Development and Economic News
EDB empowers women-led businesses to succeed
The Women Entrepreneurship Development Program organised by the Sri Lanka Export Development Board (EDB) focused on the theme ‘Branding through Packaging’ to support women-led businesses in Sri Lanka.
Use of Cryptocurrency and its Investment Risks - A Special Announcement from the Central Bank
The Central Bank of Sri Lanka has issued a special announcement regarding the use of cryptocurrencies
Fuel price revision will be reduced from midnight today
Minister of Power and Energy, Kanchana Wijesekera says that the fuel price will be revised from midnight today.
Govt to enact Banking (Special Provisions) Act by December 2023
The Government is to enact the Banking (Special Provisions) Act by December this year following the approval of the cabinet of Ministers in June, finance ministry sources confirmed.
Rates slump most in a week on positive sentiments after IMF Board approval
The prime lending rate fell the most or by 204 basis points last week to settle at 21.74 percent, marking the biggest weekly slump in benchmark lending rates for the shorter term facilities for prime and corporate clientele of commercial banks.
Gov.to update commercial arbitration rules to facilitate foreign investors
Sri Lanka’s commercial arbitration regulations will be updated with in a month while bringing the International Arbitration Centre (IAC) set up at the World Trade under the purview Colombo Port City, Justice Minister Wijedasa Rajapksa divulged.
Considerable price reduction of vegetables, seen at the manning market, peliyagoda.
Due to economical crisis in the country people compelled to evade or control buying vegetables.
Government to earn over Rs 22 billion Casino, cigarette and alcohol taxes
Sri Lanka is expecting to earn Rs 22.5 billion rupees from a hike in Casino, cigarette and alcohol taxes.
in 2021 Due to nonavailability of sufficient, adequate transport facility one crore of people wasted food items which could be consumed by the populace.
According to the Ministry of Agriculture, 19% of vegetables and 21% of fruits are destroyed in transportation in Sri Lanka annually.
IMF bailout to put foreign exchange reserve to pre-crisis levels: CB Governor
The International Monetary Fund (IMF) bailout will help bring Sri Lanka’s depleted foreign exchange reserve to pre-crisis levels in four years, said the country’s central bank governor.