A $160 million loan has been approved by the Asian Development Bank (ADB) to modernize activities and enhance the effectiveness of Sri Lanka Railways, the railway operator of the country, by upgrading its infrastructure and technical ability. This is the first loan from ADB in the rail industry in Sri Lanka.
Yesterday, at the 27th Annual General Meeting of the American Chamber of Commerce in Sri Lanka, U.S. Ambassador for Sri Lanka and Maldives Alaina B. Teplitz said that the U.S. is supporting Sri Lanka for the quick recovery of its tourism industry from the Easter attacks.
Electronic methods of payment (e-payment), such as real-time interbank fund transfers from client present and savings accounts as well as card payment services, have given clients with excellent comfort. Payment systems and infrastructure in Sri Lanka fulfill international security requirements to guarantee client funds are safe. Customers must adhere to appropriate security measures when making e-payments in order to enjoy these facilities continually.
The Chartered Financial Analyst (CFA) Institute articulated its dedication and capacity to have a positive effect on Sri Lanka in supporting the ambitious capital market growth plans of the country.
Diversified conglomerate Sunshine Holdings PLC (CSE: SUN) has announced that SBI Ven Holdings (Pte) Limited, SBI Holdings Inc.'s foreign private equity firm, has invested USD 2 million in Sunshine Energy (Pvt) Ltd (SEL) to further propel renewable energy production initiatives by Sunshine Holdings.
One of the leading rivals in the recent Biz Quiz competition, the Glitz-sponsored Sri Lankan corporate contest, was DirectFN Quiz Team. The team won the title of the winner of the category IT / Software. In the general contest, DirectFN also ranked 4th.
In a recent annual sales meeting held by Keells Food Products (KFP) at Cimmamon's Hikka Tranz, the Icelandic Sales Team recognized and recognized its most excellent sales leaders ' commitment and accomplishments in the financial year ending on 31 March, at which 27 of the world's most prominent sales leaders were recognized.
Not only will an LLB (Hons) degree open numerous career paths to the students, but it also expands their perspectives on many social issues and enables them to collect understanding through studies and analysis separately.
A press conference was held in the Hotel Shangri-La with the introduction of the free visa for the 46 countries with effect from August 1st and was held in Shangri-La by the ministers of Chrétien Affairs, Wildlife, and Tourism.
Aitken Spence Hotels has spent Rs 7 million to establish a well-equipped women's lodging facility in Heritance Kandalama in the creation and promotion of a job setting as an equal opportunity employer.
The palm oil business is in a serious crisis in Sri Lanka as a result of an informal planting ban, Rs. 500 million of crops are lost in nurseries.
If the directors of CEB come to the salvage of the CEB with an enhanced credit ceiling of up to thumping Rs.100 billion for the supplies of fuel to the board of thermal plants, consumers of electricity, industry as well as citizens, facing the expectation of an erratic electricity supply from a cash-strapped Ceylon Electricity Board may receive some replacement.
The president of the Association of Financial Markets ACI, Bruno Langfritz, who was a forerunner for the World Congress in Colombo in October in Sri Lanka, feels comfortable about the present safety policies on the island.
The mid-year tax position report for 2019, which the Ministry of Finance presented to Parliament yesterday, estimates a loss to the income of Rs 50 billion in the nation resulting from the Easter Sunday terrorist attack.
Japan offers the Human Resource Development Scholarship (JDS) project with Rs.429 million grant assistance »
The Government of Japan has given the Human Resource Development Scholarship (JDS) project with a grant worth approximately Rs.429 million to
For financial operations such as agriculture, production, and the energy, water, and energy industries the PPI (Producer Price Index) of all reports is 153.4, 131.5 and 88.1. According to the Ministry of Census and Statistics, the PPI growth rate for May is 2.4% annually. The PPI growth rates for May are 2.4%.
In view of strong employment growth in the US, the Fed will probably lower interest rates than expected by financial markets in the rest of 2019, says Fitch Ratings. A 25bp reduction now appears likely either at the July or September FOMC, but unlike current prices on future Fed funds markets, the start of a set of interest rate cuts is unlikely.
Board of Airline Representants (BARs), Sri Lanka Airline Representatives Association (SLAAR) and Sri Lankan Airline Country Managers welcomed the government moving for six months to decrease land handling, aviation fuel, and boarding levies.
Minister for Tourism John Amaratunga requested on 11 June to hold a conference with the governor of the Central Bank and with the CEOs of public and private banks and insurance companies.
On Monday, together with Sri Lanka's Prime Minister's Office, Tourism Ministry and the Sri Lankan Civil air agency, the Sri Lanka Tourism Authority presented a cabinet document and obtained 6 months of ground handling, air fuel, and boarding fees approvals.
D.C. R Olga, the Director General for Treasury Operations and the Department of Remarks of Sri Lanka Accountancy, took over the task. A. As the Director General of the Department of Finance, Rathnayaka has taken over the duties of Sri Lanka Accountancy Service.
The Omega Jokasou septic tank has been acquired a significant market share for three years since the launch in Sri Lanka, which is the continuous answer to issues associated with the toilets and drainage such as overloading, excessive use of the toilet pit, damaging and erosion, poor smell, and toxic gas emission.
Atlas Axillia is celebrating its 60th anniversary with a range of projects aimed at enhancing children's lives across the nation. The firm intends a bursary and fresh innovative warehouse products to be launched. Viraj Jayasooriya, Chief Operating Officer of Atlas, says his firm has invested strongly in its business and can generate a high-quality product at a good cost.
