Sri Lanka is attempting to host a conference next year in an attempt to become the leader in creating a rules-based order in the Indian Ocean, according to National Policies and Economic Affairs Deputy Minister Dr. Harsha de Silva.
As the anti-globalization movement continues internationally, Sri Lanka must form stricter controls on immigration, and communicate this to the public to avoid further local unrest, according to Former Sri Lankan Diplomat Sarala Fernando.
To sustain growth, job creation and poverty reduction, Sri Lanka needs to move to a more private investment, tradable sector-led growth model, says the latest Sri Lanka Development Update, the World Bank’s half-yearly flagship report on the country’s economy, future outlook and policy priorities. It recognizes Vision 2025 as a road map that outlines such a shift.
The 2018 budget will feature significant support for small and medium enterprises (SMEs) to compete in global markets, according to Finance and Mass Media Minister Mangala Samaraweera, whose ministry in an earlier occasion said Samaraweera would
Oil prices held steady yesterday, with Brent crude hovering near US $ 60 a barrel, buoyed by comments from Saudi Arabia’s Crown Prince backing the extension of OPEC-led output cuts. International benchmark Brent crude futures LCOc1 were up 3 cents, or 0.05 percent, at US $ 59.33 a barrel at 0648 GMT.
The top management of the Ceylon Electricity Board (CEB) will be dealt with appropriately for not facing the public and explaining why it is not responsibly discharging its duties to ensure energy security in Sri Lanka in an efficient manner, a visibly-irate National Policies and Economic Affairs Minister Dr. Harsha de Silva told a forum in Colombo, yesterday.
Sri Lanka’s Central Bank is currently working towards breaking the trend of the country’s economic agenda being hijacked by electionsor other such political developments, by making an attempt to institutionalize the various frameworks for macroeconomic policy formulation.
On the eve before the staging of the first edition of the ‘Rising Star Awards’ to recognize outstanding young talent in the hospitality industry, the head of The Hotels Association of Sri Lanka (THASL) urged the government to take a closer look at the challenges faced by the hotel industry in attracting talent.
An increasing number of Sri Lankan tea exporters are setting up tea processing facilities outside Sri Lanka, as the government doesn’t have a “backbone” to implement its own policy of creating a tea hub in the country due to influence from protectionist lobbies, the country’s tea exporters said.
The Colombo International Shopping Festival 2017, organized by the Tourism Development and Christian Religious Affairs Ministry in collaboration with the Sri Lanka Tourism Promotion Bureau and Sri Lanka Retailer’s Association opened its doors to the public yesterday.
Workers’ remittances, the key foreign exchange earner of the dollar-hungry nation, suffered a major setback this August, delivering a severe blow to the US $ 81 billion economy already grappling with massive debt load and outstretched current account deficit.
Law and Order and Southern Development Minister Sagala Ratnayaka this week said the government had strengthened the brand – Sri Lanka by establishing freedom, democracy and good governance and is seeing an upswing in the foreign direct investment (FDI) flows into the country.
Finance and Mass Media Minister Mangala Samaraweera met with Millennium Challenge Corporation’s (MCC) Regional Deputy Vice President for Europe, Asia, Pacific and Latin America, Fatema. Z. Sumar to review the progress of its 5-year ‘Grant Compact’ to Sri Lanka.
Sri Lanka has confirmed the purchase of 500000 metric tons of rice from four global suppliers to face pressure from its domestic markets distressed by paddy shortfall for three straight seasons. Shipments from one country are already being offloaded at Colombo Port. Sri Lanka is also returning back to its scrapped rice MRPs in the next two weeks.
The Sri Lankan government will look to streamline the regulatory process which has so far handicapped the ability of local companies to hire foreign labour by providing greater powers to the Immigration and Emigration Controller, according to Finance State Minister Eran Wickramaratne.
Finance and Mass Media Minister Mangala Samaraweera, who is currently in Washington to attend the World Bank/International Monetary Fund annual meeting, met with US Under Secretary for Political Affairs Ambassador Thomas Shannon at the US State Department.
Sri Lanka once again proved that it was becoming a favourite hotspot to provide picturesque locations for the Bollywood film industry when it selected Sri Lanka to do the cover shoot of the November issue of Filmfare magazine with Deepika Padukone, one of Bollywood’s successful actresses.
Amid the controversy surrounding the draft new constitution, the government behind closed doors is drafting a new legal framework to administer the China-backed Colombo International Financial City (CIFC), the 500-acre Colombo sea front reclaimed for a special economic zone, Mirror Business learns.
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