Sri Lanka’s merchandise exports increased by 16.6 % to US$ 989.7 Million in May 2023 compared to April 2023. However, it is a 5.59 % decrease when compared to May 2022. Declining trend in merchandise exports further continues due to the negative trends shown in major export products specially in Apparel & Textiles and Coconut…
Presenting the next big step into a smarter and convenient home ecosystem and delivering a world of convenience to customers, Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, introduced Amazon Alexa Voice Command Support for a wide range of its services, including Digital Health for the first time in Sri Lanka. Dialog customers can now…
The ‘Titan’ submersible was destroyed during an expedition to view the sunken ‘Titanic’ with five rich tourists. As per its operator OceanGate, Titan which destroyed at approx 1.5KM was capable of diving approx 4KM comfortably. The deep sea trip seems to have been a site seeing tour & not a data collection mission for scientific developments for…
Will not affect the banking system stability or the stability of any public or private bank. Will not affect any interest on bank deposits of over 50 million depositors that is currently being paid. Foreign as well as domestic debt restructuring proposals to be submitted to Cabinet tomorrow – Says President in Gampaha. President Ranil…
The Ceylon Chamber of Commerce stresses the importance of patience and trust in the domestic debt restructuring process. As emphasized by the Central Bank of Sri Lanka, priority focus will be on maintaining financial system stability and ensuring that depositors will not be adversely impacted. It is vital that we collectively allow for comprehensive and…
(Reuters) – Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal in March. The island nation of 22 million is emerging out of its worst economic…
06th round commences from 21st to 23rd August 2023 in Thailand. The 5th Round of Sri Lanka-Thailand Free Trade Agreement (SLTFTA) negotiations commenced in Colombo Monday (26), aligning with President Ranil Wickremesinghe’s vision of strengthening economic ties with major and emerging economies, with a particular focus on ASEAN countries. Mr. K.J. Weerasinghe, the Chief Negotiator,…
Sri Lanka’s Foreign Minister Ali Sabry has held a meeting with the President of the China Harbour Engineering Company (CHEC) Bai Yinzhan at their head office in Beijing on Monday (26). President Bai confirmed that CHEC will invest USD 1.2 billion in the Colombo Port City, starting with the International Financial Centre, the Sri Lankan…
Two major Sri Lankan export companies participated in the South African International Trade Exhibition (SAITEX) 2023, an annual multi-sector trade-show, held at the Gallagher Convention Centre in Johannesburg, South Africa from 18– 20 June 2023. This year, more than 120 exhibitors from 37 countries participated at SAITX attended by more than 3500 attendees representing importers, wholesalers, retailers, product…
(Bloomberg) – Cash-strapped Sri Lanka will announce its domestic debt restructuring strategy this week, in a crucial step toward striking a deal with the island nation’s creditors. The plan will be announced soon, central bank Governor Nandalal Weerasinghe told reporters late Sunday, adding that the South Asian nation has declared a five-day closure of financial…
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