The Chinese government has removed the long-standing barriers to the export of chicken and eggs produced in this country as well as pineapples to China.
Minister of Agriculture and Plantation Industries Mr. Mahinda Amaraweera said that this agreement was expressed during the discussion with the delegation including Mr. Wang Lingjung, Deputy Minister of General Administration of Customs of the People’s Republic of China who recently visited Sri Lanka.
Accordingly, Sri Lankan pineapple cultivators and exporters as well as poultry product manufacturers have been allowed to export as much poultry meat and eggs as well as pineapples to the Chinese market.
The Ministry of Agriculture and Plantation Industries had to do a lot of work to remove the obstacles that existed in our country to export these agricultural products to the Chinese market. A number of methods had to be completed in order to confirm the quality of poultry products in the country’s market, especially the way pineapple is grown in our country.
The Minister also said that due to the commitment made by the officials of the Ministry of Agriculture and Plantation Industries, the effort to get market opportunities from China has been successful for our country.
Meanwhile, the Minister of Agriculture and Plantation Industry Mr. Mahinda Amaraweera said that the Chinese Deputy Minister assured that the Chinese government will work to expand China’s market opportunities to Sri Lanka in order to export whatever high quality agricultural products are in Sri Lanka.
(dailynews.lk)
(Except for the headline, this story, originally published by dailynews.lk has not been edited by SLM staff)
The Sri Lanka Tourism Development Authority (SLTDA) has stated that the number of foreign nationals who visited the country in the first 05 months of 2025 has exceeded 01 million.
As of 25 May 2025, a total of 1,006,097 foreign nationals have arrived in the country while a total of 109,213 tourists have arrived in the country in the first 25 days of May, according to the Authority.
In a milestone moment for Sri Lanka’s financial sector, the Bank of Ceylon (BOC) and the National Savings Bank (NSB) reported record-breaking profits for the year 2024, officially presenting their annual reports to President Anura Kumara Disanayake at the Presidential Secretariat today (22).
The achievements, marked by robust fiscal discipline, strategic vision and public accountability, signal a renewed trajectory of confidence in state-owned banking institutions.
The BOC announced a staggering pre-tax profit of Rs. 106 billion, the highest ever recorded not only by a bank but by any institution, public or private, in Sri Lanka’s history. BOC Chairman Kavinda de Zoysa emphasized the significance of this financial milestone, stating, “This is a historic record as the BOC recorded the highest profit before tax of Rs. 106 billion, the highest profit achieved by any institution, bank or company in Sri Lanka in its entire history.”
He credited the bank’s strategic focus on national development and SME support, adding, “BOC continues as the largest SME and development bank in the country with the best business rehabilitation unit which is futuristic and supports the entire nation.”
Meanwhile, the NSB posted a dramatic turnaround, reporting a pre-tax profit of Rs. 26.4 billion, a remarkable leap from Rs. 4.2 billion in 2023. Chairman Dr. Harsha Cabral attributed this growth to prudent fiscal governance and effective stakeholder collaboration.
“The National Savings Bank recorded the highest ever profit before tax of Rs. 26.4 billion for the year 2024. This is a momentous success and a major increase from the Rs. 4.2 billion in 2023,” he said. “The success of NSB is mainly due to the financial discipline and macroeconomic stability of the country. I dedicate this achievement to the entire NSB family, including our employees, board of directors, senior staff, customers and all stakeholders who support us directly or indirectly.”
Dr. Cabral highlighted that NSB is no longer a burden on the state. “We are a self-sustaining success story and not a burden on the Treasury anymore. With professional management and financial discipline, the NSB has achieved its targets and hopes to exceed them in 2025,” he noted. He also pointed to internal reforms and staff incentives that bolstered morale and productivity. In 2024, NSB’s workforce was streamlined from 4,600 to 4,200 while maintaining a 262-branch network. Employees were rewarded with a five-month bonus, and gold coins were reintroduced for long service recognition after a five-year gap.
Both chairmen underscored a rare but significant aspect of their governance: neither they nor their board members draw a salary for their service. “Our reward is the institution’s success and its contribution to national development,” Cabral remarked, a sentiment echoed by de Zoysa as a model of civic-minded leadership.
President Anura Kumara Disanayake commended the accomplishments of both institutions, stating, “These banks demonstrate how strategic leadership and ethical governance can transform public institutions into pillars of national strength. Their performance is a beacon of what’s possible in Sri Lanka’s economic future.”
With an eye on 2025, BOC is set to expand its digital infrastructure to enhance accessibility and customer service, while NSB plans to refine its operations further, guided by corporate governance best practices. (President’s Media Division)
The Monetary Policy Board of the Central Bank of Sri Lanka has decided to reduce the OPR by 25 bps to 7.75% at its meeting held yesterday (21), thereby easing monetary policy further.
The Board arrived at this decision after carefully considering the developments both domestically and globally. The Board is of the view that this measured easing of monetary policy stance will support steering inflation towards the target of 5%, amidst global uncertainties and current subdued inflationary pressures.