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Monday, 26 Jul 2021

News

LAUGFS confirms temporary suspension of LPG imports

2021-07-25 07:22:00

LAUGFS Gas PLC finally admitted the decision to temporarily suspend the import and distribution of liquefied petroleum gas (LPG) and warned of a likely shortage in the local market...


New UK scheme to drive trade with Sri Lanka and boost employment

2021-07-25 07:21:00

The UK Government has launched consultations on a new scheme which will help drive trade with Sri Lanka and boost jobs...


SL embroils in economic crisis with heavy debts and low reserves

2021-07-25 07:20:00

Sri Lanka is taking a sticking plaster approach to settle upcoming massive foreign debt repayment by using available foreign reserves without a credible debt reduction plan in place, several economic experts say...


Treasury keeps an eye on financial management in ministries

2021-07-25 07:18:00

The Finance Ministry will be implementing a new management procedure to streamline financial functions of 28 ministries and 40 state ministries giving priority to prudent expenditure control and minimising waste and eliminating corruption...


SLtea crop up 25% 1H despite 5% dip in June

2021-07-24 11:01:00

Tea production in the first half of this year has grown by 31 million kilos or 24% to 161.49 million, Forbes and Walker said...


Fitch Ratings warns of repercussions in import restriction

2021-07-24 10:47:00

Fitch Ratings yesterday warned that Sri Lankan corporates could face rating pressure should the Government further restrict imports amid weakening external finances...


India and Sri Lanka explore the digital marketing opportunities

2021-07-24 10:47:00

India and Sri Lanka are now exploring digital marketing opportunities available for the Sri Lankan exporters in the Indian market via the highly reputed e-commerce platform; amazon.in...


US shied away from Sri Lanka under corrupted regime

2021-07-24 10:46:00

US investors shied away from Sri Lanka under the present Rajapaksa regime‘s administration me tainted with full of corruption, deception, nepotism, favouritism and the potential for contract repudiation, cronyism, and de facto investors shied or de jure expropriation., US State Department announced...


CB temporarily suspends 2021 interim or final cash dividends by banks

2021-07-23 07:26:00

The Central Bank has made another valiant attempt to decipline banks by issuing tough regulation to maintain appropriate levels of liquidity and capital buffers...


Tax breaks, other relief granted for doing business in Sri Lanka

2021-07-23 07:24:00

New entrepreneurs are being encouraged in doing business by offering unprecedented tax breaks and other concessions and introducing financial sector reforms, Finance Ministry sources divulged...


Government demanded to pay due respect for teachers

2021-07-23 07:22:00

While condemning the action of government authorities for their disgraceful attitude and slandering of teachers in the country, Sri Lanka Education Forum has demanded the government to pay due respect and recognition to the teaching profession...


Government assures that there was no shortage of LPG

2021-07-23 07:21:00

The Government yesterday assured that there would be no shortage of LPG and that prices would not be increased despite world market rates having risen sharply...


Economic revival retards amidst accommodative monetary policy

2021-07-23 07:19:00

Government’s accommodative monetary policy stance implemented by the treasury continued in the first half of 2021 to support economic revival through the acceleration of credit to the private sector for the investment in productive sectors of the economy, a finance ministry report divulged...


India and Sri Lanka discuss economic development In the East

2021-07-22 07:25:00

Sri Lanka and India held official level discussions relating to opportunities for investments from India in the Eastern Province as well as joint efforts that could be undertaken for economic development of the region, Indian High Commission..


Online platform launches in China to promote SL exports, investments

2021-07-22 07:24:00

The Sri Lanka Embassy in Beijing assisted Hairong Technology Co. Ltd. to organise the introduction of the Sri Lanka Online Platform, along with an investment promotion seminar (SEIC 2021) at the Embassy on 11 July...


SL treasury current account records a deficit

2021-07-22 07:23:00

Sri Lanka is targeting 2.5 billion US dollars in foreign direct investments in 2021, with several commitments already being made, State Minister for Finance and Capital Markets, Nivard Cabraal said...


Sri Lanka policy and institutional reforms get underway

2021-07-22 07:21:00

Sri Lanka government will be expediting long due policy and institutional reforms for its implementation as soon as possible despite Covid-19 third wave obstacles, official sources divulged...


Customs launches LankaSign digital signatures

2021-07-21 07:30:00

Sri Lanka Customs in yet another landmark initiative towards making the import and export process seamless has partnered with LankaClear to introduce LankaSign digital signatures for online document submission...


US grants $ 150Mn to DFCC Bank for MSME sector resilience

2021-07-21 07:30:00

The United States is contributing to Sri Lanka’s economic resilience through the provision of a financial facility of USD 150Mn in response Central Bank’s decision to encourage banks to borrow abroad and is also offering free foreign exchange cover through a zero-cost swap, in a bid to boost forex inflows to the country...


Sri Lanka’s Manufacturing and Services improved in June

2021-07-21 07:23:00

Manufacturing and Services activities improved in June as per the statistics and data compiled by the Central Bank...


Finance Ministry dispels Moody’s downgrade of Sri Lanka ratings

2021-07-21 07:20:00

Sri Lanka has disputed a warning by Moody’s Investors Services that it may further downgrade the island’s sovereign rating saying it was ill-judged as funds were lined up to repay foreign debt including sovereign bond maturing in July...


Israel Aerospace Industries reactivates Sri LankanAir force Kfir fleet

2021-07-20 07:07:00

Israel Aerospace Industries (IAI) recently signed a contract, worth USD $50 million with Sri Lanka’s Ministry of Defense to upgrade Kfir aircraft for the Sri Lankan Air Force, IAI announced...


Sri Lanka establishes submarine cable protection framework

2021-07-20 07:07:00

Sri Lanka has established a submarine cable protection and resilience framework, the Foreign Ministry said...


Current financial situation becomes bristle making IMF only hope

2021-07-20 07:04:00

Sri Lanka’s current financial situation was bristling even before the Covid -19 has thrown its third blow on the country and it has to seek more aid from its strategic ally China economic experts suggested...


Ceylon Petroleum Corporation incurs loss in the first four months.

2021-07-19 07:25:00

Ceylon Petroleum Corporation has incurred an operational loss during the first four months of this year due to increase of demand and imports along with high oil prices in the world market, Finance Ministry financial report revealed...


Energy Minister likely to emerge victorious in no confidence motion

2021-07-19 07:23:00

Stage is set in parliament to day (Monday 19) for Energy Minister Udaya Gammanpila to stay or depart from his ministry when he faced a no confidence motion about to be moved by the opposition in a shorwhile...


Sri Lankan exporters undergo awareness of EU market trends

2021-07-19 07:22:00

Sri Lankan exporters have been made aware EU market trends in agri products sector in conitinuation of their exports and exploration of new avenues to enter the Europeam market...


US continues counter terrorism and economic corporation with SriLanka

2021-07-19 07:21:00

The United States looks forward to continue counter terrorism, economic and trade cooperation with SriLanka promoting a more safe and prosperous Indo-Pacific Region, particularly through maritime cooperation, official sources said...


General Treasury to stream line cash flow amidst economic woes.

2021-07-18 07:28:00

An action plan is to be implemented by the Department of State Accounts in the Treasury to record all non-financial assets of the government and strengthen the declaration of Sri Lanka’s financial position, official sources said...


EDB promotes home-grown brands in international market

2021-07-18 07:27:00

The Export Development Board (EDB), under a new three-year program, is stepping up efforts to encourage Sri Lankan entrepreneurs to develop and promote home-grown brands in the international market...