Sri Lanka’s entrepreneurship rate stands at just 3% of the working population, significantly trailing regional counterparts, according to Dhanuka Liyanagamage, Director of the National Enterprise Development Authority (NEDA). He addressed the issue at the Global Entrepreneurship Week (GEW) 2024 launch event held at the Ceylon Chamber of Commerce. “Only about 3% of the working population…
Mastercard Country Manager for Sri Lanka and Maldives, Sandun Hapugoda, emphasized the critical role of digital transformation for micro, small, and medium-scale enterprises (MSMEs) in Sri Lanka, which make up 19% of the country’s establishments. Speaking at the launch event of Global Entrepreneurship Week (GEW) 2024, organized by the Ceylon Chamber of Commerce, Hapugoda underlined…
The National Enterprise Development Authority (NEDA) has announced plans to consolidate over 50 ICT-related government institutions under a single umbrella to enhance efficiency and eliminate redundancy. Speaking at the launch event of Global Entrepreneurship Week (GEW) 2024 at the Ceylon Chamber of Commerce yesterday, NEDA Director Dhanuka Liyanagamage highlighted the challenges within the sector. “In…
The government has launched an inquiry into complaints from Samurdhi beneficiaries who report being unjustly excluded from the Aswesuma welfare benefits program, despite meeting the eligibility requirements. The Ministry of Buddha Sasana, Religious and Cultural Affairs, National Integration, Social Security, and Media confirmed that a significant number of previously eligible Samurdhi recipients have reportedly been…
The new Sri Lankan government has reaffirmed its commitment to the International Monetary Fund (IMF)-supported program, in-terms of achieving fiscal and debt targets, said Krishna Srinivasan, the IMF Director for the Asia Pacific Department. Srinivasan noted that following the new government’s inauguration, an IMF mission visited Sri Lanka and held productive discussions with the president…
The Chinese government has decided to further provide a batch of Emergency Humanitarian materials to Sri Lanka, worth RMB 10 million (approximately LKR 400 million). The donation comes in addition to a recent Emergency Assistance of USD 100,000 (approximately LKR 30 million) in cash handed over to the President of Sri Lanka – Anura Kumara…
There is a risk of halting the school nutrition program as the government has not made the payments to the suppliers for the free meals provided to the students in the primary classes from grade 1 to grade 5 in schools for almost two months. Principals and suppliers point out that at present such suppliers…
Ajith Perakum Jayasinghe Currency notes issued by the National People’s Power (NPP) government, signed by Central Bank Governor Nandalal Weerasinghe, are not yet in circulation. Then, is it false that the government printed Rs. 100 billion worth of currency? That’s correct; it’s a different process. No notes have actually been printed. Instead, money has been…
A significant 22% of Free Trade Zone workers did not cast their votes in the recent Presidential Election, according to the Free Trade Zone Workers’ Solidarity. This alarming figure has raised concerns that even more workers may abstain from voting in the upcoming Parliamentary Election if current barriers remain unaddressed. Sugath Rajapaksha, the coordinator of…
The overall rate of inflation, as measured by the National Consumer Price Index (NCPI), has decreased to -0.2% in September 2024 from 1.1% in August 2024, according to the latest data released by the Department of Census and Statistics. Meanwhile, food inflation also decreased to 0.5% in September, down from 2.3% in August. The NCPI…
