Development and Economic News

United Petroleum Lanka Pvt Ltd has entered into a contract on June 4th 2024 with Board of Investment of Sri Lanka (BOI) as part of the agreement signed in between Ministry of Power & Energy to supply Petroleum products in Sri Lankan Market.

The Government has initiated preliminary action to regularise the samurdhi banking system by taking a cabinet decision to bring samurdhi community-based banks and community-based banking societies under a state audit.

The Cabinet has approved the memorandum presented by President Ranil Wickremesinghe to provide food and essential services to residents in Kolonnawa and other areas in the country affected by recent floods as a result of adverse weather conditions. This decision was made during the Cabinet meeting held yesterday (03).

Women comprise 46% of new recruits and 27% of board positions

The Department of Export Agriculture has confirmed that last year’s pepper harvest exceeded 30,000 metric tons. The annual yield of pepper in Sri Lanka is about 23,000 metric tons.

President Ranil Wickremesinghe stressed that with the stabilization of the country’s economy; there should be no inclination towards traditional politics. He underscored that the country can only be moved forward through a structured plan.

Softlogic Holdings PLC has announced a significant partnership between its subsidiary, Softlogic City Hotels (Private) Limited, and the internationally renowned hotel operator Minor Hotels.

Sri Lanka welcomed over 100,000 visitors in May, with year-to-date (YTD) arrivals at the verge of exceeding the 900,000 milestone.

The Ministry of Power and Energy announced the disconnection of power supply to several areas in the Galle, Kalutara, Ratnapura, Colombo and Kegalle districts.

The Lanka Hospitals Corp. PLC announces that the company has been notified by the Department of Public Enterprise of the Ministry of Finance, regarding a decision by the Board of Directors of Sri Lanka Insurance Corporation Limited to transfer its shares in The Lanka Hospitals Corp. PLC to the Secretary of the Treasury.

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