Sri Lanka’s economy recorded a 5.0% growth in 2024, marking a recovery from contractions in the previous two years, according to the latest National Accounts Estimates released by the Department of Census and Statistics (DCS). The country’s Gross Domestic Product (GDP) at constant prices increased to Rs. 12,472 billion from Rs. 11,878 billion in 2023,…
Reuters – Gold hit another record high above $3,000 on Tuesday, with investors seeking the metal as a haven from risk as conflict flared in the Middle East and U.S. President Donald Trump pressed on with tariff plans. Spot gold hit a peak of $3,028.24 in early trade, and by 0927 was up 0.7% at…
Cipla and Formosa sign multi-regional licensing deal for Clobetasol Suspension This partnership aims to enhance ophthalmic care by providing better treatment for post-operative inflammation and pain in patients across 11 countries. Taiwan-based Formosa Pharmaceuticals (6838.TW) today announced an exclusive licensing agreement with Cipla Limited (BSE: 500087; NSE: CIPLA EQ) referred to as “Cipla” for the…
Strengthening Food Safety in Sri Lanka: The European Union Delegation, Ministry of Health and Mass Media and FAO Host Panel Discussion and Media Knowledge-Sharing Event under the BESPA Project The Food and Agriculture Organization of the United Nations (FAO), supported by the European Union (EU) and in partnership with the Ministry of Health and Mass…
The digital services sector in Sri Lanka has witnessed new tax measures introduced in the latest national budget, which mark a significant shift in the industry’s financial landscape. While these measures present challenges, the industry remains steadfast in its commitment to growth, innovation, and resilience. The Ministry of Digital Economy, in collaboration with key industry…
National Development Bank PLC (NDB) conducted its Investor and Analysts Earnings Call on 12th of March, following the release of the financial results and annual report for the full year ended December 31, 2024. The session, led by Kelum Edirisinghe, Director and Chief Executive Officer of NDB Bank, along with the bank’s senior management team,…
Purchasing Managers’ Indices indicate expansions in both Manufacturing and Services activities in February 2025. Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 56.8 in February 2025, indicating a continued expansion in manufacturing activities. This expansion is attributable to the positive contributions from all sub-indices. Most of the firms,…
The Hindu – The Adani Group is still keen to get Adani Green Energy’s $1-billion renewable energy power project in Sri Lanka back on its agenda, sources said. In February, the company had said it had decided to withdraw from the project, but it has maintained a foot in the door, as both sides are likely…
President Anura Kumara Disanayake emphasized the necessity of providing high-quality infrastructure and services for tourists visiting Sri Lanka, as the country has gained significant international recognition as an attractive tourist destination. Accordingly, the President instructed officials to pay special attention to this matter and take necessary actions. President Disanayake issued these instructions during a discussion…
Sri Lanka’s importers and exporters have been provided with a sophisticated new digital platform for all their trade finance requirements by the Commercial Bank of Ceylon, the single largest private sector facilitator of the country’s international trade via a gamut of trade-related services. ‘ComBank TradeLink’ is a seamless, intuitive, user-friendly and future-ready digital front-end that…
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