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Sri Lanka, Oman to enhance economic cooperation

Ambassador of Sri Lanka to the Sultanate of Oman Ameer Ajwad paid a courtesy call on Chairman of the State Council (Upper House) of the Sultanate of Oman Shaikh Abdulmalik bin Abdullah bin Ali al Khalili recently. During the interaction Ambassador and the Chairman of the State Council recalled the long-standing friendly relations between Sri…

(0)Comments | December 2, 2020 12:38 pm

Vehicle registration certificates, number plates to be delivered via Speed Post

The Cabinet of Ministers has approved the proposal to deliver vehicle registration certificate, vehicle number plates to applicants under a ‘Speed Post’ courier service, the state information office said. “When registering a vehicle, in order to obtain them under the existing system, one has to come to the department spending considerable time and expense. There seems to…

(0)Comments | December 2, 2020 12:07 pm

Little islands are all large prisons, one cannot look at the sea without wishing for the wings of a swallow – Richard Burton

“The Beijing Swift” By Prof. Samitha Hettige © In mid-November the Chinese leader chaired a conference focused on the path of socialist rule of law with Chinese characteristics and it is reported to be the first such held after him assuming office. According to Chinese sources, the President has proposed key approaches to strengthen the…

(0)Comments | December 2, 2020 11:48 am

Govt’s foreign non-concessional debt-to-GDP around 23%: CB Chief

The ratio of Government’s foreign non-concessional debt to GDP is around 23%, and the remainder is either domestic debt that can be rolled over or long term concessional financing, Central Bank Governor Professor W.D Lakshman said. “There are two aspects of the economy which I am obliged to touch upon considering the controversies surrounding them. Firstly,…

(0)Comments | December 2, 2020 10:24 am

SLPA begins work on Phase 5 of Jaya Container Terminal 

The construction of the fifth phase of the Jaya Container Terminal (JCT) of Sri Lanka Ports Authority (SLPA) commenced yesterday (01), adding a new chapter to the history of Sri Lanka’s ports and shipping industry. The event was held under the patronage of Ports and Shipping Minister Rohitha Abeygunawardena, State Minister of Warehouse Facilities, Container Yards,…

(0)Comments | December 2, 2020 10:23 am

Fitch downgrades SriLankan Airlines’ govt. guaranteed bonds to ‘CCC’

Fitch Ratings has downgraded the rating on SriLankan Airlines Limited’s (SLA) USD175 million government-guaranteed 7% unsecured bonds due 25 June 2024 to ‘CCC’, from ‘B-‘. KEY RATING DRIVERS The rating action follows the downgrade of Sri Lanka’s Long-Term Foreign- and Local-Currency Issuer Default Ratings to ‘CCC’, from ‘B-‘. The national carrier’s bonds are rated at…

(0)Comments | December 2, 2020 9:03 am

ADB to support secondary education reforms in Sri Lanka with $ 400 million loan

The Asian Development Bank (ADB) said yesterday (01)  it has approved a $400 million loan to support the Government of Sri Lanka in transforming its secondary education system to align with the demand for highly skilled and agile workers who can compete in the rapidly changing global economy. Sri Lanka aspires to be an advanced knowledge economy…

(0)Comments | December 2, 2020 8:00 am

Total SDA deposits amount to nearly $272mn in 6 months

The Government of Sri Lanka (GOSL) introduced the Special Deposit Accounts (SDAs) on 08 April 2020 to seek assistance for the national effort to overcome the effects of COVID-19 outbreak in the country. Accordingly, as at 07 October 2020, total deposits in SDAs amounted to approximately USD 272 million, the Central Bank of Sri Lanka said in…

(0)Comments | December 1, 2020 5:25 pm

BIA duty free sales resume from today

Passengers allowed for duty free shopping now on arrival Bandaranaike International Airport (BIA) today (01 December) reopened its duty free facilities for arriving passengers. Accordingly, the repatriation passengers are allowed to order duty free items and make payments on arrival at BIA, airport officials said. However, due to strict health guidelines, repatriation passengers are still not allowed to…

(0)Comments | December 1, 2020 3:58 pm

Private sector must make bold investments without remaining conservative – President

The private sector must make bold investments that can potentially realise outstanding returns, instead of continually adopting conservative, low-risk strategies, President Gotabaya Rajapaksa stated. “With the Government as an enabler, the private sector must expand its role in the economy. It has often been pointed out that the private sector is the engine of growth. However, for the…

(0)Comments | December 1, 2020 1:28 pm