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Providing loan guarantees for the upliftment of small and medium enterprises later this year
Sept 28 (CP) Colombo- State Minister of Finance Shehan Semasinghe says that in the next few months of this year, credit guarantees will be provided for the upliftment of the micro, small and medium scale enterprises that have been most affected by the economic crisis.
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Colombo Port City investor interest grows as Colombo Port City Economic Commission delivers rapid progress in 2023
Sept 28 (CP) Colombo- The Colombo Port City Economic Commission (the Commission) recently published its Comprehensive Progress Report for the fiscal year 2023, spanning from January to August.
This period has seen remarkable developments within the Commission, Colombo Port City
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Sri Lanka’s Colombo-based inflation drops to 1.3 percent in September 2023
Sept 27 (CP) Colombo- Sri Lanka’s inflation, as measured by the change in the Colombo Consumers’ Price Index (CCPI) declined to 1.3 percent in September 2023 from 4.0 percent in August, the Department of Census and Statistics reported Wednesday.
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IMF mission to Sri Lanka concludes without reaching agreement
Sept 27 (CP) Colombo- The International Monetary Fund concluded its mission to Sri Lanka without reaching a staff-level agreement as the country has not assured full economic recovery despite early signs of stabilization of the economy.
Issuing a statement, the IMF mission commended the progress Sri Lanka has made in implementing difficult but much needed reforms...
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HIP supplies over 80% marine bunkers to Sri Lankan market
Sept 27 (CP) Colombo- The Hambantota International Port Group (HIPG) has benchmarked a 500,000 ton volume in their bunkering business during the first eight months of 2023.
The throughput which is five times in volume compared to 2022, is attributed to the port’s strategic partnership with Sinopec Fuel Oil Lanka Limited (SFOL), for the supply and trade of marine bunker fuel.
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‘INFOTEL Information Technology Fair’ from Nov 03-05 at BMICH
Sept 26 (CP) Colombo- The ‘INFOTEL Information Technology Exhibition,’ orchestrated by the Federation of Information Technology Industry Sri Lanka (FITIS), is scheduled to take place at the Bandaranaike International Conference Hall in Colombo from November 3rd to 5th.
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S&P raises Sri Lanka local currency ratings to ‘CCC+/C’, says outlook stable
Sept 26 (CP) Colombo- S&P Global Ratings on Monday raised its long- and short-term local currency sovereign credit ratings on Sri Lanka to ‘CCC+/C’ from ‘SD/SD’ (selective default).
At the same time, S&P affirmed ‘SD/SD’ long- and short-term foreign currency ratings.
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Sri Lanka Food Festival in Karachi showcases island nation’s rich culinary heritage
Sept 26 (CP) Colombo- The Sri Lanka Consulate General in Karachi in collaboration with the Marriot Hotel and Quality Event Pvt. Ltd. organized a Sri Lanka Food Festival at the Marriot Hotel in Karachi from 09 to 10 September 2023 with a view to showcasing the rich culinary heritage of Sri Lanka.
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SLT-Mobitel empowers Apple iPhone users across Sri Lanka to embrace 5G revolution
Sept 25 (CP) Colombo- SLT-MOBITEL is providing a groundbreaking opportunity, enabling customers with latest Apple iPhone devices to experience the best of 5G technology through its state-of-the-art 5G trial network.
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Sri Lanka pays off $200m loan from Bangladesh with $4.5m interest
Sept 23 (CP) Colombo- Sri Lanka has paid off the entirety of USD $200 million loan from Bangladesh, taken through a currency exchange agreement two years ago to survive the severe dollar shortage, Dhaka Tribune reported.
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Sri Lankan tea exporters seek greater presence in Kingdom with Foodex Saudi showcase
Sept 23 (Arab News) Sri Lankan companies participating in the recent 10th edition of Foodex Saudi showcased the country’s famous Ceylon tea to boost its presence in the Kingdom, Colombo’s envoy in Riyadh, Pakeer Mohideen Amza, told Arab News on Thursday.
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ComBank supports students facing Year 5 scholarship exam with a series of workshops
Sept 22 (CP) Colombo- As students and parents begin the final countdown to the 2023 Year 5 scholarship examination, the Commercial Bank of Ceylon in partnership with Derana FM is completing a series of preparatory workshops for the young candidates, with leading tutors and model question papers.
