IMF slashes SL’s economic growth forecast to 4%

The International Monetary Fund (IMF) has slashed Sri Lanka’s economic growth rate forecast for this year 4 percent from 5.3 percent it forecasted in October, 2020.

Rupee hits new record low against dollar

The Sri Lanka rupee slumped further to a new low today against the US dollar with the selling rate plunging to Rs. 203.50 per dollar. The previous lowest was Rs. 202.88, which was recorded yesterday, April 7.

Govt. seeks persons with int’l reputation for Port City Commission

Following the enactment of Colombo Port City Economic Commission Bill, which is expected before end of this month, the government expects to advertise internationally to select members for the high-powered seven-member Economic Commission, a top government official said.

Rupee slumps further against the US dollar

The Sri Lanka rupee slumped further to a new low today against the US dollar with the selling rate plunging to Rs.202.88 per dollar. The previous lowest was Rs.202.70, which was recorded yesterday, April 6.

SL gets own localised food price tracker - ’Bath Curry Indicator’

Sri Lanka today saw the launch of its own localised food tracker ‘Bath Curry Indicator’ (BCI), a spin on the popular ‘Big Mac Index’ conceptualised by The Economist in 1986.

High-speed internet key to uplift rural economy: Prez

High-speed internet for rural areas must be prioritized to ensure the establishment and advancement of industries across the country, President Gotabaya Rajapaksa said a short while ago

Malaysia irked by Sri Lanka’s palm oil import ban

Malaysia, one of the two key sources from where Sri Lanka imports palm oil, appears to have been visibly irked by President Gotabaya Rajapaksa’s move to ban palm oil imports.

Import restrictions on ceramic imports to be relaxed soon

The government intends remove the current import restrictions on tile and sanitary ware soon and Sri Lanka will locally produce 80 percent of its tile requirement by 2022, State Minister of Finance, Money, Capital Markets and State Enterprise reforms Ajith Nivard Cabraal told Parliament this week.

Rupee hits fresh low; selling rate at Rs.202.70 per dollar

Sri Lanka rupee hit a new low today against the US dollar as the selling rate plunged to Rs.202.70 per dollar. The previous lowest was Rs.202.10, which was recorded on April 1.

Customs, banks instructed not to facilitate palm oil imports

The Imports and Exports Control Department has issued a directive to all commercial banks and Sri Lanka Customs to not to facilitate the processes of palm oil importation with immediate effect.

Unlimited internet facility to be launched next week: TRCSL

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) today announced that service providers are gearing up to unveil their unlimited internet packages by next week.

Discussions ongoing with investors to set up vehicle assembly plants

Several investments to set up vehicle assembling plants in Sri Lanka are in the pipeline, while the government will promote vehicle value addition in the country, State Minister of Finance, Money Capital Markets and State Enterprise Reforms, Ajith Niward Cabral told Parliament this week.

CSE approves the first Empower Board listing

The Colombo Stock Exchange (CSE) has approved, an application submitted by Chrissworld Limited, for the listing of its Ordinary Voting Shares by way of an offer for subscription on the Empower Board of the CSE.

Sri Lanka to host BIMSTEC this August

Sri Lanka has been selected to chair the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) this year, an event if held physically as planned would help increase tourism traffic to the country.

Sri Lanka welcomes 4, 582 tourists in March

Sri Lanka received 4, 582 tourists in March, up from 3,366 in February and 1, 682 in January, the tourist arrivals data released by Sri Lanka Tourism Development Authority (SLTDA) showed.

Local ‘Ambul’ bananas to be exported for first time

Agriculture Minister Mahindananda Aluthgamage this weekend inspected the Ambul banana cultivation produced for the export market in Anuradhapura Rajanganaya from Yaya 1 to Yaya 5 in the Anuradhapura District.

CEB to raise up to Rs.20bn via Colombo Stock Exchange

State-owned power utility Ceylon Electricity Board (CEB), which is the country’s monopoly electricity transmitter and distributor, is gearing to raise up to Rs.20 billion through a listed debenture issue on the Colombo Stock Exchange (CSE).

SL Tourism’s ‘Bio Bubble’ receives global recognition

The ‘Bio Bubble’ concept of Sri Lanka Tourism has come under fresh spotlight on the global stage with the International Trade Tourismus-Börse Berlin (ITB) recognising the initiative as an innovative implementation

Colombo Tea Auction prices undergo correction

Prices at the Colombo Tea Auction saw a correction this week after being buoyant over a period of over ten months, with the prices declining by Rs.20-30 per kg.

SriLankan launches ‘Neighbour Free Seats’

In an effort to facilitate a safe and secure in-flight experience, national carrier SriLankan Airlines today announced the launch of ‘Neighbour Free Seats’.

Global trade braced for speedy recovery, but uneven growth: WTO

Global trade has prospects for speedy recovery this year with the expansion of merchandise trade, however the recovery process will be uneven after the COVID-19 pandemic shock, the World Trade Organisation (WTO) said last evening.

UL flies in Sinopharm consignment from China

National carrier SriLankan Airlines today flew in a consignment of Sinopharm (BBIBP-CorV) vaccines manufactured in China.

LKR hits record low of Rs. 202.04 against US dollar

The Sri Lankan Rupee (LKR) hit a record low of Rs 202.04 per US dollar today, data from the Central Bank (CBSL) revealed.

SLT-MOBITEL sets record straight on spyware allegations

SLT-MOBITEL today issued a statement categorically denying that the malicious messages circulating on social media regarding the installation and propagation of a spyware, claiming the telecom service provider, are complicit in an alleged unlawful activity meant to compromise the information of its customers.

IATA pushes for antigen testing to re-start air travel

International Air Transport Association (IATA) is urging governments to accept best-in-class rapid antigen tests in fulfillment of COVID -19 testing requirements following a research report by OXERA confirming accuracy of results.

Unemployment rate reaches an all-time high of 5.8%

Sri Lanka’s unemployment rate reached 5.8 percent in the third quarter of 2020 (3Q20), the highest-ever recorded in recent years

Dr.Harsha Cabral appointed HNB Acting Chairman

Following the resignation of top professional Dinesh Weerakkody as the Chairman of Hatton National Bank PLC (HNB) with effect from today due to personal reasons, Dr.Harsha Cabral has been appointed as the Acting Chairman of the bank during an emergency meeting held before the bank’s Annual General Meeting this morning, Mirror Business learns.

56% of Piramal Glass Ceylon traded; mandatory offer expected

The Colombo Stock Exchange today saw the sale of 56 percent of Piramal Glass Ceylon PLC.

SL keen to work with China to boost cooperation in infrastructure and tourism

The government yesterday expressed its willingness to work with the world’s largest economy, China, to expand cooperation in fields such as infrastructure and tourism.

Discounted Tuk rides from Uber to vaccination centers

Taxi hailing app, Uber announced today it will provide discounted three-wheel rides for its customers travelling to 13 vaccination centers located across Colombo.