Sri Lanka Launches New Insurance Scheme for Seed Paddy Farmers

Sri Lanka’s Agricultural and Agrarian Insurance Board has introduced a new insurance scheme designed to protect seed paddy producers from major cultivation risks. The initiative was developed in response to repeated requests from farmers seeking greater security against climate- and wildlife-related threats. Under the scheme, farmers can insure their seed paddy production for a premium…

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Sri Lanka Approves Nationwide Development of Multi-Modal Transport Hubs to Modernize Public Transit

The Cabinet of Ministers of Sri Lanka has given in-principle approval to a comprehensive proposal to develop multi-modal transport hubs across the country, aiming to modernize and better integrate the nation’s public transport system. The initiative seeks to connect buses, trains, and taxi services through strategically located hubs that will improve efficiency and convenience for…

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Sri Lanka and Saudi Arabia Launch First-Ever Joint Business Council to Boost Trade and Investment

Sri Lanka and Saudi Arabia have officially established the Sri Lanka–Saudi Arabia Joint Business Council, marking a major step toward deepening bilateral economic cooperation. Minister of Foreign Affairs, Foreign Employment, and Tourism Vijitha Herath announced the launch, describing it as a “historic milestone” in strengthening economic ties between the two nations. The Council was formed…

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Sri Lanka Explores Healthcare Investment Opportunities with Leading Middle Eastern Medical Group

Sri Lanka’s Minister of Foreign Affairs, Foreign Employment, and Tourism, Vijitha Herath, met with senior executives of Dr. Sulaiman Al Habib Medical Group, a major healthcare provider in the Middle East. In a statement shared on X (formerly Twitter), the Minister noted that he toured one of the group’s advanced medical facilities, which integrates cutting-edge…

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Sri Lanka Launches Nationwide Program to Distribute 500,000 Coconut Plants for Home Cultivation

Sri Lanka is launching a national initiative today (November 9) to distribute 500,000 coconut plants to households across the country, aiming to strengthen rural livelihoods and promote home-based coconut cultivation. The official ceremony will take place in Uhana, Ampara, under the patronage of Minister of Plantations and Community Infrastructure Samantha Vidyaratne, alongside Deputy Minister of…

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Sri Lanka Central Bank Tightens Loan Limits on Vehicle Purchases

The Central Bank of Sri Lanka (CBSL), acting in its role as the country’s macroprudential authority, has announced new limits on loan-to-value (LTV) ratios for vehicle financing. The revised regulations apply to licensed commercial banks, licensed specialized banks, licensed finance companies (LFCs), and registered finance leasing establishments (RFLEs). Effective from November 8, credit facilities granted…

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