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Opinion: From Crisis to Inclusive Economic Growth in Sri Lanka
By FARIS HADAD-ZERVOS, World Bank Country Director for Maldives, Nepal and Sri Lanka & HANS TIMMER , Chief Economist, South Asia, World Bank: Sri Lanka has managed the health and safety aspects of the COVID-19 pandemic in a commendable way . The nation has been and continues to be swift in safeguarding the health of its […]
Opinion: Introducing import licenses will worsen Sri Lanka’s economic crisis
Advocata Extraordinary Gazette No 2270/18 of March 2022, imposes import restrictions on 367 goods determined as “non-essential” by the Ministry of Finance. These can now only be imported under a license issued by the controller general of imports and exports control. This move tightens already existing import restrictions on a series of imported goods ranging […]
Interview: Resilience, creativity and talent will make Sri Lankan apparel thrive globally
Sri Lanka’s apparel sector contributes 6% to the country’s GDP and accounts for almost half of all merchandise exports. The sector provides direct employment to 350,000 workers and an additional 700,000 Sri Lankans receive livelihood opportunities as part of the larger supply chain.Sharad Amalean, Chairman of the Joint Apparel Association Forum (JAAF), talks about JAAF’s […]
Advisory Committee proposes five urgent recommendations to National Economic Council
The Advisory Committee appointed to assist the National Economic Council has made five recommendations that need to be implemented immediately.The members of the Advisory Committee met President Gotabaya Rajapaksa and members of the National Economic Council for the first time this morning (21) and presented the set of proposals.The President appointed a 16-member Advisory Committee […]
CL Synergy announces forthcoming IPO as next step in growth strategy
CL Synergy Limited has received official approval from the Colombo Stock Exchange (CSE) for its Initial Public Offering, which is set to open on the 7th of April 2022. The anticipated IPO by one of Sri Lanka’s fast-growing freight forwarding solutions providers will issue an offer for a subscription of 63 million new ordinary voting […]
‘s Condominium Property Volume Index up by 49-pct in Q4 2021
The Condominium Property Volume Index has increased significantly during Q4, 2021 with a notable increase of 49.0 percent compared to Q4, 2020, and with a growth of 48.4 percent compared to Q3, 2021. This market analysis is based on the Condominium Market Survey conducted by the Central Bank for Q4, 2021 and 22 condominium property […]
Proposed additional incentive scheme for workers’ remittances & exporters to be rescinded
Sri Lanka’s government has decided not to implement the proposed scheme for additional incentives for remittances by expatriate workers and net earnings of exporters. CBSL Media Release As a result of the decision of the Central Bank of Sri Lanka to allow flexibility in the exchange rate, the exchange rate seems to have now reached […]
Defence Attachés of USA, France, Germany, Korea & Switzerland visit Hambantota Port
Defence Attachés (DAs) representing several countries made a recent tour of the port to familiarise themselves with the port’s activities. Some of them showed interest in directing their country’s naval vessels to Hambantota International Port (HIP) for replenishment and for husbandry services while operating in the region. The visiting group represented the USA, Maldives, France, […]
Chinese steel giant Baowu to conduct feasibility study on making investment in Hambanthota
Ambassador of Sri Lanka to China, Dr.Palitha Kohona visited the Baowu Steel conglomerate offices in Ma’anshan, Anhui and met with senior management to discuss investment potential in Sri Lanka. Baowu Steel will prepare a feasibility study on making a substantial investment in Hambanthota, Sri Lanka. China Baowu Steel Group Corp., Ltd., commonly known as Baowu, […]
President says no truth in the report that the CBSL Governor was asked to step down
With reference to news reports that CBSL Governor was asked to step down, President Gotabaya Rajapaksa today said, “The news stories that Central Bank Governor Ajith Nivard Cabraal has been requested to step down is completely false. Governor Cabraal enjoys my fullest confidence and trust and has been a tower of strength in responding to […]