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Indian Min Jaishankar inaugurates “Geoffrey Bawa: It is essential to be there” marks 75 yrs of Indo-Lanka relations
Indian Minister of External Affairs Dr. S. Jaishankar inaugurated the Sri Lankan exhibition “Geoffrey Bawa:It is Essential To be There” at the National Gallery of Modern Art in New Delhi recently. Indian Minister of State for External Affairs and Culture Meenakshi Lekhi was also present on this occasion. The historic exhibition which features the works […]
Royal Thomian – An Outsider’s Perspective
March 19, 2023 (LBO) – I was born and schooled in the United States. In a very unlikely scenario, I ended up marrying a Sri Lankan, having a family, and settling down in Sri Lanka. In another unlikely scenario, I decided to send my boys to S. Thomas’ Preparatory school as opposed to international school. […]
Largest capacity crane in Sri Lanka unloaded at HIP
Last week, the largest capacity crawler crane in Sri Lanka was unloaded at Hambantota International Port. The crane, with a 750-ton lifting capacity, will be initially used for Hiruras Wind Power Project in Mannar. The German built Liebherr brand crane was being used in Japan and has now been imported to Sri Lanka for civil […]
Seylan Bank opens INR Nostro account to catalyse Indo-Lanka trade
Seylan Bank recently announced the opening of an Indian Rupee (INR) Nostro account with Indian Bank, Mumbai. This development will allow importers and exporters in the two countries to carry out trade transactions in a mutually beneficial manner. The move follows the recent declaration by the Central Bank of Sri Lanka (CBSL), making the Indian […]
Sri Lanka records 7.8-pct negative growth for 2022
The Department of Census and Statistics (DCS) states that the year-on-year GDP growth rate for the year 2022 has been estimated as a 7.8 percent negative growth, against the value reported in the previous year 2021. Further, the Gross Domestic Product for Sri Lanka for the year 2022 at the constant price (2015) has declined […]
Eran urges Govt to disclose contents in IMF agreement
Even though the present government said no, the Samagi Jana Balawega emphasized from the beginning that this country needs some sort of agreement and financial assistance from the International Monetary Fund because it gives a signal to the international market that there is a financial discipline in the country paving the way for bilateral and […]
First Capital maintains domestic debt restructuring probability low at 20-pct
First Capital maintains the domestic debt restructuring (DDR) probability at 20%, highlighting that the domestic debt restructuring probabilities stand low for Sri Lanka. Following are the arguments for and against presented by First Capital in terms of DDR. Arguments Against Local Debt Restructuring • Rupee investors equivalent to having suffered debt restructuring: With the steep […]
UK Government launches its new Developing Countries Trading Scheme in Sri Lanka
On 14th March 2023, the UK government held a series of events in Colombo for their new trade preferences scheme – the Developing Country Trading Scheme (DCTS), which will launch this year. Speaking at an event, the British High Commissioner Sarah Hulton OBE said: The UK’s new Developing Countries Trading Scheme provides Sri Lankan and […]
‘ Union proposes amendments to CBSL Bill
The Central Bank Executive Officers’ Union (CBEOU) requests the Speaker and all the members of Parliament to seriously consider the concerns of CBEOU and take action to incorporate necessary amendments to the Bill during the legislative process related to its enactment. Writing a letter to the Speaker, the union said that they are concerned that […]
World Bank Group invites public to provide feedback for new country partnership framework
The World Bank Group (WBG) is preparing its new partnership framework with Sri Lanka for the 2023–2026 period. The process involves consultations with a broad range of stakeholders – with representatives from government, international financial institutions, civil society organizations, think tanks, academia, and the private sector – to exchange views on opportunities for Sri Lanka’s […]