Development and Economic News

Sri Lanka is now on its way towards digital transformation via organisational overhauling driven by technology to enter onto the global stage, Technology Minister Kanaka Herath said.

Tuesday, 06 February 2024 09:17

Trinco Oil Tank Farm open for investment

The Ministry of Power and Energy will call for Expressions of Interest (EOIs) internationally from interested strategic investors for the joint development of the Trincomalee Oil Tank Farm in partnership with the Trinco Petroleum Terminal Ltd. (TPTL).

Sri Lanka will not agree with any debt relief proposal from bondholders that is not consistent with the debt sustainability (DSA) targets of the International Monetary Fund (IMF), Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe said.

The Government has decided to establish a new statutory body, the Investment Infrastructure Facilities Corporation.

Sri Lanka’s recent spate of spam texts send by scammers making excessive use of short message system or SMS for fraud, and illegal activities has pressed the government to take precautionary measures promptly, Ministry of Technology sources stated.

The Government has gained momentous progress on the debt restructuring process with the successful completion of the Domestic Debt Optimisation (DDO) which is expected to extend the maturity of domestic debt and reduce the stress on government finances, Central Bank Governor Nandalal Weerasinghe said .

The Colombo Plan, with funding from the US Embassy, on Wednesday launched a three-year program to enhance the technical expertise of Sri Lanka Ports Authority staff and advance “smart” port operations at the Port of Colombo.

The Government has decided to establish a new statutory body, the Investment Infrastructure Facilities Corporation.

Sri Lanka is set to export of granite stocks immediately, paving the way for a potential economic boost with the approval of the cabinet of ministers.

After a four-year hiatus Cathay Pacific yesterday resumed direct flights between Hong Kong and Colombo encouraged by an upturn in tourist and business travel.

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