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IFC local head contradicts CB heads view on US$ 400 million SWAP

The US$ 400 million cross-currency SWAP” for four Sri Lanka banks extended by the International Finance Corporation (IFC) of the World Bank is only to trade cash flows in one currency with that of another IFC’s Country Manager for Sri Lanka, Alejandro Alvarez de la Campa disclosed.

Sri Lanka to set up two floating solar power plants with Korean grant

Government is to embark on a floating solar project as it can potentially work well with hydro power generation.

UK launches its new trade preferences scheme in Sri Lanka

The UK Government has launched its new trade preferences scheme in Sri Lanka by holding a series of events in Colombo for the new trade preferences scheme – the Developing Country Trading Scheme (DCTS), which will come into force this year.

Senaro Motors hands over first locally assembled motorcycles to the President

Forced by import restrictions and encouraged with the introduction of the Standard Operating Procedure (SOP) for Local Assembly of Vehicles, a Sri Lankan automotive company has stepped in to motor cycle assembly to cater to the present demand.

Sri Lanka rupee to decline 25 percent of its value by end 2023.

Sri Lanka’s rupee is set to decline and lose almost a fourth of its value against the dollar by end-2023, according to. Bloomberg report.

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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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