Excess of primary account balance after 40 years. A high growth in the arrival of foreign tourists. An increase in the amount of money sent by Sri Lankans abroad – Mr. Ranjith Siambalapitiya, Acting Minister of Finance. Acting Finance Minister Ranjith Siyambalapitiya stated that the inflation in Sri Lanka has decreased by 62.1% in the…
LOLC Holdings PLC discloses that its sub-subsidiary LOLC Mauritius Holdings Limited, has acquired 90% of the ordinary voting shares of Unguka Bank PLC, in Rwanda, on 14th September 2023. LOLC Holdings plc bought 46,612,489 shares of Unguka Bank PLC at 114.43 Rwandan franc per share. Accordingly, the total amount invested for the acquisition of these…
The DCTS mirrors rules of origin restrictions that existed under the EU GSP + concessions The scheme offers extended cumulation which is an opportunity for Sri Lanka to increase utilisation of the scheme and help boost exports to the UK Exceptional circumstances need extraordinary solutions that help navigate unprecedented challenges. The macroeconomic crisis that Sri…
The high-speed passenger ferry to Kankesanthurai in Sri Lanka can accommodate 150 passengers; it will open up the scope for promoting tourism in Tamil Nadu, says E.V. Velu The Hindu – The high-speed passenger ferry service between Nagapattinam in Tamil Nadu and Kankesanthurai in the Northern Province of Sri Lanka is likely to commence in…
A meeting was convened at the Presidential Secretariat to discuss the Arugam Bay Tourism Development Plan, which has the potential to significantly contribute to Sri Lanka’s tourism industry. Mr. Sagala Ratnayaka, Senior Advisor to the President on National Security and Chief of the Presidential Staff, chaired the meeting. During the discussion, the issues identified in…
JAT Holdings proudly introduces Volt Charge (VC), an ambitious joint venture that signifies a remarkable collaboration between Sri Lanka and Saudi Arabia, poised to revolutionize the global Electric Vehicle (EV) charging landscape. In partnership with Saudi-based Safari Group, QSS Robotics, and Sri Lankan tech trailblazer Cyrus, Volt Charge is on a mission to set new…
Discussions Focus on Financial Reforms and Debt Restructuring. In a crucial meeting held during the United Nations General Assembly (UNGA) in New York, Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva, met with President, Ranil Wickremesinghe, to discuss vital economic matters. During the meeting, Ms. Georgieva and President Wickremesinghe delved into…
President Highlights Middle-Income Country Challenges. In a significant address at the High-level Dialogue on Financing for Development – General Assembly, 78th session, President Ranil Wickremesinghe emphasized the critical issues facing middle-income countries in times of financial distress. He drew attention to the challenges these countries face due to the lack of a common framework…
The Chairman of the Federation of Information Technology Sri Lanka (FITIS), Mr. Indika De Soysa, has projected a substantial boost of 15 billion US dollars to Sri Lanka’s gross domestic product (GDP) through the expansion of the digital economy, by the year 2030. Presently, the digital economy contributes 3.7 billion US dollars to the GDP….
Amid Pandemic Fallout and Resource Scarcity, President Questions Feasibility of Achieving SDG’s. Addressing the SDG Summit 2023, President Ranil Wickremesinghe delivered a stark assessment of the global progress towards achieving the Sustainable Development Goals. He emphasized that the current state of SDG advancement is globally unsatisfactory, with only 12% of the targets on track while…
Video Story
