Sri Lanka News
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AFGHANISTAN, 2017/09/09
Destinations worldwide welcomed 598 million international tourists in the initial six months of 2017, some 36 million additional than in the same period of 2016. At 6%, increase was well above the trend of recent years, making the current January-June period the strongest half-year since 2010.
Visitor numbers reported by destinations around the world reflect strong request for international travel in the initial half of 2017, according to the new UNWTO World Tourism Barometer. Worldwide, international tourist arrivals (overnight visitors) increased by 6% compared to the same six-month period last year, well above the sustained and consistent trend of 4% or higher increase since 2010. This represents the strongest half-year in seven years.
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SRI LANKA, 2017/07/01
The recent decision by the EU to reinstate Sri Lanka to its tariff exemption scheme, designed to assist developing nations in achieving upper-middle-gain status, should serve to boost exports and generate renewed private sector investment .
On May 19 the EU formally restored Sri Lanka to the ranks of nations that benefit from the enhanced Generalised System of Preferences Plus (GSP+), which provides additional tariff preferences.
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SRI LANKA, 2017/05/29
Death toll from recent landslides and floods, triggered by monsoon, in Sri Lanka has reached 113, as the island country has sought international assistance.
The national-run disaster management center, while updating the death toll from an before figure of 91, said on Saturday that nearly 100 people were still missing next the worst torrential downpours since 2003 drenched the tropical Indian Ocean island country.
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SRI LANKA, 2017/05/07
Sri Lanka will only lease out oil tanks to India under the proposed transaction to jointly operate a strategic oil facility in the eastern port district of Trincomalee, Prime Minister Ranil Wickremesinghe has said.
Addressing a gathering in the central town of Welimada yesterday, the Prime Minister said the joint working group of the two nations will formulate investment plans for the integrated development of Trincomalee.
"Japan may as well join in Trincomalee development," Wickremesinghe said.
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AFGHANISTAN, 2016/12/11
A university education may expand your mind. It will as well fatten your wallet. Data from the OECD, a club of rich nations, show that graduates can expect far better lifetime earnings than those without a degree.
The size of this premium varies. It is greatest in Ireland, which has a high GDP per chief and rising inequality. Since 2000 the unemployment rate for under-35s has swelled to 8% for those with degrees – but to additional than 20% for those without, and nearly 40% for secondary school drop-outs. The country’s wealth presently goes disproportionately to workers with letters next their names.
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SRI LANKA, 2016/11/11
As is customary with all inaugural flights landing at the Seychelles International Airport, the Sri Lanka Airlines airbus arriving at Seychelles for the initial time, received a water cannon salute upon arrival.
Seychelles welcomed this new airline this week, only two days next Turkish Airlines landed at its international airport for the initial time. This morning marked Sri Lankan Airlines’ maiden flight to the Seychelles.
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SRI LANKA, 2016/07/18
Buoyed by a phased $1.5bn funding pledge from the IMF, Sri Lanka has its sights set on building economic momentum and improving investor sentiment in the coming months.
Sri Lanka’s economy is expected to expand by 5% in 2016, the IMF said in a statement issued in June, outstripping increase levels recorded for the previous two years. However, the country is under pressure to keep its programme of fiscal reforms on track.
“Sri Lanka’s medium-term increase prospects are generally favourable, given its strong base of human and physical capital and strategic position in a fast growing and dynamic region,” the IMF said.
The IMF said increase would be underpinned by heightened construction activity and the continued expansion of the services industry, led by the tourism, transport and ICT sectors.
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SRI LANKA, 2016/07/08
Sri Lanka is looking to boost its public transport infrastructure, particularly in Colombo, amid rising passenger numbers and increased road congestion.
While several proposals in recent years have offered different strategies to improve the public transport system from a cost-effective perspective, the issue is becoming additional pressing, as record vehicle imports in 2015 contributed to major increases in traffic.
Public transport’s share of journeys in the capital is as well expected to rise on the back of people increase, with estimates forecasting that 60% – additional than 10m – of daily motorised trips in the capital will be made via public transport in 2030. In 2013 that number stood at 4m, or 52% of the daily share.
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AFGHANISTAN, 2016/01/02
World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday.
IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide.
Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.
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SRI LANKA, 2015/12/28
A $1bn revenue target is spearheading Sri Lanka’s efforts to solidify its place as a key source market for gemstones and jewellery, although flat world sales of luxury goods, coupled with labour shortages, risk hindering the country’s efforts.
Sri Lanka is home to 70 of the world’s 200 varieties of coloured stones, inclunding its best-known export, the Ceylon sapphire. Estimates suggest that 80-90% of the country’s rock formations could hold gem deposits.
However, with growing regional competition in gem and jewellery trading, Sri Lanka will have to dig deep to win back its status as an industry hub.
