National Chamber ‘Foreign Exchange Act and New Changes’ seminar tomorrow

The National Chamber of Commerce of Sri Lanka, with the Foreign Exchange Department (Central Bank of Sri Lanka), will hold a half-day seminar on the Foreign Exchange Act and new changes....

Ranil meets with US Treasury Secretary and IMF Chief in Paris

President Ranil Wickremesinghe met with US Treasury Secretary Janet Yellen this week, where he provided an update on the efforts taken towards the revival of the national economy.

Zambia’s US $ 6.3bn debt restructuring deal brings hope for indebted nations

BBC: Zambia’s President Hakainde Hichilema can finally breathe a sigh of relief as the outlines of a deal aimed at lifting his country out of its debt crisis have been unveiled.

President stresses need for improved interaction in debt restructuring process

As Sri Lanka is looking to firm up the debt restructuring process, President Ranil Wickremesinghe said there needs to be “some improvement” in the interaction between the committee and debtors.

JPMorgan fined US $ 4m for deleting 47mn emails including some requested in subpoenas

CNN: The Securities and Exchange Commission fined JPMorgan Chase US $ 4 million for mistakenly deleting 47 million emails, many of which the regulator was trying to access as part of multiple probes.

Tea prices at Colombo Auction continue to experience “rollercoaster ride”: Brokers

The tea prices at the Colombo Tea Auction continued to experience a rollercoaster ride, in the backdrop of the instability in the currency, the tea brokers said.

CSE Mobile app crosses 300,000 downloads

The Colombo Stock Exchange (CSE) Mobile app has exceeded 300,000 downloads, with a turnover contribution of Rs.135 billion since its inception in 2020.

Tea-for-oil barter between SL and Iran to kick off in July

Sri Lanka will start bartering with Iran, starting next month, in an effort to settle the US $ 250 million owed for oil, a Reuters report shared.

JAAF dismayed by zero revisions made to industrial electricity tariff

Sri Lanka’s apparel sector, the largest foreign exchange earner and a key contributor to the debt-ridden economy, yesterday said it is “dismayed” by the zero revisions made to industrial electricity tariff rates by the Ceylon Electricity Board (CEB), despite having the allowance.

IMM Consults Celebrates Another Successful Year in Immigration Consulting Services

IMM Consults, a leading immigration consultancy firm, based in Dubai, Colombo and Pune India, is thrilled to celebrate the completion of another successful year full of opportunities and achievements in the field of immigration. With a track record of success and a commitment to excellence

Stitching setback: May apparel export earnings down 14%

The declining trend in apparel exports from Sri Lanka amid demand slowdown in key markets extended to the month of May, as earnings from such exports fell 14.17 percent year-on-year (YoY) to US$ 383.17 million.

Sri Lanka now plans to finalise debt restructuring after September

Sri Lanka expects to finalise the debt restructuring talks after September this year, according to President Ranil Wickremesinghe, who said the primary focus would be on rolling out long-delayed structural reforms to return to the growth trajectory in 2024 with enhanced long-term prospects.

CSE to conduct full day of trading from the Disaster Recovery site today

The Colombo Stock Exchange (CSE) will conduct a planned full day of trading from the Disaster Recovery site using Automated Trading System Disaster Recovery Solution today.

Abans appoints Rusi Pestonjee as MD

Abans PLC yesterday announced the appointment of Rusi Pestonjee as the Managing Director of the company with effect from June 21, 2023.

Free Trade Zone manufacturers perturbed by SVAT termination move

The Free Trade Zone Manufactures’ Association (FTZMA) yesterday expressed its concerns regarding the government’s decision to abolish the paperless Simplified Value Added Tax (SVAT) scheme.

Lab-grown meat cleared for sale in the United States

CNN: Cultivated meat, also known as lab-grown meat, has been cleared for sale in the United States.