Health Ministry spokesperson said that the tax on high-sweetened beverages will be reimposed to safeguard Sri Lankans from non-communicable diseases such as diabetes, cancer, kidney disease, cardiac illnesses, hypertension and so on. Speaking at the Finance Minutes next Friday morning, the spokesperson said that the final choice is to impose a heavily sweetened drink during the debate.
Sri Lanka has revised the World Bank's gross national income (GNI) classification limits announced on Monday (July 1) to the "upper-middle income" category from the "lower-medium income. "The per capita GNI of Sri Lanka has risen from 3.840 USD in 2017 to 4.060 USD in 2018 according to World Bank information. The fresh categories define the higher-medium revenue markets between USD 3,996 and USD 12,375 for GNI per person.
The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) recently organized a regional investor forum in Jaffna with the aim of creating awareness on stock market investments.
Cabinet approval had been granted for the program to provide tab computers to G.C.E.Advanced Level students on condition that it is first implemented as a pilot project in national schools only, President Maithripala Sirisena had stated according to a press release by the President’s Media Division.
Sri Lanka’s external sector moderated in the first four months of 2019 mainly due to the lessening of the trade deficit, a marginal increase in earnings from tourism, the decline in workers’ remittances and weaker financial flows. The exports increased by 4.5 percent to US$ 3,954 million in the first four months of 2019 while imports contracted by 17.4 percent to US$ 6,412 million which has resulted in narrowing the trade deficit to US$ 2,458 million in the first four months of 2019, compared to US$ 3,981 million in the same period of 2018.
Asian Development Bank (ADB) President Takehiko Nakao submitted a report to Japanese Prime Minister Shinzo Abe on an ADB project in Sri Lanka funded by the Women Entrepreneurs Finance Initiative (We-Fi) at the Osaka G20 Summit on June 29.
Airtel Lanka has introduced a new product offering unlimited voice calls in a move that is set to revolutionize the telecom industry.
Associated Motorways (Private) Limited (AMW), the pioneer and frontrunner in the automotive sector in Sri Lanka, ceremoniously launched the Brand New Suzuki BALENO CROSSOVER on June 24, 2018,
Demonstrating the rising use of digitally-backed products and services in the financial services space, Mobitel and LOLC Finance PLC
ICRA Lanka Limited, a subsidiary of ICRA Limited, a Moody's Investors Service group company,
Powerloom Council for Development and Export Promotions (PDEXCIL), established by the Textiles Ministry, Govt. The ' India International Textiles Expo ' (IIT Expo Colombo 2019) is organizing a cum buyer meeting in India from 29 to 31 July at Hotel Galadari, Colombo.
Minister of Health, Nutrition and Indigenous Medicine Dr. Rajitha Senaratne congratulated over 4,000 volunteer blood donors who turned up instantly to donate blood following the sequence of suicide bomb attacks on Easter Sunday, a spokesperson for the Health Ministry said.
The government has set particular goals for state-owned enterprises (SOEs) to be accomplished by 2020-2021 through the Corporate Intent Statement (SCIs).
Sundara (Pvt) Ltd from the USA, inked an agreement with Board of Investment (BOI) to build “The Plantation Koggala” a luxury hotel project in Koggala on Friday.
The Sri Lanka Ports Authority (SLPA) after observing recent reports in the press about the envisaged Memorandum of Cooperation (MoC)
The Executive Board of the International Monetary Fund (IMF) has approved US $ 164.1 million disbursements for Sri Lanka, completing the fifth review of the Extended Fund Facility (EFF) arrangement Sri Lanka has with the multilateral lender.
Sri Lanka's Cabinet of Ministers has given the nod for the government to purchase 325 luxury buses form Lanka Ashok Leyland at a cost of over Rs. 3.6 billion to provide a more comfortable and quality and secure transportation service to the public.
The Cabinet has approved the Education Ministry proposal to provide free tablet computers for all Advanced Level students.
Latest Cabinet decisions on a project to provide computer facilities in schools to develop the learning and teaching process in the school education system were proposed according to a budget proposal.
The Chinese government has granted a micro interest loan of Rs. 13 billion to Sri Lanka to upgrade 13 hospitals, while Germany, Austria, France, and the Netherlands have granted Rs. 37,600 million to develop four hospitals, a Health Ministry spokesman said yesterday.
In order to add new plants, infrastructure, and value-added products, the National Livestock Development Board (NLDB) is to invest over Rs. 400 million this year.
China and Sri Lanka today signed a US$ 989 million concessional loan agreement for the Central Expressway Project's first phase.
A proposal in order to implement a programme aimed at using electricity sparingly in private and public sector institutions until the
Ceylinco Insurance PLC, the holding company of Insurance giants Ceylinco General Insurance and Ceylinco Life Insurance, recorded a massive, consolidated after-tax profit of Rs. 8.7 billion for the year ended December 31, 2018,
Compiled by the Central Bank of Sri Lanka, the Land Price Index (LPI) for the Colombo District, reached 125.9 the second half of 2018, recording an increase of 18% compared to the second half of 2017
The Loan Agreement for establishing the Light Rail Transit system from Malabe to Fort was signed between GoSL and JICA on today - March 11, 2019.
National Quality Infrastructure (NQI) Strategy was launched in July 2018, under the National Export Strategy of Prime Minister Ranil Wickremesinghe.
Presently, four latest projects have been signed up by The Board of Investment of Sri Lanka. The Director General of the Board of Investment of Sri Lanka Champika Malalgoda represented BOI whilst, the other company representatives signed the contract.
Footwear and Leather Product exports have risen by 300 percent in the 10 year period of 2008
Sri Lanka will obtain US$ 200 million from the International Bank for Reconstruction
India and Sri Lanka recently signed a MoU to develop modern infrastructural facilities to the Swami Vipulananda Institute of Aesthetic Studies, Eastern University in the Batticaloa.