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Sri Lanka explores the possibility of buying Russian oil & fertilizers

The Sri Lankan government is seeking Russian cooperation in multiple sectors, namely, tourism, air traffic, and locomotive construction, besides eyeing crude from Moscow.

CB maintains interest rates at current level with tight monetary policy.

The Monetary Board of the Central Bank of Sri Lanka decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 15.50 per cent and 16.50 per cent, respectively.

Sri Lanka to lose US$10 billion as compensation for the the X-Press Pearl Disaster

Time is running out for Sri Lanka to take legal action for the X-Press Pearl Disaster claiming environmental damage caused by the fire that broke when the vessel approached the Port of Colombo on May 19, 2021.

Local apparel sector demand declines amid liquidity and interest rate risks

Sri Lanka’s exports of clothing totaled US $ 778.4 million in January–February 2023, a decline of 16.8 percent from the US $ 935.6 million in exports during the same period of the previous year. Due to the global economic recession in February 2023, its exports of clothing fell by 14.7 per cent.

SL’s first ‘Biotechnology Innovation Park to come up in Pitipana, Homagama

Sri Lanka’s first Biotechnology Innovation Park is set up at a 13.2-acre facility in Pitipana, Homogama.

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President Orders Faster Development of Katunayake Airport and Domestic Airports

President Anura Kumara Dissanayake has directed officials to accelerate ongoing projects to increase passenger-handling capacity and improve facilities at Katunayake International Airport, while also advancing the development of domestic airports across the country to meet future aviation demands. The directive was issued during a discussion on the 2027 Budget proposals for the Ministry of Ports and Civil Aviation held at the Presidential Secretariat. During the meeting, the President reviewed the progress of development projects at Katunayake Airport and stressed the importance of completing them without delay. He also highlighted the need to expand supporting infrastructure, including road networks surrounding the airport, to improve accessibility and accommodate growing passenger traffic. Improving convenience and facilities for air travellers at both Katunayake International Airport and regional airports was another key focus of the discussion. The meeting was attended by Minister of Ports and Civil Aviation and Minister of Energy Anura Karunathilaka, Minister of Labour and Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando, and Deputy Minister of Ports and Civil Aviation Janith Ruwan Kodituwakku. Other participants included Chief of Staff to the President Prabath Chandrakeerthi, Senior Additional Secretary to the President and Secretary to the Ministry of Energy Russell Aponso, Secretary to the Ministry of Finance, Planning and Economic Development Dr. Harshana Suriyapperuma, and Secretary to the Ministry of Ports and Civil Aviation W. W. S. Mangala. Deputy Secretary to the Treasury A. K. Seneviratne, Director General of the Department of National Budget Jude Nilukshan, and other officials from the relevant institutions and the Ministry of Finance also attended the discussion.
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