Category: Economy and Markets
Chef Gary Mehigan explores Sri Lanka’s cuisine, culture and scenery through Cinnamon Hotels & Resort
Gary Mehigan, the distinguished British-Australian celebrity chef and former original judge of MasterChef Australia, embarked on a profound weeklong exploration through the enchanting landscapes of Sri Lanka. This immersive journey followed a remarkable 3-day culinary experience hosted in collaboration with Cinnamon Hotels & Resorts. Immersing himself in the essence of Sri Lankan cuisine, culture, and […]
SriLankan Airlines welcomes another aircraft to its fleet
SriLankan Airlines recently welcomed the arrival of a wide-bodied Airbus A330-200 aircraft wet-leased from Air Belgium, giving a further boost to its fleet. The aircraft has 22 Business Class and 240 Economy Class seats and is scheduled to operate on the Frankfurt, Dhaka and Dubai routes with effect from 29 December 2023. A second aircraft […]
Janashakthi Group announces transfer of 25% of First Capital Holdings shares to Janashakthi Insurance
Janashakthi Group (JXG), a leading conglomerate in financial services with a presence in the Insurance, Finance, and Investment sectors, announces a strategic move to enhance Group synergies through the transfer of 25% of First Capital Holdings PLC shares to Janashakthi Insurance PLC. This transfer is aimed at fostering a more cohesive and integrated approach across […]
Sri Lanka Revises VAT Exemptions Starting 2024 (Complete List)
The Inland Revenue Department of Sri Lanka has announced an update to the list of goods and services exempted from Value Added Tax (VAT) beginning January 1, 2024. The changes are part of amendments to the VAT Act passed in 2023. Key highlights of the revised VAT exemptions include: Several essential food items like wheat, […]
Sri Lankan SMEs Get Export Boost from EDB Coaching Programme
Recognizing the importance of small and medium-sized enterprises (SMEs) to Sri Lanka’s export potential, the Export Development Board (EDB) recently concluded a six-week coaching programme designed to equip them with the tools and strategies to enter international markets. The “Innovative Export Marketing Planning and Market Pitching Programme” saw 25 promising SMEs participate in workshops, individual […]
Sri Lanka and DFC Discuss Deepening Collaboration for Economic Growth
Following a significant investment in the Colombo Port expansion, Sri Lanka seeks to broaden its partnership with the U.S. International Development Finance Corporation (DFC). Ambassador Mahinda Samarasinghe met with DFC CEO Scott Nathan on December 8th to explore avenues for deeper collaboration aimed at boosting Sri Lanka’s economic growth with potential areas of collaboration, including […]
Sri Lankan Small Businesses Seek Breathing Room: Parate Law Suspension Talks Underway
A crucial meeting is set to take place tomorrow (21) at the Jasmine Hall, Bandaranaike Conference Hall, Colombo, between the Minister of Justice, Wijeyadasa Rajapakshe, Plantation Industries Minister Dr. Ramesh Pathirana, and Sri Lankan small businessmen. The discussion will focus on the temporary suspension of the seizure of property under Parate executions. The Sri Lankan […]
World Bank Releases Additional USD250 Million for Sri Lanka to Sustain Economic Reforms
The World Bank released the second tranche of the US$500 million Sri Lanka Resilience, Stability and Economic Turnaround (RESET) Development Policy Operation (DPO), considering the continued satisfactory progress made by government with the reform program. The RESET DPO, which provides budget support to the government was approved on June 28, 2023. This is the first in […]
Standard Chartered Sri Lanka strengthens regional ties with Correspondent Banking Conference 2023
Standard Chartered Sri Lanka announced the conclusion of its Correspondent Banking Regional Conference for 2023, held at the Galle Face Hotel on November 23 and 24. Attended by senior representatives from more than 55 banks across the ASEAN and South Asian region, the event served as a pivotal platform for sharing insights, fostering collaboration, and […]
99x leadership transition: Mano Sekaram steps down, new CEO Hasith Yaggahavita
99x, the global technology services company rooted in Sri Lanka, proudly announces a leadership transition, signifying a pivotal moment in its journey. After a distinguished tenure of 20 years, Founder and CEO, Mano Sekaram, will step down from the role of Chief Executive Officer, with Hasith Yaggahavita set to assume the position of CEO effective […]
‘s illicit markets
Research Intelligence Unit (RIUNIT) continues its groundbreaking efforts in shedding light on critical policy matters concerning Sri Lanka’s economic landscape. Their latest series of reports highlights the significance of illicit markets that operate within and beyond the island’s borders. Focused on combating illicit markets and their impact on the nation’s economy, RIUNIT’s latest policy papers […]
Gavinro Investments introduces Sri Lanka’s first 300KM range EV commercial vehicle
Gavinro Investments, a distinguished player in the automotive space for over four decades, has joined hands with Sokon Singapore, a global leader in electric commercial vehicles to launch Sri Lanka’s first 300KM Range Electric Commercial Vehicle with a payload of 1.2 tonnes. The joint venture is founded on the shared vision of supporting the Sri […]