A Rare Chance to Bolster Indo-Sri Lankan Economic Ties Emerges. Up to 400,000 Business Owners Set to Reap Benefits. Continued Momentum: ‘Vision Statement’ Propels Indo-Sri Lankan Relations Forward- Says President. Key Initiative to Propel Sri Lanka’s Digital Transformation Takes Shape – Indian Prime Minister Narendra Modi. In a ground-breaking move aimed at enhancing the convenience…
In terms of the provisions of the Central Bank of Sri Lanka (CBSL) Act, No. 16 of 2023, the Governing Board (GB) of the CBSL has been established as the body responsible for overseeing the administration and management of the affairs of the CBSL and determination of the general policies of the CBSL. Governing Board…
A Sky-High Toast to Commitment Marina Square – Uptown Colombo, Sri Lanka’s premier harbour-front luxury mixed development project, announced the structural completion of all 5 towers at an event held on 30th January 2024, aptly titled ‘A Sky-High Toast to Commitment’. Backed by industry giants Access Engineering PLC and China Harbour Engineering Company (CHEC), the…
India’s Unified Payment Interface (UPI) transactions, via LankaQR, was introduced to Sri Lanka at a virtual launch held on Monday (12 Feb.). The real-time payment system aims to enhance digital payments for Indian tourists in Sri Lanka. According to the President’s Media Division (PMD), the initiative, led by the National Payments Corporation of India (NPCI)…
By Prof. Samitha Hettige Sri Lankans born before 1970 may remember the closed economy with Dr. N.M. Perera (minister of finance during 1970 – 77). Masses marked months to buy a refrigerator or get a telephone connection. Transistor radios, light bulbs, umbrellas, wrist watches, ball-point pens & even razor blades were a luxury those days….
The 9th edition of the annual flagship Outlook Report for 2024 by The Ceylon Chamber of Commerce was recently launched at the Economic Outlook 2024 seminar. Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, delivered the keynote address at the launch event. Compiled by the Economic Intelligence Unit (EIU) of the Ceylon…
The All Island Dairy Association (AIDA) has voiced grave concerns regarding the Sri Lankan government’s proposed increase in the Value Added Tax (VAT) from 15% to 18%, set to take effect on January 1st, 2024. This move, intended to broaden the tax base, could have severe repercussions for the dairy sector, a vital contributor to…
The third offshore campus of the prestigious Indian Institute of Technology (IIT) is likely to be set up in Sri Lanka, according to sources. The proposal for an IIT in Sri Lanka was announced last November in the 2024 Budget unveiled by Sri Lankan President Ranil Wickremesinghe, who also serves as the finance minister. According…
Business Today – The Ministry of External Affairs (MEA) on Sunday said Unified Payment Interface (UPI) services will be launched in Sri Lanka and Mauritius on February 12. It said Prime Minister Narendra Modi, Sri Lanka President Ranil Wickremesinghe, and Mauritius Prime Minister Pravind Jugnauth will witness the launch of UPI services in Sri Lanka…
Member of Parliament Hon. (Dr.) Harsha de Silva has been re-appointed as the Chair to the Committee on Public Finance. The Committee of Selection had nominated Members of Parliament to serve in the Committee on Public Finance and Hon. (Dr.) Harsha de Silva has been Re-appointed as the Chair to the Committee. The Hon Speaker…
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