Mannar Wind Power Project is Transparent and Regulated – Reports
Process, regulatory and new technology and knowledge about Renewable Energy has created mixed emotions for a project which will benefit all of Sri Lanka, and its typical for change in…
IFC Appoints Imad N. Fakhoury as Regional Director for South Asia
IFC, a member of the World Bank Group, has appointed Imad N. Fakhoury as Regional Director for South Asia. Based in New Delhi, Fakhoury will spearhead IFC’s strategy and operations, while…
Sri Lanka’s August consumer inflation eases to 2.1%
(Reuters) – Sri Lanka’s consumer price inflation rate eased to 2.1% year-on-year in August from 4.6% in July, helped by falling food prices, the statistics department said on Thursday. The…
India hands over INR 450 million for Sri Lanka’s Unique Digital Identity project
Indian High Commissioner handed over a cheque of 450 million for the Sri Lanka Unique Digital Identity (SL-UDI) Project. High Commission of India in Colombo, Sri Lanka twitted, “High Commissioner…
Abu-Dhabi based low-Cost Carrier Air Arabia clears to operate to Sri Lanka
The low-Cost Airliner (LCA) will operate scheduled direct flights to Colombo, qualifying itself with the Sri Lanka Civil Aviation technical and operational requirements and meeting with international safety standards, Passenger…
World Bank set to approve $700 mln for Sri Lanka next week -sources
(Reuters) – The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters,…
SriLankan Airlines’ annual loss climbs to $525 million amidst exchange loss
Cash-strapped Sri Lanka’s national airline announced a staggering $525 million annual loss on Friday. Despite posting an operating profit of Rs. 1.7 billion in FY22 for the first time in…
Global Economy’s “Speed Limit” Set to Fall to Three-Decade Low – World Bank
The global economy’s “speed limit”—the maximum long-term rate at which it can grow without sparking inflation—is set to slump to a three-decade low by 2030. An ambitious policy push is…
Debt-stricken Sri Lanka to receive first tranche of IMF bailout funds in two days
(Reuters) – Sri Lanka will get the first $330 million tranche of the International Monetary Fund’s bailout in the next two days, the global lender said on Tuesday, putting the…
Bruised U.S. bank stocks shake off initial SVB contagion fears
(Reuters) – U.S. bank stocks jumped on Tuesday, recovering some ground after the failure of Silicon Valley Bank and Signature Bank triggered heavy selling by investors who were already anxious…