India’s Maruti Suzuki to cut production by 60% due to chip shortage

Maruti Suzuki, India’s biggest car maker announced this week that its vehicle production will contract by 60 percent this month as the company faces challenges in sourcing chips due to a global shortage of semiconductors.

SL receives US $ 787mn from IMF; US $ 150mn from B’desh

Sri Lanka has received Special Drawing Rights (SDRs) to the equivalent of US $ 787 million from the International Monetary Fund (IMF) under the multilateral lender’s latest US $ 650 billion SDR allocation, the Central Bank said.

Live streaming of Kandy Esala Perahera reached 16K global viewers

The global live streaming of the Kandy Esala Perahera that was facilitated by Sri Lanka Tourism this year reached nearly 16,000 viewers across the globe making the online promotion effort during the pandemic a success, the Sri Lanka Tourism Development Authority (SLTDA) said.

SLT says it has nothing to do with NMRA cyber mystery

National telecommunications services provider, SLT-Mobitel has set the record straight on recent media reports claiming that the company managed the Lanka Government Cloud and provided services to the National Medicines Regulatory Authority (NMRA).

CSE creates market history with ASPI crossing 9000 points

For the first time in market history, the All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) crossed the 9000 point mark in early trade today.

CSE’s All Share Price Index hits new all-time high

The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) reached an all-time high today, hitting 8,920.71 points.

July tea production down YoY, but up from June

Tea production in July witnessed a marginal dip of 0.31 MnKgs when compared with the corresponding period the previous year. However, the July production of 26.16 MnKg is higher than the 25.93 MnKg recorded in June 2021.

SL will lose Rs. 260 mil a day by remaining on UK’s red list: WTTC

Sri Lanka’s continuing to remain on the red list of the United Kingdom (UK) will result in a revenue bleed since for every single day it stays on the disruptive and damaging travel list, the island nation would lose over Rs. 260 million, the World Travel & Tourism Council (WTTC) said.

Emirates to resume Colombo – Male route from 1 September

The flag carrier of the UAE, Emirates Airlines announced it will resume daily services between Colombo – Male starting 1 September.

Namal assures no tax on e-platforms

As a surge in online transaction volume is expected with the rise in Covid-19 cases and casualties in the country, Minister Development Co-ordination and Monitoring, and State Minister Digital Technology and Enterprise Development Namal Rajapaksa assured that no tax will be imposed on online platforms.

Lanka Sathosa and cooperatives will remain open to public

Lanka Sathosa and cooperatives will remain open throughout the country although the government is tightening travel measures to tackle the spread of Covid-19 in the country, Trade Minister Bandula Gunawardena said.

SL enters into a Rs. 61bn term facility agreement with China

Sri Lanka entered into an agreement today with China Development Bank for an Rs. 61 billion term facility

EPF Department closed due to several staff testing Covid-19 positive

The Central Bank of Sri Lanka (CBSL) announced today the closure of the Public Relations Counters of Employees’ Provident Fund (EPF) Department until further notice as several staff members have tested positive for Covid-19.

Uber offers 50,000 free rides to support SL’s govt. vaccination drive

Taxi hailing app Uber announced today it will provide 50,000 free rides for citizens travelling to vaccination centers across Colombo, Gampaha and Kalutara districts.

'Buy a Meal’ launched to support tourism & hospitality industry

Sri Lanka’s struggling tourism industry will receive some support with the launch of the ‘Buy a Meal’ initiative that will take place this month.

CB introduces single point to handle complaints against financial services providers

The Central Bank said it has introduced a single point of contact to handle complaints against financial service providers (FSPs).

EDB’s Boat Show Sri Lanka 2021 to go virtual

Sri Lanka will host its first ever virtual boat show come October with the aim of providing a single platform for all related business sectors involved directly and indirectly in the boat and ship building industry to showcase their products and services.

Facebook Marketplace now is SL

Social media networking service, Facebook, announced the launch of Facebook Marketplace in Sri Lanka, a feature that allow app uses to discover, buy and sell items from others in their local communities.

Debt-hobbled Sri Lanka risks running out of options

LONDON, Aug 3 (Reuters) - Sri Lanka paid a $1 billion bond last week, but the alarming state of its finances suggests it may have been just another step towards its first sovereign default.

July food price up 0.70%: Advocata’s ‘BCI’

Food prices in the country continued to increase in July, according to Advocata’s Bath Curry Indicator (BCI) which expanded by 0.70 percent from the previous month.

SriLankan kicks off ‘Buy One Get One Free’ Offer for Moscow

National carrier, SriLankan Airlines kicked off its special ‘Buy One Get One Free” offer by opening up the promotion to Russian holiday makers visiting the country for the summer vacation.

Western Province to receive face-lift

The Western Province is slated to receive a face-lift with plans afoot to embark on an urban beautification programme that will start from Kelaniya.

Flights carrying vaccinated passengers allowed operating in full capacity

The Civil Aviation Authority of Sri Lanka (CAA) yesterday gave clearance for incoming flights to operate in full capacity provided the passengers are fully vaccinated and are arriving via a bio bubble.

EDB and TVEC formulate training plan for electrical and electronics industry

The Sri Lanka Export Development Board (EDB) announced today the formulation of a Vocational Education Training Plan (VET Plan) for the Electrical and Electronics sector (EEC sector) to pave the way for further development in the country’s electrical and electronics industry.

Devaka Cooray appointed United Motors Chairman

United Motors Lanka PLC (UML) has appointed Independent Non-Executive Director Devaka Cooray as the Chairman of the Company with effect from 27 July.

Tourism sector employees have reached breaking point: THASL

Tourism sector employees have reached their breaking point after grappling with the hardships stemming from the pandemic and the Easter Sunday attack, thus it is imperative for the government to look into their grievances without any further delay, the Hotels Association of Sri Lanka (THASL) said.

Moody’s places SL’s Caa1 rating for downgrade

Moody’s Investors Service (Moody’s) has today placed the Government of Sri Lanka’s Caa1 foreign currency long-term issuer and senior unsecured debt ratings under review for downgrade.

ETF announces grant for members’ children

The Employee Trust Fund Board (ETFB) has announced its decision to grant financial assistance for the children of ETF members who have passed the GCE Advanced Level (A/L) 2020 examinations.

No day-7 PCR for fully vaccinated tourists

Sri Lanka is continuing to explore avenues to make the destination increasingly easier for tourists, and the latest is to allow vaccinated travelers who have not travelled from restricted countries, to forgo the second PCR test after arrival.

SriLankan to roll out ‘buy-one-get-one-free’ offer

National carrier SriLankan Airlines is gearing up to launch a fresh promotion this summer where together with the tourism industry it will soon unveil a ‘buy-one-get-one-free’ offer.