Sri Lanka’s Debt Restructuring Nears Finish Line: Official Creditors Onboard, Private Talks Advance
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Sri Lanka’s Debt Restructuring Nears Finish Line: Official Creditors Onboard, Private Talks Advance

While hurdles remain, Sri Lanka’s debt restructuring efforts are gaining traction, with official creditors on board and private talks advancing. The next few months will be crucial in determining whether the island nation can finally reach a comprehensive agreement and pave the way for economic stability and growth. Sri Lanka’s debt restructuring efforts are gathering…

India and Sri Lanka: ETCA Paves Way for Deeper Economic Ties and Island Export Boom
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India and Sri Lanka: ETCA Paves Way for Deeper Economic Ties and Island Export Boom

Celebrating India’s 75th Republic Day, Indian High Commissioner Santosh Jha unveiled exciting news for Sri Lanka – the imminent finalization of the Economic and Technology Cooperation Agreement (ETCA). This agreement, he declared, “promises to be a game-changer,” paving the way for a significant boost to the island nation’s export potential. Mr. Jha’s optimism echoes past…

Elections cast a shadow of uncertainty over Sri Lanka’s economic recovery
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Elections cast a shadow of uncertainty over Sri Lanka’s economic recovery

By Dushni Weerakoon (East Asia Forum) Nearly two years after announcing a debt default in the middle of a severe social and political crisis, the Sri Lankan economy is showing the first signs of recovery. Year-on-year inflation dropped sharply to a low of 1.5 per cent in October 2023 from its peak of 70 per…

Sri Lanka Implements Comprehensive Anti-Corruption Act No. 9 of 2023 to Combat Bribery and Corruption
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Sri Lanka Implements Comprehensive Anti-Corruption Act No. 9 of 2023 to Combat Bribery and Corruption

In a recent educational workshop organized by the We Have a Dream Collective on January 19, 2024, Mr. Sarath Jayamanne, President’s Counsel and former Director General of the Bribery Commission, shed light on the main features of the groundbreaking Anti-Corruption Act No. 9 of 2023. The Act, designed to combat bribery and corruption, introduces several…

Siyambalapitiya outlines fiscal plan for public sector workers’ salary hike
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Siyambalapitiya outlines fiscal plan for public sector workers’ salary hike

State Minister Ranjith Siyambalapitiya provided insights into the Government’s fiscal strategy regarding the proposed Rs. 10,000 salary increase outlined in the 2024 Budget. The overall expenditure on Government employee salaries is expected to rise to around Rs. 14 billion following the proposed Rs. 10,000 salary hike which was originally slated for April. “At present, around…

Sri Lanka Benefits from Red Sea Tensions Despite Risks in Joining US Operations
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Sri Lanka Benefits from Red Sea Tensions Despite Risks in Joining US Operations

Colombo Port Experiences Surge in Traffic Amid Red Sea Crisis Sri Lanka’s Colombo port has witnessed a significant increase in container volumes in recent weeks as vessels seek alternative routes to avoid the tensions in the southern Red Sea. Yemen’s Iran-backed Houthi rebels’ attacks on ships in this vital shipping route prompted some shipping companies…

Google, Yahoo, Amazon, X raises red flag on Sri Lanka’s Online Safety Bill
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Google, Yahoo, Amazon, X raises red flag on Sri Lanka’s Online Safety Bill

Asia Internet Coalition (“AIC”), a body comprising internet and technology companies in the world, and its members, expressed concern about the Online Safety Bill and called for extensive revisions and overhaul of it. Managing Director AIC Jeff Paine said in writing to Public Security Minister Tiran Alles that while his office appreciates the efforts made…

Telecom Giants Reliance and Lycamobile Eye Bidding War for Sri Lanka’s SLT
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Telecom Giants Reliance and Lycamobile Eye Bidding War for Sri Lanka’s SLT

Telecom giants Reliance Industries and Lycamobile are among three potential buyers vying for a stake in Sri Lanka’s state-owned Sri Lanka Telecom (SLT), setting the stage for a high-stakes bidding war. The island nation’s State-Owned Enterprises Restructuring Unit confirmed initial interest from Jio Platforms, a subsidiary of Reliance, and Pettigo Comercio International, linked to the…

Sri Lanka’s Anti-Corruption Commission Must Go After Big Fish, Watchdog Says
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Sri Lanka’s Anti-Corruption Commission Must Go After Big Fish, Watchdog Says

Sri Lanka’s anti-corruption commission must prioritize high-profile cases and move beyond petty infractions to regain public trust, Transparency International Sri Lanka (TISL) said. The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) now has broader powers under the Anti-Corruption Act, but faces mounting pressure to deliver results. The public frustration stems from the deep-rooted…

Sri Lanka Shines as a Budget-Friendly Paradise: Top 13 Global Destinations for Affordable Adventures
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Sri Lanka Shines as a Budget-Friendly Paradise: Top 13 Global Destinations for Affordable Adventures

Get ready for breathtaking hikes, pristine beaches, and elephant encounters – all at a fraction of the price! Sri Lanka has grabbed the spotlight, landing a coveted spot among the top 13 most affordable vacation destinations globally, as recognized by Fox News. This prestigious recognition isn’t just a feather in Sri Lanka’s cap; it’s a…