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ADB approves USD100mn loan to overhaul Sri Lanka’s vocational training system
The Asian Development Bank (ADB) has approved a $100 million results-based loan to transform Sri Lanka’s technical and vocational education and training (TVET) system, aiming to equip more young people with industry-relevant skills and strengthen the country’s competitiveness. The Skills Development System Transformation Program will back government efforts to improve training quality, strengthen links between […]
Lead Agencies Convene to Accelerate Implementation of National Export Development Plan (NEDP) 2026–2030
The Sri Lanka Export Development Board (EDB), in collaboration with the Ministry of Industry and Entrepreneurship Development, convened a coordination meeting with the Lead Implementing Agencies of the National Export Development Plan (NEDP) 2026–2030 today, 29th September 2026, at the Auditorium of the Ministry of Industry and Entrepreneurship Development. The meeting brought together representatives of […]
Sri Lanka and Palestine Reaffirm Commitment to Deepen Economic Cooperation and Trade Relations
The Representative of the Democratic Socialist Republic of Sri Lanka to the State of Palestine, Farook Mohamed Fawzer, paid a courtesy call on Minister of National Economy of the State of Palestine Muhammad Al-Amur, at the Ministry headquarters in Ramallah. During the meeting, the two sides held cordial and substantive discussions on further strengthening economic […]
Fitch Upgrades Bank of Ceylon’s IDRs to ‘B-‘, VR to ‘b-‘; Outlook Stable
Fitch Ratings has upgraded Bank of Ceylon’s (BOC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to ‘B-’, from ‘CCC+’, with a Stable Outlook. Fitch has also upgraded BOC’s Viability Rating (VR) to ‘b-’, from ‘ccc+’, and Short-Term IDR to ‘B’, from ‘C’. The Government Support Rating (GSR) has been affirmed at ‘ns’ (no support). […]
First Capital Treasuries strengthens Board with experienced capital markets and treasury expertise
First Capital Treasuries PLC, a subsidiary of First Capital Holdings PLC and JXG (Janashakthi Group), has strengthened its Board with the appointment of Channa de Silva as Chairman. The Board’s capabilities have also been further enhanced with the appointments of Dudeepa Ratwatte and Niran Mahawatte as Independent Non-Executive Directors. The appointments bring extensive experience across […]
FAAMA Appoints New Executive Committee for 2026/27, targeting a US$1 billion local value-addition opportunity
The Fabric & Apparel Accessory Manufacturers Association (FAAMA) has reappointed Mr. Husni Salieh of Noyon Lanka (Private) Limited as the Chairman for the 2026/27 term at its Annual General Meeting held on 25 September 2026 at the Hilton Colombo. The AGM was graced virtually by Mr. Duminda Hulangamuwa, Chairman of the Board of Investment of […]
World Bank Approves $110 Million for Climate-Resilient Roads in Sri Lanka
The World Bank today approved $110 million to help Sri Lanka repair and reconstruct 600 kilometers of roads that were severely damaged by Cyclone Ditwah. The new financing, provided through the International Development Association’s Crisis Response Window, will prioritize roads that restore access to markets, schools, and health facilities in the communities most severely affected […]
New ‘Ayubo’ Lottery Will Only Make the Poor Fund Free Healthcare: Advocata Institute
The government’s new ‘Ayubo’ daily lottery will result in lower-income citizens footing the bill for a universal free healthcare system accessible to all wealth brackets, the Advocata Institute warned. The warning follows the launch of the lottery last week by the National Health Development Fund (NHDF), the Ministry of Health and Mass Media, and the National Lotteries […]
Beyond El Niño: Building lasting climate resilience in Sri Lanka’s plantations
Climate resilience has become the defining test of this El Niño year for Sri Lanka’s plantation sector. The National Disaster Relief Services Centre says over 81,000 people across 25,563 families in seven districts, Ampara, Polonnaruwa, Batticaloa, Badulla, Monaragala, Hambantota and Ratnapura, have been affected by the dry weather linked to the phenomenon. The government has […]
Maldives’ 40% Dollar Conversion Rule is a gift for Sri Lanka’s Tourism Sector
Sri Lanka and other regional players to benefit By Jithendra Antonio On 31 August 2026, President Mohamed Muizzu signed the First Amendment to the Foreign Currency Act into law, alongside six other pieces of legislation. The amendment came into force the very next day, on 1 September 2026. Buried in the fine print of a […]