Bloomberg – An International Monetary Fund mission visit to Sri Lanka is unlikely to lead to an immediate staff-level agreement to keep a $3 billion bailout on track and unlock more funds from the program, according to a person familiar with the matter. Sri Lanka will now have to hold more discussions with the multilateral…
The Colombo Port City Economic Commission (the Commission) recently published its Comprehensive Progress Report for the fiscal year 2023, spanning from January to August. This period has seen remarkable developments within the Commission, Colombo Port City, and in regard to the finalization of legal frameworks for the Colombo Port City Special Economic Zone (SEZ), reinforcing…
“Companero” means a mixture of companion & comrade in Spanish. The Chinese civilization is more than 7400 years & the Peoples Republic of China (PRC) established on October 1st 1949 shall celebrate 74th on October 1st 2023. On every occasion China honoured the other’s sect. With that China increased its own sect & the benefits…
Mr. Mahindananda Aluthgamage, Chair of the Sectoral Oversight Committee on National Economic and Physical Plans, emphasized the need to establish a dedicated unit for overseeing institutions responsible for generating tax revenue, including the Inland Revenue Department. The former minister also stressed the importance of the government taking decisive measures concerning officials who are not actively…
The Economic Commission aimed at resolving disputes will replace the BOI – President Ranil Wickremesinghe. President Ranil Wickremesinghe, in his address at the 2023 Commercial Mediation Symposium at Colombo’s Hilton Hotel, emphasized the need for a cultural shift towards efficient dispute resolution in Sri Lanka. He acknowledged the long-standing reliance on trial courts and stressed…
The ‘INFOTEL Information Technology Exhibition,’ orchestrated by the Federation of Information Technology Industry Sri Lanka (FITIS), is scheduled to take place at the Bandaranaike International Conference Hall in Colombo from November 3rd to 5th. This event aligns with President Ranil Wickremesinghe’s initiative to modernize Sri Lanka through digitization. The exhibition, themed ‘Fuelling the Digital Economy,’…
The 24th Annual General Meeting of the Sri Lanka – Germany Business Council was held recently, at the Hilton Colombo Residences, Colombo 2. Chief guest at the event, Deputy Head of Mission of the Embassy of Germany in Sri Lanka, Mr. Olaf Malchow, acknowledged Sri Lanka’s efforts and positive results with regard to economic recovery….
Sri Lanka’s Export Performance in August 2023 Sri Lanka’s merchandise exports increased by 6.98 % to US$ 1,091.6 Million in August 2023 compared to July 2023 as per the provisional data released by the Sri Lanka Customs. However, it is a 10.91 % decrease when compared to the value recorded in August 2022. The decline…
The Securities and Exchange Commission of Sri Lanka (SEC) is pleased to announce four new senior appointments with diverse backgrounds to leadership positions to fulfill its regulatory and developmental mandates. Ms. Manuri Weerasinghe has been appointed as Director, Corporate Affairs. She has over 20 years of experience in the fields of Accounting, Financial Management, Financial…
Sinopec announced its official entry into Sri Lanka’s dynamic fuel retail market at the felicitation event for local distributors held on the 25th of September in Colombo. This momentous occasion also marked the commencement of fuel supply to Sri Lanka’s filling stations. With the entry, Sinopec is committed to giving full play to its advantages,…
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