IMF commends government for making “good progress” in implementing recovery plan The Hindu – Sri Lanka is close to finalising a debt treatment plan with India and the Paris Club, sources familiar with the negotiations said, pointing to a likely moratorium of up to six years and a reduced interest rate during the repayment period….
Diversified conglomerate Sunshine Holdings PLC (CSE: SUN) announced that Aruna Deepthikumara, Michelle Senanayake, Dr. T. Sayandhan and Shantha Bandara, who are Executive Committee members of the Group, have been appointed as Executive Directors. Commenting on the appointments, Sunshine Holdings Group CEO Shyam Sathasivam said, “We are excited to announce the elevation of Aruna Deepthikumara, Michelle…
The Central Bank of Sri Lanka (CBSL) has raised concerns about the recent trend of using currency notes to prepare ornaments and gift items and promotion of such activities through social media. In a special notice issued to the members of the public, the CBSL’s Superintendent of Currency advised against wilful mutilation or defacement of…
SriLankan Airlines has made every effort to satisfy the travel requirements of all 217 of its valued passengers who were checked in to travel to Incheon, South Korea on 19 March 2024 on UL 470, when the flight was delayed by approximately 13 hours from the scheduled time of departure due to a technical reason….
FitsAir, Sri Lanka’s low-cost airline, is pleased to announce the launch of direct flights connecting Colombo and Dhaka, Bangladesh in April 2024. This move represents a significant milestone in regional aviation, addressing the growing demand for affordable travel options between Sri Lanka and Bangladesh. In light of Bangladesh’s rapidly expanding economy, attracting considerable interest from…
Puneet Chandok, Microsoft’s President of India and South Asia, made his inaugural visit to Sri Lanka; met with Sri Lankan President and Prime Minister to discuss the company’s commitment to partner Sri Lanka on its digital transformation journey. Microsoft and Sri Lankan Ministry of Education come together to sign MoU with the aim to integrate…
IMF staff and the Sri Lankan authorities have reached staff-level agreement on economic policies to conclude the second review of the 4-year EFF-supported program and the 2024 Article IV Consultation. Once the review is approved by IMF Management and completed by the IMF Executive Board, Sri Lanka will have access to SDR 254 million (about…
The Committee on Public Finance informed the Secretary to the Ministry of the Investment Promotion to intervene with immediate effect to arrive at a decision regarding a duty-free shopping mall to be established in the port city of Colombo, as the opinion of the Attorney General and the opinion of the Commission are contradicting with…
With USD 2.6 Million funding support from the Government of Japan, the International Organisation for Migration (IOM), and the International Labour Organization (ILO) launched 12-month “UPLIFT” project. The initiative will contribute towards the sustainable socioeconomic reintegration, and enhancing of skills and livelihood of returnees, aspirant migrant workers, and victims of human trafficking. This project is…
Latest Mood of the Nation Survey Shows Increase in Negative Outlook The approval rating of the government fell from 9% in October 2023 to 7% in February 2024, according to the latest round of the Gallup style ‘Mood of the Nation’ poll of Verité Research. The survey showed that only 9% rated the current economic…
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