Sri Lanka’s overall rate of inflation as measured by the Colombo Consumer Price Index (CCPI) on year-on-year (y-o-y) basis has increased to 3.4% in November, from 1.5% in October. The Department of Census and Statistics (DCS), in its latest report, said the year-on-year inflation of the food group increased to -3.6% in November from -5.2%…
Brings home Gold, Silver and Bronze The Ogilvy Group Sri Lanka made a mark at the much-anticipated Campaign Asia Agency of the Year 2023 Awards, clinching top honours in three of the primary categories in the Rest of South Asia region. The agencies received their accolades at the official awards ceremony held at the ITC…
BPPL Holdings PLC, a leading player in the brushware and filament export manufacturing industry, was awarded by Forbes Asia as “Asia’s Best Under a Billion” for the year 2021. The award ceremony took place on the 21st of November ’23 in Manila, Philippines. Forbes Asia’s “Best Under a Billion” award recognises companies demonstrating exceptional long-term…
Highlights industry’s willingness to collaborate with government to trial system Urges need for strategic partnerships with Japan, India Re-elected Chairman of the Sri Lanka Apparel Exporters Association (SLAEA) Indika Liyanahewage has emphasized the significant challenge posed by the proposed abolition of SVAT. He urged the government to introduce an alternative cashless scheme, highlighting the need…
Another first with the BOI, Amber Adventure, and Ambuluwawa Bio Diversity Center with technical & product expertise from China Machine-Building International Corporation signed an agreement worth U$ 4.5 Mn to establish the first cable car operation in Sri Lanka. This unique experience not only brings much-needed novel facts as the destination for international travelers but…
Shenzhen, China – BYD, the world’s leading manufacturer of new energy vehicles and power batteries, achieved a historic milestone as its 6 millionth new energy vehicle rolled off the production line at the Zhengzhou factory. This achievement which establishes the manufacturer as the first company in the world to achieve such a milestone, underscores BYD’s…
(Reuters) – Sri Lanka’s in-principle pact with creditor nations to restructure its debt prepares the way for the International Monetary Fund (IMF) to consider clearing the first review of a bailout next month, the global lender said on Thursday. The deal comes about a month after Sri Lanka’s agreement with the Export-Import Bank of China covering…
The Sri Lanka Foreign Employment Bureau (SLFEB) has contributed a total of Rs.07 billion to the NTreasury this year, with a formal presentation of a Rs.04 billion cheque was presented to President Ranil Wickremesinghe by the Minister of Labour and Foreign Employment, Mr. Manusha Nanayakkara, yesterday (29) at the Presidential Secretariat. In light of the prevailing…
The Government of the Democratic Socialist Republic of Sri Lanka is pleased to announce that it has reached agreement in principle with its Official Creditor Committee (OCC) on the financial terms of a debt treatment. The agreement in principle covers approximately US$ 5.9bn of outstanding public debt and consists in a mix of long-term maturity…
A Comprehensive Overview of the President’s Address and the Path to Economic Sustainability. In a groundbreaking address at the 2023 Sri Lanka Economic Summit, President Ranil Wickremesinghe declared the imperative need for radical economic restructuring to ensure the sustainability of the country’s economy. The President emphasized that continuous commitment to a new economic policy framework…
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