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5 days ago · Ambassador of Sri Lanka holds discussions with the Minister of Industry and Technology of Türkiye on commercialization of R&D. Ambassador of Sri Lanka to Türkiye, Hasanthi Urugodwatte Dissanayake recently called on Minister of Industry and Technology of Turkiye, Mehmet Fatih Kacır, and discussed how both countries can learn from each other in science, technology, research, innovation and ...
Sri Lanka Apparel achieves 5% export growth in 2024, Eyes in …
3 days ago · Sri Lanka’s export earnings from apparel in 2024 reached USD 4.7 billion, recording a year-on-year growth of nearly 5%, according to the Joint Apparel Association Forum (JAAF). Adding the country’s direct exports of textiles takes the overall export value to just over USD 5 billion. This underscores the resilience of the country’s textile and apparel...
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Sri Lanka and China extend $1.4 billion currency swap for three more years. The Central Bank of Sri Lanka and the People’s Bank of China, in December 2024, successfully renewed the Bilateral Currency Swap Agreement signed in 2021, for a period of another three (03) years, under the terms and conditions stipulated in the original agreement.
ASPI reaches record high amid strong market turnover
5 days ago · Sri Lanka’s stock market recorded historic growth today (22), with the All Share Price Index (ASPI) reaching a record-breaking 16,828.80 points, gaining 231.64 points in a single session. The S&P SL20 index followed suit, increasing by 100.17 points to close at 5,147.62. Investor confidence was reflected in a high transaction turnover, with Rs. 10.66 billion...
Sri Lanka's Economy Stabilized; Continued Reforms Critical to …
Oct 10, 2024 · Sri Lanka’s economy has stabilized, with growth expected to reach 4.4 percent in 2024, surpassing earlier forecasts. This positive outlook follows four consecutive quarters of growth driven by the industrial and tourism sectors and supported by critical structural and policy reforms, says the World Bank. Released today, the World Bank’s bi-annual Sri Lanka Development Update, titled Opening...
World Bank Signs Additional $200 Million to Support Sri Lanka’s ...
Oct 7, 2024 · The World Bank and the Government of Sri Lanka today (07) signed the Second Resilience, Stability, and Economic Turnaround (RESET) Development Policy Operation (DPO) for $200 million. This is the second operation in a two-part series that began in 2022. The first operation, totaling $500 million, was disbursed in June …
Business Sentiment: Index Climbs to an 11 Month High
May 31, 2024 · Business confidence spikes for a third consecutive month to nearly three digits Sri Lanka’s internal affairs are heating up with critical agreements pending regarding debt restructuring. The government however, is confident that the process will be completed in time for the release of the third IMF tranche in June. President Ranil …
Sri Lanka holds rates steady, sees rosy inflation, growth outlook
Sep 27, 2024 · Reuters – Sri Lanka’s central bank kept interest rates unchanged on Friday in line with expectations, citing domestic and global uncertainties, but said inflation was likely to remain low and the economy was doing much better than initially expected. The Central Bank of Sri Lanka (CBSL) kept the Standing Deposit Facility Rate at 8.25% and...
Remarkable Surge in Agricultural Exports in First Half of 2024
Jul 16, 2024 · Of the USD 250.9 million expected to be settled from tea exports to Iran for fuel debt, US$ 55 million has been paid so far – Chairman of Sri Lanka Tea Board. A Coconut Triangle established in the Northern Province to improve living conditions in the region – Chairman of CDA. Special program initiated to...
Cabinet Approves the National Trade Facilitation Roadmap for Sri …
Sep 20, 2024 · In a landmark decision, the Cabinet approved the National Trade Facilitation Roadmap for Sri Lanka bill marking a significant step forward in Sri Lanka’s journey to modernize its cross-border trade processes and align with global trade facilitation standards. The roadmap now serves as the country’s official strategy for driving comprehensive trade reforms, aimed at …