The stability and growth of the Sri Lanka economy often hinge on the dynamics of foreign investment and the ebb and flow of financial markets. Amidst fluctuating global investment patterns, Sri Lanka is experiencing a critical economic juncture, with foreign holdings in government securities dwindling. The descent of these investments below the significant threshold of…
The Sri Lanka United National Businesses Alliance (SLUNBA), advocates for secure transactions within the Sri Lanka banking sector, has been actively recommending the utilization of Sinhala agreement forms. This initiative is especially pertinent for SME banking in Sri Lanka, where a significant portion of entrepreneurs may not be proficient in English. SLUNBA’s latest campaign encourages…
Amidst an ever-evolving economic landscape, the Asian Development Bank (ADB) has made a resolute commitment to stimulate economic development by providing a $100 million ADB loan extension to support SMEs in Sri Lanka. This initiative is poised to empower local enterprises, ensuring they have equitable access to financial growth opportunities essential for their expansion and…
Addressing an important Parliamentary session on March 20th, Sri Lanka’s State Tourism Minister, Diana Gamage, advocated for stronger enforcement of visitor visa regulations, and a decisive business activity crackdown. Her statement highlighted the urgent need for tourism policy enforcement to bolster Sri Lanka economic protection, especially in the Southern Province, where local enterprises have been…
The Ministry of Sustainable Development and Wildlife has taken measures to increase the legal punishment for the killing of tuskers. Minister Gamini Jayawickrama Perera said, officials of the Department of Wildlife and the Attorney General’s Department will meet day after tomorrow to discuss further on the matter. Four tuskers were killed in the recent past….
Corporate ICT solutions have become the lifeblood of continued innovation and growth for Sri Lankan enterprises. Recognizing this essential factor, Dialog Axiata has emerged as a formidable ally to small and medium enterprises (SMEs) through its dedicated wing, Dialog Enterprise. A recent initiative called the ‘Future Proof Your Business Through Digital Transformation Exhibition’ was a…
Ministry of Defense Cyber Operations Centre at Sri Lanka Air Force (SLAF) Headquarters was declared open by the Secretary to the Ministry of Defense Kapila Waidyaratne on Monday on the invitation of the Commander of the Air Force Air Marshal Kapila Jayampathy. The visiting Defense Secretary was welcomed to the new Cyber Operations Centre by…
The landscape of Sri Lanka’s corporate offices is undergoing a transformative shift with the establishment of the Port City Business Center. This innovative business hub marks a new era in modern professionalism, offering prime office space that caters to the demands of discerning businesses, both local and international. Situated in the heart of Sri Lanka’s…
Kodituwakku was speaking to the South China Morning Post at the Sri Lankan embassy in Beijing earlier this month, before the devastating Easter Sunday bombings, which have so far killed at least 290 people. Sri Lanka’s debts include loan repayments to individual nation lenders such as Japan and China, as well as to multilateral financial institutions like…
Sri Lankan President Maithripala Sirisena has appointed seven members to the Office on Missing Persons (OMP) and handed over the over the appointment letters to the commissioners of the OMP on Wednesday at the Presidential Secretariat. The OMP law was passed in Parliament in Aug 2016 and the office became operational in September 2017 after…
COLOMBO: Singapore and Sri Lanka signed a free trade agreement on Tuesday (Jan 23) which will deepen economic ties and facilitates greater trade flows between the two countries. The Sri Lanka-Singapore Free Trade Agreement (SLSFTA) was signed by Singapore’s Minister for Trade and Industry (Industry) S Iswaran and Sri Lanka’s Minister for Development Strategies and…
“Success is where preparation and opportunity meet.” This powerful insight by racing driver Bobby Unser elegantly encapsulates the budding partnership between Japan and Sri Lanka. As Japanese investments in Sri Lanka pivot towards an era of reinvigoration, it becomes clear that the groundwork laid by the economic ties of nations can lead to formidable business…
COLOMBO (News 1st) Sri Lanka’s Central Bank Governor Ajith Nivard Cabraal stated that the country is required to resolve USD 12.5 Billion in debt through International Sovereign Bonds over the next seven years. Talking to the American-based CNBC Governor Scott said the outstanding foreign debt in 2022 will be around USD 6.9 Billion. “Out of…
In a significant move to nurture the entrepreneurial spirit in Sri Lanka, People’s Bank has joined hands with the International Finance Corporation (IFC) to empower women entrepreneurs across the nation. This partnership stands as a testament to the enduring commitment of People’s Bank Sri Lanka and IFC towards the advancement of micro, small, and medium-sized…
In an unprecedented move that paves the way for a transformative era in South Asia, the Port City Colombo development has officially launched the creation of its premier park, a landmark event signaling Sri Lanka’s ascent on the economic horizon. This groundbreaking ceremony heralds the emergence of a new tech and commerce strategic hub, a…
Seven hundred buses representing the Kurunegala district have already left for Colombo carrying participants to the ‘Jana Balaya Colombata’ protest rally, which is planned to be held this evening (05), according to former Minister Jayarathne Herath. Kurunegala is the district represented by former President Mahinda Rajapaksa and populated by the most affected people, he added….
