Bloomberg – Premier Li Keqiang told the head of the International Monetary Fund that China is open to participating in multilateral efforts to help heavily indebted nations in a constructive manner,” China Central Television reported. China is willing to take part in resolving relevant countries’ debt issues,” Li said in a phone call Wednesday with IMF…
The Food and Agriculture Organization of the United Nations (FAO), in collaboration with the United States Agency for International Development (USAID), is working together with the Ministry of Agriculture to increase the productivity and resilience of the rice-based ecosystems in the Dry and Intermediate Zones of Sri Lanka. Seventy-five percent of the 890,000 hectares of…
Sri Lanka’s Export Performance in January 2023 Sri Lanka’s merchandise exports decreased by 8.98 % to US$ 1,001.9 Million in January 2023 compared to January 2022 as per the data released by the Sri Lanka Customs. However, it is a 6.97% increase when compared to January 2021. Major Exports in January 2023 Export earnings from…
President Ranil Wickremesinghe has given instructions to digitize investment information to make it easily and quickly accessible to interested parties. The purpose of this move is to encourage and promote investment opportunities in Sri Lanka, allowing investors to identify new investment prospects with ease. In addition to this, the President has also pointed out the…
Reuters – The U.S. House Foreign Affairs Committee voted on Wednesday along party lines to give President Joe Biden the power to ban Chinese-owned social media app TikTok, in the latest setback for the popular video sharing site. Lawmakers voted 24 to 16 to approve the measure to grant the administration new powers to ban…
Seylan Bank reported a robust Profit before Tax (PBT) of LKR 6.6 Bn, a 10% growth for the year ended 31st December 2022 while recording a Profit after Tax (PAT) of LKR 4.7 Bn delivering a stable performance. The results were further buoyed by an impressive 72% rise in Net Interest Income (NII) for the…
Expolanka Holdings PLC, through its wholly owned subsidiary EFL Global LLC (EFL USA), a leading global supply chain and logistics solutions company, acquired 100% equity interest in Trans American Customhouse Brokers LLC and its related companies for a purchase consideration of USD 42.5Mn on a cash free, debt free basis. “The acquisition will enable EFL…
With India looking very positively at becoming a manufacturing hub for electric vehicles (EV), joint venture partners are looking very closely at Hambantota International Port (HIP) as the key transshipment point for their markets in the east and west of the island. HIP participated in the recently held ‘ET Auto Electric Vehicle Conclave 2023’ organised…
The People’s Convention for Good Governance was held at the BMICH in the midst of an exclusive audience , all of them invited and registered by the organizers, on 25th February . The Convener of this National Initiative Richard de Zoysa set the tone for the day by requesting the delegates to observe a minute’s…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) decreased to 50.6% in February 2023 from 51.7% in January 2023. The decline in the headline inflation is broadly in line with the disinflation path envisaged by the Central Bank of Sri Lanka (CBSL) in January 2023. The…
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