Pakistan’s total external debt stocks owed to China has surged from $7.6 billion in 2016 to $26.5 billion in 2022 Debt owed by various countries, especially in South Asia and Africa, to China has multiplied in recent years. China is either the sole or the major lender for the majority of these countries. In other…
With a vision of making the Postgraduate Institute of Management (PIM) into a world class post-graduate management school, the renowned industry professional Dr. Asanga Ranasinghe assumed duties as the Director, PIM. The duty assumption ceremony was held at the PIM premises in Colombo 08. Among the dignitaries present at the event were Senior Prof. Sampath…
Sri Lanka Government promoting local assembly with private sector investment Sri Lanka’s automobile assembly is experiencing significant growth and development with the involvement of world-renowned brands including Hyundai, Proton, BAIC, DFSK, Wuling, Mahindra, TATA, Bajaj, TVS, JMC and Lanka Ashok Leyland emphasizing the favourable environment for investment. The approval to assemble a wide range of…
State Minister for Technology, Mr. Kanaka Herath, announced that the amended bill to amend the Telecommunications Regulatory Act after 28 years will be presented to the Parliament today (10). Additionally, he highlighted plans for the drafting of the National Cyber Security Act in May. The State Minister made these remarks during a press conference conducted…
Sri Lanka’s largest private sector retail bank, HNB PLC, announced another strategic addition to its Board of Directors with the appointment of Suresh Shah as an Independent Non-Executive Director. This appointment marks another significant step in strengthening the Bank’s governance and strategic direction. Shah brings with him a wealth of experience and a proven track…
By Dr Kiruthika Natarajan, Dr Manoj Thibbotuwawa, and Dr Suresh Babu Protein consumption of the Sri Lankans who are recovering from the economic crisis has been severely affected by their food coping strategies. Pulses, which are high in the quality and quantity of protein, make up only 8% of the nation’s protein intake. Sri Lanka…
The Embassy of Sri Lanka in Washington D.C. opened its doors for American visitors as part of Passport DC’s ‘Around the World Embassy Tour’ from 10.00 a.m. to 4.30 p.m. on 04 May 2024. The open house launched under a special event, “Passport DC” was organized by Events DC in partnership with over 55 foreign…
The International Cricket Council (ICC), today (09) announced a four-year extension to its global partnership with Aramco, one of the world’s leading integrated energy and chemicals companies. Following a successful initial 18-month term, Aramco will continue as a Premier Partner of the ICC and the partnership will include all men’s and women’s senior and U19s…
Only the production of quarter alcohol bottles has decreased by 15 million. 147 of the 214 alcohol licenses granted in 2023 are only for the tourism industry – Minister of State for Finance Dr. Ranjith Siyambalapitiya Minister of State for Finance Dr. Ranjith Siyambalapitiya says that alcohol production in Sri Lanka has decreased by 19%…
Fitch Ratings: Fitch Ratings believes a sustained period of US dollar (USD) strength against emerging market (EM) currencies could weigh on some EM sovereign credit profiles, potentially softening the current positive ratings momentum for EMs. Most at risk in such a scenario – which does not form part of our base case for 2024-2025 –…
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