Category:
WB supports safe, climate-resilient transport connectivity to strengthen agricultural supply chains
The World Bank’s Board of Executive Directors today approved $500 million in financing for Sri Lanka to provide safe, climate-resilient roads to connect agricultural supply chains through the Inclusive Connectivity and Development Project. This project is expected to benefit around 16 million people living in rural communities in selected districts of Sri Lanka. In Sri Lanka, […]
Central Bank requests Govt to tax export profits at 28-pct where forex is not repatriated & converted
Sri Lanka’s Central Bank requests the government to tax profits of exporters at 28 percent and not 14 percent where forex is not repatriated & converted. Unveiling the Six-Month Road Map for Ensuring Macroeconomic & Financial System Stability, Governor Ajith Nivard Cabraal said that there will be specified limits. Service related foreign exchange inflows will […]
SL must increase its efforts to protect and promote human capital of elderly :World Bank
In Sri Lanka, 12.3% of the population is aged 60 or older, making it the country with the highest proportion of older adults in South Asia. The Western province has the highest percentage of the country’s elderly at 31.7%, while the Northern Province has the least at 4.8%. In just 15 years, more than one in […]
VIDEO: 6-Month Road Map for Ensuring Macroeconomic & Financial System Stability
The Six-Month Road Map for Ensuring Macroeconomic & Financial System Stability
JKH: CSE disclosure regarding development of West Container Terminal-1 in Colombo Port
We write with reference to our disclosure dated 15 March 2021 regarding the JKH investment in the development of the West Container Terminal-1 (WCT-1) in the Port of Colombo, as the local partner of Adani Ports and Special Economic Zone Limited (APSEZ). Pursuant to the receipt of the said LOI on 15 March 2021 from […]
Quality characteristics of Ceylon Tea record noticeable decline due to fertilizer ban
Any decline in the quality of Ceylon Tea will have serious consequences, where the Sri Lanka market share in a global arena would fall and as a result, a drop in exports and foreign exchange earnings is inevitable, Chairman of Colombo Tea Traders’ Association (CTTA) said. Delivering the Chairman’s Speech at the virtual Annual General […]
Sakurai Aviation Academy produces youngest female private pilot license holder
Breaking all the stereotypes and barriers related to aviation training in Sri Lanka, Sakurai Aviation Academy has produced the Youngest Female Private Pilot License (PPL) Holder at the age of 17. She is also one of the very few pilots in the world to achieve the said feat. “I have been an aviation enthusiast since […]
ADB Annual Meeting 2022 in Sri Lanka; MoU signed
Sri Lanka’s government and the Asian Development Bank (ADB) today entered into a Memorandum of Understanding to hold the 55th Annual Meeting of the ADB in Colombo, Sri Lanka next year. It was signed on behalf of the Asian Development Bank by its Director General, South Asia Department, Kenchi Yokoyama, and SR Attygalle on behalf […]
CBSL to announce 6-month road map for ensuring macroeconomic & financial stability on Friday
The Central Bank is to announce “A Six-Month Road Map for Ensuring Macroeconomic & Financial System Stability” on Friday, 01 October 2021. Accordingly, Governor Ajith Nivard Cabraal will announce the road map to the officials of the Government and the financial sector institutions. Due to the prevailing COVID-19 pandemic situation and in keeping with required […]
GSP+ Withdrawal: How Would it Impact Sri Lanka’s Economy?
By Asanka Wijesinghe and Eleesha Munasinghe: Sri Lanka’s preferential access to the vital European Union (EU) market faces fresh challenges after the European Parliament’s special resolution adopted in June 2021. The resolution calls for an assessment on “whether there is sufficient reason, as a last resort, to initiate a procedure for the temporary withdrawal of […]
Sampath Bank payment gateway enhances eCommerce with acceptance of UnionPay
Sampath Bank today announced that the Sampath Bank Payment Gateway, the only online solution which provides the most cost-effective and secure payment authorization and processing service, now accepts UnionPay credit and debit cards. This new development in the eCommerce industry of Sri Lanka will further empower merchant websites and consumers alike, with a wider range […]
Not a single instance of wrongdoing in forensic audits by Gov Cabraal
The Auditor General was not given the assignment to carry out the Forensic Audits, a recently released statement from the Central Bank said. “But instead, two dubious Accountancy firms from India who were under a serious cloud in India were entrusted the task at a huge fee,” it added. “After doing the audit, Forensic Auditors […]