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Sri Lanka Reports Full-Year Tourist Surge of 38-pct in 2024, December Arrivals up by 18-pct
Foreign tourist arrivals in Sri Lanka increased by 18.18% year-on-year to 248,592 in December 2024, following a 21.6% rise in the previous month, according to data from the Sri Lanka Tourism Development Authority. Among key markets, India (21.3%) remained the top tourist source market, followed by Russia (14.2%), the UK (7.5%), Germany (5.9%), Australia (5.3%), […]
Sri Lanka’s Economy, Hare or Tortoise?
By Jekhan Aruliah I was listening to a very eloquent speaker on YouTube. He commented, as our public speakers often do, that we in Sri Lanka are a blessed nation. Blessed with abundant natural assets, our forests and beaches etc, and copious human talents. And yet this blessed nation is chronically poor and in 2022 […]
“NSBM Edu Fair” this weekend at Havelock City Mall and KCC
Following the success of last weekend’s NSBM Open Day for the January 2025 Intake, NSBM Green University is bringing higher education opportunities closer to you with the “NSBM Edu Fair”. Event Details: 10th & 11th January at Havelock City Mall, Colombo 10th January at Kandy City Centre (Level 2 Lobby), Kandy Prospective students can visit […]
Real GDP projected to have grown by 5-pct in 2024; gross official reserves at USD 6.1bn by end 2024: CBSL
Sri Lanka’s real GDP is projected to have grown by around 5.0% in 2024, registering the highest annual growth since 2017, the Central Bank said launching its Policy Agenda for 2025. This higher-than-expected growth also provides evidence that deflation in recent months was not due to demand factors but mainly due to supply-side factors, including […]
Leaf Lanka Takes on Maldivian Investment, Unfolds USD 6M Retreat in Riverstone
Leaf Lanka International (Pvt) Ltd, a company led by the young entrepreneur Hashan Gunathilaka, is set to redefine luxury hospitality in Sri Lanka. The company has recently acquired a 17-acre property in Matale and has embarked on an ambitious $6 million USD project to develop an eco-luxury chalet retreat. This strategic move, backed by Maldivian […]
IRD Publishes Procedure for Withholding Tax on Nonresident Payments in Gazette
The Inland Revenue Department (IRD) announced that a notification specifying the procedure for withholding tax on any payment to a nonresident person, under Section 86 (7) of the Inland Revenue Act, No. 24 of 2017, has been published in the official gazette. This notification outlines the detailed steps and requirements for withholding tax on payments […]
Sri Lankan Insurers to Tackle Profitability Pressure with Key Shifts: Fitch Ratings
Underwriting profitability for Sri Lankan non-life insurers will gradually improve as they enhance practices and shift focus to more profitable non-motor segments, Fitch Ratings says in a new report. This shift includes adjusting policy pricing, particularly for motor and medical insurance, to better cope with inflation and rising claim costs. Motor insurance profitability faces challenges […]
TRCSL Approves Starlink Satellite Broadband Tariff Plans
The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has officially given the green light to tariff plans for ‘Starlink’ satellite broadband services, which will be deployed through ‘Starlink’ Lanka (Private) Ltd.
SLT-MOBITEL completes historic SEA-ME-WE 6 Submarine Cable landing in Matara
SLT-MOBITEL has successfully landed the SEA-ME-WE 6 (Southeast Asia-Middle East-Western Europe 6) submarine cable in Matara, Sri Lanka on December 29, 2024, achieving a historic breakthrough in Sri Lanka’s telecommunications infrastructure. The cable system will be in commercial operation by mid-2026. The Matara landing was completed in collaboration with Subcom LLC, USA, and under an […]
‘s “Clean Sri Lanka” Programme
The Japan International Cooperation Agency (JICA) will continue its financial and technical assistance to Sri Lanka without interruption, stated HARA Shohei, Senior Vice President of JICA. This assurance was revealed during a meeting held today (07) at the Presidential Secretariat between President Anura Kumara Disanayake and HARA Shohei. During the discussion, attention was drawn to […]