Sri Lanka’s tourism sector earnings were estimated at US dollars 2,806 million during the first ten months of 2019, compared to US dollars 3,538 million during the corresponding period of 2018, latest External Sector Performance report of the Central Bank of Sri Lanka outlines. Earnings from tourism were estimated at US dollars 223 million in…
The global emissions gap between government pledges and actions increases the risk of a rapid increase in the scope of climate regulation, Fitch Ratings says. Most countries lag substantially behind their existing Nationally Determined Contribution (NDC) pledges, let alone the emissions trajectories required to limit warming to 1.5C. The timings (2020 and 2023) of the…
The Food and Agriculture Organization of the United Nations (FAO) has launched a pioneering initiative – “Global Action for Fall Armyworm Control”, that aims to mobilize USD 500 million over 2020–22 to take radical, direct and coordinated measures to fight Fall Armyworm at a global level. Fall Armyworm is an invasive moth originating in the Americas. It…
For over a century, Galle Face has been Colombo’s prestigious ocean front green and the city’s ceremonial centre. Sitting majestically between the ocean, bustling metropolis and lake, this narrow, picturesque stretch of prime land is being transformed into a vibrant new cosmopolitan area. Today, with luxury property after luxury property appearing in this central zone…
Says expects beneficial impact on operating costs in public transport and carriage of goods CEAT Kelani Holdings, which manufactures nearly half of Sri Lanka’s pneumatic tyre requirements, has announced that it has already begun passing on the full benefit of the recent tax reductions to its customers. While every segment of tyre users would benefit…
‘Govt’s decision encourages local cultivators & SMEs’-COSMI’s Rajabdeen “More than half of Sri Lanka agricultural exports are spices & allied products 2018 spice exports at US $ 361 Mn Sri Lanka’s Confederation of Micro, Small and Medium Industries (COSMI) hailed the government’s December 5 decision to block the re-export of minor export crops. COSMI President…
Telenor (TEL.OL) reiterated on Sunday Huawei would be involved in building Norway’s 5G network along with Ericsson (ERICb.ST), one of several companies to continue working with the Chinese company despite U.S. pressure. Still, on Friday, the head of Telenor Norway, Petter-Boerre Furberg, told Reuters that the operator would gradually phase out the use of Huawei…
Founder of Softlogic Group, Ashok Pathirage, known conqueror in the business world, has been appointed as the new Chairman of the Sri Lankan Airlines. With a visionary outlook, Ashok Pathirage, provides strategic leadership to Softlogic holdings PLC whose turnover is nearly Rs.30 Bn. Six other entities under his Chairmanship are listed on the Colombo Stock…
According to the latest external trade data released by the Central Bank, country’s trade deficit had contracted in October 2019 (year-on-year), with the decline in expenditure on imports and a marginal decline in earnings from exports. The deficit in the trade account contracted in October 2019 to US dollars 838 million, from US dollars 903…
Advantis Bunkering, the bunker supply arm of transportation and logistics giant Hayleys Advantis Limited, has commenced offering IMO2020 grade Very Low Sulfur Fuel Oil (VLSFO) in Sri Lanka, becoming the first Sri Lankan company to offer this new grade of fuel. The first cargo parcel of VLSFO arrived in Colombo from the UAE on 9th…
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