Three investment agreements worth US $ 2.1 billion are due to be signed today in Hambantota concurrent to the Commonwealth Heads of Government Meeting (CHOGM) events taking place in the city.
The Central Bank (CB) yesterday kept the policy rates on hold for the month of November, providing a breather to the recent monetary easing to take effect during the next few months.
Investment Promotion Minister Lakshman Yapa Abeywardena yesterday inspected the Invest Sri Lanka Pavilion at Cinnamon Grand Hotel.
Sri Lanka and Bangladesh will begin formulating a preferential trade agreement (PTA) between the two countries subsequent to the completion of the Commonwealth Heads of Government Meeting (CHOGM), with a view to developing into a free-trade agreement (FTA) in future, according to Bangladesh High Commissioner to Sri Lanka Mohammad S. Rahman.
World Travel Market (WTM), the leading Travel and Tourism Trade event in the world is scheduled to kick off on November 4, at the London’s, Excel Exhibition Hall.
Sri Lanka’s cost of living rose 6.7 percent in October from a year earlier, accelerating from 6.2 percent in September, according to the Department of Census and Statistics data.
The single biggest threat the Sri Lankan hospitality industry may face will be the lack of trained staff, The Hotels Association of Sri Lanka (THASL) President Jayantissa Kehelpannala said during the association’s Annual General Meeting held this week.
Sri Lanka has fallen four places down the World Bank's latest list of best places to run a business. In the latest World Bank's Doing Business Index, Sri Lanka has been ranked 84, down from 81st place it enjoyed in the 2013 Doing Business Index
An open society with equal access to opportunities and a respect for individual freedoms is a vital prerequisite for high-level economic growth, according to New Zealand’s former Finance Minister, Ruth Richardson.
Sri Lanka’s lubricant consumption in 2012 has declined by as much as 2,220 kilolitres (or 3.8 percent) to 56,334 kilolitres from a year ago, according to lubricant market shadow regulator, the Public Utilities Commission of Sri Lanka (PUCSL).
Sri Lanka is the only twin-deficit country in Asia having a growth unaffected by currency volatility, according to Fitch Ratings (Fitch).
The Sri Lankan rupee, which hit a record low at the end August, is under appreciation pressure and the Central Bank has been intervening to curb a sharp rise, the Central Bank Governor said yesterday.
Sri Lanka’s investment promotion bureau, the Board of Investment (BoI), said it would expect at least US $ 2.0 billion worth of foreign direct investments (FDIs) in 2014 from the Commonwealth Heads of Gover nment Meeting (CHOGM) alone.
Cairn India is currently in discussions with the Sri Lankan government to commercialize the Dorado well in the Mannar Basin, probably including a pipeline from the well to Norochcholai.
Satellite imaging technology has several potential public sector applications that could help the development process of any country, according to India’s National Remote Sensing Centre Deputy Director Dr. P.G. Diwakar.
Local pharmaceutical manufacturer, Lina Manufacturing Private Limited, a subsidiary of Akbar Brothers, has offered to manufacture respiratory care products for the Indian multinational pharmaceutical giant, Ranbaxy Laboratories Limited, under a licencing agreement, according to a top official.
Sri Lanka’s trade deficit in August contracted 24.2 percent amid earnings from exports rising 10.7 percent year-on-year (YoY) to US $ 917.8 million. The import expenditure during the month fell 7.7 percent to US $ 1.61 billion.
International Finance Corporation (IFC), a member of t he World Bank Group, has invested US $ 136 million in Sri Lanka in the fiscal year 2013 to promote inclusive growth and job creation, the organisation said in a statement yesterday .
The Sri Lanka Tea Board will be releasing part of its Rs.3.5 billion marketing cess fund in order to launch an aggressive promotional campaign for Ceylon tea in key markets, according to Plantations Minister Mahinda Samarasinghe.
Amidst calls by various quarters to hold on to the current monetary policy stance due to possible inflationary fears, the Central Bank (CB) surprisingly cut its key policy rates by 50 basis points (bps) yesterday.
Amendments to Sri Lanka’s electricity tariff structure and labour laws are being sought by Sri Lankan apparel exporters in order to facilitate apparel manufacture by lowering cost of production.
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