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Thu, 09 May 2024 Today's Paper
2 hours ago - 0 - 15
The senior representatives of Sri Lanka’s key export sector came on to one platform this week to shed light on their list of woes, which only seems to be getting longer, with little being done to addressing the challenges faced. Coming together, six associations: the Exporters Association of Sri Lanka, Joint Apparel Association Forum of Sri Lanka (JAAF), Tea Exporters Association (TEA), Sri Lanka Association of Manufacturers and Exporters of Rubb
08 May 2024 - 10 - 1221
Sri Lanka’s gross official reserves have continued to increase through the end of April topping the US$ 5.0 billion level for the first time since December 2020 when the country was coming out of the second wave of the virus outbreak.
07 May 2024 - 18 - 1201
VFS Global, which is currently facing a backlash, vows to boost Sri Lanka’s global image through a robust marketing plan with Sri Lanka Tourism. However, the details remain under wraps from the tourism authorities, Mirror Business learns.
06 May 2024 - 0 - 289
The Colombo Stock Exchange (CSE) remains bullish on adding 10 new equity listings to the exchange by end ....
04 May 2024 - 13 - 1470
The highly debated Minimum Room Rate (MRR), which has the tourism industry divided, would be removed the end of this month, Tourism Minister Harin Fernando confirmed.
03 May 2024 - 21 - 1349
The Planters’ Association (PA) of Ceylon representing Regional Plantation Companies (RPC) is moving ahead to object to the Rs.1700 daily wage increase proposed for plantation workers, while asserting that a final decision is yet to be reached on the matter.
02 May 2024 - 3 - 1270
The growth in exports in March outstripped the increase in the expenditure for merchandise imports for the same month, as the exports of textiles and garments showed strength once again, after losing a bit of steam in the recent months.
01 May 2024 - 24 - 3324
Tourism Minister Harin Fernando has pledged to address technical issues of the new visa system by May 7. This comes amid concerns of potential losses of 230,000 tourist arrivals and US$ 425 million in tourism earnings for the year.
30 Apr 2024 - 13 - 1082
The financial knowledge of Sri Lankans is at satisfactory levels when compared with the other countries but the island nation is lagging behind financial behaviour, the financial sector regulator, the Central Bank said.
29 Apr 2024 - 6 - 516
The Central Bank of Sri Lanka sounded optimistic about Sri Lanka witnessing stability on multiple fronts, provided that the ongoing ambitious reforms and economic adjustments underpinned by the Extended Fund Facility (EFF) programme of the International Monetary Fund (IMF) continue without any interruptions.
27 Apr 2024 - 16 - 1650
The government has been sitting on an expert committee report on how to permit oil palm cultivation in identified Mahaweli areas and other areas, without deciding for nearly five months. According to the Agriculture and Plantation Industries Ministry, the ministry forwarded the report to the secretary to the Cabinet of Ministers on January 12. In November 2022, the Cabinet of Ministers decided to appoint an expert committee to explore the possibi
26 Apr 2024 - 0 - 449
As a testament to Sri Lanka’s comeback in tourism and returning investor confidence, India’s luxury hotel giant yesterday launched its first ever international venture, US$ 500 million investment ITC Ratnadipa in the iconic Colombo
26 Apr 2024 - 0 - 33
Central Bank Governor Dr. P Nandalal Weerasinghe yesterday presented its Annual Economic Review 2023 and Financial Statements and Operations to President Ranil Wickremesinghe, who’s also the Minister of Finance, Economic Stabilisation and National Policies.
25 Apr 2024 - 0 - 141
Sri Lanka’s apparel sector is witnessing a resurgence of interest, as brands reassess their purchasing strategies and are on the lookout for safe and secure homes to place their orders. The Joint Apparel Association Forum (JAAF) shared that the apparel manufacturers have had several high-profile visits from brands, as buyers are returning to the country to meet with the suppliers and to work on long-range plans with their suppliers. “This augurs
24 Apr 2024 - 6 - 1174
A top economist yesterday raised concerns over the “loosening of fiscal squeeze” by authorities to stimulate economic growth. Since doing so could lead to potential risks of jeopardising Sri Lanka’s agreements with the International Monetary Fund (IMF).
