In September 2022, Purchasing Managers Indices indicate marginal expansion for Services activities and contraction for Manufacturing activities. Manufacturing PMI declined in September 2022, indicating a setback in manufacturing activities on a month-on-month basis. Services PMI recorded an index value of 51.2 in September 2022 indicating a marginal expansion in the services sector. The decline in…
Japan is working to organize a meeting of Sri Lanka’s creditors by the end of this year in hopes of solving that country’s debt crisis, The Yomiuri Shimbun has learned. The meeting, which will discuss such issues as finding ways to reduce debt payments, aims to curb China’s influence by helping Sri Lanka cope with…
The Ceylon Chamber of Commerce acknowledges the rationale for the recently proposed tax changes and calls on the Government to show greater restraint, accountability and transparency on government spending. While the tax hike will invariably impact businesses and private sector employees adversely in the current context of high inflation and negative economic growth, it is…
The Tea Export sector that annually brings revenue of about USD 1.3 billion is concerned about the proposed corporate income tax of 30% by the government on the export sector as it could seriously hinder the industry efforts for revival. The sector is currently going through a challenging period due to a number of internal and external issues and this increase of…
Discussions held at the National Council sub-committee on identifying short and medium-term programs related to Economic Stabilization The National Council sub-committee on identifying short and medium-term programs related to Economic Stabilization took to discussion that a large number of medications imported into Sri Lanka are not essential for the use of the people of Sri…
The deepening economic crisis is forcing people to make heartbreaking choices between going hungry, buying life-saving medicine, or finding the money to send children to school. A needs assessment by the International Red Cross and Red Crescent Societies reports of more than 2,900 households in 11 of the country’s 25 districts has found that 96%…
By Prof. Samitha Hettige The Sri Lanka Army celebrated its 73rd anniversary on 10th October. Throughout the years the SLA as an organization has acted for the good of the country. Fidel Castro of Cuba blamed the one who fires the first shot for the destruction caused in a conflict. SL security analysts since 1948…
The State Minister of Investment Promotion, Hon. Dilum Amunugama meets EDB Advisory Committees Stressing the importance of providing a business conducive environment, “the government is focused and has given the highest recognition to exports and investments – to create employment, enhance foreign exchange earnings with economic and social benefits to our people”, the State Minister…
Envoy, Sri Lanka’s international brand and the premier brand of Hameedia that is synonymous with style and quality, will be expanding into the Middle East with the upcoming opening of the Envoy Dubai showroom in Festival Mall in Dubai on 22nd October 2022. This is the second international branch of Envoy which also has the…
Reuters – Sri Lanka’s government officials from the finance ministry and the central bank held its first in-person meeting with the country’s largest sovereign overseas bondholders in Washington on Thursday, three sources with direct knowledge of the meeting said. The gathering on the sideline of the International Monetary Fund and World Bank annual meetings convened…
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