Business News (242)
LOLC Divi Saviya has successfully completed Phase 03 of its education initiative, impacting 4,100 schools across Sri Lanka.
Straying from IMF debt plan could delay bailout: Finance Ministry
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The Finance Ministry has issued a strong warning about the significant risks associated with challenging the country’s current debt sustainability assessment (DSA). Such actions could endanger Sri Lanka’s ongoing International Monetary Fund (IMF) bailout programme, potentially delaying vital financial support for months or even years.
The government has approved two local and foreign joint ventures to establish casinos, out of 10 applications submitted to the Ministry of Finance as part of the country’s efforts to boost the gaming industry, according to the Board of Investment (BOI).
SL Economy grows by 4.7% in 2Q, powered by industrial sector
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Sri Lanka’s economy grew by 4.7% year-on-year (YoY) in the second quarter of 2024, continuing the upward momentum seen since September 2023.However quarter-on-quarter 2Q performance was lower than 5.3% growth achieved in 1Q.
Sri Lanka, China enter significant five-year period at a new turning point
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Chinese Ambassador Qi Zhenhong said both China and Sri Lanka are entering significant five-year periods and at a new turning point, which heralds greater opportunities for cooperation.
Sri Lanka records nearly 1.4 mln tourist arrivals so far in 2024
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Sri Lanka has recorded nearly 1.4 million tourist arrivals during the period elapsed this year.The Sri Lanka Tourism Development Authority (SLTDA) stated that the total number of tourist arrivals from January 01 and September 08, stands at approximately 1,395,773.
Sri Lanka state worker wage cost to rise 0.2-pct to 3.8-pct of GDP in 2025
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Sri Lanka’s public sector wage bill will rise to 0.2 percent to 3.8 percent in 2025, under increments proposed by a committee, the Finance Ministry has said.
IMF to nreject key parameter changes in Srilanka bailout program
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The International Monetary Fund (IMF) would not agree to changes in key parameters of Sri Lanka’s programme such as primary surplus and debt-to-GDP ratio, as proposed by opposition presidential candidates, Bloomberg Intelligence said.
Jaya Container Terminals celebrates 16 years of success with record-breaking growth
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Jaya Container Terminals Ltd. (JCT Ltd.), a fully owned subsidiary of the Sri Lanka Ports Authority (SLPA), recently commemorated its 16th anniversary.
Export Development Board anticipates over US $ 16 billion from exports in 2024
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The Sri Lanka Export Development Board (EDB) remains optimistic about achieving its ambitious export target of over US $ 16 billion for 2024.
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Financial Stability Fund to strengthen bank resolution framework
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Financial Stability Fund is to be set up with the aim of boosting the country’s bank resolution framework under the financial crisis management program led by the Central Bank of Sri Lanka (CBSL).
New deal reached to offer Rs. 1,350 wage structure for plantation workers
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In a significant development, wage negotiations culminated in an agreement to provide a daily minimum wage of Rs. 1,350 for the estate sector workers.
CMTA and Sudath Perera Associates reort legal action to combat fake spare parts
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The Ceylon Motor Traders Association (CMTA), the most senior automotive association in South Asia, and Sudath Perera Associates, one of Sri Lanka’s most reputed legal firms, specializing in intellectual property rights,
The Central Bank has relaxed the mandatory export conversion period in the latest exports proceeds conversion rule which came into effect from 4 November.