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Colombo-based Indian CEOs take up the challenge to invest in Sri Lanka
Sri Lanka is reeling under last year’s crushing economic meltdown and consequent political turmoil, but it is still a good time to invest in the cash-strapped island nation, according to Indian business leaders in capital Colombo.
European Investment Bank waits for IMF offer to unlock aid for Sri Lanka
The European Investment Bank (EIB) has expressed willingness to continue its financial assistance to Sri Lanka even making new fiscal commitments following the outcome of the country’s effort to gain the US$2.9 billion IMF extended Fund Facility.
More powers for BOI, assures state minister despite new authority in the offing
In the wake of a high regulatory powered investment promotion agency (authority) to attract more foreign direct investment (FDI), the Board of Investment of Sri Lanka (BOI) will be granted more powers.
Govt. settles Rs.191bn outstanding amount to public project contractors
Sri Lankan government construction contractors numbering around 3000 are in an urgent need of funding for their survival have been relieved as they have received Rs. 191 billion outstanding payment for the work completed in public construction projects including buildings and infrastructure facilities.
Health sector revolution begins with reopening private hospital non-paying wards
The government is working to ramp up public spending on health care in order to ensure continued provision of high-quality care throughout the state-run system, to implement new technologies across the sector and to prepare for a potential influx of medical tourists.