The Faculty of Arts at the University of Colombo is set to inaugurate its Sustainable Tourism Unit (STU) on 2 October 2023 from 2:00 p.m. onwards at the Senate Hall, College House; marking a significant milestone for Sri Lanka’s tourism industry. Aligned with the United Nations’ 2030 Agenda for Sustainable Development, the establishment of the…
Recognising the contribution to supporting trade in Asia and the Pacific HNB and Standard Chartered Bank were awarded top honours, receiving the coveted ‘Best Trade Deal of the Year’ award for Issuing Bank and Confirming Bank, respectively, at the recent Trade and Supply Chain Finance Programme (TSCFP) Awards organised by the Asian Development Bank (ADB)….
A pioneering Sri Lankan tech consortium has launched an innovative platform, offering the Government of Mozambique access to USD 300 million in donor funding. This revolutionary system marks a significant advancement in donor funding management, merging the expertise of 3W Consulting (Pvt) Ltd, Overdime Technologies and technology developed by Adventa Holdings (Pvt) Ltd. Designed to…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) decreased to 1.3% in September 2023 from 4.0% in August 2023. The decline in the headline inflation is mostly in line with the projections envisaged by the Central Bank of Sri Lanka (CBSL) in July 2023. The Food deflation (Y-o-Y) continued for the third consecutive…
Fitch Ratings has upgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CCC-‘ from ‘RD’ (Restricted Default). Fitch typically does not assign Outlooks to sovereigns with a rating of ‘CCC+’ or below. The Long-Term Foreign-Currency IDR has been affirmed at ‘RD’ and the Country Ceiling at ‘B-‘. The Short-Term Local-Currency IDR has been downgraded…
SriLankan Airlines has entered into a first-ever interline partnership with Virgin Australia that will strengthen the airline’s network in Australia and offer customers extensive connections across the land down under and beyond. The new partnership reaffirms SriLankan’s commitment to Australia and will present customers the convenience of adding select Virgin Australia domestic or international connections…
The IMF team had constructive and productive discussions with the Sri Lankan authorities on economic performance and policies underpinning the first review under the IMF Extended Fund Facility (EFF) arrangement. The people of Sri Lanka have shown remarkable resilience and the authorities have made significant progress on important reforms. Discussions will continue towards reaching a…
(Reuters) – Some members on the committee of Sri Lanka’s official creditors are pushing to reach a deal to restructure the nation’s debt without the participation of China, Bloomberg News reported on Wednesday citing people familiar with the matter. The members want the group of major creditors, including the U.S., Japan and India, to sign…
The Information and Communication Technology Agency (ICTA) of Sri Lanka would like to announce the upcoming launch of the Electronic Revenue License System (eRL 2.0) on October 03, 2023. This transformative system, developed in collaboration with the Provincial Department of Motor Traffic, promises to revolutionize the vehicle revenue license issuance system, improving the efficiency of…
NDB is proud to announce its appointment as a member of the LankaPay USD Online Payment System. The Sri Lanka Interbank US Dollar On-line Payment System is yet another payment product introduced by LankaPay with the aim of assisting the Central Bank of Sri Lanka (CBSL) and the economy by curtailing the foreign exchange outflow…
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