After constructive discussions with the authorities in Colombo and during the Spring Meetings in Washington DC, Manuela Goretti, the IMF mission chief for Sri Lanka, issued the following statement: “The IMF team reached a staff-level agreement with the Sri Lankan authorities on the fourth review under an economic reform program supported by a three-year Extended…
A record number of Sri Lankan small and medium scale business delegates participated at the Commonwealth Business Forum that was held from 16-18 April in London held alongside CHOGM 2018. Organized by the Commonwealth Enterprise and Investment Council, the Business Forum was held in three iconic venues namely Guildhall, Mansion House and Queen Elizabeth II,…
Reuters – Sri Lankan share index slipped on Thursday from a five-week closing high hit the previous day, snapping a six-session winning streak, as investors offloaded select blue-chip stocks in low volumes. Many market participants stayed away due to extended holidays after the Sinhala-Tamil New Year festival last weekend, brokers said. The Colombo stock index…
The Ceylon Petroleum Corporation’s (CPC) Sapugaskanda Oil Refinery successfully completed a colossal 35-day overhaul and renovation programme recently, aimed to boost efficiency, reliability and productivity of the refinery. The 50-year-old facility, which is the only oil refinery in Sri Lanka, refines imported crude oil to supply 30% of the energy demand of the nation. The…
Bloomberg – Each year roughly 60,000 ships vital to the global economy sail through the Indian Ocean past a Chinese-operated port on the southern tip of Sri Lanka. Almost none of them stop to unload cargo. The eight-year-old Hambantota port – with almost no container traffic and trampled fences that elephants traverse with ease –…
The UK’s Secretary of State for International Trade Liam Fox says that the Government of Britain is ready for direct investments in Sri Lanka, while increasing the investments in the country. He further said that the necessary process in this regard will be implemented in the near future. President Maithripala Sirisena who is in London…
Oil prices will rise to $100 per barrel if Saudi Arabia gets its way. Only a week ago, news surfaced that Saudi officials were quietly hoping to push oil prices up to $80 per barrel, which would help boost the valuation of Saudi Aramco IPO. But why not $100 per barrel? Reuters reports that Riyadh would…
Reuters – Sri Lankan share index ended at its highest close in more than five weeks on Wednesday, gaining for a sixth straight session, but many market participants stayed away due to extended holidays after the Sinhala-Tamil New Year festival last weekend. The Colombo stock index ended 0.12 percent higher at 6,551.83, its highest close…
An opportunity for global companies to set up Captive InnovationCentres in Sri Lanka Leverage Sri Lanka to be your ‘Digital Gateway to Asia’ to test and service Asian markets Invest in global “Digital Disruptors” that are developing domain-specific, transformative IP and business products The National Brand for theSri Lanka ICT/BPM sector was launched in…
‘Our Government’s “Blue-Green” economic plan will ensure the full utilization of the ocean and other natural resources of Sri Lanka in an environmentally friendly and sustainable manner’, said President Maithripala Sirisena delivering the keynote address at the Commonwealth Business Forum, today (18 April). I call upon everyone present here to join hands with the Commonwealth…
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