Earnings from exports increased in July 2022, while import expenditure declined for the fifth consecutive month, on a year-on-year basis. The notable decline in import expenditure in July 2022 reflected the impact of overall moderation of activity amidst forex liquidity strains in the banking system, while the policy measures to curtail non-urgent import expenditure also…
Several Swedish and Sri Lankan partners came together last week to present Sri Lanka’s vibrant culture, cuisine, dance and destination at the ‘Sri Lanka Cultural Festival’ held in the Etnografiska Museum and Matamekka, Djurgårdsbrunnsvägen, Stockholm. The festival also portrayed the myriad facets of Sri Lanka’s arts, literature, heritage and history, creative industry, ayurveda and wellness,…
International apparel firms are doubling down on their investments in Sri Lanka and are expanding their production capacities, sending positive signals even in the midst of a historic economic meltdown. An internationally reputed producer of accessories for the global lingerie industry – Prym Group is a company with a rich legacy of close to 500…
Three Sri Lankan companies namely PT Expo Freight-EFL, PT Advantis Akaza, and Hayleys Aventura (Pvt) Ltd. promoted their products and services at a stall organized by the Embassy of Sri Lanka in Jakarta, at the exhibition “Muslim Life Trade 2022”. This exhibition was held from 26 -28 August 2022 at the Indonesia Convention Exhibition (ICE) BSD, Tangerang,…
Bloomberg – Sri Lanka is contending with a high risk of default on its local currency bonds as it seeks to reduce debt, key to winning financing from the International Monetary Fund to bring relief to the crisis-hit island. Fitch Ratings’s ‘CCC’ rating on long-term local currency debt that was affirmed in May “reflects a…
Friedrich Naumann Foundation for freedom Sri Lanka (FNF) and JAAR Corporate Solutions launched a report on ‘Public Private Partnership Model for CPC: An analysis of Opportunities and Challenges at a special event held in Colombo. This report stresses the importance of public-private partnership (PPP) in the energy sector in Sri Lanka. The report highlights the…
The opening ceremony of the Stoma Clinic Extension and new wing of the Gastroenterology Clinic at the Lady Ridgeway Hospital for Children was held today. The stoma care clinic is affiliated with the gastroenterology unit of the hospital. The duo form Sri Lanka’s first and only paediatric stoma clinic and paediatric gastroenterology unit. Originally established…
Currently, LAN and the Angel Fund is enabling Chakra Suthra, Mintpay and Magicbit to scale both within Sri Lanka and abroad Sri Lanka’s first Angel Fund completed funding rounds for Chakra Suthra and Mintpay as of its most recent operational quarter. Further, the Fund aided a third startup, Magicbit, in growing its team and setting…
SLASSCOM and the Lankan Angel Network have signed a Memorandum of Understanding (MOU) to collaborate in assisting start-ups and entrepreneurs in Sri Lanka’s tech sector to secure funding. As a result of this partnership, Sri Lanka will directly benefit in terms of an increase in the levels of demand and supply for knowledge workers, growth…
The Digital Marketing Association of Sri Lanka (DMASL) has partnered with the Ministry of Tourism to provide consultation and insight on digital marketing to promote tourism in Sri Lanka. The partnership aims to assist the Tourism Ministry to revitalize and enhance the tourism industry by maximizing its reach and results through digital marketing, which in…
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