Sri Lanka’s economy contracted by 3.9% in 2020- Central Bank
The Central Bank (CB) expects Sri Lanka’s economy to have contracted by 3.9 percent in 2020 well below its earlier projections. “The marginal decline in the first, and the relatively…
Protectionism To Rise In 2021 States Attempts To Stimulate Domestic Recovery – Economist
Governments in 2021 are likely to ramp up protectionist economic measures in a bid to stimulate domestic recovery from the COVID-19 pandemic despite the interests of the private sector lying elsewhere, Kathmina…
Sri Lanka to ban maize-based alcohol and ethanol production
President Gotabaya Rajapaksa has ordered the Excise Department Chief to issue a gazette notification banning the use of maize (corn) for the production of alcohol and ethanol. The Commissioner is…
Arrival of Russian Tour Group postponed
Russia’s national airline Aeroflot has postponed the scheduled flight to Sri Lanka with 300 Russian tourists as a new strain of COVID-19 spread in the United Kingdom (UK) and across…
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Dialog Axiata to acquire Hirdaramani’s H One for Rs 300-350 million
Dialog Axiata PLC has reached an agreement to acquire full ownership of Sri Lanka’s largest reseller of Microsoft enterprise solutions (MSFT) , H one from Hirdaramani Group. “The transaction is…
Sri Lanka waives off the landing and parking fees at Two International Airports
The cabinet of Ministers has approved a proposal to waive landing and parking fees for International airlines in order to attract airlines to Rajapaksha International Airport in Mattala, and Colombo…
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…
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,…
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…