SriLankan Airlines is set to renew its commercial operations to China in the first week of April 2023, with a thrice weekly service each to Shanghai, Beijing and Guangzhou as China reopens its borders. China was a leading source market for inbound tourism to Sri Lanka and one of SriLankan’s premier leisure traveller segments before…
Concerns pertaining to releasing land expeditiously to suit the needs of investors when starting investments in Sri Lanka was looked into at the Select Committee of Parliament to study the practical problems and difficulties that have arisen in relation to enhancing the rank in the Ease of Doing Business Index in Sri Lanka and make…
The Government of Switzerland has contributed Swiss Francs (CHF) 500,000 through UNICEF to meet the urgent needs of children impacted by the economic crisis in Sri Lanka. With this funding, UNICEF will procure essential medical supplies, including medicines for treatment of illnesses and complications among children and women. In education, the funds will help children…
President Ranil Wickremesinghe as the Minister of Finance, Economic Stabilization and National Policy has instructed the Treasury Secretary to only provide provisions for essential government expenses in order to maintain public services until the state revenue situation improves. The list of expenditure to be funded include salaries, debt servicing, pensions, medical supplies for hospitals, subsidies…
COLOMBO, Feb 8 (Reuters) – Sri Lanka’s economy is expected to grow again from the end of this year and the government wants the country to exit bankruptcy by 2026, President Ranil Wickremesinghe told parliament on Wednesday. The Indian Ocean island of 22 million people has been struggling with its worst economic crisis since independence…
hSenid Business Solutions (hBS) reported its results for the period ended 31December 2022, with revenues up 16 percent year-over-year. Topline growth was supported by its core PeoplesHR Cloud offering, followed by Tracking Solutions. The group recorded 51 percent recurring revenues, driven by PeoplesHR Cloud. hBS continued its growth initiatives during the quarter, particular within the…
Financial Review Tokyo Cement Group (Tokyo Cement) reported its financial performance for the 3rd quarter that ended on 31st December 2022, with a turnover of Rs. 12,079 million reflecting a year-on-year decline of 12%. The Group recorded a profit of Rs. 559 million for Q3 FY2022/23, compared to a profit of Rs. 1,649 million in…
Having recognized the need to institutionalize financial consumer protection in the delivery of services by financial institutions regulated by the Central Bank of Sri Lanka, the Financial Consumer Relations Department of CBSL has developed a comprehensive set of new regulations aiming at introducing an integrated financial consumer protection framework for entities regulated by CBSL. These regulations are expected to…
PARIS : Paris Club Creditors have agreed to provide financing assurances to support the International Monetary Fund’s approval of an extended fund facility (EFF) for Sri Lanka, the Paris Club said on Tuesday. Paris Club members as well as Hungary, Saudi Arabia and India continue to look forward to working together along with all bilateral…
A Host Country Agreement was signed between the Government of Sri Lanka and the Global Green Growth Institute (GGGI) progressing Sri Lanka’s climate action and further deepening Sri Lanka’s green growth development. The agreement was signed in the presence of President Ranil Wickremesinghe and Former Secretary General of the UN and the President of the…
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