The Development Control Regulations (DCR), which regulate all construction activities within the area of authority of Colombo Port City, was published in the extraordinary gazette No 2334/47 on June 02nd, 2023. This updated version represents an enhanced version of the initial publication in April 2022. As a result, the Colombo Port City Economic Commission is…
The Travel Agents Association of India (TAAI), the largest tourism organization in India, returns to Sri Lanka after 18 years with Airline Partner SriLankan Airlines for their 67th Convention, set to take place from 6 – 9 July 2023 in Colombo. As an airline that is singularly committed to growing tourism in the country and…
Fitch Ratings-Colombo/Hong Kong/Singapore-04 July 2023: The Sri Lankan government’s proposal for treatment of domestic debt marks a significant step towards resolving uncertainties around the impact of the sovereign’s debt restructuring on the local banking sector, but complications may arise from a number of factors, says Fitch Ratings. The proposal excludes banks’ holdings of Sri Lankan…
(Bloomberg) – Sri Lankan stocks extended gains as markets reopened post a three-day holiday, after a plan to revamp domestic debt eased concern over financial sector stability. The Colombo All-Share Index climbed as much as 5.3%, its biggest gain in more than a year. The Sri Lankan rupee advanced 0.4% to 305.5 per dollar. A 2027 Sri…
The government’s economic development policy is well-received internationally. A US $ 1.2 billion investment in the Port City of Colombo. Sinopack is planning to launch a fuel refinery in Sri Lanka- Minister of Foreign Affairs Ali Sabri. Foreign Affairs Minister Mr. Ali Sabri stated that investors from across the world are ready to invest in…
An official delegation from Israel met the senior EDB officials on 29th June and had a fruitful discussion to explore avenues to promote trade and economic cooperation between Israel and Sri Lanka. The delegation from Israel was represented by Mr.Ophir Kariv, Head of Bureau, Economic Affairs Division of the Ministry of Foreign Affairs of Israel…
Huawei announced they will launch a complete set of commercial 5.5G network equipment in 2024 at the 5G Advanced Forum during MWC Shanghai 2023. Huawei’s Director and President of ICT Products & Solutions Yang Chaobin who made the announcement said the company intends for this launch to mark the beginning of the 5.5G era for…
The Ceylon Chamber of Commerce elected Duminda Hulangamuwa as its new Chairman at the 184th AGM held on June 30. Mr. Hulangamuwa who is the Country Managing Partner of Ernst & Young Sri Lanka and the Maldives, succeeds veteran businessman Vish Govindasamy as the Chairman of the Ceylon Chamber. Mr. Krishan Balendra, Chairman of John…
The Asian Development Bank (ADB) has appointed Takafumi Kadono as the new Country Director for Sri Lanka, who has assumed office in Colombo today. “It is an honor and a privilege to be appointed the Country Director of ADB’s Sri Lanka Resident Mission. ADB was a trusted partner of the people of Sri Lanka during…
Business leaders thank government for protecting the banking system. During meetings held yesterday (29) at the Presidential Secretariat, President Ranil Wickremesinghe addressed members of the Chambers, business leaders and unions regarding the Domestic Debt Optimization (DDO). The President urged the business leaders to educate their employees on this crucial step aimed to ensure that individuals…
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