ADB approves USD 100 million for Sri Lanka’s water sector reforms

The Water Supply and Estate Infrastructure Development Ministry welcomed the approval of a USD 100 million policy-based loan from the Asian Development Bank (ADB) to support transformative reforms in Sri Lanka’s water supply and sanitation sector.

People’s Bank sets record straight on IT system upgrade

The People’s Bank issued a statement to address and clarify a recent allegation insinuating that an improper transaction is taking place pertaining to an IT system upgrade at People’s Bank.

Cess on imported cement reduced by Rs. 1

The government has reduced the cess on imported cement, the Ministry of Finance said.

ICFS to host ’Education Yaalpanam’ for students seeking overseas opportunities

The International Centre for Foreign Studies (ICFS) will host the fourth session of ’Education Yaalpanam’ on September 7 at the Vavuniya Public Library and on September 8 at the Jaffna Public Library Auditorium.

BOI convenes roundtable with global health firm to discuss Indian FDI opportunities

The Board of Investment (BOI) recently convened a roundtable with Global Health Strategies (GHS), a leading consulting firm specializing in global health and development to explore foreign direct investment opportunities with Indian investors.

TikTok shares election integrity measures ahead of presidential election

TikTok today shared its approach to upholding and protecting election integrity on its platform ahead of the Sri Lankan Presidential Election on 21st September 2024. The initiative underscores TikTok’s commitment to being a responsible and reliable source of information, especially during critical civic events.

July trade deficit up over higher imports, but exports remain robust

Merchandise trade deficit, what Sri Lanka spent for its imports over its exports, expanded in July and so was for the cumulative seven months as imports gained pace with the economy normalising.

Colombo district land prices increase 6.9% YoY

The Land Valuation Indicator (LVI) for Colombo District rose 6.9 percent year-on-year in the first half of 2024, driven by increases across all sub-indicators — Residential, Commercial, and Industrial.

CBSL to host webinar on inflation and exchange rate dynamics in Asia-Pacific

The Central Bank of Sri Lanka (CBSL) is preparing to host a webinar on the dynamics of inflation and exchange rates in the Asia-Pacific region on Friday, September 6, 2024.

Government clarifies misleading reports on Hilton hotel divestiture

The Ministry of Finance, Economic Stabilization and National Policies has issued a statement clarifying recent misleading media reports about the divestiture of Hotel Developers (Lanka) Ltd, which owns the Colombo Hilton.

People’s Bank adopts a 1990 Suwa Seriya Ambulance

The People’s Bank of Sri Lanka has adopted an ambulance to support the 1990 Suwa Seriya Foundation’s ‘Adopt an Ambulance’ project.

Jayewardenepura University invites papers for international real estate conference 2024

The University of Jayewardenepura has called for research papers on various topics for its 8th International Conference for Real Estate Management and Valuation (ICRMV 2024), organized by the university’s Center for Real Estate Studies.

United Petroleum targets 350-400mn litres of fuel sales in SL

Australia’s United Petroleum, the latest entry into Sri Lanka’s retail fuel market, targets to supply the Sri Lankan market with 350-400 million litres.

Korean media group highlights SL for reality show

The Sri Lanka Tourism Promotion Bureau (SLTPB), in partnership with the Sri Lankan Embassy in Seoul, welcomed an eight-member team from South Korea’s JTBC Media Group.

Times Education partners with Thai University in Industrial Tech

The College of Industrial Technology at KMUTNB and Times School of Higher Education sign MoU on academic cooperation, research, and student exchange.

Tourism on a tear as July income at US$ 328mn

Sri Lanka has earned a robust income of US$ 328.3 million from the tourism trade in July at a level nearly equal to what the country gets from the International Monetary Fund (IMF) for six months for raising taxes of its people and corporations and perhaps on their properties and capital gains,

Water tariffs revision announced

A special gazette announcement was issued announcing the reduced water tariffs, effective from last night (August 21).

Australia’s United Petroleum in operation from August 28

Australia’s United Petroleum Pvt. Ltd. is scheduled to commence their operations in Sri Lanka from August 28 under United Petroleum Lanka.

CBSL Governor receives A Grade in Global Finance report

Sri Lanka’s Central Bank Governor Dr. Nandalal Weerasinghe has been awarded an ’’A’’ grade in the Global Finance’s 2024 Central Banker Report Cards, an international recognition that honors central bank leaders whose exceptional strategy and leadership has outperformed their global peers.

CSE and South Eastern University exchange MoU to improve financial literacy of undergraduates

The Colombo Stock Exchange (CSE) and the South Eastern University of Sri Lanka (SEUSL) formalized a collaboration through a Memorandum of Understanding (MoU) last week to improve the financial literacy of the undergraduates studying at the university.

ICFS offers spot admission session for UK universities

The ICFS Education is hosting a University Spot Admission Session on August 17, where Sri Lankan students will have the opportunity to receive offer letters from York St John University and De Montfort University on the spot.

Jetstar Asia announces low-fare flights to Colombo

Jetstar Asia announced today that it will become the only low-cost carrier to fly directly from Singapore to Colombo, Sri Lanka, with the new service starting on November 21, 2024.

SLTPB concludes major influencer campaign to promote SL for winter season

The Sri Lanka Tourism Promotion Bureau (SLTPB) recently concluded a major influencer campaign in partnership with travel influencers representing key source markets, aiming to promote Sri Lanka as a top holiday destination for the upcoming winter season.

ICFS to host education exhibition for overseas study

An Education Exhibition, offering students a unique chance to explore overseas study options with universities from the UK, Australia, New Zealand, USA, Canada, Germany, Finland, Malaysia, and Singapore, is scheduled to take place on August 17, the International Centre for Foreign Studies (ICFS) said.

Colombo inflation rises to 2.4% in July as base effects wane

Inflation in the Colombo district came in at 2.4 percent in July from a year ago, slightly higher from June’s 1.7 percent, as the favourable base effects are dissipating.

India doubles plantation sector education fund to Rs. 600 million

India has agreed to double its grant for a project aimed at upgrading educational infrastructure in schools within the plantation sector.

BOI joins global pledge to boost gender equity in Foreign Direct Investments

The Board of Investment (BOI) Sri Lanka recently joined a global pledge initiated by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the Foreign Direct Investment (FDI) Center to promote gender equity among FDI-mandated organizations in the country.

Decision to relax vehicle imports by August

The government will announce its stance on relaxing the import of vehicles by August, Finance State Minister Shehan Semasinghe said.

IMF to review SL’s economic progress next week

A delegation from the International Monetary Fund (IMF) is scheduled to visit Sri Lanka next week to assess the country’s economic progress.

Global economy in sticky spot: IMF

The International Monetary Fund (IMF) projects global growth to be in line with the April 2024 World Economic Outlook (WEO) forecast, at 3.2 percent in 2024 and 3.3 percent in 2025.