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Sri Lanka recorded 624,874 tourist arrivals by end of June this year and is confident of reaching its target of 2 million tourist arrivals by the end of this year. Sri Lanka Tourism Promotion Bureau (SLTPB ) with the support of Sri Lanka Tourism Development Authority (SLTDA) and Sri Lanka Convention Bureau (SLCB), marked a […]
Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.The post Sri Lanka set to start tea-for-oil barter with Iran next month appeared first on ONLANKA - Latest Breaking News updates on Sri Lanka.
The Sri Lanka Banks Association (SLBA) has urged policymakers to engage with commercial banks via the Central Bank of Sri Lanka (CBSL) to ensure a comprehensive and well-coordinated approach to alleviating the stress felt by the industrialists in loan default, following the COVID-19 pandemic and the economic crisis. The Association, which represents all Licensed Banks […]
By Rathindra Kuruwita The appreciation of Sri Lankan rupee against major foreign currencies alone was not an indication of economic stabilisation, H M C G Bandara, Senior Lecturer at the Sabaragamuwa University says.Bandara said that exchange rates, interest rate and inflation had become hot topics and the public used that to gauge the health of […]
By N Sathiya Moorthy Addressing a teacher-centric event at ‘Temple Trees’ the other day, President Ranil Wickremesinghe underscored the importance of English education and promised to ensure that teachers and necessary resources are provided for the purpose. In the same vein, he also highlighted that the opportunity should also be given to learn languages such as […]
[…]The post FDIs – BOIs & Exchange Crisis appeared first on Colombo Telegraph.
By Y P Prakash The current state of Sri Lanka evokes memories of India’s experience in the 1990s, although India was able to rectify the situation before it escalated to a critical level akin to a Bastille-like crisis. By 1991, India found itself on the brink of sovereign default. The Gulf War exacerbated the situation […]
Sri Lanka’s national carrier is expecting a profit of USD 50 million for the upcoming year, SriLankan Airlines CEO Richard Nuttall revealed, adding that he also expects passenger traffic to surpass pre-COVID levels by the end of 2023 owing to the ‘economic boom’ in tourism.The post SriLankan CEO believes ‘worst is over’, expects $50 Million profit next year appeared first on ONLANKA N...
By Rathindra Kuruwita The Sri Lankan government was not allocating funds to ensure the availability of essential public goods despite the gradual stabilisation of the economy, Prof. Priyanga Dunusinghe, of Department of Economics at the Colombo University said addressing the media. “
Representing Sri Lanka at the 14th International Infrastructure Investment and Construction Forum (14th IIICF) Friday (02), Minister of Ports, Shipping and Aviation – Nimal Siripala de Silva said that under the leadership of President Ranil Wickremesinghe, the government was dedicated to driving the digitalization initiative forward under name ‘DIGIECON 2030’, signifying a pivotal step towards [&#...
By Prsanna Brahamana reporting from Bangkok Outgoing Thai Prime Minister Prayut Chan-o-cha while welcoming his Lankan counterpart Dinesh Gunawardena to Bangkok, on Wednesday, stated that Thailand and Sri Lanka’s bilateral ties go as far back as over 700 years. Premier Gunawardena is in Thailand to attend the two-day celebrations marking Vesak or Visakha Bucha in […]
Sri Lanka's central bank is expected to keep rates unchanged at its policy meeting this week as it continues to support the debt-laden economy amid persistently high inflation.The post Sri Lanka’s Central Bank to hold rates as inflation stays high appeared first on ONLANKA News - Sri Lanka
Cordelia Cruises is all set for its first international voyage to Sri Lanka in early June, and the new route is likely to boost the Indian cruise traffic by 25-30 per cent, according to a top official. The cruise liner, currently operating for domestic destinations, has witnessed a revival in the post-COVID era. The occupancy […]
Vietnam wants to develop its bilateral relations with Sri Lanka more effectively, Vietnam’s Deputy Prime Minister Tran Luu Quang said. Tran Luu Quang met with President Ranil Wickremesinghe in Tokyo. Talking to the Sri Lankan leader, Deputy PM Tran Luu Quang, who is paying a working visit to Japan, affirmed that Vietnam consistently attaches importance […]
By Harischandra Gunaratna Chairman of the Institute of Hospitality, Dr. Harsha Jayasinghe on Tuesday said the brain drain in the country had not only led to a serious loss of talent but also hampered the industry’s ability to provide high-quality services and meet the demands of national and international visitors. Speaking at the 31st AGM […]
The economic crisis has placed Sri Lanka among the 20 poorest countries in Asia. A report published on Insider Monkey noted that while Sri Lanka is classified as a developing country, it is currently facing an economic crisis characterized by the devaluation of its currency, increasing inflation, and a humanitarian emergency caused by a severe […]
Sri Lanka is mulling measures to lure back Chinese tourists in a bid to alleviate an unprecedented debt crisis, its tourism minister said, as the South Asian nation tries to stabilize the economy.The post Sri Lanka eyes Chinese tourism to help ease debt crisis appeared first on ONLANKA News | Sri Lanka Latest Breaking News and Top Stories - Sri Lanka News.
