Fresh tourism promo campaign launched by leading industry players to attract Indian market

Cinnamon Hotels and Resorts, Walker’s Tours, Aitken Spence Hotels, Aitken Spence Travels, Jetwing Hotels, and Jetwing Travels join forces with SLTPB and SriLankan

EU backing for Sri Lanka on climate change adaptation

The European Union (EU) has expressed its willingness to extend support to Sri Lanka as it adapts to the impacts of climate change. The EU has said it is committed to working with Sri Lanka to help the country build a more resilient and sustainable future.

Govt. focuses on developing credible system to regulate Samurdhi banking system

​State Minister of Finance Shehan Semasinghe and State Minister of Social Empowerment Anupa Pasquale this week chaired a discussion with Central Bank Governor Dr. Nandalal Weerasinghe on regulating the Samurdhi banking system.

BOC presents Annual Report 2022 to President

The Bank of Ceylon (BOC) Annual Report 2022 was presented to President Ranil Wickremesinghe, the Minister of Finance, Economic Stabilisation, and National Policy, by BOC Chairman Ronald C. Perera at the Ministry of Finance yesterday.

Montana to become first US state to ban TikTok

BBC: Montana is set to become the first US state to ban Chinese-owned media giant TikTok from personal devices.

Oceanpick premium product Barramundi enters Europe

Oceanpick, Sri Lanka’s first and South Asia’s largest oceanic finfish farm, has reached another momentous milestone for its ocean-grown Barramundi having successfully entered the European market through its strategic partnership with Kangamiut Seafood.

Prime Group completes flagship project ‘The Grand Ward Place’

The Grand Ward Place, the ultra-luxurious flagship project of Prime Group declared open with its esteemed clients and project partners this week.

Fresh tourism campaign launched by top industry players to entice Indian market

Citra, NIA partners to strengthen SL’s social innovation eco-system

To help Sri Lanka advance the national development agenda to tackle some of the most pressing challenges faced in society, efforts are underway to strengthen the social innovation ecosystem in the island nation.

People’s Bank denies social media claims on loan write-offs

People’s Bank has denied views expressed on the Bank’s non-performing loan write-offs as shared in certain social media groups.

Three more promotional events to entice Chinese travelers in May

To entice Chinese travelers to visit the island nation, the Ministry of Tourism and the Sri Lanka Tourism Promotions Bureau (SLTPB) has planned a series of activities to be carried out towards the second half of May.

Sri Lanka’s airline posts US $ 525mn annual loss

Cash-strapped Sri Lanka’s national airline announced a staggering US $ 525 million annual loss yesterday

Government defends proposal to raise Treasury bill ceiling by Rs.1tn

The government defended the proposal to raise the short-term Treasury bill ceiling by Rs.1 trillion, given the prevailing high market yields on the longer-tenure Treasury bonds, due to the uncertainty prevailing over domestic debt restructuring.

Lankan baker Tharshan Selvarajah bags ‘Best Baguette’ title in Paris

Sri Lankan baker Tharshan Selvarajah came under the fresh spotlight this week, as he walked away with the first-place title at the 30th annual ‘Grand Prix de la Baguette de Traditional Francaise de la Ville De Paris’.

Colombo Tea Auction sees highest offering since Jan. this week

The Colombo Tea Auction this week saw the highest offering since January this year, which was met with fair demand, at firm to easier rates.

Sri Lanka-China route to get three more flights from July

As Sri Lanka is witnessing a week-on-week increase in tourist arrival from China, more flights will be added in the coming months between the two countries.

Elon Musk names Linda Yaccarino new Twitter CEO

Elon Musk has named a new chief executive of Twitter, just over six months after his controversial takeover of the social media company.

Damro opens Rs.310mn purpose-built office complex dedicated to exports

Strengthens board of directors with respected corporate leaders

Pledge from Prez. to transform ignored education sector in next 10 years

Asserts need for necessary changes in edu. system to support country’s development agenda

Two Lankan student teams reach World Finals at Microsoft Imagine Cup 2023

Two teams from Sri Lanka, team Sipsara and The Green Tycoon, successfully qualified to the World Finals (Asia) stage at Microsoft Imagine Cup 2023, Microsoft’s global competition for students to dream and build new ways of using technology to improve lives.

SL to update colonial-era land policies to meet current development needs

President instructs officials to amend provisions of land management ordinances and introduce new regulations Stresses that archaic land policies established during the colonial era are no longer suited to modern development needs

Transportation expert stresses need to uplift Sri Lanka’s bus infrastructure

Calls for change in the bus regulatory model to bring in private investments

Nestlé Lanka 1Q profits surge on superlative top line performance

To hold EGM on June 30 to pass resolution pertaining to de-listing of its shares from CSE’s official list

Bank of England hikes interest rates for 12th time in its battle with inflation

CNN: The Bank of England raised interest rates by a quarter of a percentage point yesterday in its battle with inflation and said the UK economy would dodge a recession as energy prices fall.

Emirates Group logs record profits of US$ 3 bn as passenger numbers surge by 123%

CNBC: Emirates Group reported record profit and revenue figures yesterday for the year ending April 2023, with customer numbers booming as the majority of pandemic-induced travel restrictions were lifted.

Janet Yellen says US default would trigger global economic downturn

CNN: US Treasury Secretary Janet Yellen urged Congress yesterday to raise its debt ceiling, warning that a US default would produce an “economic and financial catastrophe” that would trigger a global economic downturn and risk undermining the country’s ability to provide global leadership.

UNDP and government embark on green recovery project converting 500,000 Tuk-Tuks to EVs

In an effort to push Sri Lanka towards electric mobility (e-mobility) so that low-carbon solutions can be adopted, the United Nations Development Programme (UNDP) and the government yesterday launched a project to convert 500,000 Tuk-Tuks to electric vehicles (EVs) or e-Tuk-Tuks over a five-year period.

International tourism on track towards recovery: UNWTO Barometer

International tourism, which was severely crippled due to implications stemming from the Covid-19 pandemic, is well on its way to recovery, the latest UNWTO World Tourism barometer revealed.

Sri Lanka to apply for GI for Ceylon Tea from EU this September

Sri Lanka plans to formally apply for Geographical Indication (GI) for Ceylon Tea from the European Union (EU) this September, with intentions to replicate the same move in other key markets of Ceylon Tea subsequently.

Apparel exports could drop by US $ 1bn this year: JAAF

Sri Lanka’s apparel export earnings could slump by US $ 1 billion this year as a result of the demand slowdown in key export markets amid rising inflation and higher interest rates, a Reuters news report said quoting a top official of the Joint Apparel Association Forum (JAAF).