The Board of Investment (BOI) in collaboration with the Department of Immigration & Emigration and the Ministry of Defence today (10) launched the long-term residence visa scheme for condominium property holders in Sri Lanka. The official function was held at the BOI auditorium under the patronage of State Minister of Investment Promotion Dilum Amunugama, BOI…
Doha: The first of the three floating hotels has arrived in Qatar this morning. The cruise ship MSC World Europa docked at Old Doha Port to accommodate the FIFA World Cup fans during the tournament. The 22-deck highly anticipated ship which is bespoke for the 22nd edition of tournament, will officially be inaugurated on Sunday,…
Advocata Institute’s Bath Curry Indicator (BCI) , which tracks changes in the retail price of food in Colombo that typically goes into a packet of rice, recorded a year on year increase of 53% in October 2022. Compared to June 2022, prices of the BCI basket of food have been declining. The average price of…
By Imesha Dissanayake The COVID-19 pandemic and the subsequent economic crisis revealed vulnerabilities in the Sri Lankan economy and weakened its economic state. Given the severity of the challenges faced, the economy is now at a fragile state with many crises at hand. One such crisis is the electricity crisis where sporadic power cuts even…
The Joint Apparel Association Forum (JAAF) has urged the Government to urgently expedite negotiations on Free Trade Agreements (FTAs) to enhance the industry’s resilience and global competitiveness amid rising fears of a global economic recession. Elaborating on its rationale, the Association noted that FTAs have become an integral part of the global trading system, particularly…
Reuters – The International Monetary Fund (IMF) provisionally agreed a $4.5-billion support programme on Wednesday for Bangladesh, with the country’s finance minister saying the deal would help prevent economic instability escalating into a crisis. Bangladesh’s $416-billion economy has been one of the world’s fastest growing for years. But rising energy and food prices, sparked by…
Sri Lanka Export Development Board (EDB) in collaboration with the Canada Sri Lanka Business Convention and Ceylon Chamber of Commerce organized a business-to-business (B2B) meeting programme recently at the Cinnamon Grand Hotel, Colombo 2. A Canadian delegation of 14 high-profile businessmen were present for the B2B meeting programme while more than 60 Sri Lankan companies…
Group: Record half-year profit of AED 4.2 billion (US$ 1.2 billion) reflects strong turnaround and recovery after last year’s loss of AED 5.7 billion (US$ 1.6 billion). Revenue up 128% to AED 56.3 billion (US$ 15.3 billion). Emirates: Revenue up 131% to AED 50.1 billion (US$ 13.7 billion), and profit of AED 4.0 billion (US$…
World Bank Group President David Malpass met with President Ranil Wickremesinghe on Tuesday (08) in Sharm el-Sheikh, Egypt on the sidelines of the COP 27 climate change conference. President Malpass and President Wickremesinghe discussed the challenging macroeconomic and social situation in Sri Lanka and the urgent need to stabilize the economy. President Malpass emphasized the…
It was decided to appoint a special committee consisting four members to further study and make recommendations regarding the establishment of three Standing Committees to be established. This was decided at the Committee on Parliamentary Business held Wednesday (Nov. 08). Accordingly, the Committee on Banking and Financial Services, the Committee on Ways and Means, the…
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