Cinnamon Air, Sri Lanka’s premier domestic airline, is proud to announce the launch of two new daily scheduled flights connecting Kandy and Sigiriya with the South Coast destinations Koggala and Hambantota. These flights are set to commence on 1st November 2024 and will operate until 30th April 2025, strategically timed to cater to the influx…
In terms of Section 70(1) of the Central Bank of Sri Lanka Act, No. 16 of 2023, the Central Bank of Sri Lanka released its annual Financial Stability Review (FSR) for 2024. This statutory report provides an assessment of the stability of the financial system, identifies and evaluates the associated risks and vulnerabilities, and outlines…
A Nation’s Fight for Economic Survival and Sovereignty, A Strategic Blueprint for Sri Lanka’s Currency Revival By Jithendra Antonio A Nation at the Crossroads Sri Lanka’s currency, the Sri Lankan Rupee (LKR), has faced an unrelenting battle over the years, weakening under the weight of global economic shifts, domestic instability, and mounting debt. The rupee’s…
Sri Lanka’s economy has stabilized, with growth expected to reach 4.4 percent in 2024, surpassing earlier forecasts. This positive outlook follows four consecutive quarters of growth driven by the industrial and tourism sectors and supported by critical structural and policy reforms, says the World Bank. Released today, the World Bank’s bi-annual Sri Lanka Development Update, titled Opening…
Sarath Ganegoda has been appointed as the new Chairman of SriLankan Airlines effective from today (09). Meanwhile, a new Board of Directors has also been appointed to Sri Lanka’s national carrier, under the chairmanship of Mr. Ganegoda. SriLankan Airlines’ new Board of Directors: 1. Mr Sarath Ganegoda (Chairman) 2. Mr Buddhika Hewawasam 3. Mr Sugath…
(Reuters) – Ratan Tata, the former Tata Group chairman who put a staid and sprawling Indian conglomerate on the global stage with a string of high-profile acquisitions, has died, the Tata Group said in a statement late on Wednesday. He was 86. Tata, who ran the conglomerate for more than 20 years as chairman, had…
President Anura Kumara Dissanayake held a key meeting today with senior officials from both the Sri Lanka Customs Department and the Inland Revenue Department at the Presidential Secretariat today (09). The discussions centered on strategies to enhance revenue generation and improve operational efficiency within both departments, in line with the government’s broader economic mandate. During…
In a groundbreaking achievement for the Sri Lankan stockbroking industry, SC Securities (Pvt) Ltd, a fully owned subsidiary of Sampath Bank PLC, has become the first stockbroking company in Sri Lanka to obtain the prestigious ISO 9001:2015 certification (as confirmed by SLSI) for its Quality Management System (QMS). The certification was awarded last month at a simple ceremony, where…
Fitch Ratings: The Sri Lankan authorities’ confirmation that they endorse the targets set under the country’s IMF programme, and intend to implement debt restructuring based on the terms agreed with international sovereign bondholders in September, reduces risks to the debt treatment process associated with the outcome of the presidential election on 21 September, says Fitch…
Real estate is property in the form of land & buildings, rather than personal possessions (Refer Collins). A historic analysis of human conflicts proves that most revolved around real estate. King Elara of South India (111BC) managed Sri Lankan real estate for nearly half a century thus recording a notable conflict (Ref. Mahavansa). Genghis Khan…
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