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Innovative Digital Marketplace to Help Sri Lanka’s Small Businesses
To expand the reach of small and medium enterprises (SMEs), including women-owned small businesses, the International Finance Corporation (IFC) is supporting the Commercial Bank of Ceylon (CBC) launch a digital marketplace in Sri Lanka, helping business owners connect with more customers locally and abroad. Named Commercial Bank LEAP, this one-of-its-kind initiative, which is supported under […]
Sri Lanka’s First-Ever Agripreneur Conference to be Organised by Sri Lanka Agripreneurs’ Forum
Sri Lanka Agripreneurs’ Forum (SLAF) in collaboration with Hatton National Bank (HNB), and MBA Alumni Association of the University of Colombo (MBAAA) organizes the first-ever conference for agripreneurship in Sri Lanka, The Agripreneur Conference 2023 under the theme of “empowering agripreneurs for a world of abundance”. It will be held on the 30th of March […]
Sri Lanka’s exports decreased by 8-pct to USD 1Bn in Feb 2023 compared to Feb 2022
Sri Lanka’s merchandise exports decreased by 8.06 % to US$ 1,005.2 Million in February 2023 compared to February 2022 as per the data released by Sri Lanka Customs. However, it is a 5.62% increase when compared to February 2021. Table 1: Merchandise Export Performance Values in US$ Mns Exports of Goods Jan-Feb 2022 […]
Govt increasing tax burden on poor and working people on IMF conditions but not taxing capitalists: Eran
Oppositions MP Eran Wikramaratne has alleged that there is a bizarre situation in the implementation of the agreement with the International Monetary Fund, as the tax burden on the poor and working people was imposed even before the implementation of the IMF conditions. According to the report, the taxation of capitalists has been delayed until […]
SHMA & VTA signs MoU to implement a Swiss-designed learning curriculum
Swiss Hospitality & Management Academy (SHMA) of A. Baur & Co. Pvt Ltd., also known as Baurs, a leading conglomerate with diversified business interests, recently signed an MoU with the Vocational Training Authority of Sri Lanka (VTA) under the Ministry of Education to implement its Skills for Sustainable Growth (SSG) project among selected learning centers across the […]
Japan provides USD 1.6mn to SL through UN Women in support of assistance for marginalized women
The Government of Japan provided USD 1.6 million to UN Women in support of humanitarian assistance for women most affected by the socio-economic crisis in Sri Lanka. The funding is part of a new project “Empowering women in crisis”, running from February 2023 to December 2023, which will support at least 1,200 women, including their […]
HC Moragoda meets Indian Finance Minister; discussions about Indian Rupee trade expansion
Sri Lanka’s High Commissioner to India Milinda Moragoda met with the Minister of Finance and Corporate Affairs of India Smt. Nirmala Sitharaman in New Delhi on 22 March 2023. This was the latest of a series of meetings High Commissioner Moragoda has had with Minister Sitharaman since November 2021 on Indian economic cooperation and assistance to […]
President expresses gratitude to all who helped Sri Lanka; import restrictions to be relaxed
In a special statement following the approval of the extended credit facility by the Executive Board of the International Monetary Fund (IMF), President Ranil Wickremesinghe emphasized that Sri Lanka is no longer deemed bankrupt by the world. The President further stated that the loan facility serves as an assurance from the international community that Sri […]
Sri Lanka to announce parameters of external & domestic debt operations before end-April
Sri Lankan authorities are currently exploring options for a domestic debt operation which is aimed at providing substantial liquidity relief to the government, the Letter of Intent sent to the IMF Managing Director showed. This will be carried out in line with the program parameters while preserving financial stability to avoid further eroding Sri Lanka’s […]
People’s Bank of China to consider renewing swap arrangement with CBSL for another 3 years: report
People’s Bank of China (PBoC) has indicated that it will consider renewing its swap arrangement with the CBSL in 2024 for another three years if there is no significant situation change, the IMF Staff Report highlighted. However, the PBOC swap ($1.4bn in 2022) will become usable once Gross international reserves (GIR) rise above 3 months […]