In a surprising twist of fate, Sri Lanka’s business landscape has catapulted to levels unseen since early last year. The latest Central Bank business survey unveils a substantial uptick in the 4Q23 economic analysis, painting a cautiously optimistic picture of the nation’s economic resurgence. The index, which stood at a modest 93, indicates a rally…
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…
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…
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…
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…
Sri Lanka’s Ministry of Shipping and Ports says last year 183 ships arrived at the Magampura Mahinda Rajapaksha Port in Hambantota Port. Out of these ships, 175 ships were cargo ships. In 2017, 126,514 tonnes have been unloaded at the Magam Ruhunupura Mahinda Rajapaksa Port and 46,835 tonnes have been shipped from the Port. The…
(I) BACKGROUND TO THIS REPORT Over the past thirty two months, various inquiries, investigations and judicial processes in relation to Sri Lanka’s biggest-ever economic scandal, the Bond Scams of February 2015 and March 2016, have been carried out by different authorities. However, due to the complexity of this issue and the subsequent masterly cover-up attempt, the magnitude…
Ward Place in Colombo has been closed for traffic from Town Hall due to a protest by university students, Ada Derana reporter said. The Inter University Students’ Federation (IUSF) organised the protest march in Colombo today (21), demanding solutions for the issues of South Eastern University students. The agitation is also against the recent statements…
In the midst of navigating through profound economic challenges, Sri Lanka finds itself at a crossroads where extended tax imposition has become the cornerstone for financial crisis recovery. The International Monetary Fund (IMF), steering the course of the nation’s fiscal reforms, posits that a steadfast approach towards improving tax policies is pivotal for Sri Lanka…
The Department of Registration of persons has facilitated a one-day service for students sitting for the upcoming Ordinary Level Examinations to obtain their ID cards. Commissioner General Viyani Gunathilake said that IDs could be obtained at the main office of the department on November 25. The Commissioner General notes that the ID card need not…
uly 26, Colombo: The Dubai Police said they have recovered a rare blue diamond estimated to be worth $20 million which was stolen from a city company’s vault by a Sri Lankan security guard and smuggled to Sri Lanka in a shoebox. The diamond was stolen by a Sri Lankan who worked as security guard…
In today’s digital age, e-commerce businesses in Sri Lanka face stiff competition to attract and engage with potential customers online. With businesses relying heavily on their websites as the primary point of contact with their customers, implementing an effective search engine optimization (SEO) strategy has become more important than ever before. SEO plays a critical…
Amid shifting global trade dynamics, a significant evolution is unfolding within India-China business relations. Tensions have heightened in the arena of international projects, with nations like Sri Lanka seeking partners typified by partnership stability. Sri Lanka’s decision to favor India over China for critical energy tenders exemplifies the changing landscape. This move away from Chinese…
The fiscal landscape of Sri Lanka is approaching a significant shift, with VAT implementation in Sri Lanka standing at the forefront of modernizing the nation’s tax regime. Amid broader Sri Lankan tax reform, transitioning towards a system bolstered by Value Added Tax (VAT) is pivotal. Eyes are set on fostering economic recovery through taxation, and…
As gatekeepers of professional standards, CMA Sri Lanka recently gathered the esteemed minds in the field of finance and management at the Cinnamon Grand for a momentous occasion. The inauguration of the National Management Accounting Conference 2023 underscored the emergent need for ‘Sustainability and Value Creation in an Economic Turmoil’. Alongside the conference, the Professional…
SriLankan Airlines, the national carrier of Sri Lanka and a member of the oneworld alliance, achieved the highest ever monthly revenue in Company history in December 2017. The air-transport operation of the Company recorded a stand-alone revenue of US Dollar 100.1 million – the first instance in the 38-year history of the airline where monthly…
As Sri Lanka’s corporate sphere eagerly approaches the most prestigious event of the year, the anticipation for the announcement of the National Business Excellence Awards 2024 reaches its peak. This eminent Corporate Awards Ceremony is poised to honor the most outstanding contributions to Sri Lankan Business Recognition, encapsulating the highest standards of Business Leadership and…
In an impressive display of international trade relations, the Sri Lanka – Korea Business Council (SLKBC), under the auspices of The Ceylon Chamber of Commerce, recently spearheaded a compelling SLKBC event aimed at fortifying Sri Lanka-Korea business collaboration. This exclusive Business Networking Evening brought together a confluence of Members of the Council, esteemed diplomats, savvy…
Amidst the bustling capital of Sri Lanka, Port City Colombo emerges as a beacon of commercial development, set to redefine the urban landscape and signal a new era for business growth. At its heart lies the Business Center at Port City, a meticulously designed trade and finance nucleus poised to transform this vibrant island nation…
Jan 16, Colombo: Skeletal remains of 300 people and human bones have been unearthed as of today from the mass grave found in Mannar in Northern Sri Lanka after the grave area has been expanded for a second time since the excavations began on May 28 last year, Senior Judicial Medical Officer Shaminda Rajapaksa said….
The heart of Sri Lanka’s economic recovery beats in the resilience of its small businesses. Amidst ongoing financial crises and the aftermath of a global pandemic, small businesses in Sri Lanka are emerging as crucial players in igniting SME growth and bolstering post-Covid-19 economic resilience. Considering the dynamic landscape of Sri Lanka economic challenges, it…
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…
Amidst the vibrant economic landscape of Sri Lanka, Port City Colombo emerges as a powerhouse for entrepreneurs and businesses, establishing itself as a premier Sri Lanka business hub. With its comprehensive corporate services and unparalleled investment opportunities, this beacon of commerce stands tall, heralding a new chapter in the island’s economic development. The Business Center,…
Jan 22, Colombo: A research study published in Current Biology reports that the Sri Lankan elephants are scared of the sounds of honey bees and the honey bee colonies can be used to deter the elephants from roaming into villages and destroying the farmers’ cultivations. Playbacks of honey bee sounds have successfully been used for many years…
In an endeavor to energize Sri Lanka’s business revival, the Central Bank has introduced pivotal MSME recovery regulations. These regulations are designed to facilitate the resurgence of micro, small, and medium enterprises (MSMEs) by instituting business revival units within licensed banks. Each unit will specialize in assisting economically distressed businesses, steering them towards a path…