Development and Economic News
Sri Lanka to boost tourist arrivals from India
The government will be accelerating the tourism arrivals from India, leading hospitality and travel entities in the island
Central Bank revokes margin deposit requirements against imports
The Central Bank of Sri Lanka (CBSL) says the Banking Act directions made by its Monetary Board on cash margin deposit requirements against imports have been revoked.
Thereby, the revocation, made pursuant to Sections 46(1) and 76(J)(1) of the Banking Act No. 30 of 1998, is effective immediately.
Sri Lanka’s Tea Industry to penetrate lucrative Chinese market
Sri Lanka’s Tea Industry with options for expansion is to be guided towards penetrating Lucrative Chinese market by introducing immediate export promotion strategy Sri Lankan Ambassador in China Dr. Palitha Kohona said.
Sri Lanka chicken and egg issue focusses on Indian import controversy
Imported eggs from India have begun to appear in Sri Lankan markets priced at 35 rupees per egg although initially intended for use only in the cake and biscuit industry, later these eggs became available to consumers as well, official sources said.
Published in Development and Economic News
Port City Colombo begins construction stage attracting over US$ 14 billion
Port City Colombo (PCC), the ground-breaking infrastructure project aimed at reshaping Sri Lanka's economic landscape, celebrated a momentous milestone as its infrastructure development phase nears completion and commercialization is set to begin.
Japan provides US $ 4.6 million via FAO to boost SL paddy production
The Government of Japan provides US$ 4.6 million through FAO to boost paddy production in the dry and intermediate zones of Sri Lanka
BOC posts subdued 1Q performance amid unprecedented challenges
Bank of Ceylon (BOC) has reported Rs.3.3 billion of profit before tax for the three-month period ended on March 31, 2023, amidst the unprecedented challenges continued to prevail from the previous year.
BOC posts Rs3.3 billion profit before tax in 1Q2023
The Bank of Ceylon said yesterday it reported Rs. 3.3 billion of Profit before Tax (PBT) for the three-month period ended 31 March amidst the unprecedented challenges continued to prevail from previous year.
Financial Sector Support Fund to boost foreign reserves
A Financial Sector Support Fund to ensure macro-stability has been proposed as one of the key solutions for for foreign reserve depletion.
IMF team evaluates economic reforms programme progress
A staff team of the International Monetary Fund (IMF) now in Sri Lanka is currently holding talks with government’s key fiscal and monetary officials directly involved in IMF procedures, Finance Ministry sources confirmed.