Two foreigners drowned in two separate incidents in the seas off Koggala and Thalpe in Habaraduwa last morning (29), the Habaraduwa Police said. A Dutch woman who was rescued by the life guards when she was being pulled by the strong currents in the sea succumbed to serious injuries upon admission to Karapita Teaching Hospital….
The landscape of logistics services in Sri Lanka is marked by the dynamic interplay of its vibrant import/export sector, robust freight forwarding capabilities, and ongoing efforts in trade facilitation. However, this environment is not without its trials, particularly when it comes to maintaining equitable terms of trade. In the realm of shipping and transportation, credit…
Sri Lanka Prime Minister Ranil Wickremesinghe has expressed deep concern over the recent statement made by the State Minister of Child Affairs Vijayakala Maheswaran that the vanquished terrorist organization LTTE should be reorganized to curb rising crime in the North. Accordingly, the Prime Minister has asked the President to remove Vijayakala Maheswaran from the state…
The Sri Lanka Survey Department (SLSD), the national surveying and mapping organisation under the Ministry of Land and Land Development, has taken steps to revise the geographical map of the country after 18 years. The new map of Sri Lanka consisting of 92 maps in a 1:50,000 ratio is in progress, Survey General of Sri…
The landscape of Sri Lanka healthcare is undergoing a momentous transformation, with the Asiri Port City Hospital stepping into the limelight as a significant business pillar. Recognized for its strategic business importance, Asiri Port City Hospital, with its comprehensive healthcare development plan, is poised to revolutionize the nation’s medical services. Securing cabinet approval as a…
As a beacon of financial excellence in Sri Lanka’s financial landscape, LB Finance PLC has entered 2023 with a series of commendable achievements that reinforce its standing in the industry. The company’s dedication to best practices in financial reporting and corporate governance has been internationally acclaimed, securing multiple accolades that showcase its prowess. LB Finance’s…
ikman.lk, Sri Lanka’s largest online marketplace recently introduced ‘ikman Pay’ providing customers’ greater convenience and enhanced security across all its online payment options. Any ikman.lk service or product that requires payment can now be easily processed through ikman Pay https://pay.ikman.lk/ Combining all online payment options ikman Pay includes ikman.lk’s wide range of payment solutions such as…
Anna-Marie Ondaatje will represent Sri Lanka in the Rythmic Gymnastics event, at the Asian Games 2018 in Jakarta, Indonesia. Ondaatje represented Sri Lanka previously at the Gold Coast 2018 Commonwealth Games, where she finished in 11th position out of 16 in the Women’s individual all round finals, and became the first Sri Lankan gymnast to ever…
Amid its most challenging economic downturn post-independence, Sri Lanka is actively examining fiscal reforms, including a critical Sri Lanka tax policy alteration. The government’s contemplation of a VAT rate cut, anticipated to roll out in the second quarter of 2024, signifies a strategic maneuver within the 2024 tax amendments to reinvigorate economic growth. This tax…