Overview On Sept. 14, 2023, Sri Lanka settled a debt exchange program on some of its local-currency-denominated government bonds held by superannuation funds. On Sept. 21, 2023, the government also completed a restructuring of its obligations to the Central Bank of Sri Lanka. We are adopting a forward-looking opinion about Sri Lanka’s creditworthiness on its…
In a historic milestone, Sri Lanka witnessed the grand unveiling of its very first centrally-monitored, fully-automated, women-operated Lanka IOC Filling Station, recently. This event symbolizes empowerment, inclusivity, and technological advancement. Situated in the heart of Colombo, at Hospital Square, it is the first new filling station inaugurated within the city limits in the last two…
Sri Lanka impressed the Russian travel and trade community by showcasing it’s galore of holiday opportunities to make the Russian travelers to consider about having a different experience in a different destination, at the Leisure/OTDYKH Travel & Tourism Exhibition held in Moscow from 12th -14th September 2023, for the 29th successive year. The Sri Lankan pavilion at…
Sri Lanka’s control body for organic agriculture – the National Organic Control Unit (NOCU), operating under the aegis of the Sri Lanka Export Development Board (EDB), has taken a significant step towards promoting and regulating Sri Lanka’s organic agriculture sector with the launch of its official website – www.nocu.lk. This website development was done through…
Oil prices could soar back into the triple-digits if crude supply faces more pressure – and that could bring global economic growth to a near standstill, according to JPMorgan. In a note on Tuesday, the bank’s strategists noted oil prices have jumped 27% over the past month to trade at a 10-month high. Around 25%…
Commencing the National IT and BPM Week, the central event is slated for October 11, 12, and 13, 2023, at the Sirimavo Bandaranaike Memorial Exhibition Hall in Colombo. This initiative has been set in motion by expediting President Ranil Wickremesinghe’s program aimed at propelling the nation into the digital economy. The primary objective is to…
The newly established Governing Board of the Central Bank of Sri Lanka, constituted under the provisions of the recently promulgated Central Bank Act No. 16 of 2023, was held Thursday, the 21st of September 2023, at the Board Room of the Central Bank of Sri Lanka. The Newly established Governing Board, succeeds the Monetary Board…
Conversion of Outstanding Credits of the Central Bank of Sri Lanka to the Government into Negotiable Debt Instruments with Specified Maturities under the Domestic Debt Optimisation Programme (DDO) In accordance with Section 129(2) of the Central Bank of Sri Lanka Act, No. 16 of 2023, outstanding Provisional Advances from the Central Bank of Sri Lanka…
Western traders sailed searching for basic commodities when China reduced exports including “tea” through the ancient Silk Road. They ended up conquering lands & cultivating commercial crops as it gave high profits with low investments. That was the beginning of western colonization which is still contributing to keep the European markets stable. However, unlike investors…
Highlighting Challenges, Achievements and Commitment to Sustainable Development and Climate Action. President Ranil Wickremesinghe addressed the UN General Assembly in New York yesterday (21) which reflected on the theme of “Rebuilding trust and reigniting solidarity” and its relevance to Sri Lanka’s recent challenges. He mentioned how Sri Lanka faced significant social, economic and political challenges…
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