By : A.D. Udari Kalpani Rupasingha Aquaculture is the controlled farming of aquatic animals and plants such as finfish, crustaceans, mollusks, aquatic plants and seaweed. Mariculture, on the other hand, is a type of aquaculture that focuses on raising marine life in inshore and offshore waters, which are their native habitats. It may comprise species like crabs and oysters, seaweed …
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President Anura Kumara Disanayake held a discussion this morning (03) at the Presidential Secretariat with senior officials of the Ministry of Agriculture, focusing on the revitalization of the local dairy industry. The meeting centred on the need to transform MILCO and the National Livestock Development Board into efficient and productive enterprises that can meet the country’s domestic dairy demand. President …
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We have created a political culture that does not waste or misuse the taxpayers’ money. President Anura Kumara Disanayake emphasized that he gives the nation his assurance that not a single rupee of the tax money paid by the people will be misused or lost to corruption. He further stated that if any politician or public official is found engaging …
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National Credit Guarantee Institution Limited (NCGIL) commenced its operations in January and issued the first set of guarantees to 3 Financial Institutions (FIs) to partly cover the loans approved by them for 3 Micro, Small and Medium enterprises (MSMEs). Under the guarantee program, NCGIL is providing individual guarantee cover to its shareholder Financial Institutions (SFIs) to encourage them to grant …
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Sri Lanka’s export sector has demonstrated remarkable resilience and steady progress during the first four months of 2025, with total exports reaching $ 5.583 billion, marking a robust 6.9% increase compared to the same period in 2024. The Sri Lanka Export Development Board (EDB) said this upward trend reflects renewed momentum across key industries and underscores the sector’s adaptability in …
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The Monetary Policy Board decided to reduce the OPR by 25 bps to 7.75% at its meeting held yesterday, thereby easing monetary policy further. The Board arrived at this decision after carefully considering the developments both domestically and globally. The Board is of the view that this measured easing of monetary policy stance will support steering inflation towards the target …
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The Purchasing Managers’ Indices in April have reflected the seasonal contraction in Manufacturing activities and an expansion in Services activities, though lower than in March. Following the seasonal pattern, the Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) declined to 40.1 in April. The key sub-indices of Production, New Orders, Stock of Purchases, and Employment contracted during the …
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Six months after revealing layoffs affecting 9,000 workers, Nissan is more than doubling that amount and cutting 20,000 jobs within the next two years instead. In an announcement on Tuesday, Nissan publicized a recovery plan called “Re:Nissan,” which aims to save the company 500 billion yen ($3.4 billion). The cost savings will partly be realized through layoffs affecting 15% of …
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Key Points President Donald Trump indicated Friday ahead of key trade talks that he was willing to lower tariffs on China to 80%, but that level may still be higher than what investors and business leaders were hoping for. Trump said in a Truth Social post: “80% Tariff on China seems right! Up to Scott B.” Treasury Secretary Scott Bessent …
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The Inland Revenue Department (IRD) has announced an extension of the deadline for senior citizens to submit applications for quarterly income tax refunds for the assessment year 2023/2024. According to a statement issued by the Commissioner General of Inland Revenue, the decision was made in response to the significant number of requests received from elderly taxpayers. The deadline, previously set …
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