Budget 2020 a ‘stop-gap’ budget: IPS chief

Economic policy think-tank, the Institute of Policy Studies (IPS) yesterday called Budget 2022 a “stop-gap” budget rather than one that would set the framework for revenue mobilization, which is imperative given the current juncture the national economy stands at.

Over 200 farmers receive assistance from EDB to obtain intl. organic certification

A total of five farmer groups consisting of 254 farmers has been able to obtain organic certification from internationally accredited certification bodies and are able to have improved access to international markets following the implementation of the organic certification assistance scheme implemented by the Export Development Board (EDB).

Govt. says fight with unjust traders yet to end

As the livelihood of the masses have been impacted due to fraudulent business activities of individuals and institutions seeking illicit profits, the government yesterday said its “fight against those unjust traders has not come to an end”.

Sri Lanka targets to reduce budget deficit to 8.8% in 2022

Sri Lanka expects to reduce its budget deficit to 8.8 percent of the Gross Domestic Product (GDP) in 2022, down from the 11.1 percent deficit estimated for 2021.

Public sector employees to remain in service longer

Employees attached to the public sector will be allowed to serve for longer periods with the retirement age proposed to be increased to 65 years.

Govt. to roll out efforts to boost agri-entrepreneurship

Efforts will be taken by the government to uplift the agriculture sector so that more agri-businesses will be established in the country.

WSO2 Secures US $90mn in Growth Capital from Goldman Sachs

Open-source technology provider WSO2, today announced that the company has closed $90 million in financing from client vehicles advised by Goldman Sachs Asset Management Private Credit. The flexible capital solution will be used to accelerate WSO2’s worldwide business expansion, drive growth of the company’s global partner network, and support rollout of its next-generation, cloud-native solutions for securely delivering APIs, applications, a

Ambani-owned Reliance Industries acquires amanté from MAS Holdings

Sri Lanka’s MAS Holdings today said one of its subsidiaries, MAS Brands, which owns and operates the retail lingerie business under the brand amanté, was acquired by Reliance Retail Ventures Limited, a subsidiary of India’s Ambani-owned Reliance Industries.

Korea to resume entry of new migrant workers from SL

Sri Lankan migrant workers will soon be able to enter Korea and its government announced today its decision to resume the entry of new Sri Lankan workers and workers from other foreign countries.

Holistic, multi-pronged approach must for inclusive delivery of education services: CBSL

The local education sector is still in dire need of a holistic and multi-pronged approach to the inclusive delivery of education services amid the “unique” circumstances, the Central Bank of Sri Lanka (CBSL) said.

Holistic, multi-pronged approach must for inclusive delivery of education services: CBSL

The local education sector is still in dire need of a holistic and multi-pronged approach to the inclusive delivery of education services amid the “unique” circumstances, the Central Bank of Sri Lanka (CBSL) said.

Net Zero Roadmap unveiled by WTTC for global tourism sector

The World Travel and Tourism Council (WTTC) announced this week the launch of an ambitious and groundbreaking net-zero roadmap to guide the global tourism sector.

Sri Lanka food and agri sector takes part in China Intl. Expo

Sri Lanka’s food and agriculture sector is currently being featured at the 4th China International Expo (CIIE), providing opportunities for local businesses to identify the right distribution channels.

ILO, CCC launch fresh entrepreneurship programme to uplift SL youth

The International Labour Organisation (IL0) and the Ceylon Chamber of Commerce (CCC) have entered into a partnership to push local youth to explore entrepreneurship opportunities.

China not part of Asia’s tourism recovery agenda

Writ application against CB Governor dismissed

The Writ application filed against the appointment of Central Bank of Sri Lanka (CBSL) Governor Ajith Nivard Cabraal has been dismissed by the Court of Appeal.

Lesser popular places under spotlight with ongoing influencer programme by SLTDA

In an effort to promote Sri Lanka as a safe tourism destination to international travelers, Sri Lanka Tourism has kicked on its International Media & Influencer Facilitation Programme to highlight the country’s lesser-known experiences.

Sri Lanka to promote capital market in Dubai

Sri Lanka will showcase its investment opportunities to the world come November by hosting the ‘Invest Sri Lanka’ Investor Forum in Dubai, UAE.

SriLankan commences Colombo-Paris flights after 6 years

National carrier SriLankan Airlines today resumed flights to the French capital Paris after a lapse of six years.

EDB slightly adjusts 2021 export target

The Export Development Board (EDB) has announced a revision to the export target for 2021 to US $ 15.72 billion from the US $ 15.68 set earlier this year.

Moody’s further downgrades Sri Lanka to Caa2

Moody’s Investors Servicehas today downgraded the Government of Sri Lanka’s long-term foreign currency issuer and senior unsecured debt ratings to Caa2 from Caa1 under review for downgrade, concluding a review for downgrade initiated on July 19, 2021.

Sri Lanka Tourism website gets fresh look and feel

In an effort to lure global visitors as the Cocid-19 pandemic eases with the ongoing vaccination drive, Sri Lanka Tourism unveiled today the new look and feel of its website.

‘Launch to Germany’ takes local startups to global markets

Local startups were provided with a platform to enter Germany with the facilitation of a virtual soft landing competition, ‘Launch to Germany’, that was held recently.

Kelly Felder becomes first major local brand to accept cryptocurrency

Fashion brand Kelly Felder today announced its move to accept cryptocurrency via leading blockchain payment provider BitPay.

Nautical tourism under fresh focus with Boat Show 2021 launch

Sri Lanka’s nautical tourism comes under fresh focus today with the launch of the first-ever virtual boat show in the country.

CBSL engages in “fruitful” discussion with QCB

Central Bank of Sri Lanka (CBSL) and the Qatar Central Bank (QCB) today engaged in discussion to look at firming up ties between the financial industries of the two countries.

Viet Nam expresses interest in deepening ties with SL

Viet Nam has expressed keen interest in enhancing bilateral ties with Sri Lanka, and its Ambassador to Sri Lanka Ho Thi Thanh Truc has highlighted to Prime Minister Mahinda Rajapaksa there are many avenues that remain untapped by both nations.

Sri Lanka Pavilion at Expo 2020 Dubai a success: SLTDA

The Expo 2020 Dubai has been a success for Sri Lanka so far, the Sri Lanka Tourism Development Authority (SLTDA) said as the award-winning pavilion has been effective in attracting nearly 10,000 visitors in the last 20 days.

Monetary policy rates of CBSL remains unchanged

The Central Bank of Sri Lanka (CBSL) announced today that it will continue to maintain policy rates at the current levels.

SL among Conde Nast’s best countries to travel in 2021

Sri Lanka has been voted as one of ‘The Best Countries to Travel to’ by the Conde Nast 2021 Readers’ Choice Awards.