The Sri Lankan free trade agreement (FTA) negotiators want India to implement interim remedies for the non-trade barriers that exist in the current Indo-Lanka Free Trade Agreement (ISFTA) prior to the signing of the Economic and Technology Co-operation Agreement (ETCA), in order to build up the confidence on the ETCA among Sri Lankan stakeholders.
Sri Lanka’s trade gap widened considerably to US $ 1.06 billion in February from US $ 743 million a year earlier, while the cumulative gap for the first two months of the year expanded to US $ 2.1 billion from US $ 1.68 billion during the same period, last year.
Plantation Industries Minister Navin Dissanayake yesterday asserted that the populist government interventions in Sri Lanka’s rubber industry have indirectly led to subsidization of big businesses as well as to corruption,
Sri Lanka risks losing a key market for its high and medium grown teas as tea exports to Japan remain close to zero during this year amid Japanese authorities rejecting several tea shipments during last four months amounting in value to approximately Rs.1 billion, Mirror Business learns.
State Minister of National Policies and Economic Affairs Dr. Harsha de Silva yesterday ruled out the possibility of introducing measures to contain the devaluation of the rupee, in the wake of the local currency hitting record lows against the U.S. dollar.
The Central Bank Governor Dr. Indrajit Coomaraswamy handed over the first copy of Central Bank’s Annual Report - 2017 to Minister of Finance and Mass Media Mangala Samaraweera yesterday at the Treasury as per the statutory requirement. Secretary to the Treasury Dr. R. H. S. Samaratunga, and Deputy Governors Dr. P. Nandalal Weerasinghe, K.D. Ranasinghe and C.J.P. Siriwardene were present at the occasion.
The government has made significant progress in disclosing the status of implementation of promises in the budget 2017 in the last six months of 2017 and beyond, compared to the first half, a leading think-tank in the country said.
Petroleum Resources Development Ministry along with the shadow industry regulator, Public Utilities Commission of Sri Lanka (PUCSL), are gearing to implement the third round of liberalisation of Sri Lanka’s lubricant industry, based on a budget proposal.
Sri Lanka’s paddy production will increase by approximately 63 percent to reach 2.4 million metric tonnes, in the current 2017/18 Maha season, recovering from the drought experienced during the previous Maha season, the Agriculture Department forecasted in a report.
Sri Lanka’s State Minister of Finance Eran Wickramaratne has pointed out that building capacity for public debt and liability management is a matter of priority for many developing nations, particularly the low-income countries.
The Tourism Development Ministry will be reaching out to the diplomatic community to show the remedial action taken by the government to ensure that tourists aren’t harassed or harmed in the future after the recent trouble experienced by tourists in Mirissa and the local communal violence which took place in Kandy.
The UK Secretary of State for International Trade Liam Fox has said that Britain is ready for direct investments in Sri Lanka while increasing its existing investments in the country. According to President Maithripala Sirisena’s media division, the British government will take necessary measures in this regard in the near future.
In order to help the small states get access to global markets, Sri Lanka has pledged financial contribution to setup the Small States Trade Financial Facility, on the margins of the ongoing Commonwealth Heads of Government Meeting (CHOGM) in the United Kingdom.
Sri Lanka yesterday pledged to protect tourists visiting the island nation as much as possible following a spate of attacks on foreigners, but stressed that the responsibility of protecting tourists falls on the tourists themselves, as well as every Sri Lankan citizen.
CHEC Port City Colombo this week hosted its future utility partners, representatives from allied government agencies and prospective investors to an event themed ‘Roadmap to Prosperity’, held at The Kingsbury, to present the project’s Development Control Regulations (DCR).
Aiming for quick wins to move up the 2019 Ease of Doing Business rankings of the World Bank, the Sri Lankan government will be introducing online property search and registration services for the city of Colombo, while other regions would be left waiting for another two years.
Moody’s Investors Service yesterday said the new Inland Revenue Act (IR Act) developed to build weak state revenues would help to gradually bridge the massive hole in the fiscal account and reduce the external vulnerability marred by heavy public debt in the medium term.
The national carrier, SriLankan Airlines, which is running at massive losses, is hoping to return to profitability in three years according to the new director board, which was appointed this week following the resignation of the previous directors.
Headroom to tackle Sri Lanka’s worsening public debt situation appears to be disappearing as the government estimates a whopping US $ 15 billion in foreign debt service payment during the four years from 2019 to 2022.
Those who eavesdrop to the chitchat among listed company directors and top officials at social gatherings and cocktails and trade at the Colombo bourse based on such information, could fall into trouble in future with the enactment of the new Securities and Exchange Commission (SEC) Bill. The new Bill, which is at least a decade or more overdue, has provisions to catch anyone that trades on unpublished,
Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, has selected new media platform, Roar, insurance broker, InsureMe and integrated healthcare platform MyDoctor.lk as its first phase of investments.
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