First 100 customized e-cycles handed over to delivery partners Yet another Uber initiative to promote sustainability on its platform Customized, delivery-friendly e-cycles: Range of 100+ km and top speed of 30 km/hr Uber Eats, Sri Lanka’s most loved food and grocery delivery platform, today brought on board 100 electric cycles on its platform. The e-cycles…
Direct exposures to Silicon Valley Bank (SVB) and Signature Bank among Fitch Ratings’ portfolio of rated banks in APAC appear limited, says Fitch. Weaknesses that contributed to the failure of the two banks are among the factors already considered in our rating assessments for APAC banks, but these are often offset by structural factors, such…
Reuters – Sri Lanka will introduce new central bank legislation with the intent of improving independence, accountability and price stability in the country, central bank governor Nandalal Weerasinghe said on Thursday. Sri Lanka is waiting for a $2.9 billion bailout program from the International Monetary Fund (IMF) to be finalised on March 20 and establishing…
The gradual recovery in economic activities which was observed in the year of 2021 when compared to the year 2020, along with the reducing of the COVID-19 pandemic, reversed the direction of performance of many economic activities and resulted in contraction of the whole economy. This is mainly caused by the deepening of the economic…
State Minister of Finance Shehan Semasinghe The on-going information survey and verification process for the verification of 1.1 million welfare benefit applications has been completed, according to State Minister of Finance Shehan Semasinghe. The highest verification rate of the 1.1 million welfare benefit applications is in the Kalutara District at 46%, followed by the Badulla…
The Sri Lanka Export Development Board (EDB) recently conducted an awareness seminar on “Facilitation of agricultural exporters under the Temporary Import for Export Processing (TIEP) Scheme”with the participation of 85 export companies from the agricultural sector. The main objective of conducting this awareness seminar by the EDB was to create awareness regarding the TIEP scheme…
Understanding the lack of vital business and technological education has been a key hurdle that rural Sri Lanka has faced in SME development, the SLASSCOM Women Technopreneurs Forum (W-Tech Forum) in collaboration with the Royal Norwegian Embassy rolled out a program focused on developing female entrepreneurs outside the Colombo district. The key focus of this…
Believes assurances received by China, India and Paris Club creditors are signs of attaining stability Commends progress made by Sri Lankan authorities in securing financing assurances The Joint Apparel Association Forum (JAAF) welcomes the progress made by the Sri Lankan authorities in securing financing assurances from China, India and the Paris Club creditors, paving the…
Issuing a communiqué, on releasing National Accounts Estimates, the DCS states that the year on year GDP growth rate for the year of 2022 has been estimated as 7.8 percent of negative growth rate, against the value reported in the previous year 2021. Further, the Gross Domestic Product for Sri Lanka for the year 2022…
(Bloomberg) – Sri Lanka fell into a deeper recession last quarter as borrowing costs at a two-decade high to rein in inflation took their toll on the US$89 billion economy. Gross domestic product (GDP) fell 12.4% in the three months to December from a year ago, according to data released by the statistics department on…
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