23 Apr 2024 - 7 - 629
The consumer prices measured by the broader National Consumer Price Index (NCPI) continued to soften in March, as the non-food prices cooled sharply while the food prices remained unchanged from a year ago.
22 Apr 2024 - 10 - 2547
The often watched market lending rate, which guides the rest of the rates on loans to small businesses to mortgages to consumers, touched a two-year low last week continuing its descent.
20 Apr 2024 - 0 - 67
The International Monetary Fund (IMF) this week commended Sri Lanka for going forward and being successful to a great extent to implement the “ambitious” programme; however, it cautioned that the road ahead is till bumpy. IMF Director Asia and Pacific Department Krishna Srinivasan asserted that the programme is bearing fruit. When Sri Lanka embarked on this adjustment programme, it had its back to the wall but now signs of early recovery are see
19 Apr 2024 - 7 - 976
Possible delays in reaching an agreement (in principle) with private bondholders is unlikely to impact the disbursement of the third tranche under IMF’s US$ 3billion bailout package, given negotiations are moving ahead in good faith, Former Governor of Central Bank (CB) and renowned economist, Dr. Indrajit Coomaraswamy said.
18 Apr 2024 - 1 - 1048
The mounting tensions in the Middle East that are becoming increasingly unpredictable are likely to impact the Ceylon Tea cuppa, the industry stakeholders said, especially since over 50 percent of the island nation’s tea is exported to that region.
17 Apr 2024 - 0 - 365
Economists yesterday cautioned that Sri Lanka failing to reach an agreement with its bondholders on restructuring terms within the set deadline....
16 Apr 2024 - 12 - 3265
Sri Lanka’s celebrity chocolatier, chef and agriculture enthusiast Gerard Mendis faces an uphill battle in his bid to take single-origin Sri Lankan chocolates global. This is primarily due to the shortage of cocoa beans and absence of active cooperation of authorities.
11 Apr 2024 - 4 - 1426
Extending the growth momentum, the international tourist arrivals to Sri Lanka crossed the 50,000 mark during the first nine days of April.
10 Apr 2024 - 1 - 1581
Sri Lanka’s labour force participation rate hit a new low in 2023, the recently published Labour Force Survey (LFS) annual bulletin highlighted.
09 Apr 2024 - 2 - 1190
The Small Medium Modern Trade (SMMT) outlets are rapidly capturing the attention of Sri Lanka’s middle class, with the traditional retailers swiftly adapting to this shifting retail landscape.
08 Apr 2024 - 7 - 1052
Sri Lanka’s tourism sector is expecting a multiplier effect across all key source markets following United Kingdom’s recent update on the travel advisory for Sri Lanka, which will immediately result in a significant boost in tourist arrivals in the upcoming summer season.
06 Apr 2024 - 4 - 3061
Sri Lanka climbed two spots in the latest United Nations Conference on Trade and Development’s (UNCATD) Liner Shipping Connectivity Index (LSCI), becoming the 22nd best connected country in the world.
05 Apr 2024 - 3 - 646
It is essential for the reforms planned for the government owned entities to go ahead without further disruptions, else it is the general public that will continue to take on the burden, State Owned Enterprises Restructuring Unit (SOERU) Head Suresh Shah said.
04 Apr 2024 - 0 - 95
The Asian Development Bank (ADB) yesterday pledged its support to help Sri Lanka steer through the ongoing reform process; however, it noted that there needs to be “realistic expectations”. Acknowledging that Sri Lanka is at the initial stages of implementing challenging reforms within a tight time-frame, the ADB emphasised the need for a more sustainable approach to their implementation. “There needs to be a realistic expect
03 Apr 2024 - 7 - 476
As Sri Lanka is looking to leave behind the effects of the crisis and move towards development, sustained reform implementation is essential for Sri Lanka to have a stronger and more resilient economy, the World Bank said yesterday.
08 May 2024