Russia key buyer of Sri Lanka tea exports; top tourism source Inflation is Asia’s fastest; 2030 dollar bond drops to record Bloomberg – With Covid shutting off tourism from much of the West, Russia and Ukraine had become an increasingly important source of foreign currency for Sri Lanka. The conflict threatens to turn off that…
By Asanka Wijesinghe The Russian invasion of Ukraine deepens the existing global economic woes – persistent supply chain bottlenecks and associated rising inflation – clouding the prospects of a smooth global economic recovery from the pandemic. The West, led by the US and the EU, swiftly imposed strict economic sanctions, targetting Russian banks, oligarchs, political…
We’re expanding Facebook Protect, our security program for groups of people that are more likely to be targeted by malicious hackers, such as human rights defenders, journalists, and government officials. No action is required unless you’re prompted to enroll. We’re also making it easier for these groups of people to set up two-factor authentication. As…
Many of Sri Lanka’s Regional Plantation Companies (RPCs) are breaking away from legacy practices of the sector by redefining themselves through innovation. In this week’s, ‘RPC Innovation Series,’ we explore the question: ‘can Pure Ceylon Tea help drive the fight against climate change?’ Having developed innovative, home-grown solutions and leveraged and adapted global best practices…
International Mudaliar and Pillaimar Association (IMPA) is a non-profit, non-political organization based in Southern India which consists of more than 25000 members worldwide. IMPA constitutes of reputed business owners with a South Indian origin and is highly involved in development of economy, education, health and agriculture in rural communities in Southern India. Deputy High Commissioner…
H.E. Eric Lavertu, Ambassador of France and Mr. Jean Alexandre EGEA, Economic Counsellor of the French Embassy in Sri Lanka met with Eng. Raja Edirisuriya, Chairman, BOI and Mrs. Renuka Weerakone, Director General, BOI on 22nd February 2022 at the BOI. Ms. Nilupul De Silva, Director (Investment Promotion), BOI also participated in the discussion. The…
Net interest income up 30.56% to Rs 66.416 billion Bank’s CASA ratio strengthens further to 47.83%, an industry benchmark Bank’s Cost to Income Ratio (excluding VAT on Financial Services) improves to 31.61% from 33.95% at end 2020 and 38.51% at end 2019 Total taxes increased to Rs 14.512 billion Impairment charges increased by 17.37% to…
Regional fuel prices are at a significant higher rate than Sri Lanka As Sri Lanka pitches into darkness and its people form lines at fuel stations due to the ongoing energy crisis, its largest import bill, petrol and diesel, had cost an alarming USD 3.7Bn between January to December 2021 which is 18% of the…
The Delegation of the European Union (EU) issues the following statement in agreement with the Embassies of France, Germany, Italy, Netherlands and Romania. The European Union condemns in the strongest possible terms the unprovoked invasion of Ukraine by armed forces of the Russian Federation. Russia’s recent actions with regard to Ukraine have been a blatant…
Mintpay wins Venture Engine in 2022, with Tutopiya and Hyperglade awarded 1st Runner-up and 2nd Runner-up, respectively Impact Award went to Quick Help, while Tutopiya Founder Nuha Ghouse receives first ever Trailblazer Award Rs. 7 million in prize money and grants awarded for tenth anniversary Potential investors from 11 foreign funds joined Finale via zoom…
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