FAO to establish € 6.5 mn food safety system in SL via EU-funded BESPA-FOOD project

The Food and Agriculture Organization of the United Nations (FAO) through the European Union (EU)-funded BESPA-FOOD (Best Standardized Practices for the Agri-Food Sector) project will support the government to establish a well-coordinated food safety system in the country.

Unruly air passenger incidents on the rise: IATA

A new analysis by International Air Transport Association (IATA) released this week showed that post-pandemic, unruly passenger incidents are on the rise.

Economy shows signs of improvement but recovery remains a challenge: IMF DMD

Sri Lanka’s economy is showing tentative signs of improvement, due to the implementation of critical policy actions, acknowledged visiting senior International Monetary Fund (IMF) official but noted recovery remains challenging.

Improved supply of imported goods expected as govt. looks to ease restrictions

Sri Lanka will see a further improvement in the supply of goods from the global market as early as next week, with the government announcing plans to ease the currently prevailing import restrictions.

Tea Auction prices decline further this week as rupee strengthens

The Colombo Tea Auction this week saw the prices for almost all the categories decline further, as the Sri Lankan rupee strengthened.

Macy’s and Costco sound a warning about US economy

CNN: Macy’s, Costco and other big chains say shoppers are pulling back at their stores and changing what they buy. That could be a red flag for the US economy.

Hela Apparel Holdings completes FY 2022/23 with resilience amidst challenging operating environment

The fourth quarter of FY 2022/23 marked the close of a challenging year for Hela Apparel Holdings PLC.

Top ME influencer in SL

Leading social media influencer Khalid Al Ameri, who is based in the Middle East, yesterday announced his visit to Sri Lanka.

China says always stands by SL’s sovereignty, political independence and socioeconomic development

China this week reiterated its commitment to Sri Lanka, stating it would always stand by Sri Lanka’s sovereignty as well as for political independence and socioeconomic development.

Vidullanka reports Rs.913mn PAT for FY 2022/23

Vidullanka PLC reported a profit after tax (PAT) of Rs.913 million for the financial year ended on March 31, 2023, as per the latest interim financials published in the Colombo Stock Exchange.

Central Bank shifts gears to growth with surprise policy rate cut

The Central Bank yesterday delivered a surprise policy rate cut, bringing nearly two years long tightening cycle to a close and left open the door for further rate cuts in the next few months among other measures to ease remaining restrictions on imports to reverse the prolonged economic contraction.

Govt. to introduce ‘Lab methodology’ to promote investments and implement biz proposals

Ranil Wickremesinghe Sri Lanka will introduce a new system called ‘Lab methodology’ to promote investments ensuring effective implementation of business proposals, President Ranil Wickremesinghe said in his televised address to the nation yesterday.

Govt. issues fresh gazette aiming to widen tax net

The government in a fresh gazette yesterday specified additional classes of persons required to register with the Inland Revenue Department (IRD), which is an attempt to broaden the country’s taxpayer base.

NSB presents Annual Report 2022 to President

The Annual Report of National Savings Bank (NSB) for the year 2022

SJB trade union seeks court intervention for SLT privatisation blue-print

‘Samagi Sewaka Sangamaya’, a trade union attached to the ‘Samgi Jana Balawegaya’ (SJB) political party, has filed a Fundamental Rights petition seeking Supreme Court’s intervention in regularising the proposed privatisation of Sri Lanka Telecom (SLT).

SLT-Mobitel unveils technologically advanced operational HQ in Welikada

SLT-Mobitel recently unveiled its technologically advanced, high-tech operational green headquarters, first in the history of SLT, located at Welikada, Colombo.

Monthly tourist arrivals fall below 100, 000 for first time this year

Tourist arrivals to Sri Lanka fell below the 100,000 mark for the first time this year due to the drop in momentum in the month of May,

Every Canadian cigarette will soon carry a health warning

BBC: Canada will soon print warning labels directly on cigarettes in a world-first, the country’s health agency announced.

Tourist arrivals fall below 100,000 for first time in 2023

Tourist arrivals to Sri Lanka fell below the 100,000 mark for the first time this year, with the month of May welcoming a total of 83, 309 international visitors.

Monetary Board relaxes policy interest rates

The Monetary Board of the Central Bank relaxes policy interest rates by 250 basis points. Accordingly, SDFR comes down to 13 percent and SLFR to 14 percent.

Colombo inflation eases to 25.2% in May

Headline inflation in Colombo district measured by Colombo Consumer Price Index (CCPI) decelerated to 25.2 percent in May from 35.3 percent in April largely owing to higher base effects in last year.

EDB to host ‘Open Day’ to encourage exports

The Export Development Board (EDB) will host an ‘Open Day’ event in mid-June, an effort towards providing businesses a platform to explore the opportunities and avenues to cater to the international market.

Food security seen improving, but prevalent within specific regions in SL: FAO

Food security in Sri Lanka is improving across all provinces, but is still prevalent within specific regions, the Crop and Food Security Assessment Mission (CFSAM) report revealed.

Prez asserts importance of Japanese investments for SL’s revival

President Ranil Wickremesinghe yesterday highlighted the importance of Japanese investments to push the revival of Sri Lanka while affirming commitment to stabilising and liberalising the economy and actively inviting new foreign ventures.

Fresh focus on Ceylon Tea in Tehran on International Tea Day 2023

Ceylon Tea came under fresh focus in Tehran recently, with the Sri Lankan Embassy promoting the premium product to locals on International Tea Day 2023, May 21.

ILO, CBSL join hands to create favourable ecosystem in SL for entrepreneurs

In an attempt to promote entrepreneurship among the youth of Sri Lanka, the International Labour Organisation (ILO) collaborated with the Central Bank of Sri Lanka this week to explore avenues that would help create a favourable ecosystem to build new businesses.

British Airways cancels dozens of Heathrow flights after IT problem

BBC: There has been a second day of disruption for travellers at Heathrow after British Airways cancelled at least 42 more short-haul flights following Thursday’s IT problems.

Build SL Expo 2023 puts construction sector under fresh spotlight

Construction and housing expo Build Sri Lanka 2023 kicked off yesterday at the BMICH, showcasing the latest development in the industry.

Ratnapura kithul reaches shelves of international market

The kithul industry in the Ratnapura district has developed into a high income generating industry by the Agriculture Ministry, with several product categories successfully reaching the shelves of international markets.

High volume, low quality, currency instability contribute to declining market at this week’s tea auction

The offerings at the Colombo Tea Auction totalled 7.1 MnKgs, similar to that of last week and were met with fair demand at easier rates.