[Full Story]
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Slim Pharmaceuticals (Pvt) Ltd donates 500 Face Shields to the KDU
Sept 22 (CP) Colombo- The Slim Pharmaceuticals (Pvt) Ltd donated a package of Anti-Fog Face Shields to the Defense Ministry Secretary Gen. Kamal Gunaratne symbolically at a function held at the Ministry, yesterday (September 21).
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JAAF calls for further strengthening of the DCTS through extended cumulation
Sept 22 (CP) Colombo- Exceptional circumstances need extraordinary solutions that help navigate unprecedented challenges. The macroeconomic crisis that Sri Lanka is grappling with is such a set of circumstances, compounded by geopolitical factors including the Russia-Ukraine war, global inflation and a slowdown in the global economy which makes overcoming the crisis much harder.
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Government’s robust economic development program leads to a substantial 62.1% drop in inflation– Acting Finance Minister
Sept 21 (CP) Colombo- Acting Finance Minister Ranjith Siyambalapitiya announced that over the past year, inflation in Sri Lanka has significantly decreased to 62.1%, thanks to President Ranil Wickremesinghe’s robust economic reform agenda.
[Full Story]
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Empowering Sri Lankan SMEs with Export Expertise: Seylan Bank offers comprehensive support services and knowledge sharing
Sept 21, Colombo: Small and Medium Enterprises (SMEs) have been one of the main contributors to the national economy. As a bank that is committed to unlocking potential, Seylan Bank recognized the opportunity that SMEs have to capitalize in the export market.
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Sri Lankan President, IMF Chief discuss financial reforms, vital economic issues
Sept 21 (CP) Colombo- Sri Lankan President Ranil Wickremesinghe met with the Managing Director of the IMF, Kristalina Georgieva on Wednesday on the sidelines of the United Nations General Assembly (UNGA) in New York to discuss crucial economic issues including debt restructuring and financial reforms.
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Sri Lanka’s national carrier in urgent push for new pilots
Sept 25 (TTGA) SriLankan Airlines is aiming to recruit 80 new pilots to replace lost headcount, with 30 hires set for this year and 50 more by mid-2025.
CEO Richard Nuttal said failure to fill the manpower gap would result in cancelled flights.
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Sri Lanka shares end higher as consumer staples rise
Sept 22 (Reuters) - Sri Lankan shares closed higher on Friday, supported by consumer staples stocks.
The CSE All-Share index settled 0.43% higher at 11,256.52.
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ComBank conducts hackathon for staff to display problem-solving ingenuity
Sept 28 (CP) Colombo- A team representing Central Accounts at the Commercial Bank of Ceylon won the inaugural hackathon organized by the Bank in collaboration with Dialog Enterprise for employees of the Bank to develop and demonstrate their ingenuity and problem-solving prowess.
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First phase of East Container Terminal of Colombo Port to start operations in June next year
Sept 27 (CP) Colombo- The Ministry of Ports, Shipping and Aviation stated that the construction of the first stage at the East Container Terminal of Colombo Port will be completed and its operations will begin from the first of June 2024.
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Seylan Tikiri hosts ‘Tikiri Pola’ at Aralaganwila Welayaya National School to foster financial literacy in young students
Sept 27 (CP) Colombo- Seylan Tikiri, the cherished children’s savings brand of the country, recently joined hands with Aralaganwila Welayaya National School in an effort to instill a sense of financial literacy among the young minds.
On September 7th, 2023, the school premises came alive with the Seylan Tikiri Pola
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Sri Lanka’s merchandise exports in August 2023 surpasses USD 1 billion mark
Sept 27 (CP) Colombo- Sri Lanka’s merchandise exports increased by 6.98 % to US$ 1,091.6 Million in August 2023 compared to July 2023 as per the provisional data released by the Sri Lanka Customs.
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CDB as Silver Sponsor supported ‘Back to Faculty’ celebrations of University of Colombo – Faculty of Management and Finance
Sept 27 (CP) Colombo- CDB was the Silver Sponsor, at the event ‘Back to Faculty’ organized by the University of Colombo’s Faculty of Management and Finance to celebrate the achievements and journeys of graduates during the past 42 years.
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Cabinet approval granted for the submission of 2024 appropriation bill to the Parliament.
