As a responsible banking entity that seeks to harness the potential of individuals and businesses in Sri Lanka, Seylan Bank, the Bank with a Heart, has identified SME Exports as a sector with much potential to contribute to the national economy. Acquiring foreign revenue is one of the critical needs at present. While worker remittances…
The Government of Myanmar donated a consignment of urgently required essential medicines and medical supplies worth over USD 1.48 Million to the Government of Sri Lanka, on 21 November 2022. The consignment was officially handed over to the Ambassador of Sri Lanka to Myanmar Janaka Bandara, by the Union Health Minister of Myanmar Dr. Thet…
The Sri Lanka Export Development Board (EDB) in collaboration with the University of Moratuwa, the National Center for Non-Destructive Testing (NCNDT) – Sri Lanka Atomic Energy Board, and Foundry Development and Services Institute (FDSI) successfully completed the workshop on Opto-mechanics and Introduction to Non-destructive Testing Methods at NCNDT premises in Kelaniya on 26th October. The…
Anton, a leading manufacturer in the Sri Lankan PVC industry, water tanks and roofing amongst industrial and consumer sectors, recently made history by introducing its vast product range to the Maldives. Since its establishment in 1958, Anton has pioneered, invented and made large-scale investments in the local industry, thereby vastly contributing to the nation’s economy….
Partnerships with the Private Sector enable development efforts to reach and support a wider network of people, enhancing development benefits, and contribute to achieving a sustainable development pathway in Sri Lanka. In the context of the ongoing socio-economic crisis, creating decent work, building future-oriented skills, spurring innovation, and providing essential infrastructure and affordable goods and…
With reliability and innovation as its primary focus, Hambantota International Port (HIP) is fast gearing to become the most efficient port in the region. Last week the port set a record by reducing 57% operational time in discharging marine fuel cargo of MV Yanbu. HIP also kicked off its first ever dual cargo loading operation at…
Bloomberg – With just two weeks to go until European Union sanctions come into force, Russia has already lost more than 90% of its market in the bloc’s northern countries, previously the mainstay of shipments from the Baltic and Arctic terminals.Russia shipped just 95,000 barrels a day to Rotterdam — its only remaining European destination…
Reuters – Sri Lanka’s central bank is expected to keep rates steady as inflation shows signs of easing and as authorities focus on discussions to secure a $2.9 billion International Monetary Fund (IMF) bailout to stabilise its crisis-hit economy. Thirteen out of 15 economists and analysts polled by Reuters forecast rates to remain unchanged at…
Emirates has announced plans to add one more daily direct flight between Dubai and Colombo from 1 December 2022 to cater to the seasonal increase in the demand for travel. The additional service, EK648/EK649, will increase the number of daily flights between the two cities to three, including two direct flights and one operating via…
A virtual event was held by Ernst & Young to conduct its 23rd post Budget discussion on November 15, 2022, for their clients on the theme ‘Managing Uncertainty: Ensuring Resilience’. The event commenced with the opening remarks from President Ranil Wickremesinghe, on the present state of the economy and an explanation of the underlying intention…
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