(Reuters) – Gold surged to a record high above $5,000 an ounce on Monday, extending a historic rally as investors piled into the safe-haven asset amid rising geopolitical uncertainties.Spot gold rose 1.79% to $5,071.96 per ounce by 0159 GMT, after touching $5,085.50 earlier. U.S. gold futures for February delivery gained 1.79% to $5,068.70 per ounce. The…
Reinforcing its longstanding commitment to Sri Lanka’s private sector, the International Finance Corporation (IFC), a member of the World Bank Group, today announced a high-impact investment program of $166 million to support Sri Lankan businesses and accelerate the country’s transition from economic stabilization to sustainable growth. This comprehensive country-level financing package aims to expand financial…
The Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) today announced a Rs. 50 million donation to the Government’s ‘Rebuilding Sri Lanka’ Fund, established to support national recovery efforts following the recent disaster. The financial contribution was formally presented by the SLCPI Executive Committee to the Minister of Health and Mass Media, Dr. Nalinda Jayatissa,…
Amid reforms, stability, Chathuranga Abeysinghe showcases growth potential Gulf News – Sri Lanka is offering tax holidays of up to 15 years and positioning Colombo Port City as a new financial and trade hub as it seeks to attract UAE investors amid renewed political and economic stability, a senior minister said. Deputy Minister of Industry…
Sri Lanka’s most ambitious urban development project reached a critical execution milestone, as construction officially commenced on the first residential development within Port City Colombo. The milestone marks the transition of the country’s flagship Special Economic Zone (SEZ) from regulatory readiness to active private-sector delivery. The project, Bay One Residences Colombo, is being developed by…
Colombo has been ranked the most unaffordable city in the world for buying property, according to the latest Property Prices Index from Numbeo, the world’s largest cost-of-living database. The data show that the price-to-income ratio in Colombo is 55.3, meaning the average property costs more than 55 times the average annual income. By comparison, the gross rental…
The Joint Apparel Association Forum (JAAF) has elected Felix A. Fernando as its new Chairman at the Forum’s 22nd Annual General Meeting, marking the start of a new leadership term for Sri Lanka’s apparel industry at a pivotal stage of its development. Felix Fernando succeeds Saifuddin Jaferjee, who concluded his tenure following a year shaped…
The Colombo Stock Exchange (CSE) reached a new milestone today (23), with the All Share Price Index (ASPI) touching the 24,000 level during intraday trading for the first time in history. The benchmark index closed at 23,956.51 points, up by 142.74 points from the previous session, underscoring strong market momentum. The S&P SL20 Index also…
The Board of Investment of Sri Lanka (BOI) has achieved a significant investment milestone in 2025 surpassing USD 1 billion Foreign Direct Investment (FDI) , marking a decisive turning point in Sri Lanka’s investment recovery. FDI inflows for the year reached USD 1,057 million, representing a 72 percent increase compared to 2024. This strong performance…
Expanded quay length and carrier confidence signal accelerated growth for the Port of Colombo’s transhipment operations The Colombo East Container Terminal of the Sri Lanka Ports Authority marked a pivotal operational milestone today with the commissioning of its third berth at the Port of Colombo. The occasion drew senior representatives from leading global carriers including…
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