United States Tops Bitcoin Investment Gains in 2020.

The US traders have benefited the most in Bitcoin Investment Gain in 2020, with a profit of $4.1 billion, according to the latest report by Chainalysis, a blockchain analysis company based in Manhattan, New York. Chinese traders stood second, with a profit of $1.1 billion a…

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EU parliament adopts resolution on Sri Lanka, propose GSP withdrawal.

The European parliament adopted a resolution June 10 calling for the repeal of Sri Lanka’s Prevention of Terrorism Act (PTA) and inviting the European Union (EU) Commission to consider temporarily withdrawing Sri Lanka’s access to the Generalised Scheme of Preferences Plus …

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Courtyard by Marriott to debut in Sri Lanka.

Marriott International is set to introduce the Courtyard by Marriott brand to Sri Lanka, this year. The hospitality giant has signed an agreement with Colombo City Centre Partners (Private) Limited, part of the Abans Group, for this 164-key hotel, expected to open in late 2…

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Keystone XL pipeline project officially terminated by Canadian energy company.

Energy infrastructure company TC Energy said on Wednesday 09 June 2021 it had terminated the $9 billion Keystone XL pipeline project, months after U.S. President Joe Biden revoked a key permit in a blow to Canada’s oil sector. Keystone XL, which would have been under constru…

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1st edition of 2-day Arab-India Energy Forum concludes.

The first edition of the two day Arab-India Energy Forum which was held in a virtual format concluded on 09 June 2021. The Forum was held under the co-chairship of India and Morocco.  The event was in implementation of the Executive Programme of the Arab-India Cooperation Fo…

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Sri Lanka Investment Forum concludes with over 4500 Participants.

The 2021 Invest Sri Lanka Forum, organized by the Board of Investment, The Ceylon Chamber of Commerce and the Colombo Stock Exchange, which commenced on Monday, 7th June concluded successfully on Wednesday, 9th June. Asia’s first ever virtual investment forum was held with f…

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El Salvador plans to make cryptocurrency legal tender.

El Salvador's president says he will make the Bitcoin cryptocurrency legal tender in the country. If his plan is backed by congress, the Central American country would be first in the world to formally adopt the digital currency. It would be used alongside the US dollar, …

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Much Awaited Sri Lanka Investment Forum Commenced on June 07.

Forum to bring together over 3500 participants, exhibit 70+ Investment Opportunities and Present 60+ Agenda Sessions His Excellency Gotabaya Rajapaksa, President of Sri Lanka will inaugurate the much-anticipated Sri Lanka Investment Forum 2021 on Monday 7th June 2021 at 08.3…

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Biden expands US investment ban on Chinese firms.

US President Joe Biden is set to ban Americans from investing in dozens of Chinese tech and defence firms with alleged military ties. The new executive order will come into effect on 2 August, hitting 59 firms including communications giant Huawei. The list of firms will be …

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G7 nations agree on global minimum tax of at least 15%.

Finance ministers from the Group of Seven (G7) rich nations reached a landmark accord on Saturday backing the creation of a global minimum corporate tax rate of at least 15 percent in an effort to close cross-border tax loopholes used by some corporations. The Group of Seven…

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United Airlines Plans to Buy 15 Supersonic Jets.

United Airlines announced a deal to buy 15 supersonic jets, planning to carry passengers on the ultra-fast planes by 2029. If the airline can follow through with its plan, these would be the first commercial supersonic flights since the grounding of the Concorde jet in 2003.…

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Crude oil price hits nearly 3-month high above $70.

Oil prices rose on Tuesday 01 June 2021, with Brent topping $70 and trading at its highest since March, as optimism grew over the fuel demand outlook during the summer driving season of the United States, the world's top oil consumer. Prices were also boosted after data …

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S&P affirms CCC-plus/C on Sri Lanka ratings with stable outlook.

S&P Global Ratings on Monday affirmed its long-term foreign and local currency sovereign credit ratings on Sri Lanka at CCC-plus. It also affirmed short-term foreign and local currency credit ratings at C. The transfer and convertibility assessment is CCC-plus. The outlo…

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Stock Market Buoyant in 2021.

The Colombo Stock Exchange (CSE) has recorded 9.3% growth in Year-to-Date (YTD) All Share Price Index (ASPI) within the first 05 months of 2021. The S & P SL 20 Index fared even better with YTD growth of 13% The market also saw record breaking YTD Market Turnover volume…

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CCPI based Inflation increased to 4.5 per cent in May 2021.

Headline inflation, as measured by the year-on- year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1, increased to 4.5 per cent in May 2021 from 3.9 per cent in April 2021. This was driven by monthly increases of prices of items in both Food and Non-foo…

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EDB Supports Farmers and Processors to obtain Sri Lanka Organic Certification.

The Sri Lanka Export Development Board (EDB) is implementing an assistance scheme to enable farmers and processors in Sri Lanka to obtain organic certification as per the Sri Lanka Organic Standard – SLS 1324:2018. The certificates will be issued by the certification instit…

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World Bank and European Union Support Sri Lanka’s Agriculture Modernization and Job Creation.

The Ministry of Finance and the World Bank recently signed a new grant from the European Union to support the Agriculture Sector Modernization Project (ASMP). This grant is part of the EU’s EUR 25 million support to the US$ 125 million project and will be administered by th…

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The French to Explore Sri Lankan Markets in Maritime Economy, Renewable Energies and Mineral Resources.

Following the high-level webinar on Maritime Economy organised by the Mouvement Des Entreprises de France (MEDEF), and the International Maritime Task Force together with Sri Lanka Embassy in France in March 2021, a virtual meeting was organized on 21 May 2021 to consider t…

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“Ceylon Cinnamon Tea” launched in Oman coinciding with International Tea Day.

Ambassador of Sri Lanka to the Sultanate of Oman Ameer Ajwad launched a new brand “Ceylon Cinnamon Tea” at AI Meera Hypermarket in Muscat, Oman on 21 May 2021 coinciding with the International Tea Day. He also distributed “Ceylon Tea” dyed Face Masks which were recently deb…

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Members appointed to Port City Economic Commission.

President Gotabaya Rajapaksa today (May 31) appointed members to the Colombo Port City Economic Commission. President’s Counsel Gamini Marapana has been appointed as the Chairman of the Commission. Remaining members of the Commission are: S. R. Attygalle - Secretary to the Tre…

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