Star Garments, a subsidiary of Charles Komar & Sons, has secured a $15 million loan from the International Finance Corporation (IFC) to establish a new garment factory in Togo, marking their first venture into Africa. This factory, to be built in the Plateforme Industrielle d’Adétikopé near Lomé, will adhere to Leadership in Energy and Environmental…
Sri Lanka is embarking on a strategic initiative to map all its tree species as a precursor to joining global carbon credit markets. This comprehensive project, announced by Senior Presidential Advisor on Climate Change Ruwan Wijewardene, aims to quantify the island’s carbon sequestration capacity, with a focus on both forested areas and mangrove ecosystems. The…
Amaranath Thennakoon, Director of the Center for Drug and Alcohol Information, stated that people in Sri Lanka spend around 6 billion rupees daily on arrack and beer. He shared this information during a recent discussion with journalists at the Sarvodaya Institute in Kegalle. Dayarathna Bandara, reported this to Dinamina newspaper, highlighting the significant financial burden…
Chethana Gomis Pakistan has narrowly averted a severe economic crisis by heeding lessons from Sri Lanka’s financial collapse and engaging the International Monetary Fund (IMF) in a timely manner. While Sri Lanka faced controversy and criticism for its early declaration of bankruptcy, Pakistan proactively sought IMF support, securing a staff-level agreement on a 37-month Extended…
Ajith Parakum Sri Lanka faces significant challenges in bringing escaped criminals back to the island to face justice. As many as 45 Sri Lankan criminals, red-noticed by Interpol, are currently stationed overseas, mostly in the United Arab Emirates (UAE), where they continue to orchestrate organized criminal activities back home. The complexities of this issue lie…
A fundamental rights petition has been filed in the Supreme Court, asserting that holding a presidential election without the proper enactment of the 19th Constitutional Amendment into law violates the fundamental rights of the people of Sri Lanka. Attorney-at-Law Aruna Laksiri Unawatuna clarified the legal arguments underpinning the petition. The petition, filed by Unawatuna, requests…
In a significant boost reflecting the international confidence in Sri Lanka’s economic reforms, the OPEC Fund has agreed to provide financial assistance of LKR 30 billion (USD 100 million) for the Mahaweli Water Security Investment Project. This support highlights the benefits of Sri Lanka’s successful debt restructuring efforts. State Minister of Finance Shehan Semasinghe announced…
Multi-Sectoral National Action Plan to address Sexual and Gender-Based Violence 2024-2028 was approved by the cabinet of Sri Lanka. The National Action Plan ( NAP) consists of 13 main sectors with 5 sub sectors, namely Gender Empowerment, Child Affairs, Social Protection & Welfare, Education (General Education, Higher Education, Vocational and Technical Education & Training), Health…
Despite accusations from social media and opposition parties alleging government inaction against former State Minister Diana Gamage, prosecutors have sought the Attorney General’s instructions to frame charges. The Colombo Chief Magistrate’s Court heard six cases against Gamage yesterday (11th) for violating immigration laws. The cases, filed by the Criminal Investigation Department (CID), highlight the complexity…
Chethana Gomis Sri Lanka has objected to India’s proposal to explore cobalt deposits in the Indian Ocean. Thus, our country had objected to India’s recent proposal to obtain the necessary right to explore a cobalt deposit that may belong to the jurisdiction of Sri Lanka. Colombo argues that the area India wants to explore for…
