Sri Lanka Customs Set to Achieve Historic Rs. 1.5 Trillion Revenue Target in 2024
Sri Lanka Customs is on track to make history by surpassing Rs. 1.5 trillion in revenue for the first time. With less than a month remaining in 2024, the Department has already collected over Rs. 1.41 trillion, signaling a strong finish to the year. Record-Breaking Revenue Growth Director General Sarath Nonis revealed that as of […]
Argentina’s Fiscal Triumph: The Milei Miracle
In the annals of economic history, few stories are as striking as the fiscal turnaround witnessed in Argentina under President Javier Milei. A year ago, the nation grappled with an economic narrative more akin to a cautionary tale than a success story, characterized by rampant inflation, excessive government spending, and a fiscal deficit that seemed […]
Food Policy and Safety Committee to boost national food security
Ensuring food security is one of the most critical challenges for any nation. To address this, Sri Lanka has introduced a major step forward by forming the Food Policy and Safety Committee under the Presidential Office. This initiative, approved by the Cabinet of Ministers on December 11, 2024, reflects the government’s commitment to ensuring that […]
Japan’s shipbuilding giant Onomichi to exit Sri Lanka
IntroductionColombo Dockyard PLC (CDL), Sri Lanka’s pioneering shipbuilding and repair company, is at a pivotal moment in its history as its majority shareholder, Japan’s Onomichi Dockyard Company Ltd., has decided to exit. This decision brings an end to over three decades of partnership and leaves CDL in search of a new strategic investor to ensure […]
Tourism earnings up 56% to $ 2.8 b in first 11 months
Sri Lanka’s tourism sector has showcased a stunning recovery in 2024, recording a 56% increase in revenue, accumulating over $2.8 billion in the first 11 months of the year(Tourism Earnings). This significant growth highlights the industry’s potential as a major contributor to the country’s economic revival. November 2024: A Month of Remarkable Growth In November […]
Palm oil industry pushes for ban reversal under new Govt.
Sri Lanka’s palm oil industry is urging the government to reconsider the 2021 ban on oil palm cultivation. Advocates argue that lifting the ban could provide significant economic, environmental, and strategic benefits. During the Palm Oil Industry Association of Sri Lanka (POIASL)’s fifth Annual General Meeting (AGM), its president, Dr. Rohan Fernando, emphasized the importance […]
Govt. Invests Rs. 44 Billion in Locally Manufactured Medicines
In a significant move to address medicine shortages and promote local production, the Government has approved the procurement of medicines and medical supplies worth over Rs. 44 billion from local manufacturers. This initiative aims to enhance the availability of essential medicines in hospitals and clinics while boosting the pharmaceutical industry. Cabinet Approval and Procurement Strategy […]
Sri Lanka Tourism Records Growth in November with 1.8 Million Visitors Year-to-Date
Sri Lanka’s tourism sector marked a significant milestone in November, crossing 1.8 million tourist arrivals in the first 11 months of 2024(Tourism Growth). November itself recorded 184,158 visitors, making it the highest monthly tally since July 2024 and a promising sign of recovery for the industry. November Sees a 22% Growth Year-on-Year Tourist arrivals in […]
ශක්තිමත් අපනයන වර්ධනය 2024 ඔක්තෝම්බර් මාසයේදී ශ්රී ලංකාවේ බාහිර අංශය ශක්තිමත් කරයි
ශක්තිමත් අපනයන කාර්ය සාධනය සහ වැඩි වූ විදේශ ගලා ඒම මගින් ශක්තිමත් වූ ශ්රී ලංකාවේ බාහිර අංශය(External Sector) 2024 ඔක්තෝම්බර් මාසයේදී කැපී පෙනෙන වර්ධනයක් අත්කර ගත්තේය. විදේශ සංචිත ඉහළ යාමට, වෙළෙඳ හිඟය අඩුවීමට සහ ශ්රී ලංකා රුපියල අඛණ්ඩව ඉහළ යාමට මෙම සාධක හේතු විය. ශ්රී ලංකා මහ බැංකුව (CBSL) සිය නවතම බාහිර අංශයේ වාර්තාවේ මෙම […]
Robust Export Growth Strengthens Sri Lanka’s External Sector in October 2024
Sri Lanka’s external sector witnessed remarkable growth in October 2024, bolstered by strong export performance and increased foreign inflows. These factors contributed to higher foreign reserves, a narrowing trade deficit, and a continued appreciation of the Sri Lankan rupee. The Central Bank of Sri Lanka (CBSL) detailed these developments in its latest external sector report. […]