The State Minister for Technology, Mr. Kanaka Herath, highlighted the pressing need to equip high school graduates with the necessary skills to bridge the workforce gap in the Information Technology (IT) sector in Sri Lanka. Every year, there are approximately 20,000 job opportunities within the IT sector, yet a deficit of adequately trained professionals persists….
The State Minister of Power and Energy D.V Chanaka stressed that there is no threat of fuel shortage and emphasized that the necessary tenders for fuel import up to June of the next year have been completed, ensuring an uninterrupted fuel supply until that time. He also highlighted that by entrusting the supply of fuel…
IMF staff and the Sri Lankan authorities have reached a staff-level agreement on economic policies to conclude the first review of the 48-month EFF-supported program. Sri Lanka will have access to SDR 254 million (about US$330 million) in financing once the review is approved by IMF Management and IMF Executive Board. Macroeconomic policy reforms are…
The Commercial Bank of Ceylon recently received the award for the Best Bank in Sri Lanka in 2023 from the US-based Global Finance magazine, at the 30th edition of the magazine’s annual awards presentation which took place at the Meydene Theatre in Marrakech, Morocco. This is the 21st occasion that Commercial Bank has won this…
A cooperation framework agreement was signed in Beijing on Tuesday between the Port City Economic Commission, China Harbour Engineering Company, Browns Investments and Hunan Construction Investment Group for the phase 2 development of the Colombo Port City project for $ 1.565 billion. The agreement was signed by Port City Economic Commission Chairman Dinesh Weerakkody, China…
The Chinese Finance Minister, Mr. Liu Kun, has reaffirmed China’s commitment to extend comprehensive support for the implementation of a medium-term and long-term program that is mutually beneficial to both parties and aimed at optimizing Sri Lanka’s debt. The Chinese Finance Minister conveyed this commitment during bilateral discussions held this morning (19) in Beijing with…
Markets open and close ceremoniously across the globe and Maria Fernanda Garza, the first female Chair of the International Chamber of Commerce (ICC), rang the Opening Bell today to commence trading at the Colombo Stock Exchange (CSE). She was hosted by the team of The CSE that included Dilshan Wirasekara, Chairman, Rajeeva Bandaranaike, Chief Executive…
Bloomberg – Sri Lanka is taking an unfavorable view toward a proposal by foreign dollar bondholders for restructuring its debt, signaling possible complications in negotiations that are key for accessing further funding to support its economic recovery. “This proposal has not received a favorable response from Sri Lanka,” the Ministry of Finance said in an…
Bloomberg – Sri Lanka is close to reaching a vital staff-level agreement with the International Monetary Fund to get funding, while it’s also assessing debt restructuring terms from foreign holders of its dollar bonds, according to junior Finance Minister Shehan Semasinghe. “There are discussions on revenue and other clarifications are being made,” Semasinghe said via…
The Sri Lanka Maldives Business Council (SLMLBC) hosted a dinner meeting with His Excellency Ali Hashim from the Maldives Monetary Authority and High Commissioner His Excellency Ali Faiz on the 1st of September at the Kingsbury Hotel. Such meetings play a crucial role in strengthening bilateral relations and addressing important issues facing the business communities…
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