The National Consumer Price Index (NCPI) with an index reference period 2013=100 was updated to a new index reference period of 2021= 100 from January 2023. Issuing the NCPI, for the month of April 2023, the Director General of Census and Statistics said that headline inflation as measured by the Year-on-Year change (The percentage change…
Bloomberg – Sri Lanka is mulling measures to lure back Chinese tourists in a bid to alleviate an unprecedented debt crisis, its tourism minister said, as the South Asian nation tries to stabilize the economy. The country is targeting half a million Chinese tourists in 2024, nearly double its pre-Covid visitor levels, Tourism Minister Harin…
The Hirdaramani Group wishes to clarify recent social media reports regarding the closure of its leased facility, MRC Associates Garment (Pvt) Ltd, located in Meepe. The Group has made the decision to close the facility, offering employees the opportunity to relocate to its other factories across the island. This decision is primarily driven by the…
Powered by Microsoft Technology, DP Education aims to upskill and create a million young coders and reduce national unemployment Microsoft Sri Lanka and DP Education, the education arm of the Dhammika and Priscilla Perera Foundation, a not-for-profit organization, signed a Memorandum of Understanding (MoU) recently to empower the nation’s youth in digital literacy, knowledge to…
In a drive to provide enhanced protection against security threats in the banking industry, Hayleys Fentons Security and Surveillance Division, a leading provider of security and surveillance solutions in Sri Lanka, has completed a milestone security upgrade project for Sampath Bank and Nations Trust Bank. The project involved the installation of state-of-the-art technology in 260…
During the year up to 19th May 2023, the Sri Lankan rupee appreciated against the US dollar by 18.7 per cent, CBSL said. Given the cross currency exchange rate movements, the Sri Lankan rupee appreciated against the Japanese yen by 24.1 per cent, the pound sterling by 15.4 per cent, the Euro by 17.5 per…
Prepare to be dazzled as Havelock City Mall, the newest and most vibrant retail haven in Sri Lanka, opens its doors in August 2023. Get ready to immerse yourself in a world-class shopping extravaganza, right in the heart of Colombo! Nestled at the gateway of Havelock City, the largest and most innovative integrated mixed-use project…
The President instructs the authorities to submit a report within a month. Seeking youth ideas and suggestions to enhance the digital and green economies concurrently. President Ranil Wickremesinghe stated that he had directed authorities, including the State Minister in charge, to submit a report on the acceleration of the program to move the country towards…
Sri Lanka’s ability to overcome the current financial crisis heavily depends on export revenue. Foreign Direct Investments (FDIs), High Value Addition, Business-Friendly regulatory framework, and Research and Development (R&D) initiatives are necessary for Sri Lankan exporters to compete in international markets and establish connections to the Global Value Chain (GVC). Statistics show that Sri Lankan…
President Ranil Wickremesinghe stated that the government will be able to consider the financial concessions and privileges requested by the university lecturers after the domestic debt restructuring program is successfully completed and the country’s economy is stabilized by September. The President made these remarks during a discussion with the University Lectures’ Association held at the…
