Central Bank of Sri Lanka holds policy interest rates steady
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 13 October 2021 decided to maintain policy rates at current levels In consideration of the…
Sri Lanka’s Fastest-Growing Apparel Manufacturer Hela Clothing Officially Joins U.S. Cotton Trust Protocol
The U.S. Cotton Trust Protocol welcomes global apparel manufacturer Hela Clothing, a provider of sustainability-focused supply chain solutions, as a new member. With facilities located in Sri Lanka, Kenya, Ethiopia…
International community strikes a ground-breaking global minimum corporate tax rate sans Sri Lanka and three others
Major reform of the international tax system finalised yesterday at the OECD will ensure that Multinational Enterprises (MNEs) will be subject to a minimum 15% tax rate from 2023. The…
Navigating through High Maritime Freight Rates
By Imesha Dissanayake Maritime Freight rates have been on an upward trend since the second half of 2020. The Drewry’scomposite World Container Index (WCI) as of 30th September 2021 increased…
ADB Approves $110 million Additional Funding for Primary Health Care System (PHC) Project in Sri Lanka.
The Asian Development Bank (ADB) has approved a $110 million loan as additional financing for the ongoing Health System Enhancement Project that is improving the primary health care system (PHC)…
Sri Lanka Lifts margin deposit requirement on mobiles, home appliances, and over 600 other imported goods
The Central Bank of Sri Lanka (CBSL) removed the 100 percent cash margin deposit requirement imposed on 623 ‘non -essetial’/non urgent’ imported goods including mobiles, home appliances, clothing, household, and…
Sri Lanka’s Forex Crisis Worries South Indian textile and fabric exporters
South India’s textile and fabric exporters are worried that the economic crisis in Sri Lanka–India’s second-largest export destination for clothing products—may lead to a delay in payments from buyers in…
China’s Global Network of Shipping Ports Reveal Beijing’s Strategy
VOA News: A powerhouse in global trade, China has more shipping ports at home than any other country. Key investments add about another 100 ports in at least 60 nations.…
Asanga Seneviratne Back on CSE Board
The Colombo Stock Exchange (CSE) today announced the appointment of Asanga C. Seneviratne as a Directorof the CSE Board with effect from 23rd September 2021. Seneviratne has previously served on…
Seven countries, including Sri Lanka and Chile, have agreed to stop using the dirtiest fossil fuel
Seven countries have signed a pledge initiated by the United Nations to stop building new coal power plants, with the aim to gather more signatures before the global climate summit COP26 in…