Development and Economic News
Passenger ferry service from TN to Sri Lanka befins from Oct first week
The Shipping Corporation of India (SCI) is to commence high speed passenger ferry service from Nagapattinam in Tamil Nadu to Kankesanthurai (KKS) in Sri Lanka.
LOLC Holdings buys Unguka Bank PLC, in Rwanda,
LOLC Holdings PLC discloses that its sub-subsidiary LOLC Mauritius Holdings Limited, has acquired 90% of the ordinary voting shares of Unguka Bank PLC, in Rwanda, on 14th September 2023.
Softlogic buys International Brand "Bata" for Rs 230 million
Manufacturing License and Distribution Rights & Exclusive Retail Franchise Rights of the Renowned International Brand "Bata" and the Acquisition of Footwear Retailer Ltd
Sri Lanka Railways goes inder the hammer of privatization
Sri Lanka Railways is set to be partly privatized under public private partnership to provide abetter convenientand efficient service for commuters in accordance with the governmnt’s IMF dictaded policy of restrcuturing state institutions.
10 SL organic farming businesses display their export potential in Berlin
A high profile event held at the Embassy of Sri Lanka in Berlin on 8th September provided a unique platform for 10 Sri Lankan companies to showcase their organic agriculture products with export potential and connect them with potential buyers and investors in Europe.
South Korea pledges support for President Ranil’s economic recovery plan
South Korean President Yoon Suk-yeol pledged his support for President Ranil Wickremesinghe’s economic recovery plan for Sri Lanka and praised his counterpart’s program aimed at alleviating the severe economic crisis in the country and commended his dedication.
Sri Lanka’s overall money laundering risk rated as “medium
Sri Lanka’s overall money laundering and terrorism financing risk has been rated as “medium” as per the national assessment done by the Financial Intelligence Unit of the Central Bank of Sri Lanka.
Less than 30% Sri Lankans in favour of IMF program: Verité Research
Approximately 28% of the population believes Sri Lanka’s ongoing program with the International Monetary Fund (IMF) will make things better for Sri Lanka’s economy in the future, according to a new survey released yesterday by Verité Research.
Less than 30% Sri Lankans in favour of IMF program: Verité Research
Approximately 28% of the population believes Sri Lanka’s ongoing program with the International Monetary Fund (IMF) will make things better for Sri Lanka’s economy in the future, according to a new survey released yesterday by Verité Research.
SLTDA introduces Minimum Room Rates for Colombo hotels
Sri Lanka Tourism Development Authority (SLTDA) Chairman Priantha Fernando on Friday formally notified the General Managers of Colombo City hotels about the introduction of Minimum Room Rates (MRR) from 1 October 2023 ending speculation about a possible deferment due to protest by tour operators.