Maersk to add $174mn green & smart logistics center in China

Danish shipping company Maersk is gearing up to build its first green and smart flagship logistics center in China.

China expresses displeasure over targeted Covid-19 measures

As several countries worldwide are taking measures to prevent a new wave of Covid-19 infections with China readying to open up, the government of China retaliated to the move stating it is “unreasonable”.

Ella Street Food Fiesta kicks off today

Going parallel with the Christmas & New Year celebrations taking place across the counrty, authorities in the Uva province kicked off today the Ella Street Food Fiesta.

SriLankan Airlines brings Entrepreneurs’ Organization Nepal to Sri Lanka

SriLankan Airlines is organizing the first-ever series of meetings in Sri Lanka for Entrepreneurs’ Organization (EO) Nepal as part of its ramped-up efforts to help the country rebuild and grow tourism.

Corporates must be Triple Bottom Line driven - Rotary Global Head Jennifer Jones

The first Woman Rotary Global President Jennifer Jones called on all Sri Lanka Corporates to be focused not only on profit or bottom lines but also in the triple bottom line metrics of social, environmental and financial results even though the country is experiencing its toughest economic climates in history.

Monetary Board maintains SDFR and SLFR at current levels

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 23 November 2022, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50 per cent and 15.50 per cent, respectively, after considering the recent and expected developments in the domestic and global economy and macroeconomic projections.

IMF, budget, taxes and Sri Lanka’s crisis

A few months back the IMF was seen as the only savior who could put the house in order, but that belief amongst the masses has been eroded by the politicians since all austerity measures to be adopted are blamed on the IMF. Could politics and cheap talk again mess up public opinion and pave the way for a resurrection of corrupt, self-serving politicians to return to power?

5G+AI to assist smart, safe mining

Since the beginning of the year, the eruption of energy crises in certain parts of the world have gained global traction. To offset energy shortages, increases in coal consumption has been consecutive and considerable.

Municipal Waste Management in SL causing key social, environmental, economic concerns: UNDP

Sri Lanka’s Municipal Waste Management (MSW) is causing key social, environmental, and economic concerns as only 50 percent of the country’s waste is collected by the Central Environmental Authority (CEA), the United Nations Development Programme (UNDP) highlighted.

Taxing Tobacco: Why the 2023 Budget Should Increase Tobacco Taxes

Sri Lanka’s economy is at a critical juncture where urgent steps are needed to improve the country’s fiscal position. The Institute of Policy Studies of Sri Lanka (IPS) has maintained that increasing tobacco taxation has undeniable health and fiscal benefits. In this context, policy solutions, such as taxing tobacco which can be leveraged to boost government revenue without threatening economic growth, are essential.

Week commences in red

The ASPI closed in red as a result of price losses in counters such as Expolanka Holdings, Vallibel One and Hayleys with the turnover crossing Rs. 1.1 bn.

CCC drafts series of proposals to bring about effective, efficient, independent public sector

The Ceylon Chamber of Commerce (CCC) this week put forward a series of proposals to bring about the necessary reforms to ensure Sri Lanka has an effective, efficient, and independent public sector that would help the progression of the national economy.

October tourist arrivals cross 40,000 mark

Tourist arrivals to the country for the whole month of October crossed the 40,000 mark.

SriLankan scoops best aviation sustainability program award at SMBR Global Aviation Awards

SriLankan Airlines won the prestigious Best Aviation Sustainability Program Award, beating 118 other submissions at the recently concluded Sheikh Mohammed Bin Rashid Al Maktoum (SMBR) Global Aviation Awards for its groundbreaking signature upcycle project, ‘Mathaka.’

CSE trading hours extended by further 30 mins

Trading hours of the Colombo Stock Exchange have been extended by a further half an hour with effect from November 1.

Cargills FoodCity opens 500th outlet

The 500th retail outlet of Cargills FoodCity was opened this morning in Akuregoda. The Central Bank Governor Dr. Nandalal Weerasinghe was the chief guest at the event.

SriLankan Airlines’ ‘Say Bonjour to Paris’ Campaign Wins PATA Gold Award

National carrier SriLankan Airlines bagged a Gold Award in the category of ‘Marketing-Carrier’ at the 27th Pacific Asia Travel Association (PATA) Gold Awards 2022.

Coca-Cola back to returnable glass bottle

Carbonated soft drink manufacturer, the Coca-Cola Company today unveiled in Sri Lanka its new packaging, the ‘Big Buddy Bottle’, that will keep both, the pocket and the planet happy.

Korea provides US$ 6mn grant to improve employability of local talent pool

Sri Lanka’s talent pool will receive support towards an upliftment with the Republic of Korea through the Korea International Cooperation Agency (KOICA) providing a grant to improve the employability of the local workforce.

SL secures bid to host ’Miss Tourism World 2022’ grand finale

’Miss Tourism World 2022’ will host its grand finale in Sri Lanka this December from 8th to 21st with 80 winners from 80 countries.

Sri Lanka is and will remain a middle-income country

The International Monetary Fund (IMF) said that Sri Lanka is and will remain a middle-income country even after a decline in the Gross Domestic Product (GDP).

SL expects up to US$ 2bn worth multilateral funds from ADB and WB

Sri Lanka is expecting to raise up to US$ 2.0 billion worth of bilateral loans collectively from the Asian Development Bank (ADB), the World Bank and other multilateral lenders as bridge financing after country secured programme support from the Fund, according to President and the Finance Minister Ranil Wickremesinghe.

Cabinet nod given to voluntarily downgrade SL’s income status

Cabinet nod has been given to demote Sri Lanka to a lower income status, a step that is taken with the aim of having more access to financial assistance, loans and concessions.

Readers’ Choice Awards ranks SL in top 20 list of countries to travel in 2022

Destination Sri Lanka has made it to the top 20 list of the Readers’ Choice Awards 2022 by Conde Nast Traveler.

Govt. launches USD prepaid Tourist Fuel Pass

The government yesterday launched a fuel pass for tourists, enabling international visitors to procure fuel with minimal hindrance.

Monetary Board maintains SDFR and SLFR at current levels

The Monetary Board announced today that a decision has been taken to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50 per cent and 15.50 per cent.

CSE halts trading minutes after market opening

The Colombo Stock Exchange (CSE) halted trading today as the S&P SL20 index dropped over 5 percent from the previous close.

Higher import costs for food, fertiliser to add $9 bn to BoP pressures

A new paper by IMF staff estimates the impact of higher import costs for food and fertilizer for those highly exposed to food insecurity will add US$ 9 billion to balance of payments pressures of crisis hit countries in 2022 and 2023. This will erode international reserves, and their ability to pay for food and fertilizer imports.

Trading at CSE halted

Trading at the Colombo bourse has been halted for the rest of the day.

SL hosts series of events for WTD 2022

Sri Lanka celebrated today the international World Tourism Day 2022 by hosting a series of events to highlight the contribution of the industry to the national economy.