After several years of hiatus, the Galle Literary Festival is set to make a grand return, thanks to the directive from President Ranil Wickremesinghe. With a focus on promoting the tourism industry, a series of programs featuring various art forms will be held in the areas of Galle, Matara, Ahangama, and Hikkaduwa in January 2024….
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) decreased to 35.3% in April 2023 from 50.3% in March 2023. The lower level of realised inflation compared to the projections made, was mainly due to higher than expected price decreases observed in Volatile Food and Non-Food items….
LAUGFS Holdings Limited, one of Sri Lanka’s largest diversified conglomerates with a portfolio of over 20 businesses spanning multiple industries, and the only Sri Lankan company with its own lubricant blending license, under LAUGFS Lubricants, a brand known locally and internationally, recently ventured into international market to expand its service offering to the Maldives as…
LONDON/NEW YORK, April 28 (Reuters) – Sudan’s eruption into conflict has left international consumer goods makers racing to shore up supplies of gum arabic, one of the country’s most sought-after products and a key ingredient in everything from fizzy drinks to candy and cosmetics. About 70% of the world’s supply of gum arabic, for which there are…
Reuters – Sri Lanka’s economy is expected to shrink by 2% in 2023, its central bank said in an annual report on Thursday, as the country struggled to emerge from its worst financial crisis in decades. The central bank projected Sri Lanka’s economy would grow by 3.3% in 2024, according to the report. The economy…
During a recent meeting at the Presidential Secretariat in Colombo, President Ranil Wickremesinghe emphasized that the government is committed to carrying out its agricultural modernization plan. However, he also highlighted certain issues that need to be addressed in the sector. One of the main challenges mentioned by the President was related to the Mahaweli Authority…
Seylan Bank PLC, has announced the appointment of Ramesh Jayasekara as its new Director/Chief Executive Officer, effective from 1 May 2023. Having joined Seylan Bank in 2011 as Chief Financial Officer, Ramesh was later appointed Chief Risk Officer in 2016 and assumed the role of Deputy General Manager – Corporate Banking from 2018 until 2019….
With the recent introduction of Indian Rupees (INR) as a designated foreign currency by the Central Bank, Standard Chartered Sri Lanka has completed its first INR transaction for a multinational corporate client in the form of an outward telegraphic transfer between Sri Lanka and the Bank’s office in Mumbai India. The transaction was executed via…
In terms of Section 35 of the Monetary Law Act No. 58 of 1949, the seventy third Annual Report of the Monetary Board of the Central Bank of Sri Lanka was presented today (27 April 2023) to Hon. Ranil Wickremesinghe, the President and Minister of Finance, Economic Stabilization and National Policies, by Dr. P Nandalal…
SriLankan Aviation College, the training arm of SriLankan Airlines, has etched a landmark partnership with the prestigious Embry-Riddle Aeronautical University to bring highly coveted aviation programs to Sri Lanka and the region. This affiliation will greatly improve the accessibility to highly sought-after qualifications in aviation at a fraction of the cost as the programs can…
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