Port City Colombo (PCC), the ground-breaking infrastructure project aimed at reshaping Sri Lanka’s economic landscape, celebrated a momentous milestone as its infrastructure development phase nears completion and commercialization is set to begin. The occasion was marked by a moment of unity with a multi-religious ceremony, invoking blessings on the nation and the project’s success. The…
Sri Lanka Insurance (SLIC) entered in to a Bancassurance partnership with Seylan Bank PLC with the objective of promoting insurance products through mutually agreed Seylan Bank branches. The partnership focuses on offering customers of Seylan Bank a range of insurance solutions catering to their respective needs. The signing of the MOU took place at the…
The Government of Japan provides $ 4.6 million through FAO to boost paddy production in the dry and intermediate zones of Sri Lanka The Government of Japan through the Food and Agriculture Organization of the United Nations (FAO) is providing USD 4,629,629 to strengthen the production capacity of smallholder paddy farmers in identified districts of…
Relating to recent views expressed on People Bank’s non-performing loan write-offs, as shared in certain social media groups, the Bank’s Management hereby wishes to categorically deny such statements as being true. To save any future doubt, none of the loans so discussed in the said forums have been written off.
– Sri Lanka Atomic Energy Board states at the Sectoral Oversight Committee The Sri Lanka Atomic Energy Board stated in the Sectoral Oversight Committee on Energy and Transport that if all activities go as planned, the first nuclear power plant can be built in Sri Lanka by 2032 with Russian technical support. This fact came…
Many centuries ago, Chinese people developed a talent to convert Celadon ware into musical instruments. It was basically shaving a Celadon to the thickness where it emits sounds when touched or rubbed. The sounds depended on the curvature of the bowl’s edge and the overall thickness. The Chinese civilization has produced many thousands of eminent…
By Rohan Parikh Sri Lanka needs a social housing plan. Over the years, I have repeatedly emphasized the detrimental impact of the housing shortage and high costs in Sri Lanka, particularly in the Colombo Metropolitan Area, on the country’s economic growth. We have witnessed how housing booms have coincided with and fuelled the economic miracles…
In 2020, the Hirdaramani Group announced their Future First initiative, a truly ambitious and comprehensive Sustainability Roadmap for 2025. As part of their commitment to transparency and accountability, the Group has released their second annual Sustainability Report with detailed data-driven updates on Hirdaramani’s progress in 2022 towards achieving the 28 targets they have committed to….
Reuters – The International Monetary Fund (IMF) mission in Sri Lanka will evaluate progress made on reforms so far and complete an exercise to improve governance in key areas of the economy, an IMF official said on Monday. An IMF team is in Colombo until May 23 as part of regular consultations ahead of the…
Director of the Asia and Pacific Department of the International Monetary Fund (IMF) Krishna Srinivasan says that Sri Lanka’s economy is expected to contract by 3 percent in 2023, before registering a modest growth of 1.5 percent in 2024. Mr. Srinivasan made this remark during a special press briefing in Colombo on Monday (15) with…
Video Story
