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Anura Kumara Dissanayake wins Sri Lanka’s presidential election
Sri Lanka’s Election Commission announced NPP presidential candidate Anura Kumara Dissanayake (55) as the winner of the 2024 presidential election, a short while ago. The election commission made the announcement after a second vote count, the first in Sri Lanka’s history. Opposition leader Sajith Premadasa finished second. Incumbent President Ranil Wickremesinghe came third and was […]
ComBank commences planting 10,000 trees in Kilinochchi and Jaffna districts
The Commercial Bank of Ceylon has embarked on a project to plant 10,000 trees in the northern districts of Jaffna and Kilinochchi as part of the Bank’s country-wide effort to promote sustainability. The trees are to be planted on 600 acres of land owned by the University of Jaffna in Kilinochchi and Jaffna, and on […]
FR petition filed before Supreme Court challenging new debt restructuring deal
A fundamental rights petition was submitted to the Supreme Court yesterday, challenging the new restructuring deal of sovereign debt with external commercial creditors. The petitioner claims this deal has violated the basic human rights of the nation’s citizens. The petition was filed by former Inter-University Students’ Federation (IUSF) convenor Wasantha Mudalige. Key figures in the […]
IMF Technical Assistance recommends introducing single policy rate to strengthen policy signaling
The IMF South Asia Regional Training and Technical Assistance Center (SARTTAC) provided technical assistance (TA) to the Central Bank of Sri Lanka (CBSL) focusing on modernizing monetary operations framework and improving liquidity monitoring. Macroeconomic crisis, compounded by the pandemic, has created significant challenges for conducting monetary policy in Sri Lanka. Considering this, the mission proposed […]
CBL Global Foods and USAID join forces to transform Sri Lanka’s coconut industry
CBL Global Foods Limited (CBL GFL), a key player in Sri Lanka’s agribusiness sector and a subsidiary of the CBL Group – one of the largest food conglomerates, has partnered with the United States Agency for International Development (USAID) to enhance the coconut industry through an initiative aimed at boosting productivity and market access for […]
University of Jaffna – 50 Years of challenges, resilience and excellence! My memories!
By Dr. Kingsley Bernard The University of Jaffna, located in the Northern Province of Sri Lanka, has a rich and complex history deeply intertwined with the region’s cultural, social, and political landscape. The University of Jaffna was officially established on 6th October, 1974, as the sixth campus of the University of Sri Lanka, under the […]
SL Reaches in Principle Agreements for Restructuring Sovereign Debt with External Commercial Creditors
On the 19th of September 2024, Sri Lanka announced that it has reached Agreements in Principle on the restructuring of approximately USD$ 17.5 billion of external commercial debt (as of end 2023). These agreements have been reached with holders of its International Sovereign Bonds, following negotiations with the Ad Hoc Group of Bondholders (“AHGB”), a […]
TISL Challenges the Companies (Amendment) Bill
Transparency International Sri Lanka (TISL) filed legal action on Friday the 13th of September in the Supreme Court challenging the Bill issued on 06th August 2024 to amend the Companies Act No. 07 of 2007. The amendment introduced a much-needed anti-corruption tool to Sri Lanka’s legal framework – a Beneficial Ownership register. A publicly accessible […]
IPS Publication: The Economic Stakes of the 2024 Presidential Election
As Sri Lanka gears up for elections, policymakers must avoid rash economic promises that risk a decade of lost growth and an era of relative decline. As too often in the past, Sri Lanka appears not to have broken its damaging tendency towards ‘competitive populism’ ahead of elections. Fiscally profligate promises ranging from wage increases […]
Mirai Consulting Group Explores Investment Opportunities in Sri Lanka
A high-level delegation from Mirai Consulting Group, Japan, recently visited Sri Lanka to explore potential investment opportunities in various sectors. The delegation, led by Okada Atsushi, COO of Mirai Consulting Group, met with the EDB Chairman at the EDB headquarters. The purpose of the visit was to identify industries that aligned with the investment interests […]