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Advisory Council appointed for Automobile Assembling & Components Manufacturing Industries
Minister of Industries, Wimal Weerawansha recently appointed the chairman and members of the Advisory Council of the Automobile Assembling and Automobile Components Manufacturing Industries in Sri Lanka. The appointments were made as part of the programme to focus greater attention on the twenty industries coming under the purview of the Ministry. The council consists of […]
Relief package supports SL economic recovery but compounds govt’s fiscal challenge: Moody’s
The fiscal relief package recently introduced in Sri Lanka reduces the scope for fiscal and debt consolidation at a time when fiscal flexibility is already severely limited by the large share of interest payments in government revenue, Moody’s said in a recent analysis. According to Moody’s, this funding package with reallocations from the budget in […]
Chinese FM assures to help Sri Lanka; signs agreement on Economic & Technical Cooperation
Chinese State Councillor and Foreign Minister WANG Yi assures that China will continue to do its best to provide all the necessary help and support to Sri Lanka. The matter was discussed during the bilateral meeting between Prime Minister Rajapaksa and the visiting Foreign Minister at Temple Trees. Following a special request by Prime Minister […]
Chinese FM calls on President; restructuring debt repayments, concessional trade-credit scheme discussed
A meeting between the Minister of Foreign Affairs of China and Member of the State Council Wang Yi, and President Gotabaya Rajapaksa was held at the Presidential Secretariat, today (09) further strengthening the 65 years of diplomatic relations between China and Sri Lanka. Warmly welcoming the Chinese Foreign Minister, President Rajapaksa recalled the historic close […]
‘s Register
The Hambantota International Port (HIP) has received FSS certification (Fitness for Service) for their tank farm facility. The certification was issued by Lloyd’s Register (LR), the World’s leading provider of classification, compliance and consultancy services to marine and offshore industries. This is a landmark achievement that will further strengthen the HIP brand in the maritime […]
Global body validates CA Sri Lanka’s qualifications
The highly sought after Chartered Accounting qualification offered by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) was further reinforced after a leading international body recognised the Associate Chartered Accountant (ACA) qualification as comparable to a Master’s Degree standard, while the Certified Corporate Accountant (CCA) qualification was recognised as a qualification comparable […]
Not mandatory for worker remittances to convert into LKR; CBSL asks banks to strictly adhere to rules
Central Bank emphasizes that it is not mandatory for Sri Lankans working abroad to convert their remittances into LKR and migrant workers who channel their earnings through Licensed Banks and other formal channels may even hold such funds in foreign exchange at any commercial bank. Releasing a statement, the bank said that the recent rules […]
Gold reserves down by 54-pct in December; USD 3.1bn reserves include Chinese swap: CBSL
Sri Lanka’s official reserve assets were 3.1 billion US dollars (USD 3,137.6 mn) by the end of December, up from 1.6 billion US dollars in November, the latest Central Bank data showed. Accordingly, the official reserves include the swap facility signed with the People’s Bank of China (PBoC) of RMB 10 billion (equivalent to approximately […]
Daraz reinvents: A new perspective for SL’s e-commerce
Daraz is entering a new phase of its journey towards creating exceptional user experiences and developing a digitized ecosystem. Embarking on an exciting initiative to relaunch its brand, Daraz hopes to reaffirm its position in the lives of e-commerce users across the region. Alongside tech leaders across the globe, Daraz hopes to add a new […]
National single window: Paving way for paperless trade
By Mithara Fonseka and Kavishka Indraratna In 2016, Sri Lanka ratified its Trade Facilitation Agreement (TFA) with the WTO and in 2017 a Secretariat was established for the National Trade Facilitation Committee to drive much needed trade reforms in the country. Currently, the rate of Sri Lanka’s implementation commitments under TFA stands at 34.9% with […]
15-pct food price increase in a single month; Advocata
Advocata’s Bath Curry Indicator (BCI) , which tracks the monthly changes in the retail price of food, recorded an increase of 15% from November 2021 to December 2021. Much of this increase is driven by rising prices of vegetables. 100g of Green Chillies at Rs18 increased to Rs 71. This is a 287% increase in […]
‘s Foreign Minister
Trade and investment, political cooperation, defense initiatives, tourism and labour issues dominated the discussion in Seoul, Republic of Korea between Sri Lankan Foreign Minister Prof. G. L. Peiris and Minister of Foreign Affairs of the Republic of Korea Chung Eui-yong. Minister Prof. Peiris paid tribute to the multi-faceted relationship which had developed between the two countries during their 44-year relationship, and its present robust character. Minister Peiris […]