The Sri Lanka–Indonesia Business Council of the Ceylon Chamber of Commerce undertook a successful business promotion mission to Indonesia, from 06 to 11 October 2024. The delegation consisted of 14 Sri Lankan business professionals from various sectors, including food & beverage, logistics, pharmaceuticals, apparel, travel, IT, and recreation industries. The tour covered several business forums,…
The Bentota Celestia Ayurveda resort, the latest addition to Sri Lanka’s tourism industry, boasts an investment of Rs. 28 billion and spans over 6 acres of land, housing 65 luxurious rooms, five of which are villas. The Board of Investment of Sri Lanka is facilitating this new enterprise in the tourism sector and will continue…
By Sulochana Silva and Rashmi Anupama Sri Lanka’s recent Value Added Tax (VAT) revisions have placed a heavier burden on lower-income households, who now spend 10% of their income on VAT. This tax burden, along with broader issues in taxation, welfare, and healthcare, was a central focus at the Institute of Policy Studies of Sri…
Unilever Sri Lanka, in partnership with Vega Innovations, and the United States Agency for International Development’s (USAID), is scaling up the use of refillable stations. These stations, part of Vega Innovations’ UFill initiative, offer consumers cost-effective ways to refill Unilever products such as laundry liquids and shampoos, while reducing reliance on single-use plastic packaging. By…
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…
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