th October, 2017, following the resignation of Mr. Anushka Wijesinha. Fernando, who holds a Bachelors in Economics and Finance from the University of London International Programmes, previously functioned as the Lead Economist and Senior Product Head at Frontier…
Sri Lanka under the unity government headed by President Maithripala Sirisena and the Prime Minister Ranil Wickremasinghe is poised to leapfrog the economy after long years of conflict and political instability. The Minister of Finance and Mass Media Mangla Samaraweera stated this when he met with the Vice President of the World Bank Ms….
Reuters – Sri Lankan shares rose for a fourth straight session on Friday and posted their highest close in more than 10 weeks, as investors bought beverage and diversified stocks, brokers said. The Colombo stock index ended 0.16 percent firmer at 6,632.30, its highest close since July 31. It rose 1.6 percent this week in…
Minister of Finance and Mass Media Mangala Samaraweera who is in Washington, on the sideline of the WB/IMF annual meeting, met Ms. Fatema Z. Sumar, the Regional Deputy Vice President for Europe, Asia, Pacific and Latin America in the Millennium Challenge Corporation (MCC) to review the progress of its 5- year Grant Compact to Sri…
Minister of Finance and Mass Media Mangala Samaraweera represented Sri Lanka at the meeting of the Finance Ministers of the Commonwealth Countries (CFMM) held at the headquarters of the International Monetary Fund in Washington DC, USA on Thursday (12th Oct.). Canada chaired this year’s meeting where 52 Finance Ministers of member states across six regions…
SBS – International students will be tested on their grasp of the English language under a scheme to be introduced in 2018. Education Minister Simon Birmingham will tell an education conference in Hobart on Thursday the government will introduce new English language standards for students in 2018. English Language Intensive Courses for Overseas Students will…
Reuters – Sri Lankan shares rose about 1 percent on Thursday in heavy trade and posted their highest close in more than 10 weeks, with banks leading the gains, brokers said. Turnover was 1.43 billion rupees ($9.30 million), well above this year’s daily average of 938.4 million rupees. The Colombo stock index rose for a…
Minister of Finance and Mass Media Mangala Samaraweera met the Director South Asia of the International Finance Corporation (IFC) of the World Bank – Mengistu Alemayehu in Washington on Wednesday (11th Oct.). Wide ranging discussions focused on ways and means of enhancing mutual co-operation to promote private sector contribution for the economic development of Sri…
WASHINGTON — The World Bank released the following statement concerning erroneous reporting in Sri Lanka: There are allegations in the media in Sri Lanka referring to the announcement on September 28 by the World Bank of the debarment of SMEC International Pty. Ltd., a subsidiary of SMEC Holdings Pty. Ltd., for 12 months. These allegations…
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