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‘s cargo handling volume increases amidst pandemic
As 2021 hits its halfway mark, the Hambantota International Port (HIP) records an overall growth in its volumes and diversification of services. The port’s overall cargo handling volume has increased from 420,421 MT by the end of June 2020, to a significant 1,206,425 MT, during the corresponding period this year. HIP continued its operations without […]
Sri Lanka seeks USD 150Mn loan from ADB for Responsive Vaccines for Recovery project
The Government of Sri Lanka is planning to borrow two loans amounting to USD 150 million from the Asian Development Bank (ADB) to implement the “Responsive COVID-19 Vaccines for Recovery (RECOVER) Project”. The proposed total financial assistance from ADB is comprised of USD 84 million under Asia Pacific Vaccine Access Facility (APVAX) and USD 66 […]
Sri Lanka’s official reserves remain at USD 4bn level by the end of June
Sri Lanka’s official reserves were 4 billion US dollars (USD 4,027.9mn) by the end of June, unchanged from 4 billion US dollars (USD 4,032.8mn) in May, the latest Central Bank data showed. This does not include the swap facility signed with the People’s Bank of China (PBoC) of RMB 10 bn (equivalent to approximately US$ […]
Local Companies permitted to invest in International Sovereign Bonds in Secondary Market
Sri Lanka’s Finance Minister has issued Regulations, with the approval of the Cabinet to permit companies incorporated in Sri Lanka excluding companies engaged in the finance business to purchase International Sovereign Bonds (ISBs) issued by the Government, in the secondary market. According to the above Regulations, companies can invest in ISBs utilizing 50% of the […]
‘s Minister of Finance
Basil Rajapaksa took his oaths as Minister of Finance before President Gotabaya Rajapaksa at the Presidential Secretariat today (July 8), President’s Media Division said. With the reshuffle of ministerial portfolios, Prime Minister Mahinda Rajapaksa was sworn-in as Minister of Economic Policies and Planning. With the resignation of National List Member of Parliament Jayantha Ketagoda, Sri […]
CBSL expects 5-pct GDP growth in 2021; inflationary pressures to be addressed with policy intervention
The Monetary Board of the Central Bank has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 4.50 percent and 5.50 percent, respectively. According to the Central Bank, the economy is likely to have recorded a higher than expected […]
SL Retailers’ Association urges for relief measures from PM
Sri Lanka Retailers Association (SLRA), the apex body of Sri Lanka’s Organised Retail Sector (ORS) consisting of last mile retailers, met Prime Minister Mahinda Rajapaksa on June 30 to address the issues and difficulties they are faced with due to COVID pressures in the country. Representatives of SLRA also requested Prime Minister to institute relief […]
SriLankan Airlines to resume flights to Moscow
SriLankan Airlines the National Carrier of Sri Lanka and a member of the oneworld alliance resumes flights to the Russian capital, Moscow. SriLankan’s new service will operate a weekly scheduled flight between Colombo’s Bandaranaike International Airport (BIA) and Moscow’s Domodedovo Airport (DME) from 30th July 2021. Accordingly, SriLankan would commence its flights to Russia every […]
Issue of Commemorative Coins to Mark 100th Anniversary of Communist Party of China
The Central Bank of Sri Lanka (CBSL) has issued gold and silver commemorative coins of Rupees 1,000, each with same depiction, to mark 65th Anniversary of diplomatic relations between Sri Lanka and the People’s Republic of China and the 100th Anniversary of Communist Party of China. The coins have been issued at the request of […]
Opinion: A mistreated ocean’s cry for help
By Ceylon Fishery Harbour Corporation, Sri Lanka Navy and Eco Spindles In the last decade, Sri Lanka has mismanaged 1.59 million metric tons of plastic waste yearly that ultimately finds its way to the ocean. Seven out of the 12 Indian Ocean rim countries are significant plastic polluters, Sri Lanka included. The recent MV X-Press Pearl […]