Sept 26 (CP) Colombo- The Cabinet of Ministers has approved the appropriation bill for the financial year 2024 to be submitted to Parliament.
The Cabinet of Ministers has granted approval at their meeting held on 31 july.2023 to draft the bill of appropriation for the financial year 2024.
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Sri Lanka’s first centrally monitored, fully-automated, women-operated Lanka IOC filling station unveiled
Sept 26 (CP) Colombo- In a historic milestone, Sri Lanka witnessed the grand unveiling of its very first centrally-monitored, fully-automated, women-operated Lanka IOC Filling Station, recently. This event symbolizes empowerment, inclusivity, and technological advancement.
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Hayleys Solar expands its presence in Jaffna
Sept 25 (CP) Colombo- Hayleys Solar, the renewable energy arm of Hayleys Fentons, expands its horizons to make solar energy accessible from the south to north of the nation with its recent strategic launch in Jaffna.
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British Council IELTS launches One Skill Retake in Sri Lanka
Sept 24 (CP) Colombo- British Council IELTS test takers who do not achieve their desired results first time around will no longer have to re-sit the full test, after the launch of a game-changing new feature.
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State Minister of Investment Promotion streamlines process of disposing redundant items from factories
Sept 23 (CP) Colombo- State Minister of Investment Promotion Dilum Amunugama has changed and streamlined the unorganized disposal of redundant, obsolete and scrap items discarded from Board of Investment (BOI) enterprises by issuing licenses to selected businessmen.
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Singer revamps Colombo Service Center with enhanced customer experience
Sept 23 (CP) Colombo- Singer Sri Lanka PLC is pleased to announce the revamping of its Colombo Service Centre, reaffirming the brand’s dedication to providing exceptional services to their valued customers. The new facility located in Borella aims to redefine the customer service experience for all patrons.
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New Governing Board of the Central Bank of Sri Lanka announced
Sept 22 (CP) Colombo- The Central Bank of Sri Lanka has announced the establishment of a new Governing Board which succeeds the Monetary Board that functioned previously, under the provisions of the Monetary Law Act (MLA).
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National IT & Business Process Management Week in Sri Lanka from October 11th-13th
Sept 22 (CP) Colombo- Commencing the National IT and BPM Week, the central event is slated for October 11, 12, and 13, 2023, at the Sirimavo Bandaranaike Memorial Exhibition Hall in Colombo.
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SEC and CSE successfully conducted an Investor Forum in Anuradhapura
Sept 22 (CP) Colombo- The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) successfully concluded another investor forum in Anuradhapura, at the Golden Mango Resort on 19th September 2023.
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Sri Lanka’s national inflation declines to 2.1 percent in August 2023
Sept 21 (CP) Colombo- Sri Lanka’s nationwide inflation in August 2023 determined under the National Consumer Price Index (NCPI) decreased to 2.1 percent from 4.6 percent recorded in July 2023 on a year-on-year basis, the Department of Census and Statistics reported Thursday.
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Strategy to develop Arugam Bay Tourism urgently needed
Sept 21 (CP) Colombo- A meeting was convened at the Presidential Secretariat to discuss the Arugam Bay Tourism Development Plan, which has the potential to significantly contribute to Sri Lanka’s tourism industry. Mr. Sagala Ratnayaka, Senior Advisor to the President on National Security and Chief of the Presidential Staff, chaired the meeting.
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Sri Lankan President stresses need for a comprehensive plan to address financial difficulties faced by middle-income countries
Sept 21 (CP) Colombo- In a significant address at the High-level Dialogue on Financing for Development – General Assembly, 78th session, President Ranil Wickremesinghe emphasized the critical issues facing middle-income countries in times of financial distress drawing attention to the challenges these countries face due to the lack of a common framework and procedures.
[Full Story]
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Sri Lankan shares end lower as financials drag
Sept 25 (Reuters) - Sri Lankan shares closed lower on Monday, dragged by losses in financial stocks.
The CSE All Share index settled down 0.36% at 11,216.50.
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Sri Lanka shares end lower as financials weigh
Sept 21 (Reuters) - Sri Lankan shares closed lower on Thursday, dragged down by financials stocks. The CSE All Share index settled down 0.6% at 11,207.98 *
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