The Immigrants & Emigrants (Amendment) Bill, which seeks to encourage foreign investors to extend the validity of visas to five years was considered by the Ministerial Consultative Committee on Defence Wednesday (22). Accordingly, the Committee agreed to present it to Parliament for a second reading. The Consultative Committee on Defence chaired by Hon. Chamal Rajapaksa,…
NEW YORK–(BUSINESS WIRE)–New Fortress Energy Inc. (NASDAQ: NFE) (“New Fortress”) and The Government of the Democratic Socialist Republic of Sri Lanka (“GOSL”) jointly announced (21) that they have executed a definitive agreement for New Fortress’ investment in West Coast Power Limited (“WCP”), the owner of the 310 MW Yugadanavi Power Plant based in Colombo, along…
Sri Lanka Tourism will be launching the second installment of the Couch Safari series with the live streaming of Wilpattu National Park to a global audience. The Tourism Authorities have been stratgically positioning the Island as a destination offering a multitude of immersive experiences and the introduction of the “virtual safaris’ initiative showcasing awe-inspiring National…
Sri Lanka’s merchandize exports in August 2021 recorded an increase of 14.4 % to US$ 1,083.56 Mn as compared to US$ 947.2 Mn recorded in August 2020 as per the data released by the Sri Lanka Customs. Export Development Board (EDB) Chairman, Suresh de Mel, commended the exporters and said it is remarkable to see…
The Colombo Stock Exchange (CSE) and University Canada West (UCW) successfully concluded a webinar on the theme ‘How the Financial Market evolved through the pandemic’. The webinar attracted over 60 participants and included insights from Canadian and Sri Lankan experts. The virtual event is one of the collaborative programs organized by the two organizations that…
Bloomberg – China’s central bank increased its injection of short-term cash into the financial system after concern over a debt crisis at China Evergrande Group roiled global markets. The People’s Bank of China injected 120 billion yuan ($18.6 billion) into the banking system through reverse repurchase agreements, exceeding the 30 billion yuan of maturities on…
The project will support weather forecasting, warning, and flood resilience in the Kelani river basin The Government of Sri Lanka and the World Bank signed a $92 million financing agreement for the Climate Resilience Multi-Phased Program Phase I Project. This project is expected to benefit around 11.2 million people across the country by modernizing the weather,…
EXPO 2020 DUBAI is the latest edition of World Expos held around the world since 1851 and will be the first ever to be held in the Middle East, Africa, and South Asia. Sri Lanka will participate in the mega-event which commences in October (01st October 2021 – 31st March 2022) and is expected to…
Headline inflation, as measured by the year-onyear (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100), decreased marginally to 6.7 per cent in August 2021 from 6.8 per cent in July 2021. This decline was entirely due to the statistical effect of the high base prevailed in August 2020. Meanwhile, Food inflation (Y-o-Y) increased marginally to 11.1 per cent in August…
The Central Bank of Sri Lanka (CBSL) is pleased to announce the appointment of Assistant Governor (AG) J P R Karunaratne as the Secretary to the Monetary Board (SMB) with effect from 15th September 2021. AG J P R Karunaratne holds a Master of Commerce Degree in Finance from the University of New South Wales,…
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