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UN renews human rights mandate on Sri Lanka; Sri Lanka rejects resolution
The United Nations Human Rights Council on October 9, 2024, adopted a resolution on the human rights situation in Sri Lanka, which on September 21 elected a new president, Anura Kumara Dissanayake. The resolution renews for another year the mandate of the UN Office of the High Commissioner for Human Rights (OHCHR) to report on […]
U.S. Admiral to Visit Sri Lanka, Strengthening Bilateral Security Cooperation
The U.S. Embassy in Sri Lanka is pleased to announce that Admiral Steve Koehler, a 4-star U.S. Navy Admiral and Commander of U.S. Pacific Fleet, will visit Sri Lanka on October 10, marking the highest-level U.S. military visit to the country since 2021. During the visit, Admiral Koehler will reaffirm the strong partnership between the […]
Ceylon Chamber and Sri Lanka Banks’ Association strengthen ongoing partnership
The Ceylon Chamber of Commerce and the Sri Lanka Banks’ Association (SLBA) signed a Memorandum of Understanding (MOU) to formalise and strengthen their ongoing partnership in promoting sustainable finance and financial inclusion in Sri Lanka. The two organisations through this partnership aim to engage in building both demand-side and supply-side capacity and connectivity on sustainable […]
Increases to VAT rates & removal of exemptions hurt poorest; PAYE & PIT highly progressive: IPS Economist
The Institute of Policy Studies of Sri Lanka (IPS) recently hosted a knowledge-sharing and networking event to mark the release of its annual flagship report, Sri Lanka: State of the Economy 2024. This year’s report, themed “Economic Scars of Multiple Crises: From Data to Policy,” presents a comprehensive analysis of Sri Lanka’s ongoing economic recovery, […]
Political Risks to Sri Lanka’s Debt Restructuring Agreement Recede: Fitch Ratings
The Sri Lankan authorities’ confirmation that they endorse the targets set under the country’s IMF programme, and intend to implement debt restructuring based on the terms agreed with international sovereign bondholders in September, reduces risks to the debt treatment process associated with the outcome of the presidential election on 21 September, says Fitch Ratings. Full […]
Sri Lanka to scrutinize wind energy procurement practices post-elections, including Adani project
Cabinet Spokesman Minister Vijitha Herath says that the Sri Lankan government will review wind energy procurement practices including the project by India’s Adani Group after the upcoming parliamentary elections. Herath noted concerns raised by the Public Utilities Commission of Sri Lanka (PUCSL), the Ceylon Electricity Board Engineers Union (CEBEU), and the Court, which will be […]
Sri Lanka to pursue BRICS membership at upcoming summit in Russia
Sri Lanka is set to pursue membership in the BRICS economic bloc at the upcoming summit in Kazan, Russia, scheduled from October 22 to 24, 2024, according to Cabinet Spokesman Vijitha Herath. Herath emphasized that Sri Lanka plans to engage with the foreign ministers of all BRICS nations to garner support for its membership bid. […]
Sri Lanka smartphone market surges 218-pct in Q2 2024: IDC
Sri Lanka’s market shipped 365 thousand units, with 218% YoY growth, showing a triple-digit growth trend for 5 consecutive quarters, market intelligence provider, the International Data Corporation (IDC) said. The quarter had been a celebration time for Sinhalese New Year, Vesak Poya, and Poson, in which new brands and new models were launched. According to […]
Chinese People’s Liberation Army Navy Sail Training Warship ‘PO LANG’ arrives in Colombo
The Chinese People’s Liberation Army Navy Sail Training Warship ‘PO LANG’ arrived at the port of Colombo on a formal visit yesteday morning (08). The visiting ship was welcomed by the Sri Lanka Navy in compliance with naval traditions. ‘PO LANG’ is a 86-meter-long Sail Training Vessel crewed by 130 personnel including 35 Officer Cadets. […]
Mahindra Ideal Finance appoints Mufaddal Choonia as MD and CEO
Mahindra Ideal Finance Limited (MIFL), a subsidiary of Mahindra Finance has announced the appointment of Mufaddal Choonia as its new Managing Director & CEO with immediate effect. Mufaddal will succeed Duminda Weerasekare, who retired as MIFL’s CEO. In his new role, Mufaddal will focus on building a robust digital lending ecosystem, especially benefitting SME and […]