Category: Other
Fitch 2023 Outlook: Most Sovereign Sector Outlooks Deteriorating, Global Rating Prospects More Balanced
Fitch Ratings’ ‘deteriorating’ 2023 sector outlook for global sovereigns reflects weaker global economic growth, rising funding costs and pressures from high inflation. The overall balance of sovereign rating outlooks is near to its long-term average, but further monetary policy tightening and elevated geopolitical tensions represent key challenges this year. Five of eight sovereign regions have […]
All paddy farmers to receive free TSP fertilizer in 2023 through USAID & FAO
The Food and Agriculture Organization of the United Nations (FAO), with funding through the United States Agency for International Development (USAID), will distribute 36,000 metric tonnes of Triple Super Phosphate (TSP) fertilizer to all paddy farmers in Sri Lanka through the Ministry of Agriculture. The amount of TSP provided per farmer will be determined based […]
Tribute: Dinesh Schaffter (1971-2022)
December 20, 2022 (LBO) – There is a sadness that has permeated Sri Lanka’s business community and my circles of friends in the last few days, as we try and take stock of the untimely and horrific demise of Dinesh Schaffter. There is something missing in my soul these last few days as I remember […]
Cabinet nod to new Central Bank of Sri Lanka bill
Sri Lanka’s Cabinet of Ministers has approved the new Central Bank of Sri Lanka bill which will be presented in Parliament next year. The original bill gazetted in November 2019 has been improved by incorporating new amendments in order to be able to perform the work of the Central Bank more efficiently and effectively to […]
Uber turns Seven in Sri Lanka, Covers over 555 million km in Trips
Uber completed seven years of operations in Sri Lanka and shared some interesting numbers as it touched a new milestone. In its seven years of operations, Uber has completed over 555 million kilometers in Uber trips around the island nation. That’s enough kilometers to travel to the moon from Earth and back 725 times! With […]
Romesh de Silva PC Opines on Ranil Wickremesinghe After 50 Years at the Bar (full speech)
December 8, 2022 (LBO) – Sri Lanka’s leading Silk Romesh de Silva PC delivered a speech felicitating President Ranil Wickremesinghe at an event in recognition of the President’s 50 years at the bar. The full speech is reproduced below: Today we are felicitating our president and deservedly so. The stated purpose is his completion of […]
World Growth Forecasts Cut Again as Inflation Fight Intensifies
World GDP forecasts for 2023 have been revised down again as central banks intensify their fight against inflation and the outlook for China’s property market deteriorates, says Fitch Ratings in its latest Global Economic Outlook (GEO) report published today. Fitch now expects world GDP to grow by 1.4% in 2023, revised down from 1.7% in […]
Death of Legendary Tennis Coach Nick Bollettieri (1931-2022)
December 6, 2022 (LBO) – Nick Bollettieri, perhaps the most important figure in the history of Tennis coaching, has passed away at age 91. Bollettieri was the one of the pioneers of the ‘tennis academy’ concept, where the best players in the world would come together and train as well as school in the same […]
United States Provides 9,300 Metric Tons of Fertilizer to Paddy Farmers in Sri Lanka
The United States officially handed over 9,300 metric tons of urea fertilizer to the Ministry of Agriculture to distribute to more than 193,000 smallholder paddy farmers in Jaffna, Mullaitivu, Mannar, Vavuniya, Anuradhapura, Trincomalee, Batticaloa, and Monaragala districts. The fertilizer, procured by FAO with funding from the U.S. Agency for International Development (USAID), is the first […]
Five Thousand hectares in Monaragala, Kotiagala for farming on a temporary basis
A discussion was held at the Presidential Secretariat yesterday (01) under the patronage of President’s Senior Adviser on National Security and Chief of Presidential Staff Sagala Rathnayake on the utilization of land in Monaragala, Kotiyagala and Kabilitta areas for farming to face the food crisis in the future. These lands were previously reserved for reforestation. […]
Framing a fresh narrative of South Asian Luxury at CFW
Luxury edition by CFW focuses on refreshing the luxury narrative which is relevant to Sri Lanka and South Asia. This narrative is presented in a conversation on sustainable luxury called Luxury Talks. ‘Luxury Talks’ is set to be held on the 16th of November 2022, at 6.45PM at Galle Face Hotel’s 1864 fine dining restaurant. […]
The world population reaches 8 billion people
Our world is approaching a landmark moment in human history. On 15 November 2022, the global population is projected to reach 8 billion people. Thanks to science, technology, and groundbreaking innovations, we now live longer and healthier. It took the human family 125 years to get from 1 billion to 2 billion. But only 12 […]