A visionary ten-year plan encompassing two distinct phases of development strategies, aimed at positioning the region as a premier travel and leisure hub. Presidential Directive: Swift Resolution of Drinking Water Dilemma in Arugam Bay. Urgent Measures to Address Land Title Challenges for Businesses. President Ranil Wickremesinghe has announced the swift implementation of a comprehensive plan…
The Central Bank of Sri Lanka (CBSL) has issued an Order reducing the interest rates on lending products of all licensed commercial banks (LCBs) and licensed specialized banks (LSBs) with effect from August 25 (Friday). Accordingly, the interest rates on pawning facilities, pre-arranged temporary overdrafts, credit card advances, and new and existing Sri Lankan Rupee…
TikTok has launched an exciting campaign in Sri Lanka to amplify awareness and comprehension of its Community Guidelines. Central to this initiative, TikTok is hosting a series of workshops designed to enhance creators’ understanding of the platform’s Community Guidelines. As a part of its ongoing commitment to the safety and well-being of its community, this…
The Colombo Port City Economic Commission has achieved a significant milestone in its journey, to transform the Colombo Port City into a globally competitive special economic zone (SEZ). The Parliament of the Democratic Socialist Republic of Sri Lanka this week, approved a comprehensive incentives programme proposed by the Commission in consultation with the Minister of…
Sri Lanka’s steadfast commitment to strengthening its export-oriented economy through manufacturing is taking center stage at the 7th edition of the Complete Plastics Exhibition (COMPLAST 2023). The highly anticipated event is currently underway from August 25th to 27th, 2023, at the prestigious Bandaranaike Memorial International Conference Hall (BMICH) Colombo’s. The collaboration between the Plastics and…
The Central Bank of Sri Lanka (CBSL) has recently received many public complaints indicating that some schemes operating through online platforms are misleading investors into depositing money/investing in these schemes by stating factors such as indicated below, in an attempt to justify that they are lawful schemes: The scheme is protecting investors’ funds by adhering…
Trincomalee set to develop into an Economic Hub. President requests comprehensive report on land allocation in Trincomalee District from 2019-2023 within a week – President. President Ranil Wickremesinghe addressing a special Committee meeting drew parallels to the successful implementation of the Mahaweli Development Project during the 1980s, affirming a similar commitment to expediting the Eastern…
– Chairman and CEO of the National Gem and Jewellery Authority Viraj De Silva The President and Chief Executive Officer of the National Gem and Jewellery Authority Mr. Viraj de Silva stated that they anticipate generating annual revenue of US$ 2 billion by the year 2025 through the export of gems. The chairman highlighted that…
It was disclosed at the Sectoral Oversight Committee on Energy & Transport that the emissions of 90% of the vehicles driven in this country are substandard. The said Committee met under the Chairmanship of Hon. Nalaka Bandara Kottegoda, Member of Parliament on the 22nd of August in Parliament, and the youth representatives selected for the…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 23 August 2023, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 11.00 per cent and 12.00 per cent, respectively. The Board arrived at…
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