Senior delegations from three leading British independent schools visited Colombo for discussions with the Colombo Port City Economic Commission and senior management of Port City Colombo earlier this month, pertaining to the development of an International School at the Port City Colombo. These schools are backed by a rich heritage going as far back as…
The Commercial Bank of Ceylon has announced that it has opened an Indian Rupee denominated Nostro Account at the 116-year-old Indian Bank – Mumbai, to facilitate trade transactions between Sri Lanka and India. The Bank said this decision follows the Central Bank of Sri Lanka (CBSL) classifying the Indian Rupee as a designated foreign currency…
A business delegation of the Sverdlovsk Region of the Russian Federation recently paid a courtesy visit to the Board of Investment of Sri Lanka (BOI) and called on BOI Chairman Dinesh Weerakkody, Director General M Weerakone and other top officials. The objective of the visit is to discuss investment opportunities, the attraction of FDIs from…
(Reuters) – Sri Lanka’s central bank held interest rates steady for a third straight meeting on Wednesday, as widely expected, saying the prevailing tight monetary stance is crucial to taming still-high inflation and restoring economic stability. The island nation of 22 million people, which is trying to clinch a $2.9 billion IMF funding package, is in…
The Colombo Dockyard PLC, a Board of Investment (BOI) registered establishment, launches 2nd vessel of a series of six numbers 5000DWT Eco Bulk Carriers being built for Misje Eco Bulk AS, Norway (Misje). BOI Director General Renuka M Weerakone graced the ceremonial launching, which was held at Dock No 2 of CDPLC premises on January…
The French manufacturing giant, Michelin, the second largest tyre manufacturer in the world, recently signed six supplementary agreements with the Board of Investment (BOI), worth US$ 20.94 Million, denoting a gesture of expressing confidence in expanding business in Sri Lanka amid economic challenges, and thereby, bolstering the partnership with the BOI. The agreement signing in…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 24 January 2023, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50 per cent and 15.50 per cent, respectively. The Board, having noted…
NEW DELH/COLOMBO, Jan 24 (Reuters) – The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country’s efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters. India wrote to the IMF earlier this month,…
Tianjin Port Group and Huawei announced this week that the two companies will deepen cooperation to build a digital twin of the port, making it more automated and intelligent. Yang Jiemin, Vice President of Tianjin Port Group, explained that this plan consists of three parts: Construction of new automated terminals, upgrading of traditional terminals, and…
The sub-committee of the Committee on Public Accounts (COPA) focused on the preparation of a joint plan to train workers with the aim of providing quality workers to the foreign job market. This was discussed in the COPA sub-committee to review the training program prepared by the inter-ministerial committee regarding the referral of quality and…
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