Reuters – Sri Lanka has invited bids for state-run carrier SriLankan Airlines as the island nation looks to reduce losses incurred by government-owned enterprises under a $2.9 billion International Monetary Fund (IMF) programme. The South Asian country secured a staff level IMF agreement on the first review of its bailout recently but it still needs…
Sri Lanka’s mobile operator community announced the commercial launch of new industry-wide network APIs, as part of the GSMA Open Gateway initiative. In doing so, they will help developers and businesses accelerate the growth of digital services and apps, by ensuring they work seamlessly with all the country’s mobile networks and hundreds of others around the world….
The Sri Lanka Economic Summit 2023, the premier and most anticipated annual economic event in Sri Lanka, will be inaugurated by President Ranil Wickremesinghe, under the theme Sustain Reform, Accelerate Growth on 28th November at the Shangri-La Hotel, Colombo. The two-day summit will focus on Sri Lanka’s progress towards meeting the structural benchmarks outlined under…
In an effort to streamline the Aswasuma benefit program and address ongoing concerns, the Ministry of Finance has announced the implementation of an ‘Aswasuma Week’ from November 6th to 11th. The objective of this initiative is to promptly rectify the issues plaguing the program and ensure that deserving beneficiaries receive their entitled support without further…
Ms. Anna Bjerde, Managing Director for Operations of the World Bank, and Martin Raiser, Regional Vice-President of the World Bank for South Asia, conducted a field visit to the Climate Smart Farmer Training School in Thirappane yesterday (29). The purpose of their visit was to assess the progress of the Climate Smart Irrigated Agriculture Project…
The Government of Sri Lanka (GoSL) intends to divest all or part of equity shareholding in Canwill, the parent company to Sinolanka Hotels & Spa (Pvt) Ltd (Sinolanka) and Helanco Hotels & Spa (Pvt) Ltd (Helanco). I. Sinolanka: Owns an under-construction top tier landmark hospitality asset in Colombo, built to Grand Hyatt specks since Sinolanka has entered into a…
Shadows loom large as the pendulum swings yet again amid multiple sensitivities Business confidence remains clouded by ongoing developments – and heavily dependent on their outcomes. The IMF’s review of the four-year Extended Fund Facility (EFF), ongoing debt discussions with creditors, rapid disinflation, fluctuating fuel prices and the added complexity of the Israel-Palestine conflict –…
The transmission line will support India’s decarbonization efforts Adani Energy Solutions Ltd. (AESL) has commissioned a new green evacuation transmission project in Tamil Nadu state. The project includes the establishment of the 400/230 kV, 1000 MVA Karur Pooling Station, along with its associated transmission Line In & Line Out (LILO) of the 400 kV D/C…
The Central Bank of Sri Lanka co-hosted the CBSL-ADBI-APAEA Workshop for the fourth consecutive year, in collaboration with the Asian Development Bank Institute (ADBI) and the Asia-Pacific Applied Economics Association (APAEA), on 27 October 2023 at the John Exter International Conference Hall of the Central Bank. This year’s conference was held under the theme of…
They say cowards die many times & the brave only once. There must be many who bravely invested in the ventures of late Lalith Kotelawala (LK) & die daily due to the fall. They may know if LK died once or not after his fall from fame in 2008. LK once said that he grew…
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