Fitch Ratings: The Sri Lankan government’s budget highlights the authorities’ commitment to raising fiscal revenues as a share of GDP – an approach that, if successful, would alleviate a long-standing weakness in the sovereign’s credit profile, says Fitch Ratings. Nonetheless, risks to the fiscal outlook remain significant, and plans to slow the pace of fiscal…
India’s Adani Green Energy announced its decision to withdraw from its proposed 484 MW renewable energy wind farm project in Mannar and Pooneryn—a move that could have saved Sri Lanka over US$270 million annually by displacing costly fossil fuels. The cancellation not only undermines the nation’s efforts to attract foreign direct investment and expand its…
The Sri Lanka Export Development Board (EDB), the host institution of SheTrades Sri Lanka Hub, in collaboration with the International Trade Centre (ITC), successfully conducted a two-day training on Branding and Digital Marketing under the SheTrades Commonwealth+ Programme, funded by United Kingdom (UK) International Development. The training, held on 13th and 14th February 2025 in…
Aitken Spence held its first flagship Disaster Risk Reduction (DRR) programme recently to bring awareness to the importance of looking at increasing resilience building mechanisms, practical process creation for disaster response and always looking at reducing hazards be it natural or man-made. The exacerbation of the climate emergency has led to the increasing importance of…
Alliance Finance Company PLC (AFC), the pioneer and leader in sustainable finance, proudly announces the issuance of Sri Lanka’s first Green Bond by a Non-Banking Financial Institution (NBFI). This groundbreaking initiative reinforces AFC’s commitment to advancing Sri Lanka’s green economy and accelerating the transition towards a low-carbon, climate-resilient future. As an institution deeply rooted in…
President Anura Kumara Dissanayake highlighted that due to the mismanagement of public finances by previous administrations, the country had fallen into bankruptcy and is currently operating under a probationary period of the International Monetary Fund (IMF) program. Given this situation, he emphasized that the Budget 2025 has taken the initial steps towards building a strong…
Introduces first-ever smart transformer technology to the nation’s rooftop solar installations Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited, has successfully completed the design, supply, installation, and commissioning of a groundbreaking 6.9 MW rooftop solar photovoltaic (PV) system for Access Logistics Private Limited in Negombo – the largest single solar roof installation ever…
A discussion led by Dr. Hans Wijayasuriya, Senior Advisor to the President on Digital Economy Affairs, was held at Sri Lanka CERT to reinforce cybersecurity measures in alignment with the government’s digital economy policy. The meeting emphasized the importance of proactive steps to enhance national cybersecurity resilience. The discussion was attended by Sri Lanka CERT…
Fitch Ratings-Hong Kong/London-18 February 2025: The US administration’s inclusion of a broad range of factors in its assessment of whether trade relations with foreign trading partners are fair and reciprocal will increase uncertainty over the scale of tariffs that could be introduced, and which markets could be affected, says Fitch Ratings. Sovereigns that have significant…
The Executive Board of the International Monetary Fund (IMF) is scheduled to meet on February 28, 2025 to discuss and approve third review of Sri Lanka’s Extended Fund Facility (EFF) programme. The IMF staff and the Sri Lankan authorities reached a staff-level agreement on the Third Review of Sri Lanka’s EFF program on November 23,…
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