December remittance income plummets 60%

In contrast to repeated claims made by the authorities, worker remittances income plummeted as much as 60 percent from the same month last year extending the declining streak for the eighth consecutive month.

Pharma Chamber warns of disastrous medicine shortages

India confirms a SAARC currency swap up to US $ 400mn

India has confirmed its support to Sri Lanka by way of a currency swap under the SAARC arrangement and a deferment of a previous loan.

Not so happy new year for container shipping lines

Leading integrated logistics company, Maersk has warned its customers that 2022 will be yet another challenging year as there will be more issues in the global supply chains going forward.

SL soon to have improved access to employment in UK’s healthcare sector

Sri Lankans will soon have improved access to emerging employment opportunities in the health sector of the United Kingdom (UK) with the government looking to ink an MoU in that regard.

WB sees sharp world growth slowdown, ’hard landing’ risk for poorer nations

REUTERS: The World Bank on Tuesday cut its forecasts for economic growth in the United States, the Euro area and China and warned that high debt levels, rising income inequality and new coronavirus variants threatened the recovery in developing economies.

SriLankan records profits for first time since pandemic in Dec.

December 2021 became the first profitable month since the outbreak of the Covid-19 pandemic for SriLankan Airlines as it reported a company profit of US$ 9.25 million and a group profit of US$ 10.66 million.

Urgent action needed to boost USP of Ceylon Tea

Relevant authorities must take urgent action to strengthen the Unique Selling Point (USP) of Ceylon Tea if Sri Lanka plans to retain and grow its global market share.

Gas shortage creates new jobs in the market

While Sri Lanka’s unemployment rate edged up to 5.2 percent in the third quarter of 2021 (the latest available data), it appears that the ongoing cooking gas shortage is providing new job opportunities to people, helping the government to counter increasing joblessness in the economy.

Relief package will compound govt.’s fiscal challenges: Moody’s

The Rs.229 billion relief package announced by the government a week ago will reduces Sri Lanka’s scope for fiscal and debt consolidation, though it could support economic recovery, Moody’s Investors Service said in a brief statement today.

SL secures first ever coco-peat deal to Kenya

Sri Lanka secured the first ever coco peat deal to Kenya where the first consignment of the natural fiber was shipped to the destination from the Colombo Port on 4 January 2022.

CNN Travel encourage tourists to visit misunderstood city of Colombo in 2022

Sri Lanka’s pristine beaches and lush green mountains were used to be the main attractions for international travellers, however, this time round it is the commercial capital of Colombo that is recommended by CNN Travel.

Bill & Melinda Gates Foundation offers to assist SL to develop digital strategy for agriculture

The Bill & Melinda Gates Foundation has offered to assist the Information and Communication Technology Agency of Sri Lanka (ICTA) in the development of Farmer Data Management Systems and Digital Strategy of Sri Lanka’s agriculture sector.

Maersk overtaken by MSC as world’s largest container line

Integrated logistics company, Maersk is no longer the world’s largest container line with Mediterranean Shipping Co. (MSC) taking the lead.

Lankan expats NOT subjected to conversion rule: Cabraal

As confusions mount on the conversions of the dollar earnings of Sri Lankan migrant workers, the Central Bank reiterated today that expats are not subjected to rule on conversion.

Govt. to export excess turmeric this year

The government said it has plans to export the excess turmeric in the country this year so that the spices sector can up its contribution to the national export earnings.

Local tourism sector gets dedicated vacancy website

The slowly reviving tourism sector now has its very own window to share employment opportunities with the launch of the country’s first and only job site dedicated to the industry.

CBSL extends suspension of activities of Perpetual Treasuries

The business of Perpetual Treasuries Limited (PTL) has been further suspended by the Monetary Board of the Central Bank of Sri Lanka (CBSL) with effect from today.

CSE’s ASPI crosses 13, 000-point mark

The All Share Price Index of the CSE crossed 13, 000 point mark for the first time in the stock market’s history today.

Virtusa appoints new Chairman

Virtusa Corporation today announced the appointment of Rajeev (Raj) Mehta as its new Chairman of the Board of Directors.

CBSL says funds allocated for US $ 500m ISB maturing on Jan 18.

The Central Bank (CBSL) announced that Sri Lanka will meet its commitment for the International Sovereign Bond (ISB) that is maturing in the coming weeks as the necessary allocations have been made.

Banks not ordered to force customers to convert account balances: Cabraal

Central Bank of Sri Lanka (CBSL) Governor Ajith Nivard Cabraal took to Twitter today to stress that no instructions have been given to banks to force customers to convert balances in their foreign currency accounts.

2022 the year for global apparel sector to transform sustainability plans to reality

The global apparel sector will have to walk the talk in 2022 in their efforts towards tackling climate change as end consumers will want to see the ambitions being turned into reality sooner than later, analysis by Investment Insights highlighted.

Dedicated minister for each donor agency to canvass support

Even though the government has so far made no decision to seek International Monetary Fund (IMF) assistance, it has appointed dedicated ministers to interact closely with international donor countries and agencies.

BlackBerry era comes to an end today

The once popular BlackBerry era comes to an end today with the company having taken a call to stop supporting phones running on the BB OS.

CSE’s ASPI makes biggest gain in history today

The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) made the biggest single-day points gain in history today.

Expo 2020 Dubai to put SL under fresh spotlight today

Sri Lanka offering to the world will come under fresh spotlight on the international stage today as a national day will be hosted at the country pavilion at the Expo 2020 Dubai, UAE.

TRCSL Chief Oshada Senanayake steps down

Telecommunications Regulatory Commission of Sri Lanka (TRCSL) Director-General Oshada Senanayake has stepped down from his role.

State Min calls for capacity building in tea smallholder sector

The State Ministry of Company Establishment Reforms called on the need to strengthen the capacity and capabilities of the planters if the national economy is to be strengthened.

SL sets up biz council with Jordan to boost trade

Sri Lanka has set up a business council with Western Asia’s Jordan to firm up and boost economic ties and trade between the two regions.