Reuters – Sri Lanka said on Wednesday it expects its foreign exchange reserves to rise above $4 billion this month, their highest level since the island nation plunged last year into its worst economic crisis since independence in 1948. The “higher than anticipated” rise follows the inflow of $787 million in funds this month from…
A news report from China’s Diplomacy in the New Era (chinadiplomacy.org.cn): The 2023 forum on “Benefiting All Mankind: Dialogue with the Silk Road” was convened in Beijing on Dec. 6, 2023 with a combination of online and offline participation. Themed “Carrying on the Silk Road Culture to Jointly Promote the Well-Being of the People”, the forum brought together representatives from governments,…
Reuters – Toshiba (6502.T) was delisted on Wednesday after 74 years on the Tokyo exchange, following a decade of upheaval and scandal that brought down one of Japan’s biggest brands and ushered in a buyout and an uncertain future. The conglomerate is being taken private by a group of investors led by private equity firm Japan Industrial Partners(JIP) that also…
The World Bank released the second tranche of the US$500 million Sri Lanka Resilience, Stability and Economic Turnaround (RESET) Development Policy Operation (DPO), considering the continued satisfactory progress made by government with the reform program. The RESET DPO, which provides budget support to the government was approved on June 28, 2023. This is the first in…
The tea industry which is exempted from VAT until now is subject to an 18 percent VAT from 1st January 2024. While it is understood that in order to resurrect the country’s financial stability, we have to widen the tax net and the VAT, the high VAT on a commodity of which over 90% is produced…
Under the auspices of President Ranil Wickremesinghe, a sophisticated disaster early warning system was officially introduced today (19), marking a collaborative effort involving the Disaster Management Centre, Sri Lanka Telecommunication Regulatory Commission and major telephone service providers including SLT Mobitel, Hutch, Dialog and Airtel. The Memorandum of Understanding (MoU) formalizing this strategic initiative was also…
The Colombo Stock Exchange (CSE) announces the following change in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2023 year-end rebalance. The exclusion and inclusion as announced by S&P Dow Jones Indices, effective from 18th Dec 2023 are presented below. The S&P SL 20 index includes the 20 largest…
For the first time in Sri Lanka, Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, introduced the facility for customers to conveniently and seamlessly transition from traditional SIM cards to more secure eSIMs using any eSIM-compatible Android or iOS device. To determine if a device is eligible for the eSIM service, customers can visit www.dialog.lk….
Aims to make the city an attraction for travellers this festive season Sri Lanka Tourism will blitz the city of Colombo this festive season by lighting up key streets and areas for a second consecutive year, following the success of last year. The month of December marks the start of the country’s peak tourist season,…
Reuters – The Bank of Japan maintained ultra-loose policy settings on Tuesday in a widely expected move, as the bank opted to await more evidence on whether wages and prices would rise enough to justify a shift away from massive monetary stimulus. The central bank also made no change to its dovish policy guidance, dashing…
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