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Sri Lanka’s mobile and fixed broadband speeds improve in December

Sri Lanka’s mobile and fixed broadband speeds recorded an improvement in December, however, still continued to remain below the pre-pandemic levels, according to Ookla’s latest Speedtest global index. The mobile…

Second phase of GRI’s $100M Tyre Project to Be Commissioned in December

Global Rubber Industries (GRI) last week broke ground and laid the foundation stone for the second phase of a $ 100 million project with a new manufacturing facility in Badalgama,…

Latest $200 million SLDB issuance undersubscribed

The latest $200 million issuance of Sri Lanka Development Bonds (SLDBs) closed undersubscribed on Tuesday with only bids received amounting to $62.64 million, the Central Bank (CB) data showed. The…

Central Bank orders banks to delay dividend payments

The Central Bank (CB) ordered the local banks to differ cash dividend payments and foreign banks to differ profit repatriation until their 2020 accounts have been audited. “Every licensed commercial…

Central Bank Holds Policy Rates Steady with plans to introduce priority sector lending targets

The Monetary Board of the Central Bank (CB) decided to maintain the policy rates at the current levels at the first Monetary Policy Review meeting held for the year. At…

Sri Lanka to Introduce a New education Policy

The government plans to introduce a new education system that will protect the dignity of labour and aimed at creating a skilled society in the new normal environment. President Gotabaya…

Vietnam and Sri Lanka Express Interest to pursue a Preferential Trade Agreement

During a farewell call on Foreign Minister Dinesh Gunawardena this week, the Ambassador of Viet Nam in Colombo, Pham ThiBich Ngoc endorsed that Sri Lanka and Vietnam have immense potential…

Sri Lanka’s President Confirms Adani Group’s Involvement in East Container Terminal

President Gotabaya Rajapaksa today assured representatives of Port Trade Unions that the East Container Terminal (ECT) of the Colombo Port will not be sold or leased. According to him, the…

United States provided $6M in aid to reduce the spread of COVID-19 in Sri Lanka

With the recent donation Of a mobile testing unit to the Regional Health Services in Moneragala, the U.S. Government has provided $ 6 million in aid to reduce the spread…

Central Bank to wind up ETI Finance through Courts

The Monetary Board of the Central Bank (CB) has decided to cause the Director, Supervision of Non-Bank Financial Institutions to make an application to a competent court for the winding…