GOVPAY : Special program to promote digital payments

The Ministry of Digital Economy has unveiled a specialized program aimed at boosting digital payment adoption. Deputy Minister Eranga Weeraratne informed the Daily Mirror that approximately 1% to 1.5% of the nation’s annual gross domestic product (GDP) is expended on transactions involving physical currency. He emphasized that cash-based payments can contribute to greater risks of fraud and corruption, as well as inefficiencies …

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EDB Hosts Workshop on Dry Rubber Compounding and Plant Management

The Sri Lanka Export Development Board (EDB), in collaboration with the Sri Lanka Automotive Component Manufacturers Association (SLACMA) and Technobiz Lanka, successfully conducted a two-day workshop on Dry Rubber Compounding Technology and Plant Management. The event held at the EDB headquarters, aimed to enhance the skills and knowledge of technical professionals in the rubber manufacturing industry, including those serving the …

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Economic Stabilization Process Advances under New Government

A press briefing on the economic stabilization process and the proposed relief packages for the public was held today (26) at the Presidential Media Center (PMC). Minister of Labor and Deputy Minister of Economic Development, Dr. Anil Jayantha Fernando, along with Deputy Minister of Finance and Planning, Dr. Harshana Suriyapperuma, attended in the briefing. The media statement released during the …

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Export Performance in November 2024

Total exports for November 2024, including both merchandise and services, were recorded at US$ 1,269.33 million, reflecting a marginal increase of 0.04% compared to the same period in 2023. As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in November 2024 amounted to US$ 943.1 million, reflecting a 5.6% decline compared to November 2023. …

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Moody’s raises Sri Lanka’s rating after debt overhaul approval

Dec 23 (Reuters) – Credit ratings agency Moody’s on Monday raised Sri Lanka’s long-term foreign currency issuer rating to ‘Caa1’ from ‘Ca’ with a stable outlook, after the country’s creditors approved a $12.55 billion debt overhaul last week. Sri Lanka’s credit profile reflects the reduction in external vulnerability and government liquidity risk, and prospects for fiscal and debt sustainability, Moody’s …

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President Leads Discussion on Sri Lanka’s Framework for Combating Money Laundering and Terrorism Financing

A high-level discussion on the critical preparations for Sri Lanka’s upcoming Mutual Evaluation (ME) by the Asia/Pacific Group on Money Laundering (APG) was held today (23) at the Presidential Secretariat under the patronage of President Anura Kumara Disanayake. The meeting focused on preventing money laundering and countering terrorism financing (AML/CFT) and included participation from cabinet ministers, ministry secretaries, officials from …

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“The Challenge of Transforming Public Service into a Streamlined State Mechanism Lies Ahead of Us”

President Anura Kumara Dissanayake President Anura Kumara Dissanayake highlighted the critical challenge of transforming Sri Lanka’s public service into an efficient state mechanism. He pointed out that the newly appointed committee tasked with reviewing state institutions would make decisions without being influenced by political pressures. The President shared these views while addressing the District Secretaries and Divisional Secretaries conference today …

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Russia claims it developed first cancer vaccine in big breakthrough

The deadly disease, cancer is almost incurable to date and people are terrified of it. But will Russia’s grand claim put an end to cancer? Russia has claimed that it has invented a cancer vaccine that will prevent all types of cancer tumours. According to Russia’s announcement, it has been proved in pre-clinical trials that this vaccine is successful in suppressing …

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President Expresses Gratitude to China for Debt Restructuring Support and Economic Assistance

President Anura Kumara Dissanayake expressed his gratitude to the Chinese government for its support during debt restructuring as well as in the face of the economic crisis. He stated that his appreciation extends to China’s assistance in the debt restructuring program and its provision of loans to Sri Lanka during the economic challenges. President Dissanayake made these remarks during a …

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Will Ensure that the 2022-23 Crisis Never Recurs in Our Country

 President says addressing Parliament “Yesterday, we engaged in a robust three-hour debate on debt restructuring. That discussion provided an opportunity to outline the roadmap that has led us to the current stage and to highlight the achievements we have made thus far. I will not delve into lengthy explanations, but I must address a narrative being propagated, a narrative that …

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