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Gavinro Investments introduces Sri Lanka’s first 300KM range EV commercial vehicle
Gavinro Investments, a distinguished player in the automotive space for over four decades, has joined hands with Sokon Singapore, a global leader in electric commercial vehicles to launch Sri Lanka’s first 300KM Range Electric Commercial Vehicle with a payload of 1.2 tonnes. The joint venture is founded on the shared vision of supporting the Sri […]
Air Arabia launches direct flights from Abu Dhabi to Colombo
Strengthening the connectivity between Sri Lanka and the UAE, Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier launched its first direct flight from Abu Dhabi to Colombo on Friday, 08 December 2023 from the Abu Dhabi International Airport. Air Arabia will now operate direct flights between Abu Dhabi and Colombo […]
CA Sri Lanka expands its presence in the United Kingdom with new overseas chapter
Embracing its role as a world-class professional body, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) continued to expand its global footprint by establishing a new chapter in the United Kingdom. The CA Sri Lanka United Kingdom Chapter was formally unveiled at a special event in Greater London, in the presence of […]
Constituent Change in the S&P Sri Lanka 20 Index
The Colombo Stock Exchange (CSE) announces the following change in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2023 year-end rebalance. The exclusion and inclusion as announced by S&P Dow Jones Indices, effective from 18th Dec 2023 (after the market close of 15th Dec 2023) are presented below. Exclusions […]
Hirdaramani Apparel, Lacoste Foundation, and UNDP Collaborate to Empower 100 Families
Hirdaramani Apparel and the Lacoste Foundation have come together through the United Nations Development Programme (UNDP) in Sri Lanka’s facility for Private Sector Giving to promote socio-economic recovery and food security and address its multidimensional vulnerabilities. To signify the partnership, Vinod Hirdaramani – Chairman, Hirdaramani Apparel, and Azusa Kubota – Resident Representative of UNDP in […]
IMF Staff Mission Recommends Avoiding Further Monetary Policy Loosening in Sri Lanka
The International Monetary Fund (IMF) staff mission visiting Sri Lanka has concluded that further loosening of monetary policy could be detrimental to the country’s economic recovery and advised against such measures. The mission emphasized the need to avoid “a faster-than-warranted monetary policy loosening” due to the potential for elevated inflation risks.They cautioned that such a […]
Sri Lanka and Thailand to Sign Free Trade Agreement in February 2024
The 8th round of negotiations for the Sri Lanka-Thailand Free Trade Agreement (SLTFTA) concluded successfully on November 29th, paving the way for a historic deal to be signed in February 2024. The negotiations, co-chaired by the Chief Negotiators of both countries, Auramon Supthaweethum (Thailand) and K. J. Weerasinghe (Sri Lanka), saw both sides agree to […]
FAO Delivers Climate Resilient ‘Unsinkable’ Boats & Model Fish Display Stalls to Strengthen Fisheries Sector
The Food and Agriculture Organization of the United Nations (FAO) handed over two specially designed climate resilient fishing boats and 30 modified fish display stalls to the Ministry of Fisheries, in line with FAO’s commitment to sustainable development and addressing climate change challenges. The SL20 and SL23 fishing boats, measuring 6.3 and 7 meters in […]
Public Investment for SDG Financing in Sri Lanka: Reality or Myth?
By Dr Lakmini Fernando Realising Sustainable Development Goals (SDGs) by 2030 requires substantial investment allocation, especially for developing economies like Sri Lanka. A recent IPS study found that Sri Lanka needs an additional investment of USD 1.4 trillion or 12.5 percentage points of GDP by 2030 to achieve SDGs. Despite Budget 2024 allocating 5.4% of […]
‘s First Review under the EFF Arrangement for Sri Lanka
The Ceylon Chamber of Commerce appreciates the Board approval of the International Monetary Fund’s (IMF) completion of its first review under the 48-month Extended Fund Facility (EFF) with Sri Lanka. This milestone, granting Sri Lanka access to approximately US$337 million, underscores the nation’s commitment to fulfilling key performance criteria and benchmarks. Notably, this includes the […]