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International and Local Experts Stress the Need For Bold And Radical Reforms for Sri Lanka this year

International and local economic experts and corporate leaders stressed the need for a concrete, long-term and bold reform agenda for the economy as the country braces for a critical year…

LANKAQR transactions top Rs. 1 billion in value in 3Q

Sri Lanka’s standardized National Quick Response code – LANKAQR based transactions topped Rs. one billion in value for the first time in the third quarter of 2021. With a total…

Sri Lanka’s government to acquire unutilized lands of plantation companies in six months – Labour Minister

Minister of Labor Nimal Siripala de Silva says that the government has decided to distribute the abandoned lands of the plantation companies to the plantation workers or the youth of…

Sri Lanka economy contracts 1.5% in 3Q

(Reuters) – Sri Lanka’s economy shrank 1.5% in the third quarter from a year earlier due to a third COVID-19 wave that peaked in August hitting industries and services, the government…

Most Sri Lankan Exporters Grappled with high costs and shortages in sourcing inputs for exports

Most of Sri Lanka’s exporters are grappled with high costs in sourcing export inputs with some exporters are struggling to source export inputs while facing shortages, according to a recent…

Monisha Abraham Replaces Nedal Salem as new CEO/MD of Ceylon Tobacco Company PLC (CTC)

Monisha Abraham has replaced Nedal Salem as the new Managing Director (MD), Chief Executive Officer (CEO), and n Executive Director of Ceylon Tobacco Company PLC (CTC) with immediate effect, making…

IFC Supports First Sri Lanka Chapter of Women Corporate Directors to Promote Diversity in Boardroom

In a bid to promote boardroom diversity and establish a network of existing and prospective women directors, the Women Corporate Directors Foundation (WCD)—the largest organization of women corporate board members…

Crises in the Sri Lankan Economy: Need for National Planning and Political Stability

By Dr.Vagisha Gunasekara Summary Sri Lanka’s current economic quagmire is due to three overlapping economic crises: a meshing of another long drawn-out global capitalist bust phase (which commenced with the…

China Communications Construction Company Bags Two Lucrative Port Deals in Sri Lanka

Chinese-state owned China Communications Construction Company has secured two lucrative port deals at the deep-water East Container Terminal (ECT) of Port of Colombo as China made further inroads deep into…

Sri Lanka among four countries most vulnerable to an exchange rate crisis in the next 12 months – Nomura

Sri Lanka along with  Egypt, Romania, Turkey are vulnerable to an exchange rate crisis in the next 12 months, according to Nomura’s early warning indicator of exchange rate crises, Damocles.…