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Foreign Minister discusses range of projects with Korean Speaker
Foreign Minister Prof. G.L. Peiris hosted a Lunch on 20 January, 2022 in honour of the visiting Korean Delegation headed by the Speaker of the National Assembly of the Republic of Korea, Park Byeong-Seug. During the lunch, the two sides held detailed discussions on ways and means to further enhance bilateral cooperation between Korea and Sri Lanka. Extending the Government’s deep appreciation […]
Opinion: Special goods and services tax, Issues and concerns
Dr Roshan Perera & Naqiya Shiraz Background The new bill titled ‘Special Goods and Services Tax’ was published by gazette dated 07 January 2022.[1] The Special Goods and Services Tax (SGST) was originally proposed in Budget speech 2021 but was not implemented. It has once again been presented in Budget 2022. The SGST aims to […]
CEAT tyres chosen as original equipment for Lanka Ashok Leyland commercial vehicles
CEAT Kelani Holdings has moved into the new year with the added impetus of its appointment as an Original Equipment Manufacturer (OEM) for a range of heavy-duty trucks, tippers and light commercial vehicles assembled in Sri Lanka by Lanka Ashok Leyland PLC (LAL), a joint venture company of Ashok Leyland India. Under this OEM agreement, […]
CBSL raises policy rates by 50bps; urges banks to swiftly increase deposit interest rates
Sri Lanka’s Central Bank has decided to adopt several policy measures with a view to strengthening macroeconomic stability. Accordingly, in consideration of the current and expected macroeconomic developments, the Monetary Board at its meeting held on 19 January 2022, has decided to: a) increase the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility […]
Gamini Senarath appointed new Secretary to President, Anura Dissanayake new Secretary to PM
Gamini Senarath, a senior official of the Sri Lanka Administrative Service, has been appointed as the new Secretary to the President. The letter of appointment was handed over by the President to him at the Presidential Secretariat this morning (19). Meanwhile, D.M. Anura Dissanayake has been appointed as the new Secretary to the Prime Minister […]
Women in Management, IFC and Government of Australia recognise inspiring women from Sri Lanka and Maldives
The ‘Top50’ Professional and Career Women Awards 2021 – hosted by Women in Management (WIM), in collaboration with Women in Work, a partnership between IFC and the government of Australia – recently honoured inspiring professional and career women in Sri Lanka and Maldives making a mark in their respective fields. The 11th edition of the […]
‘s INSEE Cement and IUCN partner to support biodiversity conservation
Siam City Cement Group (SCCC Group) and the International Union for Conservation of Nature (IUCN) extended their partnership for another three years by formalizing a new Memorandum of Understanding (MoU) recently to support the implementation of the INSEE Sustainability Ambition 2030 targeting Net Positive Impact (NPI) on biodiversity at sites where SCCC Group operates. The […]
Term of Small Tea & Rubber Estate Revitalization Loan Program extended
A rural finance program has been implemented during the period 2019-2021 for revenue generation and market diversification of targeted beneficiaries under the Small Tea and Rubber Estate Revitalization Project funded by the International Monetary Fund for Agricultural Development. Due to the Covid 19 epidemic situation, the project has not been able to achieve the expected […]
Leading German importer urges agri-product exporters to practice superior packaging to capture European markets
Jan Paul Bethke, a leading German importer of Sri Lankan fruits and tea, urged Sri Lankan agri-product exporters to practice effective and superior packaging if they are to be successful in terms of capturing markets in Europe. “If you package your product well, include a QR code (incorporating extensive details such as the farmer who […]
Sri Lanka pays USD 500mn sovereign bond matured today: CB Governor
The Governor of Sri Lanka’s Central Bank Ajith Nivard Cabraal states that Sri Lanka has paid the USD 500 million sovereign bond that matured today (18). Meanwhile, Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’.
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Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’. Fitch typically does not assign Outlooks or apply modifiers for sovereigns with a rating of ‘CCC’ or below. Related: S&P downgrades Sri Lanka; Central Bank disputes
We hope to transform ICT & BPM businesses into USD 3bn export sector soon, President assures Parliament
Transforming future Sri Lanka into a technologically driven country, the government hopes to transform ICT / BPM businesses into a USD 3 billion export sector soon, addressing the Parliament, President Gotabaya Rajapaksa said. Ceremonially opening the 2nd Session of the 9th Parliament on Tuesday he said that the Government is using state-of-the-art technology in the […]