Development and Economic News
Credit regulation authority bill enacts soon to tackle loan sharks
The government will enact a credit regulation authority act in parliament to regulate the moneylending business and the microfinance business and to provide for matters connected therewith, including protection of customers of said businesses.
EU extends EUR 15mn grant to promote circular economy in SL’s food sector
Sri Lanka and the European Union (EU) entered into a financing agreement to promote a circular economy and sustainable consumption and production in the food sector, finance ministry announced.
Budget 2024 way forward towards fiscal and monetary policy constancy: Ravi K
Sri Lanka's government announced a way forward budget for 2024 on Monday 13 signaling the fiscal policy consistency for the first time with economic benefits trickling down from the top to the bottom, former Finance Minister Ravi Karunanayake defined. .
FAO, EU to train 6,000 SL paddy farmers on sustainable cultivation
The Food and Agriculture Organization of the United Nations (FAO) together with the Department of Agriculture and the Mahaweli Authority of Sri Lanka, with funding from the European Union (EU), has launched a Farmer Field Schools Program.
ADB backs future water supply projects in Sri Lanka
A discussion has been taken place at the Presidential Secretariat, chaired by Senior Advisor to the President on National Security and Chief of Presidential Staff Sagala Ratnayaka, with representatives from the Asian Development Bank (ADB).
FitsAir announces integration with Mastercard Payment Gateway
FitsAir, Sri Lanka’s first privately owned international airline, today announced its partnership with Mastercard involving integration with the Mastercard Payment Gateway Services (MPGS) platform to strengthen its payment infrastructure.
Norochcholai Coal power plant break down persists for 14 days
The Ceylon Electricity Board (CEB) yesterday (19) stated that it would take a minimum of 14 days to repair the Unit 2 generator of the Lakvijaya Power Plant in Norochcholai, which broke down, resulting in the loss of 300 Megawatt (MW) of generation capacity to feed the national grid.
74,664 tourists arrive in Sri Lanka in first two weeks of Nov.
Altogether 74,664 foreign tourists arrived in Sri Lanka in the first 15 days of November, according to the latest statistics released by the Sri Lanka Tourism Development Authority (SLTDA).
China donates motorcycles and computers to Sri Lanka Police
The People’s Republic of China officially handed over 26 RANOMOTO motorcycles and 100 LENOVO desktop computers to the Sri Lanka Police Department in a ceremony at the Presidential Secretariat on Friday (10 Nov.).
More post office buildings in Sri Lanka for hotel projects
Two more post office buildings in Diyatalawa and Galle and three more ancient buildings in Kandy and Nuwara Eliya are to be offered for hotel projects through the Urban Development Authority (UDA) in addition to the historic Nuwara Eliya post office.