CBSL Chief urges banks to tighten controls amidst critical AML/CFT review
Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe urged the banking sector to prepare for Sri Lanka’s third Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) framework evaluation, warning that a negative listing in the assessment could severely undermine the country’s economic progress.
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Sri Lanka Biz confidence matches its all-time high
A leading business magazine says that “business confidence has nudged up to match its all-time high amid multiple sensitivities.”
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First Shipment of Personal Use Vehicles Arrives in Colombo after Five Years
After five years, a shipment of motor vehicles imported for personal use arrived at the Colombo port today.This shipment was made possible following the government’s decision to ease import restrictions.
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Access Logistics Pvt Ltd signs PPA with Sri Lanka power utility CEB
Access Logistics Park Ekala (Pvt) Ltd, a fully owned subsidiary of Access Engineering PLC, has entered into a power purchase agreement (PPA) with the Ceylon Electricity Board (CEB), the company said.
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SL consumer goods market competition intensifies amidst inflation targeting
Sri Lanka is seeing new entrants and products in several markets with the central bank helping drive down costs with currency stability, a top player in fast moving consumer goods, stationery and healthcare.
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Govt to launch a SME incubator system campaign with Rs. 1 billion budget support
The Ministry of Industries is gearing up to launch a nationwide SME incubator system campaign backed by the Rs. 1 billion allocation dedicated for research and development (R&D) commercialisation under the government’s 2025 budget.
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Sri Lanka foreign exchange earnings rise to US$26bn in 2024
Sri Lanka has earned 26.23 billion US dollars through exports of goods and services, including tourism and labour in 2024, up 12.6 percent from 23.29 billion a year earlier, data from the central bank shows.
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Dredging at Hambantota Port to Restore Harbor Depth
The Hambantota International Port (HIP) began maintenance dredging this month in order to restore the harbour’s original depth. The operation undertaken by HIP to ensure the continued safe navigation of vessels began early February and is expected to be completed in approximately two months.
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Legal liquor consumption down by 9.5% in first ten months of 2024 amid tax
Sri Lanka’s legal liquor consumption declined by 9.5 percent Year-on-Year (YoY) in the first ten months of 2024, driven by a significant drop in hard liquor consumption following tax increases, according to the Ministry of Finance.
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Sri Lanka and India to jointly establish solar power plants in Trinco
The Cabinet of Ministers has approved the proposal presented by the Minister of Power and Energy to take further necessary steps related to the establishment of two solar power plants with capacity of 50 Megawatt and 70 Megawatt at Sampur in Trincomalee, as a joint venture between Sri Lanka and India.
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