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CEAT ranked Sri Lanka’s Most Valuable Brand in ‘Motor’ segment
CEAT, the tyre brand manufactured in Sri Lanka by CEAT Kelani Holdings, has been ranked the most valuable consumer brand in the country’s ‘Motor’ segment in the 2021 Brand Finance rankings, and has moved up five places in the overall list. The world’s leading brand valuation consultancy assigned CEAT a Brand Value of Rs 2,024 […]
Last batch of detained migrant workers in Saudi Arabia returns to Sri Lanka
Repatriation of Sri Lankan migrant workers kept in the detention centres in Riyadh and Jeddah has been completed with the last batch of 103 detainees having returned to Sri Lanka in the Saudi Airlines SV 786 on 19 May. This is the last leg of the repatriation process initiated by the Embassy of Sri Lanka in […]
SriLankan Airlines signs MOU with Boeing
SriLankan Airlines and Boeing, the leading aerospace company in the USA signed a collaboration MOU in Colombo, Sri Lanka recently. The new agreement would enable both parties to explore airframe maintenance, component maintenance, training, and other commercial opportunities. The signing took place as a hybrid event in the presence of SriLankan Airlines CEO Vipula Gunathilake, […]
Third wave of pandemic highlights need for continued fiscal & monetary support: CBSL
The Sri Lankan economy, which rebounded notably during the second half of 2020 and early 2021 as per available indicators, is experiencing renewed disruptions due to the emergence of the third wave of the COVID-19 pandemic and related preventive measures, including isolations. “While its adverse effects on economic activity are expected to be lesser than […]
CBSL continues accommodative monetary policy to support sustained recovery of economy
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 19 May 2021, 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. The Board said they arrived at […]
Foreign Minister meets EU Ambassadors in Colombo
Ambassadors of the European Union (EU) based in Colombo called on Foreign Minister Dinesh Gunawardena on Tuesday 18 May 2021 at the Foreign Ministry and discussed issues of mutual interest, including EU-Sri Lanka cooperation, and the GSP Plus process. The Foreign Minister welcomed the multifaceted cooperation existing between Sri Lanka and the EU. Follow-up action […]
FIU imposes Rs. 4 Mn penalties for 1Q 2021 to enforce compliance on Financial Institutions
As the regulator for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) in Sri Lanka, the Financial Intelligence Unit (FIU) has imposed penalties, totaling to Rs. 4.0 million for the period from 1 January 2021 to 31 March 2021 to enforce compliance on Financial Institutions. Penalties have been imposed mainly on the violations of […]
President to Inaugurate Sri Lanka Investment Forum 2021
The President, in inviting global investors to participate in “Sri Lanka’s Growth Decade”, stated that “Sri Lanka is looking to unleash a decade of growth to rapidly increase its GDP, taking advantage of its inherent strengths and global supply chain shifts. Our strategic location combined with our business-friendly policies will be an accelerator for this […]
Certain clauses in Port City Bill inconsistent with Constitution: SC (Full Determination)
Speaker Mahinda Yapa Abeywardena informed Parliament today that some clauses in the Port City Economic Commission Bill are inconsistent with the Constitution and can be passed through a special majority and a referendum. The Supreme Court, however, determined that these clauses can be passed only if amended. The decision of the Supreme Court was handed […]
Dutch partner CSI joins hands with Tropical Green Exports in an investment partnership
Ceasar Sustainable Invest BV, recently announced its partnership with Tropical Green Exports recognizing the potential of the coconut substrate sector as a key economic driver in the North of Sri Lanka. Tropical Green Exports (Private) Limited specializes in manufacturing, supply and distribution of export quality coco peat used in the hydroponics industry and as an […]