Earnings from the merchandise exports increased by 2.25 % y-o-y to US$ 1,128.7 Mn in July 2022 as per the data released by the Sri Lanka Customs. This was mainly due to the increase in earnings from export of Apparel & Textiles. Major Exports in July 2022 Major product sectors except Rubber based products, Coconut…
Hong Kong (CNN Business) – Gautam Adani was already Asia’s richest man. Now he’s also the world’s third richest person, overtaking LVMH (LVMHF) chairman Bernard Arnault and becoming the first Asian person to take that spot, according to Bloomberg and its Billionaires Index. Adani, who runs one of India’s top conglomerates, is now believed to be worth approximately $137 billion, the tracker…
Business Sentiment Despite the protracted period of suffering in recent months, Sri Lankans are gradually reclaiming a sense of their previous existence as the interminable wait in long queues has dwindled to minutes rather than hours and days, and basic necessities are in higher supply. Thank goodness for that island mentality and short memories. Soon,…
Blunt policy tools, a far cry from the ‘social market economy’’ proposed by the President and reformers in the opposition. Extraordinary Gazette No 2294/30 of 23rd August 2022, issued under the Import and Export Control Act No 1 of 1969 by the Ministry of Finance temporarily suspends the importation of over 300 items. This move…
Bloomberg – Pakistan secured a bailout from the International Monetary Fund to avert an imminent default as political turmoil and deadly flooding threaten the South Asian nation’s economy. The country can withdraw 894 million of the IMF’s special drawing rights, the Washington-based lender said in a statement on its website Monday. That’s the equivalent of…
(Reuters) – Sri Lankan President Ranil Wickremesinghe will on Tuesday slash defence and other expenditures in a bid to win International Monetary Fund (IMF) support as he presents his first budget since taking over as leader of his crisis-hit country. Officials hope the interim budget for the rest of the year will be followed by…
Deputy High Commissioner of Sri Lanka in Chennai Dr. D. Venkateshwaran, met Tourism Minister of Tamil Nadu Dr. M. A. Mathiventhan on 19 August, 2022 and discussed ways to promote tourism between Sri Lanka and Tamil Nadu. From South India, the island of Sri Lanka could be promoted in various tourism dimensions including Ramayanaya Yathra,…
Sri Lanka was further able to strengthen its cultural and historical friendship with its Indian counterparts by organizing the first ever ‘’Murugan Trail ‘’ from South India, which was a Media FAM Tour organized by the Sri Lanka Tourism Promotion Bureau, in collaboration with the Sri Lanka Deputy High commission in Chennai, from 3rd to…
Signals serious intent to enlarge footprint in healthcare sector Says synergies will enhance long-term value creation for policyholders Investment represents significant diversification of Company’s investment portfolio Heralds the next growth phase for Kings Ceylinco Life has entered into an exciting partnership with Kings Hospital (Private) Ltd, one of the newest and most modern private hospitals…
COLOMBO, Aug 29 (Reuters) – Sri Lanka’s president is set to slash expenditure when he presents an interim budget on Tuesday to see the crisis-ridden country through the rest of the year, amid discussions with the International Monetary Fund on a bailout package. The tourism-dependent nation of 22 million is facing its worst economic crisis…
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