State Minister for Investment Promotion, Dilum Amunugama, announced that Sri Lanka has secured an export income of USD 9 billion in the first six months of this year. He also highlighted that investment agreements totaling approximately USD 800 million have been signed during the same period. State Minister Amunugama shared this information at a press briefing titled “Two Years of …
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A significant milestone in Sri Lanka’s energy sector unfolded today (20) with the signing of a Memorandum of Understanding (MOU) between LTL Holdings Limited Sri Lanka and Petronet LNG Limited India. The MOU focuses on the development of infrastructure for the storage, regasification and supply of Liquefied Natural Gas (LNG) for the “Sobadhanavi” Combined Cycle Power Plant in Kerawalapitiya. The …
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President Ranil Wickremesinghe emphasized the importance of strengthening economic cooperation and regional integration from Japan to India, with a special focus on deepening ties with India. The President made these remarks while addressing the Head of State Session of the 3rd Voice of Global South Summit, held under the theme “An Empowered Global South for a Sustainable Future.” Speaking from …
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The Central Bank released its second Monetary Policy Report for 2024 in keeping with the requirements of the Central Bank of Sri Lanka Act, No. 16 of 2023. The content of this Report is based on information that the Monetary Policy Board of the Central Bank considered in formulating the monetary policy decision during the July 2024 review. The Monetary Policy Report provides …
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Purchasing Managers’ Indices indicate expansions in both Manufacturing and Services activities in July 2024. Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 59.5 in July 2024, indicating a continuous expansion in manufacturing activities. All sub-indices contributed positively to this improvement. Sri Lanka Purchasing Managers’ Index for Services (PMI – Services) indicated a further …
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In a landmark keynote address at the University Lecturers’ Conference held at the Water’s Edge Hotel yesterday evening (13), President Ranil Wickremesinghe revealed plans to provide relief for personal income tax in the near future. The President mentioned that two proposals, currently under review by the Treasury and the counter proposal by the International Monetary Fund (IMF) are being considered …
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The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has officially issued a Telecommunications Service Provider Licence to Starlink Lanka (Private) Limited under Section 17B of the Sri Lanka Telecommunications Act No. 25 of 1991, as amended. The development follows a recent meeting between President Ranil Wickremesinghe and world-renowned businessman Elon Musk in Indonesia. During the meeting, they discussed expediting the …
Continue ReadingThe Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Registrar General of the Registrar General’s Department on August 06, 2024 at the Central Bank of Sri Lanka (CBSL) to receive information on Trusts, property registrations and any suspicious activities relating to Trusts and property registrations in relation to Money Laundering (ML), Terrorist …
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Let’s say you have a 1-ounce bar of gold sitting on your desk. Right next to it is a stack of U.S. dollars equal to the early Aug. 6 spot price of gold, $2,413.90 per ounce. If you didn’t do anything with either for 50 years, it’s likely that the stack of dollars will be worth much less, while the …
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Former Minister of State for Finance Mr. Eran Wickramaratne raised a question in Parliament as to why Puttalam Ilmenite Limited (PIL) which has spent over USD 20 million over the last 10-years, has been denied entry to Sri Lanka Cement corporation land hindering the project realisation. The envisaged investment is USD 100 million which is the largest ever mineral sector investment in …
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