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India agrees to provide USD 55mn loan through Export-Import Bank to procure Urea
The Government of India has agreed to provide a $ 55 million loan through the Export-Import Bank of India for the procurement of Urea for the 2022/23 Maha season. It is expected to cultivate 800,000 hectares of paddy in the 2022/23 Maha season and estimated that 150,000 metric tons of Urea, 45,000 metric tons of […]
MAS Holdings launches Foundation for Change, a non-profit to tackle environmental issues
MAS Holdings, the Sri Lankan based design-to-delivery solutions provider, announced the launch of the ‘MAS Foundation for Change’, an independent non-profit organization aimed at tackling the social and environmental challenges faced due to biodiversity loss, ocean pollution, and lack of access to clean water. The creation of the MAS Foundation for Change is an extension […]
Current exchange rate arrangement: Background, positive impact thus far, and expected outcomes
This note is intended to explain to the general public the background to the current exchange rate arrangement, and the positive impact it has already made, and expected outcomes in the period ahead. The country is facing extremely challenging economic circumstances at present while it is going through the worst balance of payments crisis in […]
Russia’s Aeroflot suspends flights to Sri Lanka
Russia’s Aeroflot airline is suspending its flights to Sri Lanka after authorities arrested its Airbus A330 jet, according to the airline’s statement. “Aeroflot is suspending commercial flights to Colombo for the immediate period due to an unreliable situation in terms of the airline’s unobstructed flights to Sri Lanka. The sales of tickets for flights to […]
People’s aspirations for system change in governance incorporated in SJB’s 21 A: Eran
SJB Parliamentarian Eran Wickramaratne said that if the government has a genuine need to bring in a system change as demanded by the people across the country it is high time for the government, to bring in the amendment proposed by the SJB to parliament with the approval of the Cabinet of Ministers. If the […]
Colombo Port ranked most efficient in South Asia and Indian sub-continent : World Bank and S&P
No. 1 in South Asia/Indian Sub-Continent No. 3 among ports in the Indian Ocean Rim No. 22 among 370 ports Globally The Port of Colombo has been ranked as the most efficient port in South Asia and the Indian Sub-Continent, 3rd in the Indian Ocean rim and 22nd among 370 ports globally, in the second […]
3AxisLabs another welcome entrant to Jaffna’s IT ecosystem
By Jekhan Aruliah The Yarl Geek Challenge (YGC), run by the Yarl IT Hub, has been a launch pad for hundreds of IT careers, and for a number of successful companies. What YGC showcases is not the products brought by the teams, YGC showcases the people the teams are made up of. Often the YGC’s […]
Indian Prime Minister assures supply of fertilizer expeditiously: President
President Gotabaya Rajapaksa has said that Indian Prime Minister Narendra Modi has agreed to provide the fertilizer required for the Yala season cultivation immediately. The fertilizer will be supplied under the Indian loan facility and it is scheduled to distribute within 20 days of receiving it in Sri Lanka. The President made these remarks at […]
Now Uber Eats Delivery through push cycles in Sri Lanka
Uber Eats in Sri Lanka has reiterated its commitment to the market by dialing up support to Courier partners on its platform during the current challenging times. To soften the impact of the ongoing economic crisis, the company has announced initiatives that will help create new earning opportunities and provide a cushion to courier partners. […]
Opinion: Entrepreneurship is Key to Improving Economy
By M. Rizwan Muzzammil Why Economics? It is a reality of life that all resources, be it land, labour, or capital, are scarce. This is why economizing is necessary. In Sri Lanka, the shortage of goods and services is in fact indicative of a general shortage of resources in the economy. To address this problem […]