Sri Lanka Seeks Economic Cooperation Agreements from Japan to India, Aiming for Closer Integration with India

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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Sri Lanka Purchasing Managers’ Index (Manufacturing and Services) – July 2024

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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Relief for Personal Income Tax Expected Soon, President Announces at University Lecturers’ Conference

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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Starlink given license to operate in Sri Lanka

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 …

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Ambassador Chung’s Remarks at WEConnect Supplier Development

Good morning, everyone. It is a great pleasure to be here this morning with such an incredible group of amazing and inspiring women entrepreneurs.  I want to start by thanking WEConnect International for the remarkable work they do in empowering women entrepreneurs across the globe and here in Sri Lanka.  We are proud of the many, many women businesses who …

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National Industrial Policy and 2023-2027 Strategic Plan Prepared to Build a Globally Competitive Industrial Base

Secretary to the Ministry of Industries, Shantha Weerasinghe announced that the “National Industry Policy,” along with the five-year strategic plan for 2023-2027, has been prepared and submitted to the Department of National Planning. This initiative aims to establish a globally competitive national industry base. By 2030, the policy aims to increase the manufacturing sector’s contribution to GDP from 16% to …

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EDB at 45: An odyssey of worthwhile accomplishments

The 1st of August, 2024, marks the 45th anniversary of the Sri Lanka Export Development Board (EDB). The EDB was established in 1979 with the objective of establishing a strong government-level institutional framework to develop and promote Sri Lanka’s exports in order to integrate with the global economy consequent to the adoption of liberal economic policies in 1977, and it has been …

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Colombo Port Recognized as the World’s Fastest-Growing Port in Q1 2024

Secretary to the Ministry of Ports, Naval, and Aviation Services, K. D. S. Ruwanchandra, emphasized that Alphaliner, a prominent research publication in the shipping industry, recognized Colombo Port as the world’s fastest-growing port in the first quarter of 2024 due to its remarkable operational performance and 23.6% growth rate. He added that the port generated an income of USD 50 …

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