Category: Economy and Markets
Sri Lanka on path to establish Environment Management Effectiveness Tracking System
The Presidential Secretariat Support Unit, in collaboration with the Climate Change Office of the Presidential Secretariat and the Ministry of Environment, successfully held the inaugural consultation for the Sri Lankan Environment Management Effectiveness Tracking System (SL EMETS) at the Hilton, Colombo on June 24, 2024. The event brought together key stakeholders, scientists, and policymakers to […]
Unlocking Economic Potential: Why Debt Restructuring Alone Won’t Suffice Without SOE Reforms
The Advocata Institute held a press briefing titled “Unlocking Economic Potential: Why Debt Restructuring Alone Won’t Suffice Without SOE Reforms” was held on the 17th of July,2024 at Lavender Hall, BMICH. The event brought together key speakers Shihar Aneez (Senior Financial Journalist), Rehana Thowfeek (Research Consultant to Advocata Institute), and Dhananath Fernando (CEO of Advocata […]
Opportunities for Companies to raise debt capital through sustainable bonds for greener future
The Securities and Exchange Commission of Sri Lanka (SEC) and The Colombo Stock Exchange (CSE), in collaboration with the Asian Development Bank (ADB) hosted an issuer forum titled “Towards a Greener Horizon: Unlocking Opportunities through Sustainability Bonds” recently in Colombo. The forum was aimed at enhancing awareness and building capacity among stakeholders including representatives from […]
PRASL Masterclass highlights future of reputation management
The Public Relations Association of Sri Lanka (PRASL) hosted a sold-out full-day workshop, “The Pursuit of Reputation Masterclass,” featuring esteemed industry experts Amith Prabhu and Sujit Patil. This event provided profound insights into the complexities of reputation management in the modern Public Relations (PR) landscape. Amith Prabhu, a pioneering public relations professional with two decades […]
JAAF welcomes electricity tariffs reduction :Calls for continued energy policy reforms
The Joint Apparel Association Forum (JAAF) welcomed the recent decision by the Public Utilities Commission of Sri Lanka (PUCSL) to implement a 25.3 percent reduction in industrial electricity tariffs, parallel to a 27 percent reduction for domestic customers and a 22.5 percent overall reduction effective from July 16, 2024. In addition to easing the burden […]
PMI indicate expansions in both manufacturing and services activities in June 2024
Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 56.6 in June 2024, indicating an expansion in manufacturing activities. All the sub-indices, except for employment, remained above the neutral threshold during the month. The expansion in New Orders and Production was mainly due to the growth in the manufacture […]
‘s debt restructuring deal with bondholders, says IMF
The International Monetary Fund (IMF) is currently evaluating Sri Lanka’s recent debt restructuring deal with bondholders, according to Julie Kozack, Director of the Communications Department at the IMF. The IMF highlighted that their team is assessing whether the agreed terms align with the parameters set forth in their program for Sri Lanka. This assessment will […]
Ceylon Chamber hosts ADB consultation mission to strengthen agri-food value chains in Sri Lanka
As part of efforts to address the urgent need for reforms in Sri Lanka’s agriculture sector, the Ceylon Chamber hosted a consultation mission from the Asian Development Bank (ADB). The mission aims to prepare an investment project to bolster Sri Lanka’s agribusiness sector through targeted investments, technical support, and policy reforms. The Ceylon Chamber brought […]
‘s Colombo office
Delmege Lifestyle Cluster, a leader in innovative and sustainable interior design solutions, has been awarded the interior fit-out project for LankaPay’s office premises at No.61 Dharmapala Mawatha, Colombo 7. This project will transform the nine-floor office premises into a functional, sophisticated, and modern complex that reflects its brand identity and futuristic digital landscape. Agreement was […]
SL’s IT and BPM sector urges reconsideration of tax measures affecting export services: SLASSCOM
In light of the recent communication regarding the removal of the exception on the export of services, we, the Sri Lanka Association of Software and Services Companies (SLASSCOM), the Federation of Information Technology Industry Sri Lanka (FITIS), the BCS Sri Lanka Section (BCS), and the Computer Society of Sri Lanka (CSSL) share our collective thoughts […]
Sri Lanka Seeks Commercial Loan Relief to Align with IMF Requirements: CBSL Governor
Sri Lanka is actively negotiating with commercial creditors for debt relief similar to that achieved with bilateral creditors, Governor of the Central Bank of Sri Lanka Dr Nandalal Weerasinghe said. This move aligns with International Monetary Fund (IMF) criteria for Sri Lanka’s economic recovery plan. “We have requested comparable loan concessions from commercial creditors,” in […]
Sri Lanka urged to tap sustainable bonds for economic and environmental progress: ADB
The Asian Development Bank (ADB) urged Sri Lanka to ramp up its growth efforts while tackling climate change challenges, emphasizing the potential of green bonds to meet the country’s financial needs. ADB Country Director Takafumi Kadono highlighted that public sector funding alone is insufficient for these efforts, making it essential to mobilize private financing through […]