Development and Economic News
Workers’ remittances, tourism earnings continue positive momentum
The Central Bank of Sri Lanka (CBSL) says the country’s trade services, mainly earnings from tourism have recovered significantly during the first two months of 2024, while the positive momentum of workers’ remittances also continued.
Colombo HC prevents Abans using McDonald’s brand name
The Colombo Commercial High Court issued an enjoining order preventing Rusi Pestonjee, Managing Director of Abans PLC or his servants from in any way or manner to use the name McDonald’s or any name in any way or manner similar to the name McDonald’s.
Central Bank top brass to review high pay hike amidst public protests
In the face of widesperd public pressuere including parliamentrains and civil society activists, the Central Bank senior management has decided to revisit recent salary revision
Indictment served on eight accused in X-Press Pearl case
The Colombo High Court today served an indictment on eight accused including the Captain of the fire-ravaged container ship MV X-Press Pearl for causing damage to the country's oceanic environment.
February exports see marginal growth amid yearly decline
Earnings from merchandise exports in February was $ 983.7 million, marking a slight uptick of 0.17% year-on-year (YoY), while it also increased by 1.3% compared to January.
At least 150 dangerous constructions identified in Colombo city
Nearly 150 dangerous constructions have been identified in Colombo city thus far, says Colombo Municipal Commissioner Mrs. Bhadranie Jayawardhana.
COPF directs Central Bank to hold high salary increase of its staff
The Committee on Public Finance has presented its report on the Central Bank Of Sri Lanka Salary Revision to the Parliament.
Inter-Ministerial Tourism Committee to boost hospitality industry
Inter-ministerial tourism committee will be appointed to enhance coordination and maximising the potential of the thriving tourism sector.
Massive rise in scams as public struggle from financial crisis
Amid the country's high cost of living, there's an increased risk of individuals falling prey to ongoing scams and cyber frauds as more people are desperately resorting to earning quick money, the Sri Lanka Computer Emergency Readiness Team (SLCERT) said.
ADB unveils new Partnership Strategy for Sri Lanka
The Asian Development Bank (ADB) announced yesterday the launch of a new country partnership strategy (CPS) for Sri Lanka spanning 2024–2028. The strategy aims to restore the country’s macroeconomic stability, revive growth, and lay the groundwork for sustainable recovery and resilience.