Sri Lanka is mulling measures to lure back Chinese tourists in a bid to alleviate an unprecedented debt crisis, its tourism minister said, as the South Asian nation tries to stabilize the economy.
Sri Lanka is among three South Asian governments that increased borrowing from domestic banks to finance their record debt, and, as a result, sovereign-bank nexus increased, heightening the financial sector’s vulnerability, according to a World Bank report. The other two countries are the Maldives and Pakistan, says a WB report, titled ‘A mixed bag for […]
Sri Lanka's creditor nations held their first meeting Tuesday to discuss restructuring the country's debt. But the largest creditor, China, stood by as an observer, raising doubts over the success of the process.The post Sri Lanka’s creditors hold 1st meeting, with China as observer appeared first on ONLANKA News ::. Latest Sri Lanka News with Breaking News Alerts from Sri Lanka.
tourists in 2023 for crisis-hit economy appeared first on Sri Lanka Breaking News and Top Headlines ...
Adventure tourism is playing a key role in helping Sri Lanka rebuild its economy after a turbulent few years for the South Asian nation.The post Sri Lanka looks to adventure travel to attract ‘quality’ tourists and help rebuild economy appeared first on Sri Lanka Breaking News and Top
Emirates is to promote Sri Lanka as an ideal destination for travellers, Tourism Minister Harin Fernando said. The Tourism Minister said that Emirates has played a major role in the revival of the tourism sector in Sri Lanka. Fernando expressed these views after Sri Lanka and Emirates signed an agreement to promote Sri Lanka as […]
Adventure tourism is playing a key role in helping Sri Lanka rebuild its economy after a turbulent few years for the South Asian nation.
Sri Lanka President Ranil Wickremesinghe addressed the United National Party (UNP) May Day celebrations held at the Sugathadasa Indoor Stadium in Colombo yesterday (May 01) through video technology.The post Sri Lanka President says Let 2048 be the year of development for Sri Lanka appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
The government is to allocate Rs. 1 billion for Artificial Intelligence (AI) technology next year, President Ranil Wickremesinghe said. President Wickremesinghe commented on the potential for Artificial Intelligence technology to contribute to the country’s development. He instructed officials from the Ministry of Technology to form a presidential task force comprising AI experts and prepare...
Sri Lanka's economy is expected to shrink by 2% in 2023, its central bank said in an annual report on Thursday, as the country struggled to emerge from its worst financial crisis in decades.The post Sri Lanka’s economy to shrink by 2% in 2023, Central Bank says appeared first on Sri Lanka
Celebrating over three decades of service and support to grow microfinance customers across the island, Sri Lanka’s leading private sector bank HNB PLC, revived its annual trade fair and exhibition for Micro, Small and Medium Enterprises (MSMEs) The Gami Pubuduwa Pola 2023. Organised by the bank to showcase up-and-coming businesses in its portfolio, the trade […]
Sri Lanka is working on attracting more investment from Saudi Arabia, the island nation s envoy in Jeddah told Arab News, as Saudi support is seen as important to help put the Sri Lankan economy back on track.
Contactless payment methods are becoming increasingly popular throughout the hospitality sector, and for good reason. They embrace some of the most cutting-edge technology while providing guests with a more user-friendly experience. Avanthi Colombage, Country Manager, Sri Lanka and Maldives, Visa said: “When a tourist visits a new country, they experience various purchase touchpoints – for [...