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X-Press Pearl Disaster: From Flames to Prevention
By Ruwan Samaraweera: Sri Lanka’s ecological disaster related to the MV X-Press Pearl, a container ship carrying hazardous chemicals that caught fire off its coast on 20th May 2021, is back in the news as the country attempts to claim damages. The ecological disaster washed up tons of plastic pellets and other pollutants on the […]
ADB President commends SL for action taken to overcome economic crisis and pledges further support
Foreign Minister Ali Sabry met with the President of Asian Development Bank, Masatsugu Asakawa in Seoul, Republic of Korea during the 56th Annual Meeting of the ADB, Tuesday. The Minister expressed Sri Lanka’s gratitude for the excellent partnership and cooperation extended by the Asian Development Bank during a challenging period for Sri Lanka and for […]
Green bonds gain traction in Sri Lanka: Securities and Exchange Commission
By Securities and Exchange Commission of Sri Lanka Sustainable Financing Sustainable finance refers to any form of financial service integrating Environmental, Social and Governance (ESG) criteria into the business or investment decisions for the lasting benefit of both clients and society at large. Presently, a number of securities regulators are focused on whether the sustainable […]
Govt public debt restructuring and concerns of the banking sector: SL Banks Association
The banks believe that all stakeholders involved in structuring the restoration of Sri Lanka’s Balance of Payments to a sustainable equilibrium must necessarily take a careful look at the resulting outcomes – impact to the banking sector capital and liquidity in a potential Domestic Debt Restructuring (DDR) and minimise the risk to the sector, a […]
Expolanka Holdings ends FY 2023 focusing on consolidation strategy to deliver long term growth
Expolanka Holdings PLC ended its financial Year 2023 displaying resilience in the face of a challenging macro environment, while pursuing a strategy of consolidation paving the way for future growth. For the fourth quarter, Expolanka achieved a Revenue of Rs. 55.1Bn, Gross Profit of Rs. 19.3Bn, and Operating Profit of Rs. 1.08Bn. However, the appreciation […]
China Merchants Group investment in Sri Lanka reaches USD 2 Billion
The Chairman of the China Merchants Group (CMG), China’s largest diversified conglomerate, who was on a visit to Sri Lanka says the Group’s latest investment plans will up its accumulated investments in the island to reach nearly 2 billion US Dollars. Chairman Miao Jianmin, who is on his first visit to the country, attended a […]
Sri Lanka joins hands with UNDP to align tax & fiscal policies to achieve SDGs
The Sustainable Development Goals (SDGs) are a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity by 2030. But it requires fundamental changes to the way the economy and fiscal policies are organized. In order to offset challenging market conditions faced by developing countries and […]
National Organic Certification Mark Made Public by EDB
The Sri Lanka Export Development Board (EDB) on Friday made public the National Organic Certification Mark (NOCM) to increase consumers’ awareness of organic food production. The event was organized by the National Organic Control Unit (NOCU) of the EDB, in collaboration with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH in Sri Lanka, co-funded by […]
FM Ali Sabry to attend annual meeting of board of governors of ADB, in S Korea
Foreign Minister Ali Sabry will leave for Incheon, South Korea to attend the 56th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB), scheduled to be held from 2-5 May 2023, representing President Ranil Wickemesinghe. The Annual Meeting is a high-level event attended by around 3,000-4,000 participants, including Ministers of Finance, Governors of […]
President directs immediate action to solve plantation sector issues
President Ranil Wickremesinghe says that the government is committed to carrying out its agricultural modernization plan. Speaking at recent meeting held at the Presidential Secretariat he emphasized that there are several issue fading the sector and that one of the main challenges was related to the Mahaweli Authority and its lands, which are now being […]