Overall exports: Earnings from merchandise exports declined by 11.3 per cent in January 2023, over January 2022, to US dollars 978 million, continuing the moderation observed since September 2022, though at a slower pace than expected. This decline was observed across all main categories, and the compression of industrial exports was noticeable. Industrial exports: Earnings from the exports…
Representatives from the World Bank stated that the World Bank will continue to support Sri Lanka’s development reforms program. They stated that the World Bank will provide technical assistance in the drafting of laws for development policy operations, as well as work to provide additional guidance and support regarding the use of international media and…
Business Sentiment – BIZ Confidence in a Tailspin “As soon as adequate assurances are obtained and the remaining requirements are met – including by the Sri Lankan authorities – the Extended Fund Facility (EFF) can be presented to the IMF’s Executive Board for approval, which would unlock much needed financing,” a spokesman for the so-called…
Nestlé Lanka PLC appointed Bernhard Stefan as its Managing Director effective 1 March 2023, succeeding Jason Avanceña whose term ends 28 February 2023. Jason, who successfully led Nestlé’s operations in Sri Lanka and the Maldives through unprecedented challenges during his tenure, will move on to a new role as the Managing Director of Nestlé Pakistan…
Discussions were held in the National Council Sub-Committee to identify short- and medium-term programs related to stabilization regarding rural credit and social security programmes. This was discussed (23) when the National Council subcommittee met in Parliament under the chairmanship of Member of Parliament Hon. Patali Champika Ranawaka. Representatives including the Central Bank of Sri Lanka,…
Uber partners with Sling Mobility to onboard 2w EVs: Thanushika Sivanathan, Country Manager, Uber Sri Lanka and Love Yadav, Co-founder, Sling Mobility Pvt. Ltd. Uber, one of Sri Lanka’s leading ridesharing apps, announced a pilot with Sling Mobility, a global provider of platform as a service (PaaS) for building a smart EV ecosystem. As part…
On an invitation extended by the Expo 2030 Roma Committee Director General Giuseppe Scognamiglio offering fully hosted participation, Sri Lanka took part at Milano BIT 2023, International Tourism Exchange which was held at the Allianz MiCo, Milan Convention Centre from 12 to 14 February 2023 facilitated by Sri Lanka Tourism Promotion Bureau and Sri Lanka…
Sri Lanka is at a critical moment in its history. Years of economic mismanagement, weak governance, poor policy choices, and the impacts of external shocks such as the COVID-19 pandemic and the Russian invasion of Ukraine, plunged the country into its worst-ever crisis in 2022. Economic collapse and political instability have devastated lives and livelihoods…
A delegation from Sri Lanka participated in the BIOFACH Trade Fair, the world’s largest annual organic food products trade show held from 14-17 February 2023 in Nuremberg, Germany. This annual trade fair held since 1990 attracts food industry professionals from across the world. This year, 2,765 exhibitors from 95 countries participated in the trade fair. The fair was…
The Mindanao conflict in the Philippines affected peace in the archipelago for decades. The Moro Islamic Liberation Front was fighting with the Philippine government seeking an autonomous region for the Muslims. About a decade ago Agriculture officials introduced the “Arms to Farms” concept which has by now proven a successful human development initiative. Ex-combatants were…
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