President Maithripala Sirisena says he will dedicate himself to deliver the values of the Theravada Buddhism to the world while protecting this noble philosophy,joining hands with all the countries in the region.
The Department of Commerce of Sri Lanka Friday announced that the second session of Kuwait-Sri Lanka Joint Ministerial Committee (JMC) held in Kuwait recently concluded on a highly positive note and a bigger role for private sectors of both sides-with a pioneering Chamber-to-Chamber Memorandum of Understanding (MoU) is now envisioned.
The government yesterday presented the Chemical Weapons Convention Amendment Bill in Parliament. The Ministry of Defence which is under the purview of President Maithripala Sirisena shall be in charge of implementing the said legislation.
Russia, which maintains traditionally friendly relations with Sri Lanka, is interested in closer trade and economic cooperation, including in fishery, agriculture and tourism, President Vladimir Putin has said on Thursday.
Sri Lanka with its strategic location has the ability of developing into a regional trading and logistics hub to complement Dubai and Singapore, a study on the Indian Ocean Economy done by Lakshman Kadirgamar Institute (LKI) revealed.
Concern over rising risks to emerging market economies were centre stage this week as global Finance Ministers and Central Bank Governors gathered in Bali, Indonesia yesterday.Bali hosted both the biannual Ministerial Meeting of the Group of Twenty-Four (G-24) developing countries and the annual meetings of the International Monetary Fund and World Bank Group officials. “Global growth continues broadly but risks are rising for developing economies with higher oil prices, rising interest rates, high debt levels and the threat of trade war as top concerns,” said Mangala Samaraweera, Minister of Finance and Media for Sri Lanka and Chairman of the G-24. “We urge major powers to reform and reinforce rather than discard the rules-based global trading system,” Samaraweera said.
Sri Lanka has called for the establishment of a rule based maritime order in the Indian Ocean before ‘geopolitical power interplays in the region to convert the Indian Ocean into a centre of tension’.Prime Minister Ranil Wickremesinghe delivering the keynote address at the ‘Indian Ocean: Defining Our Future’ Conference held at Temple Trees yesterday said the security and stability of the Indian Ocean could not be left to chance and that states needed to take advantage of the “benign strategic atmosphere that exists to create a maritime order in the Indian Ocean that can withstand the challenges that may emerge in the future”. This could create a more ‘manageable future’, he added.
The region which has the involvement of regional powers, littoral states, major maritime users of the Indian Ocean and non-state actors thus provide a hotbed for conflicts which could also extend to the sub-surface waters and the air space.
Sri Lanka has set out a series of plans to increase South Asian regional trade over the next few years. Among the main initiatives are to find new ways to break into the Indian market and to sign a Coastal Shipping Agreement with Bangladesh.
People’s Bank has stepped forward as a Gold Sponsor for Sri Lanka’s flagship ICT Expo, INFOTEL-2018, being held from November 2 to 4, 2018 at the BMICH, under the theme - ’Towards a Digital Economy’.The Bank’s partnership with Infotel 2018 is aligned to its own ambitious digitalization journey towards becoming Sri Lanka’s Most Digitalized Bank by 2020. In 2015, People’s Bank took a strategic decision to embark on a historic digitalization drive to become the most digitalized bank in Sri Lanka in order to continue offering greater competitiveness to customers, many of whom are aspiring entrepreneurs and SMEs.
Earnings from merchandise exports surpassed US dollars 1 billion for the second consecutive month in July 2018.Accordingly, earnings from exports increased by 5.7 per cent (year-on-year) to US$ 1,073 million. Earnings from industrial exports contributed to increased export earnings while agricultural and mineral exports recorded poor performance during the month. Under industrial exports, earnings from export of petroleum products increased significantly due to higher export prices of bunker and aviation fuel despite reduction in volumes. Export earnings from transport equipment increased considerably during the month owing to the export of a cruise ship to Singapore.