Blessed with an abundance of wildlife, Sri Lanka attracts a significant number of tourists every year visiting the island to experience the exotic creatures living in the stunning Natural Parks. The diverse wildlife spread across wet, dry and intermediate zones helps maintaining the natural balance in ecosystems while contributing to Sri Lankan economy at large….
There is a high risk the resurgence in coronavirus cases halts the global economic recovery by year-end, according to Reuters polls of around 500 economists, a majority of whom expected the rebound next year to be weaker than previously thought. Governments and central banks around the world have pledged trillions of dollars of stimulus, helping…
The Commercial Documents Registration Division (CDRD) of the Ceylon Chamber of Commerce with the purpose of providing an uninterrupted service to its customers’ is now geared to service 24x7x365 days via its online documents verification service https://e-co.lk and is now open on Saturdays for manual documents verification. Extended services are provided from Monday to Saturday…
The Sri Lanka Export Development Board (EDB) is currently facilitating to ensure that the operations of export industries remain uninterrupted during the curfew period in the country. To manage the COVID-19 situation, the export industries operating within the country have been advised to follow all the safety measures recommended by the health authorities during the…
‘Independence and sovereignty won’t be compromised in foreign relations’, says President US investments in Sri Lanka to go up Assistance to combat drug trafficking Indian Ocean should remain a peace zone The US Secretary of State Mike Pompeo told President Gotabaya Rajapaksa that the United States is ready to continuously engage with Sri Lanka in…
Influential global investment bank Morgan Stanley recently said a key weakness for Sri Lanka is the high proportion of short-term debt. “The proportion of short-term debt (original maturity) has increased sharply in the domestic markets and, even on the external side, Sri Lanka now faces a eurobond redemption every year until 2030 with a couple of maturities due…
Continuing its heavy focus on entrepreneurial and economic development island-wide, BOC has led the way in CBSL’s ‘Saubagya COVID-19 Working Capital Loan scheme, by being set to single handedly disburse Rs.42.8 Billion of the allocated total of Rs.150 Billion by CBSL. A sum of Rs.34.6 Billion has already been fully disbursed by the bank, which…
The construction of the wind power plant in Mannar is set to be completed by the beginning of 2021, the state information office said. A 100MW wind power plant is being constructed in Mannar under a US$200 investment from the Asian Development Bank (ADB). The physical progress of the project has reached 73% and the…
Sri Lanka Embassy in Oman and the Export Development Board of Sri Lanka (EDB) jointly organised a B2B virtual meeting between Al Hilal Fiber & Acrylic Industry LLC, a popular manufacturers of fiberglass & Acrylic finished products in Oman, and the Sri Lankan Companies namely, Neil Fernando & Co. (Pvt) Ltd, Danusha Group of Companies,…
LONDON (Reuters) – Sovereign default risks are on course to rise further in 2021, with Iraq, Sri Lanka, Angola and Gabon at high probability of default, say Goldman Sachs analysts. Five sovereign debt defaults or distressed debt exchanges – in which investors swap their debt for new bonds, often with longer maturities and a reduced…
