In a note to the Cabinet, President Ranil Wickremesinghe, in his capacity as the Minister of Finance, Economic Stabilization and National Policies, stated that the Government revenue at present (January 2023) is far below the monthly expenditure for the month of January 2023. As a result, the President noted that the General Treasury finds it…
Daraz Sri Lanka and Sri Lanka Association for Software Services Companies (SLASSCOM) released the first in-depth study on the adoption and use of e-commerce in Sri Lanka during difficult economic times at a roundtable discussion held in Colombo on Monday 30th January 2023. The report titled “E-commerce: A Driver of Inclusive Growth in Sri Lanka?”…
Local bonds amount to half of country’s $70 billion debt pile Sri Lanka seeks to restructure foreign debt, repay local bonds Bloomberg – Holders of Sri Lanka’s foreign bonds want more clarity on the nation’s local-currency debt before they sit down for formal restructuring talks, according to people familiar with the situation. Creditors are concerned…
SINGAPORE/WASHINGTON, Jan 31 (Reuters) – The International Monetary Fund on Tuesday raised its 2023 global growth outlook slightly due to “surprisingly resilient” demand in the United States and Europe, an easing of energy costs and the reopening of China’s economy after Beijing abandoned its strict COVID-19 restrictions. The IMF said global growth would still fall…
US Treasury Secretary Janet Yellen visited African countries in January aiming to promote economic ties & partnerships between the USA & Africa. In Zambia she called on China to address Zambia’s heavy debt burden while ensuring US commitment to help Africa face China-driven “debt-traps”. She seems to have purposely ignored the win-win south-south cooperation which ensures sustainable…
Sri Lanka’s Export Performance in December 2022 Earnings from the merchandise exports decreased by 9.7 % y-o-y to US$ 1,044 Mn in December 2022 as per the data released by the Sri Lanka Customs. This was mainly due to the decrease in export earnings from Apparel & Textiles, Tea, Rubber based Products, and Coconut based…
The Ceylon Chamber of Commerce (CCC) recently launched the 8th edition of its flagship annual Outlook Report for 2023 at the Economic Outlook 2023 seminar. The Report was launched in the presence of Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka who delivered the keynote address. Compiled by the Economic Intelligence Unit…
Emirates will join Sri Lankans in celebrating the country’s milestone 75th anniversary of Independence by serving traditional local delicacies in its lounge at Bandaranaike International Airport (BIA). On 4 February, Emirates’ First and Business Class passengers and Skywards Gold members visiting its dedicated lounge, located on the second floor of the Arrivals Terminal, will be…
Ceylon Miracle Journeys Pvt Ltd together in partnership with Sri Lanka Railways and the Ministry of Tourism have embarked on a new journey that offers passengers an iconic rail experience to the misty mountains of Ella in five star comfort. The luxury rail service will commence on the 14th of February 2023. The breathtaking experience…
The Sri Lankan Convention Bureau (SLCB) and SriLankan Airlines (SLA), together in partnership, under the aegis of the Ministry of Tourism and Lands, recently announced the official launch of “MICE – EXPO 2023” at a special press conference. The event, which is a MICE tradeshow for promoting Sri Lanka as the perfect destination for Meetings,…
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