In an ambitious move to bolster economic support for MSMEs, the Central Bank of Sri Lanka is ushering in a new era of recovery regulations. With a keen focus on fostering business revival, these measures are designed to provide a much-needed lifeline to the multitude of micro, small and medium enterprises that form the backbone…
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…
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…
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….
The Arugam Bay Girls Surfing Club in Sri Lanka is making waves, literally! The all-female surf club is shattering the stereotype that certain sports are meant only for men, and has become the country’s first officially-registered female surf club. The club’s president, Shamali Sanjaya is a 30-year-old mother from Arugam Bay. She organises beach cleanups and…
The tourism sector in Sri Lanka is a cornerstone for the Sri Lanka economy, generating significant foreign exchange earnings and propelling the country’s financial stability. However, a rising concern among industry stakeholders has surfaced as foreign tourists increasingly partake in business ventures, a move seen to be at odds with existing tourism laws. Despite the…
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…
The prestigious spotlight of international finance has once again turned to Sri Lanka, illuminating the impressive strides made by the Commercial Bank of Ceylon in 2023. In a remarkable feat that underscores its unyielding commitment to progress and adaptability, ComBank seized not one, but two distinguished accolades: ‘Best SME Bank’ and ‘Most Innovative Digital Bank’…
Japan’s support for Sri Lanka has been a beacon of hope as the island nation navigates its path through the most daunting financial crisis since independence. Recent talks between Japan’s Finance Minister, Suzuki Shunichi, and Sri Lankan President, Ranil Wickremesinghe, have shed light on the promising trajectory of Sri Lanka’s advancements in economic recovery. The…
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…
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…
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…
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…
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….
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 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…
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….
Amidst the azure waters of the Indian Ocean, Sri Lanka’s ambitious urban development, Port City Colombo, emerges as a beacon of Sri Lankan economic development. With an injection of US $5.6 billion projected in foreign direct investment, this icon of innovation stands poised to redefine the island’s economic landscape. Touted as a service export Special…
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…
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…
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…
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…