Advocata’s Bath Curry Indicator (BCI) , which tracks the monthly changes in the retail price of food, recorded an increase of 14% from March 2022 to April 2022. This is a year on year increase of 49% for this basket of food. This is driven primarily by prices of dhal and samba rice being the…
A high level delegation from Japan’s Ministry of Foreign Affairs (MOFA) visited the Hambantota International Port (HIP), to get first hand information on a wide range of subjects relating to port activity and the economy of the southern part of Sri Lanka. Deputy Director, Foreign Policy Bureau, MOFA Hamada Takashi and Nakada Taihaku, Assistant Director, Policy Coordination Division,…
These remitting channels work as network arrangements and can be sometimes found within a particular community in the society. In these arrangements, the value transfers are facilitated by agents belonging to these networks who are located all over the world. In the Hawala channels, the Hawala agents or dealers (also known as Hawala Dars) live…
Sri Lanka is facing the worst socio-economic crisis in its history. This situation has arisen due to mismanagement. These issues have also been exacerbated by macro-economic factors such as the COVID-19 pandemic and the resulting economic downturn. A group of professional organizations, headed by the Chamber Of Young Lankan Entrepreneurs (COYLE) and comprising; the Chamber…
Reuters – Sri Lanka plans to replace its current “unrealistic” budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the country’s finance minister said on Wednesday. The island nation, hit hard by COVID-19 and short of revenue after steep tax cuts by President Gotabaya Rajapaksa’s…
Sri Lanka’s Micro, Small and Medium Enterprises (MSMEs) are the backbone of the nation’s economy. They account for up to 45% of job creation, make up nearly 75% of businesses in Sri Lanka, and also contribute up to 52% of GDP. However, the MSME sector often faces challenges when it comes to obtaining financing facilities…
The Granbell Hotel Colombo recently opened its doors, warmly welcoming all to experience a fusion of Japanese and Sri Lankan hospitality. The property is owned and managed by the leading Japanese company Belluna Co. Ltd, a listed company in the Tokyo Stock exchange. The Granbell Hotel Colombo, adds to a growing portfolio of properties around…
The SLASSCOM HR Forum, comprising of leading HR professionals of the IT/BPM industry, who is passionate about building a progressive national workforce that is armed with the requisite skills to meet the future needs of the industry, recently signed an MOU with the STEMUP Educational Foundation, to collaborate with it’s Internship Portal, “CareerLink”, that is…
SriLankan Airlines Ltd. welcomes and respects the rich debate in the public space on matters concerning the Operation of the Airline in General and the ‘Notice of Procurement’ for the Lease of Aircraft in specific. The Board and Management are of the opinion that the discussion on these topics would benefit from more full information….
External Debt and Debt Servicing External Debt Sri Lanka’s total external debt position increased in 2021, mainly with the increase in the external debt of the Central Bank and deposit taking corporations. The total external debt of the country increased to US dollars 50.7 billion at end 2021 from US dollars 49.0 billion by end 2020….
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