The Asian Development Bank’s (ADB) annual flagship economic publication, the Asian Development Outlook (ADO) April 2023, forecasts Sri Lanka’s economy to contract further in 2023 before it begins a gradual recovery in 2024, as the country navigates an unprecedented economic crisis. The economy contracted by 7.8% in 2022 and is forecast to contract by 3% in…
Premier hospitality company Aitken Spence Hotels iconic resort Heritance Kandalama is at the centre stage at the National Gallery of Modern Art (NGMA) Delhi at the ‘Geoffrey Bawa: It is Essential to be There’ architectural and photographic installation, in its first of its kind exhibition drawing inspiration from Bawa’s archives and practice. The world-renowned architect…
Pursuant to the enactment of the Securities and Exchange Commission (SEC) of Sri Lanka Act No 19 of 2021 (New SEC Act), the Stockbroker rules of the Colombo Stock Exchange (CSE) and the Central Depository Systems (CDS) have been revised. This is in order to ensure consistency with the said New SEC Act. Accordingly, the…
Sri Lanka’s heightened fiscal, external, and financial sector imbalances and its fluid political situation pose significant uncertainty for the country’s economic outlook, says the World Bank in its twice-a-year update, underscoring the need to address the root causes of the country’s economic crisis and build a strong and resilient economy to prevent future crises. Released…
Veteran Export Professional Dr. Kingsley Bernard assumed Chairmanship of the Sri Lanka Export Development Board (EDB) on 3rd April. He succeeds the outgoing Chairman Suresh D de Mel who ended his tenure last month. Addressing the EDB staff upon assuming duties, the new EDB Chief remarked a quantum leap in export performance is necessary and…
The SriLankan Airlines’ Cargo Team recently put heads together with an ensemble of international cargo sales agents to strategize for future growth and value creation. The Strategic Planning Meeting took place amid a challenging trade environment, in which SriLankan Cargo has also had to contend with reduced capacity as a result of rising passenger demand…
The John Keells Group signed an agreement contributing LKR 100 million toward the Suwa Seriya Foundation for use in the operations of the Suwa Seriya Ambulance Service. The contribution aims to support the ambulance service, which has been facing financial constraints, and will allow the service to continue providing lifesaving emergency medical assistance in Sri…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 04 April 2023, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 15.50 per cent and 16.50 per cent, respectively. Having considered the recent…
Sri Lanka Agripreneurs’ Forum (SLAF), as the leading agribusiness association in Sri Lanka, commends the President’s plan to plant 3 million jackfruit trees as a part of the government’s food security program to create a local and foreign jackfruit market and to promote jackfruit among the Sri Lankan people. This ambitious plan will not only…
The Association of Human Resource Professionals (AHRP), in partnership with the Society of Human Resource Management (SHRM) and Platinum Sponsor ZingHR, recently concluded its Human Resource Think Tank (HRTT) series for the 4th consecutive year. The event provided a platform for industry leaders to discuss and discover solutions to challenges faced by the HR fraternity,…
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