New Board of Directors appointed for SriLankan Airlines

A new Board of Directors has been appointed for SriLankan Airlines with Sarath Ganegoda as the Chairman.

Hareendra Dissabandara appointed Chairman of Sri Lanka SEC

Senior Professor Hareendra Dissabandara has been appointed as the new Chairman of the Securities and Exchange Commission (SEC) of Sri Lanka.

UN hosts rare special emergency session to address crisis on Coral Reefs

With data confirming the worst ecological crisis facing coral reefs, amidst the ongoing fourth and most extensive coral bleaching event on record, an emergency special session has been called for October 30 on the sidelines of the UN Biodiversity Conference COP16 in Cali, Colombia.

WB inks additional US$200 Mn to support economic reforms in SL

The World Bank and the Government of Sri Lanka today signed the Second Resilience, Stability, and Economic Turnaround (RESET) Development Policy Operation (DPO) for $200 million.

USD selling rate drops below Rs. 300 after 15 months

The selling rate of the US dollar has fallen below Rs. 300 for the first time since June 8, 2023.

OTDYKH leisure 2024 marks 30th anniversary

The 30th anniversary International Forum and Exhibition OTDYKH Leisure 2024 concluded on September 19 at the Expocentre Fairgrounds, attracting over 9,000 industry professionals, including representatives from Russian regions, foreign delegations, tour operators, hotels, and various tourism-related sectors. The event was a resounding success, fostering collaboration and innovation across the global travel industry.

Gold prices to continue breaking records until mid-next year

Gold prices are expected to continue its record-breaking upward trajectory with forecasts projecting a new all-time high of US $ 2,750 per ounce by the end of 2024, according to a report by the Union Bank of Switzerland.

CBSL maintains policy interest rates at their current levels

The Monetary Policy Board of the Central Bank of Sri Lanka has decided to maintain its policy interest rates at their current levels.

Fitch affirms Sri Lanka at ’Restricted Default’

Fitch Ratings announced today it has affirmed Sr Lanka’s LongTerm Foreign-Currency Issuer Default Rating (IDR) at ’RD’ (Restricted Default) and Long-Term Local-Currency IDR at ’CCC-’.

Tourist arrivals below expectation: SLTDA

The hit on Sri Lanka’s tourism sector is expected to only further aggravate, with a proper solution yet to be implemented.

Sri Lanka economy slows ahead of presidential elections

Sri Lanka’s economic growth slowed, government data showed Sunday, days ahead of the first presidential elections since an unprecedented financial meltdown in 2022.

Next President must have clear and robust policies that enable exporters to thrive: NCE

Sri Lanka’s export fraternity yesterday asserted that the next President must have clear and robust policies that enable exporters to thrive, ensuring they have access to the resources, support, and international market opportunities they need to succeed.

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.