IDD rate hike approved by TRCSL

International calling charges have been increased in Sri Lanka due to the floating of the Rupee.

President announces decision to work with IMF

Addressing the nation, President Gotabaya Rajapaksa today announced his decision to work with the International Monetary Fund (IMF) to explore a sustainable solution for the country to repay its foreign debt and build back its foreign reserves.

Economic Council to be assisted by 14–member advisory committee

The newly appointed 11-member Economic Council has been given a 14-member advisory committee for assistance.

Cabinet nod for nine-member Economic Council

The establishment of an Economic Council comprising of nine members received the Cabinet nod today.

Incentive for workers’ remittances increased to Rs.38

As the national economy is desperate for foreign exchange inflows, the Cabinet of Ministers today announced their decision to increase the incentive offered for foreign remittances.

SriLankan Airlines partners with Manta Air

National carrier SriLankan Airlines announced its partnership with Manta Air today, a move which will connect passengers from Gan International Airport to Koodhdhoo City in Gaafu Alifu Atoll of Southern Maldives.

KPMG,PwC to exit Russia

Accounting firms KPMG and PricewaterhouseCoopers LLP (PwC) announced this Sunday their decision to exit Russia due its move to invade Ukraine.

Public help sought to identify parties engaged in unauthorized forex dealings

The Central Bank of Sri Lanka (CBSL) called on for public help to identify those carrying out unauthorized foreign currency dealings.

Trading halted for second consecutive day

Trading at the Colombo Stock Exchange was halted for the second consecutive day today for 30 minutes as the S&P SL20 Index declined by 5 percent from the previous session.

SL to ink MoU with US Dept. of Agriculture to boost milk production

Sri Lanka will enter into a Memorandum of Understanding (MoU) with the United States (US) to improve the local capacity of milk production.

Govt. looking for investors re-open clay factory

Efforts are underway to initiate the manufacturing of clay related products at the We-Uda factory located at Kurunegala for which the government is on the lookout for potential investors.

G20 not sensitive to emerging market issues

Reflecting the sentiments of Bank Indonesia Governor Perry Warjiyo, Central Bank of Sri Lanka (CBSL) Ajith Nivard Cabraal asserted that the G20 intergovernmental forum is not sensitive as it should be towards the issues faced by emerging nations.

Banks to face continued asset quality pressures in 2022: Fitch

Rating agency Fitch in its latest commentary said local banks are expected to face continued asset quality pressures in 2022.

Meta sued for storing biometric identifiers

Facebook parent company Meta is being sued by the Texas attorney general for “storing millions of biometric identifiers’’.

COPE summons several institutions

Several institutions have been summoned by the COPE committee for the month of February and March, including state banks and the apex state body promoting exports.

EU pledge support to boost SL wellness tourism

The EU delegation to Sri Lanka has pledged its support to strengthen the capacity of wellness tourism in the country, which will allow the industry to bounce back faster towards recovery.

5.4 MnKg under the hammer at tea auction this week

A total of 5.4 MnKg of tea came under the hammer at the Colombo Tea Auction this week, a decline of 1.2 MnKg from last week’s offering.

Technical issue allows extended trading time at CSE

Trading at the Colombo bourse went on for additional nine minutes today due to a technical issue, the Colombo Stock Exchange (CSE) said.

Exclusive wedding expo coming up next weekend

The Brides of Sri Lanka magazine together with the Galle Face Hotel will host an exclusive wedding exhibition next weekend.

CBSL launches ‘Lanka Remit’

The Central Bank of Sri Lanka (CBSL) launched today the National Remittance Mobile Application ‘Lanka Remit’.

FAO Food Price Index in Jan up 1.1% from Dec. 2021

The FAO Food Price Index (FFPI) expanded by 1.5 points in January 2022 from December 2021, averaging 135.7 points.

No light at the end of the tunnel for global logistics till 1H22

The challenges faced in the global logistics sector in 2021 likely to spill over to 2022 as well, while pressure on global supply chains is expected to continue.

Cabraal says IMF advice is for technical assistance programme, nothing more

Central Bank Governor Ajith Nivard Cabraal was quick to set the record straight with regard to Sri Lanka’s intention to reach out to the International Monetary Fund (IMF) for assistance.

Global travel sector to fully recover only after 2024: WEF

The global travel sector was expecting 2022 to be the year for tourism activities to pick up, however, a survey by the World Economic Forum (WEF) revealed that the sector will not witness full recovery until 2024.

Geoffrey Bawa: It is Essential to be There’ exhibition kicks off today

A major exhibition that draws from the archives of the practice of influential architect, Geoffrey Bawa, kicked off today in Colombo.

CB says NBFI sector regulatory capital boosted by its consolidation masterplan

The Central Bank yesterday said the country’s non-bank financial institutions (NBFI) sector has seen “significant improvement “ in terms of regulatory capital requirements as a result of its Masterplan for Consolidation of Non-Bank Financial Institutions.

Tourist arrivals cross 75,000 mark in Jan.

Sri Lanka has managed to attract over 75,000 tourists up to 29 January.

Tourism Job Fair & Career Expo 2022 to kick off in Feb.

In an effort to aid the local tourism sector towards a recovery, an exclusive job fair for the industry will kick off come February.

SL digs out coffee past with first coffee festival

Sri Lanka dug out its strong coffee past yesterday with the launch of the country’s first-ever coffee festival.

EDB launches financial assistance scheme for agri and fisheries value addition

The Export Development Board (EDB) today announced the launch of a financial assistance scheme for the agriculture and fisheries export enterprises so they can move up the value chain.