Sri Lanka’s Central Bank Withdraws Proposed additional incentive scheme for remittances and export earnings
Following the decision to float the exchange rate of the Rupee, the Central Bank of Sri Lanka (CBSL) announced the decision to withdraw the proposed scheme for additional incentives for remittances…
Construction of new elevated highway in progress
The highways Minister Johnston Fernando had reviewed the progress of the new highway project, which spans from Ingurukade junction to Colombo Port city. The project is to be completed and…
Business earnings to take a hit from Sri Lana’s rising inflation levels
Business earnings to take a hit from rising inflation levels which are projected to accelerate at double digits for the rest of the year, First Capital Research stated. “While 2022…
Sri Lanka to obtain $1 bn credit from India
Sri Lanka’s Finance Minister Basil Rajapaksa signed a $1 billion credit line with India on Thursday to help ease crippling shortages of essential items, including fuel, food and medicine, officials…
Sri Lanka’s Distilleries increases liquor Prices
Increase in production costs resulted in all soft and hard liquor prices in Sri Lanka to go up from today midnight, with approximately Rs.100 per bottle of arrack and Rs.10…
Sri Lanka to setup SEZs in Galle, Bandarawela, Ratnapura,Thimbirigasyaya, Fort, Pettah and Kollupitiya
The Urban Development Authority (UDA) has proposed to set up Special Economic Zones (SEZs) in Galle, Bandarawela, Ratnapura city center, Thimbirigasyaya, Fort, Pettah, and Kollupitiya under proposed city development plans. Urban…
Britain blocks several luxury exports to Russia
Russian oligarchs will no longer have access to baubles such as the cars, artworks and designer handbags sold by British companies, after the government blocked exports worth hundreds of millions…
U.S. Marks Two Cultural Preservation Milestones in Sri Lanka with a $265,000 grant
This week U.S. Ambassador Julie Chung visited Kandy to preside over events marking two milestones in the United States’ long-standing support to preserving Sri Lanka’s diverse cultural heritage. On March 14,…
Sri Lanka finance minister meets top IMF official amid economic crisis
(Reuters) – Sri Lanka’s finance minister held talks with a top International Monetary Fund (IMF) official on Monday, two sources said, as the island nation seeks help to deal with…
Bus fares increased by 15% after Rupee collapse
Sri Lanka’s cabinet of ministers had given the go ahead to raise bus fares by an average of 15 percent, reports said, in the wake of a steep fall of…