Bloomberg – Sri Lanka’s cabinet endorsed a bill that aims to bolster the central bank’s autonomy and keep it out of fiscal management. Cabinet approval of the bill on monetary law is key to unlocking a pending $2.9 billion bailout from the International Monetary Fund. Sri Lanka’s parliament will have to discuss the bill before…
Issuance of VISA and fulfilling other relevant activities to the investors and other relevant parties expected to arrive for various services such as international trade, navel and monitoring, financial, information technology and tourism etc. that is expected to be established in the Colombo Port City should be done by the Department of Immigration and Emigration….
The Tea Exporters Association (TEA) at a recent meeting with Dr. Nandalal Weerasinghe, Governor, Central Bank clarified its position on the recent reports on repatriation and conversion of export proceeds by its’ members. The tea export business is highly working capital intensive: teas purchased at the auction are settled within 7 days while sales proceeds…
Event Management Association of Sri Lanka (EMA) celebrated a momentous occasion recently and signed a landmark bilateral Memorandum of Understanding (MoU), the first of its kind, with Event and Entertainment Management Association India agreeing to immensely strengthen the position of the industry both regionally and locally. This MoU was signed in the presence of the …
Reuters – Ghana on Monday suspended payments on most of its external debt, effectively defaulting as the country struggles to plug its cavernous balance of payments deficit. Its finance ministry said it will not service debts including its Eurobonds, commercial loans and most bilateral loans, calling the decision an “interim emergency measure”, while some bondholders…
With a steady increase in vessels calling at the Hambantota International Port (HIP), and the port’s industrial park attracting numerous FDI projects, HIP has tied up with Royale Electronics (Pvt) Ltd to establish a duty-free shop in their bonded area. The agreement was signed last week and the new facility will be opened for operations…
The Sri Lanka Export Development Board (EDB) ceremoniously launched Ceylon Cinnamon Geographical Indication (GI) Control Plan Guidance books at Ramada Hotel on 8th December. The financial assistance for the publication was provided by the International Finance Corporation (IFC) and the European Union (EU). Marking a moment of historical significance, Sri Lanka received its first ever…
Ajlan and Bros Holding Group (or Ajlan in short) is one of the largest comprehensive conglomerate holding group in the Middle East, Ajlan has established its presence in more than 25 countries around the world, with 75 companies in the fields of power, environment, industrial manufacturing, healthcare, tourism, technology, retail, real estate, garments and textiles,…
Standard Chartered Sri Lanka Chief Executive Officer Bingumal Thewarathanthri was elected as the Chairperson of the Sri Lanka Banks’ Association (SLBA) with immediate effect, at a recently concluded meeting of the SLBA Board of Directors. Prior to his appointment, Bingumal was a Vice Chairperson and Board Director of the Association. An industry veteran, Bingumal, better…
The Sri Lanka Export Development Board (EDB), in association with the Import Promotion Desk (IPD), Germany, successfully concluded a series of initiatives that fostered a new set of exporters to the nation’s economy. Since 2018, the EDB with the assistance of the IPD undertook a wide range of activities to open market access in the…
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