Sri Lanka’s rubber sector needs more investments, private and public, foreign and local, and thereby common industry infrastructure facilities will improve, Samson International PLC (SIL), one of the largest rubber product manufacturers in Sri Lanka stated. “Sri Lanka’s natural rubber has a high-demand in the world market due to its unique properties. The country now…
Appoints Frontier Capital lead Nishan Sumanadeera as legal and financial consultant to restructure and to restore confidence among foreign investors Amidst ongoing negotiations between key Japanese and Malaysian investors of Sri Lanka’s one of the pioneering investment bank – Asia Capital PLC (ACAP), the company has recently stepped into appoint a legal and financial consultant…
Innovative virtual and custom testing platform allows central banks to evaluate use cases and test roll-out strategies for CBDCs by simulating a CBDC ecosystem Central banks, commercial banks, and tech and advisory firms invited to partner with Mastercard to evaluate the suitability of CBDCs in a country or region With the global economy racing to…
Fitch believes Pakistan will start to lower its public debt-to-GDP ratio in 2022 under its IMF-supported programme, but projects a sustained increase for Sri Lanka throughout 2020-2022. Economic growth will turn positive for Asia in 2H20, but the process of fiscal consolidation is set to be more protracted for the region, says Fitch Ratings. The…
The Government has taken a policy decision to recommence oil and gas exploration, Co-Cabinet Spokesperson Udaya Gammanpila stated. “The Government has taken a policy decision to restart oil and gas exploration. This had been abandoned for many years. Accordingly, a policy on natural gas has been formulated. It is an essential factor in attracting investors….
The Cabinet of Ministers has given the approval to State-run Litro Gas Lanka Limited to purchase LPG empty metal gas cylinders from two Thailand companies for the year 2020. The proposal was tabled by Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Finance and the contract was awarded subject to the recommendation of the…
The Government has planned to issue legal documents to those who have occupied state lands without any formal documents. The Extraordinary Gazette in this regard was issued by the Land Commissioner General’s Department today (10). “In terms of the “Visions of prosperity and Splendour” policy statement, managing state lands at its optimum level to enhance…
The Cabinet of Ministers has approved the proposal for compulsorily advertising the publicity programmes, to the value of 25% of the advertising and publicity budget of the Government and semi- Government institutions through state media institutions. The decision was taken with the aim of reducing the burden placed by State media institutions on the national budget….
At present, only 40% of the country’s demand is met by fresh milk, with the remaining demand addressed by powdered milk imports. Currently, the country cannot meet the fresh milk demand due to the shortage of milk, Chairman of Lanka Milk Foods (CWE) PLC Deshamanya Harry Jayawardena stated. “In the aftermath of the COVID-19 pandemic, we…
The international financial institutions that were established to bring stability to the world economy and to foster economic growth such as the International Monetary Fund and the World Bank should now offer a “debt-standstill” for the year 2021 for all emerging and developing countries to tide over this difficult period, State Minister for Finance, Capital Market…
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