Sri Lanka’s new government has abandoned plans to sell the debt-ridden national airline SriLankan Airlines, but will restructure it for a more profitable future. “President Anura Kumara Dissanayake has instructed that the airline should be an institution that all Sri Lankans are proud of, and should be owned by Sri Lankans,” the airline’s new chairman Sarath Ganegoda told. The previous …
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Representatives of the Qatar Sri Lanka Business Council (QSBC) and the Export Development Board (EDB) of Sri Lanka engaged in discussions on fostering trade relations and exploring investment opportunities between the two countries. The meeting was held virtually on 09 October 2024. The QSBC delegation was led by President John Prasad, accompanied by Secretary Waruna Gunasekara, and members of the …
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After a decrease in tourist arrivals and an excess supply of eggs resulted in a reduction in market prices, the All Island Poultry Farmers’ Association has called for a stabilization of poultry feed prices. “Due to the excess supply of eggs, the market price has reduced to below the cost of production. Therefore we have asked for a stabilization of …
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Wijar, a Saudi brand of pure Ceylon tea” was featured at the International Franchise Exhibition held in Riyadh, Saudi Arabia from 01 to 03 October 2024. Ambassador of Sri Lanka to the Kingdom of Saudi Arabia Ameer Ajwad attended the exhibition along with the proprietor of the company Faiz Sulaiman Al Faiz, to promote the brand. The Saudi International Franchise …
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The Country Director of the Asian Development Bank (ADB) Resident Mission in Sri Lanka, Takafumi Kadono, along with a delegation, met with President Anura Kumara Dissanayake today (07) at the Presidential Secretariat. The discussions focused on ADB’s ongoing commitment to support Sri Lanka’s economic and social development. During the meeting, the ADB reaffirmed its dedication to continuing its projects in …
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The International Development Association (IDA) of the World Bank Group (WBG) has approved a USD 200 million financing package to support the second phase of Sri Lanka’s Resilience, Stability, and Economic Turnaround (RESET) Development Policy Financing (DPF) program. The agreement was signed today (07) by K.M. Mahinda Siriwardana, Secretary to the Ministry of Finance, Economic Development, Policy Formulation, Planning, and …
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In a significant meeting today, President Anura Kumara Dissanayake engaged directly with IMF delegation included Director of the Asia Pacific Department, Krishna Srinivasan and SeniorMission Chief Dr. Peter Breuer to discuss the progress of Sri Lanka’s on-going IMF programme. The President was accompanied by key Sri Lankan officials, including Central Bank Governor Dr.Nandalal Weerasinghe, Secretary to the Treasury Mr. Mahinda …
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The Central Bank has issued a Gazette Extraordinary rescinding the pension benefits of the Governors of the Central Bank with effect from September 11, 2024. The Gazette issued by Central Bank Governor Nandalal Weerasinghe said that pension payments to a person who has been appointed as the Governor shall be discontinued with effect from 11.09.2024 and no claims for pension …
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The Central Bank of Sri Lanka (CBSL) wishes to announce the issuance of the Banking Act Directions No. 05 of 2024 on Corporate Governance for Licensed Banks on 30.09.2024. These Directions were issued with a view to strengthening the corporate governance processes and practices of the licensed commercial banks and licensed specialised banks (hereinafter referred to as licensed banks), thus …
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A high-level delegation from the International Monetary Fund (IMF) arrived in Sri Lanka today (02) to engage with the newly formed government led by President Anura Kumara Dissanayake. The primary objective of the visit was to initiate discussions on the progress of the IMF Program and necessary steps towards the release of the fourth tranche of the $ 2.9 billion …
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