President Ranil Wickremesinghe said that an environment will be created for small and medium-scale industrialists to become successful using modern technology and the government is ready to empower the industrialists as the main stakeholders in earning foreign exchange for Sri Lanka. President Wickremesinghe made these remarks at the 21st ‘Achiever Awards 2022’ which was organized…
Issuing the National Consumer Price Index (NCPI), for the month of November 2022, the Director General of Census and Statistics said that headline inflation as measured by the Year-on-Year change (The percentage change in the current month NCPI over same month NCPI of last year) based on the NCPI has been compiled as 65.0%. The…
Celebrating the re-opening of the Emirates Lounge in Concourse C, Dubai International Airport – the 7th Dubai lounge to reopen after the pandemic, premium passengers can look forward to an exceptionally comfortable travel experience during the upcoming peak travel period, as more than 30 Emirates Lounges around the world have returned to full service. Located…
Bloomberg – Sri Lanka’s cabinet endorsed a bill that aims to bolster the central bank’s autonomy and keep it out of fiscal management. Cabinet approval of the bill on monetary law is key to unlocking a pending $2.9 billion bailout from the International Monetary Fund. Sri Lanka’s parliament will have to discuss the bill before…
Issuance of VISA and fulfilling other relevant activities to the investors and other relevant parties expected to arrive for various services such as international trade, navel and monitoring, financial, information technology and tourism etc. that is expected to be established in the Colombo Port City should be done by the Department of Immigration and Emigration….
The Tea Exporters Association (TEA) at a recent meeting with Dr. Nandalal Weerasinghe, Governor, Central Bank clarified its position on the recent reports on repatriation and conversion of export proceeds by its’ members. The tea export business is highly working capital intensive: teas purchased at the auction are settled within 7 days while sales proceeds…
Event Management Association of Sri Lanka (EMA) celebrated a momentous occasion recently and signed a landmark bilateral Memorandum of Understanding (MoU), the first of its kind, with Event and Entertainment Management Association India agreeing to immensely strengthen the position of the industry both regionally and locally. This MoU was signed in the presence of the …
Reuters – Ghana on Monday suspended payments on most of its external debt, effectively defaulting as the country struggles to plug its cavernous balance of payments deficit. Its finance ministry said it will not service debts including its Eurobonds, commercial loans and most bilateral loans, calling the decision an “interim emergency measure”, while some bondholders…
With a steady increase in vessels calling at the Hambantota International Port (HIP), and the port’s industrial park attracting numerous FDI projects, HIP has tied up with Royale Electronics (Pvt) Ltd to establish a duty-free shop in their bonded area. The agreement was signed last week and the new facility will be opened for operations…
The Sri Lanka Export Development Board (EDB) ceremoniously launched Ceylon Cinnamon Geographical Indication (GI) Control Plan Guidance books at Ramada Hotel on 8th December. The financial assistance for the publication was provided by the International Finance Corporation (IFC) and the European Union (EU). Marking a moment of historical significance, Sri Lanka received its first ever…
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