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Sat, 18 May 2024 Today's Paper
1 hours ago - 0 - 9
The International Monetary Fund (IMF) this week commended the progress achieved by Sri Lanka thus far in rolling out the economic reforms, the majority of which have been rather painful to the general public.
17 May 2024 - 0 - 175
Despite the significant surge in adoption of digital payment in 2023, Sri Lanka is yet to reach inflection point in digital transformation as the economy still remains largely a cash-based, industry stakeholders said. In 2023, the number of dig
16 May 2024 - 11 - 7155
The Sri Lankan rupee is likely to depreciate in the range of Rs.310-320 against the US dollar in the latter part of the year, First Capital Research (FCR) said.
15 May 2024 - 2 - 806
In line with the objectives to foster a deeper and more liquid foreign exchange market and develop adequate systems for managing exchange rate risks, the Central Bank (CB) plans to implement the FX Global Code (FXGC) in the domestic forex market by the end of this year.
14 May 2024 - 15 - 4968
The Central Bank emphasised the importance of businesses in Sri Lanka understanding the current exchange rate system.
11 May 2024 - 16 - 2975
Sri Lanka will see the addition of automobile assembly plants, as four are set to begin operations within the next three months and another 11 have been registered by the Industries Ministry.
10 May 2024 - 0 - 130
The logistics sector has raised concerns over delaying tactics, as that could hinder the full adoption of the ASYCUDA World and ASYHU8S System. These systems aim to transition from cumbersome, paper-based processes to streamlin
09 May 2024 - 0 - 214
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 address the challenges faced.
08 May 2024 - 12 - 1368
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 - 1290
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 - 308
The Colombo Stock Exchange (CSE) remains bullish on adding 10 new equity listings to the exchange by end ....
04 May 2024 - 13 - 1529
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 - 1370
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 - 1287
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 - 3374
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 - 1095
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 - 527
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 - 1665
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 - 469
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 - 38
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 - 143
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 - 1188
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 - 642
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 - 2559
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 - 72
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 - 986
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 - 1069
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 - 372
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 - 3285
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 - 1433
Extending the growth momentum, the international tourist arrivals to Sri Lanka crossed the 50,000 mark during the first nine days of April.
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