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Sri Lanka’s Forex Reserves Rebound Strongly, but Debt Challenges ...
22 hours ago · Sri Lanka’s foreign-exchange reserves surged by an impressive 81% year-on-year in October 2024, reaching USD6.5 billion due to the support of its IMF program, according to Fitch Ratings. This boost in reserves is a significant development for the country’s economic stability, providing a stronger buffer against external shocks. However, Fitch …
Government Prioritizes Relief for Small and Medium Enterprises in …
1 day ago · Government to Compile Report on Loans Taken by Small and Medium Enterprises from Banks A special meeting was held Yesterday (11) at the Presidential Secretariat to address relief measures for Small and Medium Enterprises (SMEs) facing financial challenges. The meeting was led by the Senior Additional Secretary to …
Fonterra to proceed with sale process for Consumer businesses
1 day ago · Fonterra Co-operative Group Ltd has today provided an update on its work to explore potential divestment options for its global Consumer business, as well as integrated businesses Fonterra Oceania and Fonterra Sri Lanka. CEO Miles Hurrell says, following a detailed scoping phase, the Co-op has decided to proceed with a sale process for these businesses....
Towards a Corruption-Free Sri Lanka to Save Billions
6 days ago · How an Effective Procurement Policy Overhaul Could Rewrite the Nation’s Future and Transform the Nation’s Public and Private Sectors By Jithendra Antonio In a country where corruption has long infiltrated both public and private sectors, Sri Lanka approaches a critical juncture, where decisions today will echo for generations. Embedding a robust procurement system is more...
Salesforce To Drive AI Led Digital Transformation in Sri Lanka
Nov 6, 2024 · Salesforce, the #1 CRM, powered by AI technology and capabilities, reinforced its commitment to digitally transforming businesses in Sri Lanka, aligning with the country’s 2030 vision for a digital Sri Lanka.Leveraging Salesforce’s cutting-edge innovation around Artificial Intelligence (AI) and automation, Salesforce will revolutionise customer experiences for businesses across industries ...
Accelerating Digital Transformation to Drive Economic Growth
Oct 30, 2024 · • New Initiative Launched to Lower Electricity Costs – President Addresses Sri Lanka Chamber of Commerce Representatives • Chamber of Commerce Pledges Pro Bono Support for Economic Development President Anura Kumara Dissanayake announced that the entire country will undergo digital transformation within the next three years under his administration. He highlighted that digitization holds ...
Sri Lanka’s June 2024 Exports Hit $1.03 Billion, Boosted ... - Ada …
Jul 23, 2024 · As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in June 2024 amounted to US$ 1,031.2 million, recorded an increase of 2.58% compared to the month of June 2023. This was mainly due to the increase in earnings from export of Apparel & Textiles, Tea, Rubber based products, Coconut...
Sri Lanka's Economic Turnaround: A Beacon of Resilience and …
Jun 27, 2024 · By Jithendra Antonio In a historic address to the nation on June 26, Sri Lankan President Ranil Wickremesinghe announced the successful signing of bilateral debt restructuring agreements with the Paris Club, India, and China. This milestone marks a significant turning point in Sri Lanka’s recent history, demonstrating the effectiveness of strategic leadership, resilience, and international...
Business Sentiment: Index Climbs to an 11 Month High
May 31, 2024 · Business confidence spikes for a third consecutive month to nearly three digits Sri Lanka’s internal affairs are heating up with critical agreements pending regarding debt restructuring. The government however, is confident that the process will be completed in time for the release of the third IMF tranche in June. President Ranil …