Apparel sector revenue records US$ 1.17 billion in 1Q 2024
Sri Lanka’s apparel industry saw its revenue cross the US$ 1 billion mark in the first quarter (1Q24) with exports expanding by 7.7 percent in March.
Draft bill on Parate Law suspensions to be presented in Parliament on 7 May
The Draft Bill of the Recovery of Loans by Banks (Special Provisions) Act, allowing for the temporary suspension of the Parate Law will be taken up for debate in Parliament on 7 May.
Bonza: Passengers stranded as Australian airline weighs its future
Australia's newest budget airline suspended all its flights on Tuesday, to discuss "the ongoing viability" of its business model.
US says Israeli army units violated human rights
The US state department has found five units of the Israeli military responsible for gross violations of human rights in individual incidents, but says they will continue to receive US military backing.
Situation on frontline has worsened, Ukraine army chief says
Ukraine's commander-in-chief has said the situation on the frontline has worsened in the face of multiple Russian attacks.
US Research Ship Enters Sea of Sri Lanka Despite Moratorium
The Ministry of Defense announced that a US research ship was denied permission to conduct research activities in the Sea of Sri Lanka.
Massive money transferring scam from accounts without notice
A massive scam is being operated where money is transferred from current and savings accounts to other multiple accounts without any notice to the account holder, an Opposition MP revealed in Parliament.
Delay in bond restructure stalls IMF board review on Sri Lanka’s reform progress
Having encountered “some setbacks” in the first round of sovereign bond restructuring talks in London last week, the Steering Committee of the Ad Hoc Group of Bondholders and the Sri Lankan official negotiators have pledged to continue the dialogue to arrive at a consensus within a few weeks, Finance Ministry sources confirmed.
IRD back-tracks reforms leading to revenue shortfall in 2024 despite 1Q gains
The Sri Lanka Inland Revenue Department (IRD) has been back-tracking the implementation of reforms leading to a revenue collection shortfall this year although it has exceeded the 2024 first quarter target by 13 per cent.
Sri Lanka’s continuation of present economic policy crucial for sustenance
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Sri Lanka co-chairs ASEAN Regional Forum inter-sessional meeting on disaster relief
The 22nd ASEAN Regional Forum (ARF) Inter-Sessional Meeting on Disaster Relief was held virtually earlier this week, hosted by Vietnam and co-chaired by Bangladesh, Sri Lanka and Vietnam, and attended by 55 participants from ARF member countries.
Sri Lanka-Russia discuss defence cooperation, cyber security
Defence Secretary Kamal Gunaratne met Secretary of the Security Council of the Russian Federation where they discussed a wide range of topics, including counter-terrorism efforts, cyber security and defence cooperation, the Ministry of Defence said.
Oriflame announces withdrawal from Sri Lanka due to economic challenges
Oriflame, a global beauty company, has announced its decision to withdraw from the Sri Lankan market effective 15 May 2024, citing a range of economic challenges that have made its operations unsustainable.
Sri Lanka ranks 5th among ‘World’s Best Countries to Visit in Your Lifetime, 2024’
Sri Lanka has been recognised as the 5th best country to visit in your lifetime, according to CEOWORLD Magazine’s prestigious rankings for 2024.