Development and Economic News

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.

Elon Musk, the visionary entrepreneur behind SpaceX, has once again captured the world’s attention with the latest updates on Starlink, the ambitious satellite internet constellation designed to provide global high-speed internet access.

e emphasized the imperative of promoting modern technologies, particularly Artificial Intelligence (AI), to attain future social and economic objectives within the country. He announced the commencement of this program slated to initiate next year,

The Thai cabinet has adopted multiple visa measures to stimulate tourism, which will benefit tourists from 36 more countries including Sri Lankan travelers who may have plan to stay in the kingdom for more than 30 days.

Although the Central Bank said the current monetary policy stance is appropriate to both maintain inflation in line with their desired goal of 5 percent while supporting the recovery in the economy, they kept the door open for future rate cuts, but said that depends on fresh data.

Sri Lanka's Power and Energy Minister Kanchana Wijesekera announced that coal power plants in Sri Lanka will be decommissioned, as per the country's long-term generation plan.

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