Category: Industry
Sri Lankan experts call for increased focus on global trade to drive economic growth
The country can achieve significantly higher economic growth supported by international trade. Sri Lanka to deepen trade ties with South Asian countries (Bangladesh, Pakistan, China, India) and increase access in East Asia (Thailand, Malaysia, Singapore). Expand into fast-growing regional markets like ASEAN and RCEP members. Attract Foreign Direct Investment (FDI) into […]
New data show massive, wider-than-expected global gender gap: World Bank
The global gender gap for women in the workplace is far wider than previously thought, a groundbreaking new World Bank Group report shows. When legal differences involving violence and childcare are taken into account, women enjoy fewer than two-thirds the rights of men. No country provides equal opportunity for women—not even the wealthiest economies. The […]
Electricity Tariff will be reduced by 21.9-pct from midnight today: PUCSL
The Public Utilities Commission of Sri Lanka (PUCSL) has approved the revision of electricity tariffs with effect from midnight today. The overall tariff reduction is 21.9 percent. The Final decision was reached after studying and reviewed the proposals and cost data submitted by the Ceylon Electricity Board (CEB) in this tariff revision, in accordance with […]
Ambitious scale-ups from South Asia encouraged to apply for UK’s new global tech awards
The UK Government is on the hunt to unearth the most promising tech scale-up companies across the world through the Unicorn Kingdom: Pathfinder Awards (UKPA). Building on the success of the UK’s Tech Rocketship Awards, UKPA will be the UK’s Department for Business and Trade’s (DBT) largest global awards for tech scaleup companies ever. Globally […]
Sri Lanka trade balance deteriorated by 3.6-pct in January 2024
The deficit in the merchandise trade account widened to US dollars 541 million in January 2024 from US dollars 445 million recorded in January 2023, mainly with higher increase in imports. In addition, trade deficit in January 2024 widened compared to the deficit of US dollars 487 million in December 2023. Earnings from merchandise exports […]
Sri Lanka headline inflation decelerates in February 2024 to 5.9-pct
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100)1 decelerated to 5.9% in February 2024 from 6.4% in January 2024. This deceleration in the headline inflation is broadly in line with the projections of the Central Bank of Sri Lanka (CBSL). Food inflation (Y-o-Y) accelerated to 3.5% […]
Sri Lanka Purchasing Managers’ Index for Construction indicates expansion in Jan
Sri Lanka Purchasing Managers’ Index for Construction (PMI – Construction) indicates an expansion in construction activities in January 2024, as reflected by the Total Activity Index, which recorded an index value of 52.9. This marks the first time that the index exceeded the neutral threshold since January 2022. Many respondents mentioned that new construction work […]
Platned expands operations in Sri Lanka
Platned, a leading technology solutions provider headquartered in the United Kingdom, recently expanded its operations in Sri Lanka with a new state-of-the-art office. The company recognizes the potential of the skilled workforce in Sri Lanka and aims to leverage this talent pool to strengthen its Global Support Team. By hiring 100 new members over the […]
SriLankan Aviation College gains NVQ accreditation
SriLankan Aviation College, the training arm of SriLankan Airlines, successfully gained NVQ Level 6 status under the National Vocational Qualifications (NVQ) Framework. The NVQ accreditation will increase the national recognition for the programmes offered by SriLankan Aviation College and enhance the career prospects of graduates by validating their occupational competence. The NVQ accreditation certifies that […]
‘s Ratings on Reorganisation
Fitch Ratings has withdrawn Sri Lanka Insurance Corporation Limited’s (SLIC) ‘CC’ Insurer Financial Strength (IFS) Rating on Rating Watch Negative and ‘A(lka)’ National IFS Rating on Stable Outlook. Fitch is withdrawing the ratings of SLIC as SLIC is undergoing a reorganisation. Accordingly, Fitch will no longer provide ratings or analytical coverage for SLIC. SLIC transferred […]
Sri Lanka – Vietnam explore opportunities in agricultural, forestry and fisheries: CCC
The Ceylon Chamber of Commerce hosted a high-level delegation from the Ministry of Agriculture and Rural Development of Vietnam, engaged in a working visit to strengthen bilateral relations between Vietnam and Sri Lanka, in the fields of agricultural, forestry and fishery. Organized in association with the Sri Lanka – Greater Mekong Business Council and the […]
‘s rating
Fitch Ratings has withdrawn Home Lands Skyline (Pvt) Ltd.’s (HLSL) National Long-Term Rating. Prior to the withdrawal, HLSL’s National Long-Term Rating was ‘A(lka)’ with a Negative Outlook. Fitch is withdrawing the rating because the agency does not have sufficient information to maintain the rating. Therefore, Fitch will no longer provide analytical coverage or ratings for […]