World Food Program USA and Lions Clubs International Foundation (LCIF) are pleased to announce a $4 million partnership in support of the United Nations World Food Programme’s homegrown school meals program in four countries. With each organization contributing $2 million to this joint effort, the grant will be a global collaboration, bringing together an international coalition of individuals committed to solving…
Purchasing Managers’ Indices indicate expansions in Manufacturing and Services activities in March 2024. Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 62.5 in March 2024, indicating an expansion in manufacturing activities. This marks the highest PMI-Manufacturing that was recorded in three years. All the sub-indices expanded on a month-on-month basis contributing to this increase,…
Reuters – Asian shares fell and gold prices rose on Monday as risk sentiment took a hit after Iran’s retaliatory attack on Israel stoked fears of a wider regional conflict and kept traders on edge. The dollar scaled a fresh 34-year high against the yen on growing expectations that sticky inflationary pressures in the United…
A narrow airstrip that doesn’t even have an air traffic controller to guide incoming airplanes and whose only infrastructure is a portable toilet and a make-shift office in a container in the midst of miles of barren land bordering Pakistan is an unlikely gateway to the world’s largest renewable energy park. The airstrip was even…
The United Nations has recently applauded Sri Lanka’s efforts to restore and expand the island’s mangrove cover by over 50 percent. The country has been selected as one of the seven UN World Restoration Flagships for its pioneering efforts in mangrove restoration. Senior Advisor to the President on Climate Change, Ruwan Wijewardene, is actively preparing…
The Sri Lanka Pakistan Business Council of The Ceylon Chamber of Commerce, recently paid a courtesy call on the newly appointed High Commissioner of Pakistan in Sri Lanka, His Excellency Major General (R) Faheem Ul Aziz, HI (M). During the visit, both parties expressed their intention to collaborate closely for the future development of economic,…
Reuters – Debt-for-nature swaps, where poorer countries have debt written off in return for protecting ecosystems such as barrier reefs or rainforests, could provide $100 billion for the fight against climate change, a new report has calculated. The UK-based, non-profit International Institute for Environment and Development (IIED) based the estimate on the possibility of debt…
The Executive Board of the International Monetary Fund (IMF) Friday selected Kristalina Georgieva to serve as IMF Managing Director for a second five-year term starting on October 1, 2024. The Board’s decision was taken by consensus. In line with the selection process it had established on March 13, 2024, the Board held several discussions, including…
Developing economies in Asia and the Pacific are forecast to expand by 4.9% on average this year as the region continues its resilient growth amid robust domestic demand, improving semiconductor exports, and recovering tourism. Growth will continue at the same rate next year, according to the Asian Development Outlook (ADO) April 2024, released today by the Asian…
The Asian Development Bank’s (ADB) annual flagship economic publication, the Asian Development Outlook (ADO) April 2024, forecasts Sri Lanka’s economy to record moderate growth of 1.9% in 2024 and 2.5% in 2025 following 2 consecutive years of contractions. Sri Lanka is showing signs of recovery, with green shoots emerging in the second half of 2023. Inflation…
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