Over 3.3 million applicants are eligible President Ranil Wickremesinghe has given directions for the initiation of “Aswesuma” welfare benefit payments, which are scheduled to commence from July 1st. The necessary gazette has been published in accordance with the authorities delegated to President Ranil Wickremesinghe as Minister of Finance, Economic Stabilization, and National Policy. Accordingly, these…
COLOMBO, May 9 (Reuters) – India has extended a $1 billion credit line for Sri Lanka by one year, a Sri Lankan official told Reuters on Tuesday, giving the crisis-hit country a backup funds to pay for essential imports. The credit line, part of about $4 billion in emergency assistance extended by India during the…
Imposition/ Collection of Administrative Penalties by the Financial Intelligence Unit (FIU) to Enforce Compliance on Financial Institutions from 17 November 2022 to 31 March 2023 By virtue of the powers vested under Section 19 (1) read together with section 19 (2) of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), financial penalties are…
According to the latest tourism statistics, Sri Lanka has seen an increasing number of tourist arrivals, marking 441,177 arrivals for the first quarter of the year. This is seen as a considerable change compared with last year’s tourist arrivals which was only 719,978 up to December 2022. As one of its key source markets, Sri…
TOKYO, May 9 (Reuters) – As Sri Lanka’s creditor nations prepare for their first meeting on Tuesday to co-ordinate restructuring of the Indian Ocean nation’s debt, the focus is turning to whether China will attend. The meeting, within a new framework launched in Washington D.C. in April that creditors hope will serve as a model…
Khaleej Times – SriLankan Airlines is expected to invite bids for stake sale in the coming months, as the national carrier has reached breakeven and expects to be profitable next year. While speaking on the sidelines of the Arabian Travel Market in Dubai on Thursday, Richard Nuttall, CEO, SriLankan Airlines said the decision will be…
The Ceylon Chamber of Commerce is pleased to announce the appointment of Mr. Buwanekabahu Perera as its new Secretary General/Chief Executive Officer, effective May 8, 2023. Mr. Perera takes over from Mr. Manjula de Silva who retired from the position after serving in that capacity since February 2020. Ms. Alikie Perera will continue in her…
‘A Business Forum to enhance the collaboration and strengthen the relationship of Sri Lankan Business Community in Australia, and support Social and Economic recovery of Sri Lanka’. The CA Sri Lanka – Australia Chapter Inc. recognises the important role our business diaspora can play in social and economic recovery efforts of Sri Lanka. Establishing a…
Manufacturing high-end leatherwear since 1982; asserts country remains top spot for investors When Sri Lanka opened its Free Trade Zones in Katunayaka, Biyagama and Koggala in the mid ‘70s and ‘80s, the country’s unique geographic location proved to be the biggest advantage to prospective foreign investors who saw immense potential in the tiny island. Being…
Browns Investments PLC has issued an official announcement to the Colombo Stock Exchange today (08) regarding the acquisition of 85% holding of James Finlay (Kenya) Limited (JFK). The full corporate disclosure is as follows; B Commodities ME FZE UAE which is a subsidiary of Browns Investments PLC (BI), entered in to an agreement on the…
