BoC PBT up by 66%, deposit base increases to Rs. 4 Tn in 3Q-2024
In the first nine months of 2024, Bank of Ceylon skillfully navigated Sri Lanka’s complex economic terrain. Despite intense competition and global economic headwinds, the Bank achieved a remarkable profit before tax (PBT) of Rs. 37.6 billion, a substantial 66% increase over the same period in the previous year. General Manager, Chief Executive Officer, Russel Fonseka emphasized, “Our robust financial …
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Israel removes severe travel warning for Sri Lanka beach town of Arugam Bay
National Security Council Israel lowers threat level for Arugam Bay area from 4 to 2, after suspects arrested in connection to IRGC plot to kill Israelis Israeli authorities Wednesday eased a travel warning for Sri Lanka on Wednesday, some three weeks after cautioning tourists at a popular beach town of an imminent terrorist threat.
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JICA plans new support for Sri Lanka’s estate sector
Sri Lanka’s estate sector community is likely to receive significant multinational support, with the Japan International Cooperation Agency (JICA) looking to extend its assistance to improve the social and economic conditions of the estate communities.
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Government to compile detailed SME loan report to plan relief measures
The government has planned to compile a detailed report on loans taken by Small and Medium-sized Enterprises (SMEs) across the country to help create relief measures for the businesses struggling with debt.
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BOI to facilitate risk mitigation to SAARC members through dedicated industrial parks
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CNL Reporter
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November 13, 2024
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Business News
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BOI, SAARC
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0 Comments
Proposed country-specific industrial parks is aimed at addressing concerns around economic and political risks associated with single-market operations Effort expected to foster bilateral trade, reduce investment risk, and create new avenues for economic cooperation New BOI Chief points out inter-regional trade remains at negligible levels of around five percent of overall trade in the region, in contrast to the 32 …
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Sri Lanka to rank among the world’s fastest-growing travel destinations
Sri Lanka is expected to rank among the world’s fastest-growing travel destinations in 2025, with tourism spending forecasted to increase by 40 percent, according to the 2024 WTM Global Travel Report, published in partnership with Tourism Economics.
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HVA Foods partners Müggenburg Group Germany
HVA Foods PLC, a member of the George Steuart Group, announces its exclusive distributor partnership with Müggenburg Group, Germany, a renowned family-owned company with over 80 years of expertise in high-quality herbs and botanicals.
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Sri Lanka’s foreign- reserves surged by 81% year-on-year in October
Sri Lanka’s foreign-exchange reserves surged by an impressive 81% year-on-year in October 2024, reaching USD 6.5 billion due to the support of its IMF program, according to Fitch Ratings.
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Sri Lanka nears 1.7 m tourist arrivals with surge in November
Sri Lanka’s tourism sector continued its robust rebound with over 61,000 arrivals in the first 10 days of November, bringing the year-to-date (YTD) to over 1.68 million.
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Sri Lanka targets US $ 8 billion in apparel exports next year
Policy consistency is key to achieving US $ 8 billion in apparel exports next year, up from an estimated US $ 5 billion in 2024, according to the Joint Apparel Association Forum (JAAF).
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