Author: lbostgadmin
French President Emmanuel Macron to undertake a visit to Sri Lanka
French President Emmanuel Macron will undertake a visit to Sri Lanka on 28 July 2023 following the visit to the South Pacific region. This historic visit is the first ever by a French President to the country. The official discussion between the two Heads of State will centre on strengthening bilateral relations in the 75th anniversary […]
Sri Lanka apartment selling prices show consistent increase in last four months: RIUNIT
Sri Lanka’s real estate expert Research Intelligence Unit says that since the beginning of 2023, the apartment selling price LKR per SqFt has remained steady and in the four months ending June 2023, the suburban apartment selling prices US$ per SqFt have shown a consistent increase. During the eight years ending 2023, RIUNIT says the […]
‘s path to sustainable growth: Embracing a social market economy
● Sri Lanka’s Economic Challenge: A stark contrast between Tamil Nadu’s expected growth of 14% and Sri Lanka’s negative 3.5% this year. ● Ambitious Goal of High-Income Country: President’s vision to achieve high-income status by 2048, requiring 6.5% annual growth from now onwards. ● Bridging the Skill Gap: Concerns over the volume of skilled labor produced in India, […]
Sri Lanka ratifies Comprehensive Nuclear Test Ban Treaty
Sri Lanka deposited the instrument of ratification of CTBT with the UN Office of Legal Affairs (UNOLA) on 25 July 2023 at the UN Headquarters in New York becoming the 178th State to ratify the CTBT. By depositing CTBT instrument of ratification, Sri Lanka’s status as a signatory is elevated to a complete State Party to […]
Another 7,000 Sri Lankans will get work visas this year: Korean Ambassador
Ambassador of the Republic of Korea, Miyon Lee said that during the second half of this year, 7,000 more Sri Lankans will be issued with visas to work in Korea. There are 25,000 Sri Lankan workers employed in Korea and by the end of this year it will be increased to 32,000, she said. The […]
JKH records EBITDA of Rs.9.23Bn in Q1 2023/24
Summarised below are the key operational and financial highlights of our performance during the quarter under review: Group PBT at Rs.1.40 billion in the first quarter of the financial year 2023/24 is a decrease over the Rs.14.80 billion recorded in the previous financial year. The first quarter of the previous year included Rs.10.12 billion […]
New UN Resident Coordinator in SL commits to work towards 2030 agenda for sustainable development
Newly appointed United Nations Resident Coordinator in Sri Lanka, Marc-André Franche, presented his letter of credence to President Ranil Wickremesinghe, Monday and expressed his appreciation for the longstanding partnership between the UN and Sri Lanka. He also reaffirmed the commitment of the UN Country Team to continue working together with the Government and people of […]
New Order issued relaxing certain limitations imposed on outward remittances of foreign exchange
With a view to assist and maintain the financial system stability by minimizing the pressure on the exchange rate and preserving the foreign currency reserve position of the country, the Minister of Finance has issued Orders under Section 22 of the Foreign Exchange Act, No. 12 of 2017 (FEA) since 02.04.2020, to temporarily suspend/limit certain […]
EDB emphasizes dangers of foreign buyers entering Sri Lanka Gem Trade, illegally
The Export Development Board (EDB) Advisory Committee on Gems, Diamonds & Jewellery sector has emphasized the importance of making Sri Lankan Gem & Jewellery traders more competitive and simplifying policy measures during the 7th Advisory Committee Meeting held recently. The renowned China Fort Gem Market located in Beruwala and Rathnapura are considered as bustling marketplaces […]
” Investment, Liquidity Pressures: Fitch
The Sri Lankan government’s debt restructuring plan is likely to reduce investment and liquidity risks for domestic insurers, Fitch Ratings says. Fitch expects pressure on insurers’ investment and capital profiles to ease as the proposed plan will not have direct impact on the local-currency government debt holdings of insurers, banks and non-banking financial institutions. Nonetheless, […]
CFA Society Sri Lanka hosts CEO forum ‘Rebooting Sri Lanka Economy”
A CEO Forum organised by the CFA Society Sri Lanka (CFASSL) was held in Colombo recently with a focus on ‘Rebooting the Sri Lankan Economy – Post-Domestic Debt Optimisation’. The event was attended by regulators, senior government officials, business leaders, and CFA Charterholders. The forum was aimed at fostering a constructive dialogue among regulators and […]
‘s first fuel shipment to arrive in Aug
The first fuel shipment of China’s Sinopec, which signed a contract to enter the Sri Lankan fuel market, will arrive in the country early next month, State Minister of Power and Energy D. V. Chanaka stated. Meanwhile, steps will be taken to replace the fuel price formula with a maximum retail price, thereby creating a […]