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Sat, 18 May 2024 Today's Paper
The Ceylon Chamber of Commerce, together with the IT industry stakeholders, yesterday expressed concern over the continued delays in implementing the Digital ID system, which they said could propel the transformation of the Sri Lankan economy.
Colombo-based free market think tank Advocata Institute yesterday asserted that despite being marketed as national assets, Sri Lanka’s State-Owned Enterprises (SOEs) are in fact, vehicles for corruption, akin to a Trojan horse. Rehana Thowfeek, a R
Despite Sri Lanka making the Indian rupee (INR) a designated currency in August and several local banks opening up INR nostro accounts, the demand for INR among Lankan importers and exporters remains tepid, according to Central Bank Governor Dr. Nand
Sri Lanka may need additional policy support and favourable economic environment to create more job opportunities Sri Lankans ....
Sri Lanka runs at the risk of being designated as a greylisted/blacklisted country, if it fails to implement all the recommendations put forward by the Financial Action Task Force (FATF) before March 2025, the Financial Intelligence Unit (FIU) of the
The Central Bank yesterday said it will stick to the timelines already announced for the completion of the first review of th
The sharp division within Sri Lanka’s tourism industry on the implementation of the Minimum Room Rate (MRR) became even more apparent yesterday, as the key industry stakeholders voiced their profound discontent about the move, charging that it was
The Central Bank is confident the successful completion of the first review of the Extended Fund Facility (EFF) shortly would ensure ....
While revising Sri Lanka’s growth forecast upwards for next year, the World Bank (WB) yesterday called for improved revenue mobilisation for sustainable fiscal stability, as significant downside....
Sri Lanka reached the 100,000 tourist arrival mark in September, marking the eighth month of 2023 this milestone was achieved.
The International Monetary Fund (IMF) has recommended sixteen priority actions in its recently released Governance Diagnostic Assessment (GDA) on Sri Lanka to address systematic and severe governance....
Some members on the committee of Sri Lanka’s official creditors are pushing to reach a deal to restructure the nation’s debt without....
Despite total merchandise export income surpassing US$ 1 billion, the export lag persisted into August, primarily attributable to the lackluster performance of Sri Lanka’s largest industrial export sector, apparels & textiles.
Sri Lanka’s lubricant market contracted in the second quarter of the year on a year-on-year (YoY) and a quarter-on-quarter (QoQ) basis, reflecting the reduced activity level in economy, following the unprecedented economic crisis that gripped the c
Chief FTA Negotiators from both countries hold virtual meetings to discuss resumption Previous negotiations....
Sri Lanka’s vehicle importers this week cried foul of the government’s move to permit electric and hybrid electric vehicle imports with zero tariff to one company, under the guise of electric and hybrid vehicle assembling in the country, which th
International Monetary Fund (IMF) chief Kristalina Georgieva yesterday received firsthand insights on Sri Lanka’s progress in its reforms efforts with President Ranil Wickremesinghe sharing details on key economic matters.
In a bid to further strengthen trade relations between Sri Lanka and the United States, both nations asserted the need to improve transparency and efficiency in approving foreign direct investment (FDI) in the island nation.
Dampened performance continues for Sri Lanka’s apparel sector with exports proceeding to move along the negative growth trajectory. For the month...
The United States (US) coming to Sri Lanka to discuss bilateral trade and investment speaks not only to the resilience of the Sri Lankan people but also to the hard work of Sri Lanka’s dedicated public servants, US Ambassador to Sri Lanka Julie Chu
Sri Lanka’s Gross Domestic Product (GDP) growth rate for the second quarter of 2023 (2Q23) contracted by 3.1 percent, the Department ....
Fitch Ratings announced yesterday it has downgraded Sri Lanka’s Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to ‘RD’ (Restricted Default), from ‘C’.
The Monetary Board, as the custodian of the Employment Provident Fund (EPF), yesterday announced that it has considered the options available and has decided to opt for the Debt Exchange offer with a long-term view in the best interest
CNN: The European Union is launching an investigation into China’s state support for makers of electric vehicles as soaring imports of their cars stoke fears for the future of European auto manufacturers. Speaking to the European Parliament yesterd
Amidst strong opposition from exporters and the country’s business chambers, the government has decided to postpone the earlier decision to abolish the Simplified Value-Added Tariff (SVAT) system until April 1, 2025.
The Central Bank chief yesterday slammed the misleading views repeatedly shared by different sections of the economy on the Domestic Debt Optimisation (DDO), doing more harm than good for the country. Central Bank Governor Dr. Nandalal Weerasinghe di
The Ceylon Chamber of Commerce is urging the government to reconsider its recent decision to abolish the Simplified Value Added Tax (SVAT) system given the impact it will have on the functioning of the export industry.
Sri Lanka will be able to have a more predictable environment for economic and social development going forward, with the government yesterday setting in motion the much-awaited national evaluation policy framework.
Transaction advisors appointed for the divestiture of seven State-owned enterprises (SOEs) have already kicked off, the process,
Sri Lanka is stepping up efforts to improve the governance and legislation framework of state-owned enterprises (SOEs), with the primary goal of significantly enhancing their performance and simultaneously mitigating the adverse impact of certain los
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