Development and Economic News
Central Bank unveils a surprise policy rate cut after inflation decline
The Central Bank yesterday delivered a surprise policy rate cut, bringing nearly two years long tightening cycle to a close and left open the door for further rate cuts in the next few months among other measures to ease remaining restrictions on imports to reverse the prolonged economic contraction.
SL monthly tourist arrivals fall below 100, 000 for first time this year
Tourist arrivals to Sri Lanka fell below the 100,000 mark for the first time this year due to the drop in momentum in the month of May,
Govt. widens tax net via new gazette targeting professionals
The Government has widened the tax net making it mandatory for professionals belonging to 14 categories to register themselves with the Inland Revenue Department.
Tourism Alliance launches destination consumer marketing campaign
Sri Lanka Tourism Alliance (SLTA) said yesterday its destination consumer marketing campaign had reached new heights.
Sri Lanka and IMF look at strengthening financial governance
Sri Lanka and the International Monetary Fund (IMF) have looked at strengthening financial governance in Sri Lanka.
Sri Lanka plans to start Colombo-Istanbul direct flights
Sri Lanka plans to start direct flights between Colombo and the Turkish city Istanbul, the Ministry of Ports, Shipping and Aviation said in a statement on Tuesday.
Sri Lanka seeks South Indian ‘Superstar’ Rajinikanth’s help to boost tourism
The Deputy High Commissioner of Sri Lanka, Dr. D. Venkateshwaran met with Padma Bhushan ‘Superstar’ Rajinikanth, a renowned actor from South India, at his residence on Monday (May 29).
India further extends US$ 1billion credit line for another year
The signing of the agreement to extend the USD$ 1,000 million assistance scheme from India for the import of essential materials for a further period of one year has been carried out today (May 30), says Minister of Finance Shehan Semasinghe.
Sri Lankans overseas can renew or apply for a new passport online
Sri Lankans living overseas can apply for a new passport or renew their passport online from 01 June, the Parliament Sectoral Oversight Committee on International Relations was told.
Sri Lanka’s merchandise exports plunges 16.5 percent in April
Sri Lanka’s merchandise exports plunged 16.5 percent year-on-year (YoY) to US $ 814.1 million in April, bringing the cumulative export earnings for the first four months of 2023 to US $ 3.81 billion.