The Sri Lanka Pakistan Business Council of The Ceylon Chamber of Commerce, recently paid a courtesy call on the newly appointed High Commissioner of Pakistan in Sri Lanka, His Excellency Major General (R) Faheem Ul Aziz, HI (M). During the visit, both parties expressed their intention to collaborate closely for the future development of economic,…
Reuters – Debt-for-nature swaps, where poorer countries have debt written off in return for protecting ecosystems such as barrier reefs or rainforests, could provide $100 billion for the fight against climate change, a new report has calculated. The UK-based, non-profit International Institute for Environment and Development (IIED) based the estimate on the possibility of debt…
The Executive Board of the International Monetary Fund (IMF) Friday selected Kristalina Georgieva to serve as IMF Managing Director for a second five-year term starting on October 1, 2024. The Board’s decision was taken by consensus. In line with the selection process it had established on March 13, 2024, the Board held several discussions, including…
Developing economies in Asia and the Pacific are forecast to expand by 4.9% on average this year as the region continues its resilient growth amid robust domestic demand, improving semiconductor exports, and recovering tourism. Growth will continue at the same rate next year, according to the Asian Development Outlook (ADO) April 2024, released today by the Asian…
The Asian Development Bank’s (ADB) annual flagship economic publication, the Asian Development Outlook (ADO) April 2024, forecasts Sri Lanka’s economy to record moderate growth of 1.9% in 2024 and 2.5% in 2025 following 2 consecutive years of contractions. Sri Lanka is showing signs of recovery, with green shoots emerging in the second half of 2023. Inflation…
By Prof. Samitha Hettige Some Sinhalese & Tamils will celebrate the Sinhala – Hindu NY showcasing the historic bond in the weekend while a minority is struggling to continue the dispute using ‘Kurundi’ lands. The ‘Kurundi’ monastery constructed in the 1st century BC is considered sacred as the Buddha had visited the site during his…
The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) crossed the 12,000-point mark at the end of trading on Wednesday (10). Reportedly, this is the first time the ASPI surpassed 12,000 points since 21 February 2022. The ASPI closed at 12,033.10 points at the end of trading today, marking an increase of…
SriLankan Airlines, the exclusive ground operator at Bandaranaike International Airport (BIA), has initiated a phased upgrade of airport ground support equipment to accommodate the rising influx of flights and travellers transiting through the airport. Recently, the airline acquired three state-of-the-art passenger apron coaches, ensuring optimal comfort for passengers during transfers between the terminal and remote…
In a landmark move, the Hambantota International Port (HIP) commenced its inaugural container transshipment service operated by the Mediterranean Shipping Company (MSC). MV ‘MSC Ingrid’ made her maiden call at HIP on 9th April, discharging a total of 500 plus TEUs of transshipment containers to be connected to a second carrier, ‘MSC Sky 11’ expected…
Explores the Rich History and Romance of Cinnamon The world’s first Cinnamon Museum was recently inaugurated at the Mirissa Hills Estate in Henwalle, Mirissa, promising an immersive journey into the fascinating history, production, and symbolism of cinnamon. The Museum was ceremoniously declared open on 06th April 2024, in the esteemed presence of Hon. Harin Fernando,…
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