Global electricity generation from coal is set to drop by the largest amount on record in 2020
Global coal generation is estimated to fall by 5% in 2020 to 2012 levels, marking the largest annual decrease on record, the International Energy Agency (IEA) estimated in a new…
Justice K. Sripavan appointed as the New Commercial Bank Chairman
The Board of Directors of Commercial Bank green-lighted the appointment of Justice K. Sripavan as the New Chairman of the Bank with effect from 21st of this month, upon the…
United States assures support for Sri Lanka in responding to COVID and building its economy despite the withdrawal of the MCC grant
The United States assures support for Sri Lanka in responding to COVID and building its economy, despite the withdrawal of Rs. 89 billion Millennium Challenge Corporation (MCC) grant. ” On December…
Sri Lanka targets $2.5 B FDI in 2021
Sri Lanka targets $2.5 billion worth of Foreign Direct Investments (FDI) in 2021 backed by committed investments from Chinese firms. “We are targeting at least $2.5 billion in FDI inflows,…
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Sri Lanka faces worst decline as debt crisis looms
Sri Lanka Tuesday announced its worst economic slump with second-quarter GDP plunging 16.3 percent as international concern grows over its ability to repay foreign debt. The department of Census and…
Sri Lanka plans to resume international flight operations after Christmas
Sri Lanka plans to resume international flight operations from the 26th of December allowing commercial and cargo flights to operate to Island Nation without a restricted schedule, the Civil Aviation…
Sri Lanka’s trade deficit declines in October
Sri Lanka’s trade deficit declined by $320 million to $514 million in October compared to the preceding month, the Central Bank (CB) data showed. The $ 514 million trade deficit…
No Final Decision yet on Airport re-opening in January
The government hasn’t made a final decision yet on opening up Sri Lanka’s borders for foreign travelers in January next year, Sri Lanka Tourism, Chairperson, Kimarli Fernando said. Taking part…
Blackstone acquires Piramal Glass for $1 billion
The World’s largest alternative equity firm, Blackstone Group Inc, has signed an agreement to acquire Piramal Group’s Piramal Glass including its unit in Sri Lanka for an estimated $1…
United States kick-off $20M Project to Support Small Businesses and empower Female Participation in Sri Lanka’s Labor Force
The United States launched a new Rs3.6 billion ($ 19.5 million) initiative to help small businesses and economically empower Sri Lankan women. The Private Sector Development Project, which is funded through…