The Central Bank has taken steps to regulate informal money transfer systems including Undial and Hawala to ensure financial stability and prevent illicit activities.The Undial and Hawala systems are informal, trust-based methods of transferring money, common in South Asia and West Asia.
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Sri Lanka central bank’s net foreign assets rose to about 310 million US dollars in November 2024, official data show, as it bought foreign exchange outright through deflationary policy and also settled reserve related liabilities.
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The highly delayed operational expansion of the Jaya Container Terminal (JCT) is affecting operations at the Colombo Port while doubling the building cost along with the procurement of new gantry cranes.
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Recognized by the BBC as the ninth destination on its prestigious list of “The 25 Best Places to Travel in 2025,” Sri Lanka continues to capture the imagination of travelers worldwide.
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The transshipment volumes handled by the Port of Colombo jumped by 9.7 percent year-on-year (YoY) to a record high of 6.31 million 20-foot equivalent units (TEUs) in 2024, with the transshipment volumes accounting for 81 percent of the port’s container throughput during the year.
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Sri Lanka’s new food regulation, mandating an 80 percent extraction rate for wheat flour has raised serious concerns across the industry, with stakeholders warning that its immediate roll-out could alter consumption patterns, and in turn have adverse effects on key sectors.
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The tourism industry is witnessing a remarkable surge, welcoming over 112,000 visitors in the first two weeks of January, setting an optimistic tone for Sri Lanka’s trajectory in 2025.
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Sri Lanka State Trading Corporation says that 15,000 metric tons of salt ordered from India will arrive in Sri Lanka next week.General Manager of the Corporation, Chamila Iddamalgoda confirmed that permission has been granted to two importers to import salt from India to Sri Lanka.
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Sri Lanka’s tea production hit a three-year high in 2024, bouncing back from detrimental policy decisions in 2021 and the lingering impacts of climate change.
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Employees of Lumala City Cycle Industries Manufacturing Ltd., are calling for urgent Government intervention as their company faces an unprecedented crisis that threatens to shut down one of South Asia’s leading bicycle manufacturers.
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