To give unusually high profits to maize farmers and maize collectors, generally called the ‘maize mafia’, Sri Lanka has not only imposed 25 rupees a kilo import taxes (about 86 dollars a tonne), but also imposes quantity restrictions through a license raj. As a result, license holders can...
Sri Lanka, which is in the mid of a foreign exchange crisis, is attempting to attract foreign direct investments to overcome the crisis. Central Bank Governor Nandalal Weerasinghe said last month that Sri Lanka needs to attract at least 2 billion U.S. dollars as foreign direct investments in ...
COLOMBO, Dec. 14 (Xinhua) -- Sri Lanka will aim to scale up its Information Communication Technology (ICT) and Business Process Management (BPM) export industry to 3 billion U.S. dollars, state media quoting a government minister reported here Tuesday. Minister of Youth and Sports and State ...
ECONOMYNEXT – Sri Lanka’s services exports are estimated to have grown 6.49 percent to 318.77 million US dollars in August from a year ago, the island’s Export Development Board said. The estimated value of ICT exports is expected to increase by 35.76 percent to 146.26 million dollars in ...
Sri Lanka is encouraging inward investments to fast track its economy. In 2021, China’s global FDI outflow exceeded USD 145 billion. China has invested over 145 billion dollars in the United States over the years. It has also invested almost Euro 120 billion over the last 20 years in the...
You may also come across establishments that display their prices in US Dollars, especially in more touristy areas. While this is convenient, you should always make sure the transaction is performed in the local currency. In Sri Lanka, it’s illegal to perform a card transaction in a foreign...
Lanka was not being able to develop after independence like Singapore, Malaysia, South Korea etc. India also has come to the forefront of development today. Sri Lanka became caught up in a vicious cycle where political culture prevented development, while underdevelopment influenced the political ...
The price of gold in Sri Lanka is influenced by a variety of factors that reflect both local and global market dynamics. Primarily, the international market price of gold, which is quoted in US dollars per ounce, plays a significant role. As global demand fluctuates due to economic conditions...
I've had beer and such great relaxation for awhile now but due to Lanka Safe Tour I had a great experience. I had a nice dinner in a nice serene environment with beautiful people as well courtesy of my tour guide Lankshan - Lanka Safe Tour....
Sri Lanka is an island nation located in the Indian Ocean to the south of India. What Was Sri Lanka Called in the Past? The nation of Sri Lanka was previously known as Ceylon. In 1972, Ceylon was renamed Sri Lanka. Does Sri Lanka Have High Inflation?