DP Aviation to operate domestic flights between Ratmalana and Jaffna

DP Aviation is set to commence domestic services with the operation of flights to Jaffna from July 1.

CCC-ICLP International Alternative Dispute Resolution Centre opens at WTC

The CCC-ICLP International ADR Centre (Guarantee) Limited, a joint venture initiative of the Ceylon Chamber of Commerce (CCC) and the Institute for the Development of Commercial Law and Practice (ICLP) opened its ADR Centre at the World Trade Centre, Colombo.

WTTC and UNWTO ink historic MoU to uplift global tourism

For the first time in history, two of the world’s leading travel & tourism organisations representing the global public and private sectors have agreed to work together across a number of key objectives.

Risk-taking in securities market – Safeguards under SEC Act

As the Sri Lankan economy is under financial stress at present and has entered into a programme with the International Monetary Fund (IMF), it is necessary to take stock of the measures that have to be taken to unlock the potential of foreign income flows into the country.

PGP Glass Ceylon with Heineken Lanka launches Heineken’s 1st screen-printed, returnable glass bottle in APAC

PGP Glass Ceylon PLC, the sole manufacturer of glass bottles for food and beverages in Sri Lanka and Heineken Lanka Limited, a wholly-owned subsidiary of Heineken N.V., recently launched the 625ml reusable bottle, incorporating screen printing technology.

LankaPay unveils new strategic direction to boost regional presence

LankaPay, the national payment network of Sri Lanka, has embarked on a new strategic vision, aimed at reinforcing its position within the region and enhancing its contribution to the island nation.

Why digital economy is crucial for Sri Lanka’s economic growth

The global digital economy is poised for significant growth and transformation in the coming years. With technology advancements and increasing connectivity, the digital economy has become a vital driver of global economic activity

Agrithmics rebrands as Cultive8; raises US $ 1.75mn in funding

A leader in Sri Lanka’s agritech field, Agrithmics (Pvt.) Ltd has rebranded its global corporate identity as Cultive8 Technologies, to facilitate its long-term expansion strategy that will see it go beyond Sri Lanka, into South Asia and South East Asia. This also follows Agrithmics recently raising Pre-Series A Funding, valued at US $ 1.75 million, from BRAC Osiris Impact Ventures, leading to its post-money valuation of US $ 8.25 million.

CEAT Kelani unveils new locally made truck bus radial for transport sector

A new high-performance premium commercial vehicle tyre has begun rolling off the production line at CEAT Kelani Holdings, Sri Lanka’s largest manufacturer of pneumatic tyres.

WTTC and UNWTO ink historic MoU to uplift global tourism

For the first time in history, two of the world’s leading travel & tourism organisations representing the global public and private sectors have agreed to work together across a number of key objectives.

WB urges SL to develop social protection system that serves its poor

Given that half of the population living in poverty in Sri Lanka is not covered by social protection schemes, the World Bank stressed it is essential to have increased transparency, inclusion, adaptability and accountability mechanisms to ensure the establishment of an improved welfare system. “As Sri Lanka works to recover and reset from its worst economic crisis in decades, now is the time to turn crisis into an opportunity to build a resilient

National consumer prices fall sharply in May to 22.1% on base effects

Sri Lanka’s country-wide consumer prices, measured by the National Consumer Price Index (NCPI), fell sharply to 22.1 percent in the 12 months to May 2023, easing from 33.6 percent in the period through April, the data released by the Census and Statistics Department showed. The prices m

Expolanka digital transportation solutions subsidiary expands to Indonesia

Expolanka Holdings PLC’s fully-owned subsidiary Oki Doki, which is known for its digital transportation solutions, has expanded its footprint with the launch of its operations in Jakarta, Indonesia, early this month. The event witnesse

Air Seychelles makes inaugural flight to Sri Lanka

Sri Lanka Tourism welcomed the inaugural flight Air Seychelles from the Seychelles to Colombo yesterday, carrying 110 passengers. This fl