One of the main objectives of the Government’s National Policy Framework is to create a Smart Nation. Under this, the establishment of a citizen-centric digital government and the establishment of a digitally empowered economy have been identified as strategies to achieve the government’s vision. Accordingly, the need has been identified to create a secure communication…
Thirty-two highly skilled Software Engineers from Sri Lanka who were recently recruited on work permits by the new generation technology company iGreenData to work in Australia, visited the Consulate General of Sri Lanka in Melbourne recently. iGreenData, headquartered in Melbourne, commenced business in 2018 and is a company with a focus on Cloud, Data and…
NOTICE TO THE PUBLIC – MONEY CHANGERS The public is hereby notified that in terms of the provisions of the Foreign Exchange Act, No. 12 of 2017, Money Changers have been prohibited from offering higher exchange rates to customers beyond the exchange rates offered to such Money Changers by Licensed Banks. The Money Changers have…
Reuters – Sri Lanka has sought an additional credit line of $1 billion from India to import essentials amid its worst economic crisis in decades, two sources said on Monday, as the Indian foreign minister began talks with the government of its neighbour. The island nation is struggling to pay for essential imports of food and…
The Board of Investment (BOI) of Sri Lanka recently entered into an agreement with the Asia Pacific Institute of Information Technology (APIIT), to set up an expansion of its operation in Kandy. The agreement was signed by BOI Chairman Eng. Raja Edirisuriya and APIIT Chairman Bandula Egodage. APIIT Kandy will be developed as a modern…
SriLankan Airlines announces the suspension of operations between Sri Lanka and Moscow, Russia with effect from today due to operational restrictions that are outside of the airline’s control. The restrictions are in the form of international financial and aircraft insurance limits which have been imposed on Russia due to the ongoing Russia-Ukraine war, and directly…
Bloomberg – Sri Lanka will have to undergo debt restructuring as strongly suggested by the International Monetary Fund in order to secure financing from creditors, according to Citigroup Global Markets. The prescription follows IMF’s observation that fiscal consolidation efforts alone to pare debt to safe levels would be too large to be economically and politically…
Currently evaluating 5-10 startups for investment Sri Lanka’s first Angel Fund has, to date, channelled investments up to Rs. 150 Million cumulatively into four home-grown startups – Niftron, Magicbit, Mintpay & Chakra Suthra – while also helping these companies scale and access new markets both at home and abroad. “Since August 2020, our team has…
Korean Ambassador Santhush Woonjin Jeong met BOI Chairman, Eng. Raja Edirisuriya to discuss ways to attract more Korean investments to Sri Lanka at the Board of Investment premises. BOI Chairman, Eng. Raja Edirisuriya emphasised the importance of boosting foreign investment to overcome Sri Lanka’s current economic challenges. Attracting more foreign direct investments from Korea and…
The Silk Road Journal by Mahika Ming According to Chinese trade sources the Peoples Republic of China (PRC) was ranked second largest foreign capital inflow destination in the world by the United Nations Conference on Trade and Development (UNCTAD) in 2021. Recording a yearly increase of 32%, China has attracted more than USD 334 billion…
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