Author: lbostgadmin
Visa Applications Now Available Under Previous System Starting Midnight Today
Minister of Public Security, Vijitha Herath addressed the recent visa issues, stating that the government has taken swift action to resolve the challenges faced in obtaining visas over the past 24 hours. Starting from 12.00 midnight today (26), all foreigners will be able to apply for visas under the previous system. Minister Vijitha Herath further […]
Vote on Account first; 2025 Budget early next year: NPP Economic Council
The new President plans to introduce a vote on account to cover expenditures until a fully-fledged budget is presented next year, according to Professor Anil Jayantha, Chairperson of the Economic Policy Committee of National People’s Power. “We are proceeding with a vote on account this year to facilitate the IMF’s third review,” Professor Jayantha stated. […]
Presidential Subsidy Initiative Supports Farmers and Fishermen
President Anura Kumara Dissanayake has instructed the Treasury to provide an allowance of Rs. 25,000 per hectare to paddy farmers for the Maha season of 2024/25. According to this initiative, the fertilizer subsidy, which was previously set at Rs. 15,000 per hectare, will be increased to Rs. 25,000. This enhanced subsidy will take effect starting […]
Navigating new EU sustainability and labelling requirements: Challenges and opportunities
By Joint Apparel Association Forum (JAAF) The European Union (EU), with its vast market of over 448 million consumers, has always been a key destination for Sri Lankan apparel exports. Known for its high-quality and ethically produced garments, Sri Lanka has secured a strong foothold in this competitive space. However, new sustainability and labelling requirements […]
Planters’ Association of Ceylon welcomes new President : Calls for collaborative efforts to transform sector
The Planters’ Association of Ceylon (PA) congratulates NPP leader Anura Kumara Dissanayake on his election as the 9 th Executive President of Sri Lanka and called for renewed collaboration to secure sustainable growth and livelihood empowerment within the plantation sector. The Association called on President Dissanayake to initiate a transformative era for the plantation industry […]
IMF Congratulates Newly Elected President
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, extended her congratulations to Anura Kumara Dissanayake on his election as the new President of Sri Lanka. In her special message, she reaffirmed the IMF’s commitment to remaining a strong partner to Sri Lanka and expressed her hope to further strengthen the mutually beneficial […]
Sri Lanka Banks Association congratulates new President, assures support for nation building
The Sri Lanka Banks’ Association (SLBA) has congratulated President Anura Kumara Dissanayake on his election to the Presidency and assured him of the fullest support of the banking sector for the challenging journey ahead. In a congratulatory note, the Association, which represents all licenced banks in Sri Lanka, said: “The essential political and social stability […]
Fitch Affirms Sri Lanka at Restricted Default; Policy Uncertainty Following Elections
Fitch Ratings has affirmed Sri Lanka’s LongTerm Foreign-Currency Issuer Default Rating (IDR) at ‘RD’ (Restricted Default) and Long-Term Local-Currency IDR at ‘CCC-‘. Fitch typically does not assign Outlooks to issuers with a rating of ‘CCC+’ or below. Sri Lanka’s September 2024 Presidential election was won by one of the opposition leaders. “Fitch believes the result […]
Siyapatha Finance Posts Steady Growth in 1st half 2024
Siyapatha Finance PLC recently posted a steady financial growth for the first half ended 30 June 2024. The company recorded a Profit After Tax (PAT) of Rs.513 Million indicating a 189% increase compared to the corresponding period last year, while the Profit Before Tax (PBT) grew by 133% compared to the preceding year and stood […]
Harini Amarasuriya: Sri Lanka’s New Prime Minister
Parliamentarian Dr. Harini Amarasuriya was sworn in as the new Prime Minister of Sri Lanka, today (24) at the Presidential Secretariat. She took the oath in the presence of President Anura Kumara Dissanayake. Additionally, the Cabinet of Ministers was appointed, and they are as follows: President Anura Kumara Dissanayake 01 Defence 02 Finance, Economic Development, […]
‘s Ratings: Political change unlikely to derail reform trajectory but underscores fiscal challenges
Moody’s Ratings suggests that the broad appetite for reforms will remain intact, and the agency does not foresee significant disruptions to the country’s reform agenda or macroeconomic policies, which include ongoing debt restructuring and structural adjustments under the International Monetary Fund (IMF) programme. Moody’s notes that while the reform agenda is expected to continue, some […]
” National Rating; Outlook Stable
Fitch Ratings has assigned Sri Lanka-based Bogawantalawa Tea Estates PLC a first-time National Long-Term Rating of ‘A(lka)’ with a Stable Outlook. Fitch has also assigned Bogawantalawa’s outstanding senior unsecured debentures a National Long-Term Rating of ‘A(lka)’. Bogawantalawa’s ratings are driven by the long-term structural decline at Sri Lankan tea plantations amid regulatory overhang on costs, […]