Sri Lanka’s Central Bank is hopeful that the island nation’s US $87 billion economy would grow at least 4 percent this year, despite both International Monetary Fund (IMF) and Asian Development Bank (ADB) revising down their growth forecasts to 3.8 percent recently. Sri Lanka’s eco
Hatton National Bank PLC (HNB) yesterday announced the signing of a new partnership agreement with the Asian Development Bank (ADB) in order to expand lending and provide guarantees of up to US $ 20 million to support the development of Sri Lanka’s burgeoning microfinance sector.
A consortium of leading multinational corporations in Sri Lanka last week officially launched League of Multinational Corporates (LMNC), a business association that will promote the island nation’s economic potential and initiate a dialogue with the government on the issues and opportunities in the investment landscape.
Sri Lanka has missed two key International Monetary Fund (IMF) targets set for June end as part of her three-year bail out money, but the missed targets are unlikely to derail the stabilization programme as talks will continue between the p
(Colombo) REUTERS: Sri Lanka’s finance minister urged its people to buy local products and shun unnecessary imports in order to reduce the trade deficit and help stabilise a rupee currency that revisited its all-time low yesterday.
Ceylex Engineering (Pvt.) Ltd, an associate company of LTL Holdings, has secured a Rs.3 billion loan from National Development Bank PLC (NDB) to develop two 10 MW wind power plants in Chavakachcheri.
The majority of German businesses operating in Sri Lanka are either planning or considering making further investments in Sri Lanka over the next two years, a survey conducted by the German Industry and Commerce in Sri Lanka (AHK Sri Lanka) has revealed. “German companie
(Colombo) REUTERS: The Sri Lankan rupee touched a fresh low of 165.10 per dollar yesterday, due to higher dollar demand from importers and banks to facilitate foreign bond outflows amid exporters who were reluctant to sell the U.S. currency, market sources said.
The “Sustainable Energy Expo 2018”, organized jointly by the Electricity and Renewable Energy Ministry, Sri Lanka Sustainable Energy Authority and the Chamber of Construction Industry opened at the BMICH (Nugasewana Hall) yesterday. Picture show Power and Renewable Energy Deputy Minister Ajith P. Perera making inquiries about some products on display.
Sri Lanka is urged to adopt a scrutinised strategy in engaging with China while utilising on balancing and enhancing measures such as FTAs to diversify relations with other economic powerhouses such as Japan and India to leverage on the island’s geostrategic positioning to establish itself as trade and finance hub, as similar to Switzerland
Sri Lanka Tourism has upped its tourist arrivals target to three million from 2.5 million this year, while eyeing four million tourist arrivals next year as the new tourism promotional campaigns are getting off the ground.
Ceylinco VIP yesterday held a series of protest demonstrations to raise awareness among motorists and the general public alike on mainstream issues Sri Lanka is facing—from drunk driving to drug menace to violence against women. Kicking off the protests at the Galle Face from 7:00 a.m. to 9:00 a.m., Ceylinco held its sec
Sri Lanka plans to have its own country pavilion at the world’s largest consumer goods show, Ambiente in 2020 organised by Messe Frankfurt. Addressing a media briefing in Colombo yesterday, Messe Frankfurt SP Sri Lanka CEO Omer Salahuddin revealed that Messe Frankfurt has been working with Export Development Board
The Ministry of Finance will launch a special hotline next week to receive public complaints on the Enterprise Sri Lanka (ESL) loan scheme as several reports have emerged that some banks have turned away the ESL loan applicants.
A leading academic recently proposed to set up a coordination body and to launch a comprehensive watershed management plan to manage Sri Lanka’s water resources effectively as the current uncoordinated intuitional framework poses risks to the country’s water security, despite having sufficient water resources.
The seismic vessel BGP Pioneer has arrived at the Colombo port to conduct a modern broadband 2D seismic survey for hydrocarbon exploration in selected offshore locations around the country. The study is carried out by Eastern Echo DMCC, a fully owned subsidiary of world’s largest oilfield player Schlumberger, at a cost of US$ 9 million. Picture shows Petrol
The Central Bank remains hopeful that it can migrate to flexible inflation targeting in the first quarter of next year— one year before it was originally planned. Flexible inflation targeting is where the interest rates are determined aiming a set inflation target instead of targeting reserve money or broad money in the economy. For instance, the U
Canada issues travel advisory over serious risk in Arugam Bay
More countries issue travel advisories
Sri Lanka Tourism invites global travellers for upcoming season
Russian embassy urges citizens to stay vigilant in Arugam Bay
US Embassy issues travel warning for Arugam Bay
Warning of a terror attack: Govt springs into action on multiple fronts
Indian Intelligence alerts Sri Lanka to potential attack in Arugam Bay
Tourism industry on edge as travel advisories mount
Israelis top tourist arrivals in Arugam Bay, but reduced now