The Gross Domestic Product (GDP) of the country has shown a positive growth of 5.5% in the third quarter of 2024, according to the Department of Census and Statistics. The GDP, which stood at Rs. 2,987,544 million at constant prices (2015) in the third quarter of 2023, increased to Rs. 3,151,941 million in the corresponding…
The present Government will not implement the Galle Harbour Port City project which had been planned and proposed to be implemented by the previous Government, Deputy Minister of Fisheries, Aquatic and Ocean Resources Rathna Gamage said. The Deputy Minister disclosed the Government’s stand on the project when responding to the media, during his inspection tour…
In recent years, South Asia has experienced notable shifts in female labour force participation (FLFP), with significant variations across countries. India, for instance, has seen a remarkable increase in women’s workforce participation, rising from 22% to 40.3% over six years. This growth has been driven by policies promoting diversity and inclusion, alongside economic developments that…
Sri Lanka is advancing its debt restructuring process by issuing new bonds to replace $12.55 billion of defaulted sovereign bonds. This marks a critical step in addressing its $43 billion foreign debt crisis. As announced by the Ministry of Finance, bondholders can swap their holdings for new securities until December 12, 2024. President Anura Kumara…
The Cabinet of Ministers has approved the proposal for the restructuring of international sovereign bonds by way of swapping existing bonds for new bonds in accordance with the parameters indicated in the debt sustainability analysis conducted by the International Monetary Fund (IMF). In June 2024, the Government of Sri Lanka reached a final agreement on…
Ajith Perakum Jayasinghe The Sri Lanka Bureau of Foreign Employment (SLFEB) has raised strong objections to the E-8 visa system, introduced for seasonal employment in South Korea, alleging irregularities and significant risks to Sri Lankan workers. SLFEB Chairman Kosala Wickramasinghe disclosed that the E-8 visa agreement was unlawfully signed by a former minister without Cabinet…
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…
