IMF to review SL’s economic progress next week

A delegation from the International Monetary Fund (IMF) is scheduled to visit Sri Lanka next week to assess the country’s economic progress.

Global economy in sticky spot: IMF

The International Monetary Fund (IMF) projects global growth to be in line with the April 2024 World Economic Outlook (WEO) forecast, at 3.2 percent in 2024 and 3.3 percent in 2025.

Island-wide canteens, restaurants to lower food prices tonight

All Island Canteen and Restaurant Owners’ Association (AICROA) today said the food prices will be lowered from tonight following the recent electricity tariff revision.

Thailand allows visa-free entry for Sri Lankans from tomorrow

Thailand will allow visa-free entry for travellers from 93 countries and territories, including Sri Lanka from tomorrow (July 15).

Over 5,000 containers stuck due to Customs strike to be released this weekend

An urgent plan has been prepared to clear over 5,000 containers stuck due to the Customs strike and will be released by this weekend, Finance State Minister Ranjith Siambalapitiya said.

Decision on vehicle imports in second week of August

The final decision on lifting the ban on vehicle imports will be made by the second week of August, Finance State Minister Ranjith Siambalapitiya said.

Govt. to assess estate companies’ ability to pay new wages

The plantation companies that have been avoiding the recently approved Rs.1,700 daily wage for the workers will soon have to justify their stance.

Tourist arrivals pick up pace in July

Sri Lanka welcomed over 43,000 international visitors in the first week of July, a significant pickup in the tourist inflow rate from last month.

No change in Laugfs gas prices

Laugfs Gas PLC today announced that no price revisions on its domestic LP gas will take place in line with the recent fuel price revision.

Tariff rates for roof top solar revised

The Cabinet of Ministers has approved new tariff rates for rooftop solar and other renewable energy projects.

Sri Lanka to launch Octane 100 petrol today

Sri Lanka is to launch 100 Octane premium petrol, known as XP100 rating fuel, which helps enhance the performance of vehicles, particularly high-end luxury cars and bikes.

Litro gas prices reduced from today

The price of a 12.5 kg cylinder of Litro domestic LP gas will be reduced by Rs.100 from midnight today, Litro Gas said.

Fuel prices reduced from tonight

The Ceylon Petroleum Corporation (CPC) has reduced its fuel prices with effect from tonight.

Exports of illegal metal, iron, related equipment, scrap prohibited

Efforts are underway to prohibit the illegal export of metal, iron, related equipment and scrap from the country. All metal exports must receive approval from the Ministry of Industry, Finance State Minister Ranjith Siyambalapitiya said.

AI to boost global banking profits by US $ 170 bn in 5 years

Artificial Intellingence (AI) is set to drive global banking sector profits up by US $ 170 billion by 2028, a new report by Citi Group has found.

BIA ’Gold Route’ expected to exceed 2,500 passengers by end 2024: AASL

While achieving a significant growth and revenue milestones by providing a premium airport experience for passengers travelling through the Bandaranaike International Airport (BIA), the Airport and Aviation Services (Sri Lanka) (Pvt) Limited (AASL) said the total number of passengers using the ’Gold Route’ fast track service is expected to exceed 2,500 by the end of 2024.

Asian telecom giant EDOTCO Group meets BOI

Asian telecom giant EDOTCO Group, represented by its Director for Governance, Risk and Compliance Azzahraa Annuar recently visited the Board of Investment (BOI) of Sri Lanka.

SL’s FIU and FINC-Bahrain ink MoU to exchange financial intelligence

The Financial Intelligence Unit of Sri Lanka (FIU-Sri Lanka) entered into a memorandum of understanding (MoU) with the Financial Intelligence National Centre of the Kingdom of Bahrain (FINC-Bahrain), to exchange financial intelligence related to money laundering (ML) and associated predicate offences and in relation to terrorist financing (TF) offences.

Nvidia dethrones Microsoft to become the world’s most valuable company

Chip-maker Nvidia dethroned fellow tech giant Microsoft to become the world’s most valuable company after its share prices surged to an all-time high, Tuesday.

CCD and Honda crack down on counterfeit spare parts

In a collaborated effort to combat the distribution of counterfeit spare parts, the Colombo Crime Division (CCD) and the Honda Motor Company initiated multiple criminal raids in different areas of the country.

PUSCL seeks public input on electricity tariff revision

The Public Utilities Commission of Sri Lanka (PUCSL) has has called for public opinions regarding the revision of the 2nd round of electricity tariff reductions, proposed by the Ceylon Electricity Board (CEB) for 2024.

FIU and bribery commission sign MoU to combat finance crimes

In a collaborative effort to prevent financial crimes in the country, the Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MoU) with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), today.

IMF approval paves way for stronger policies, sustainable growth: Semasinghe

The approval of the IMF’s second review for Sri Lanka will pave the way for stronger policies and sustainable growth, said State Minister of Finance Shehan Semasinghe.

IMF allows authorities to draw US$ 336 mn following second review completion

The Intentional Monetary Fund (IMF) announced the completion of the second review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the Sri Lanka to draw SDR 254 million (about US$336 million).

Sri Lanka to kick off relevant negotiations for FTA with Malaysia

Sri Lanka will be able to further strengthen its ties with Malaysia, with the Cabinet of Ministers this week giving the nod to commence the negotiations for a free trade agreement (FTA) between the two countries.

Optimistic about favourable IMF review outcome: Semasinghe

Sri Lanka is optimistic about a favourable outcome from the International Monetary Fund’s (IMF) second review, under the Extended Fund Facility (EFF), State Minister of Finance Shehan Semasinghe said.

Expolanka Holdings announces 'final extension’ to exit offer

Expolanka Holdings announced its decisions to extend the exit offer till 4.30pm on Thursday, 13 June 2024.

United Petroleum Australia to begin Sri Lanka operations by August

United Petroleum Australia, which has entered Sri Lanka’s petroleum retail market, will start their operations by the end of July or beginning of August this year, taking over 150 existing fuel stations and building over 50 new stations, Director of United Petroleum Lanka Private Limited in Sri Lanka Dr. Prabhat Samarasinghe said.

Constitutionality of Economic Transformation Bill challenged in SC

A Special Determination petition has been filed in the Supreme Court challenging the constitutionality of the Economic Transformation Bill, which was recently published in the Government Gazette.

Sri Lankan High Commission opens center to promote FDI’s in UK

The Sri Lankan High Commission in the United Kingdom has set up a center in its premises to promote direct foreign investments (FDI’s) into Sri Lanka.