This agreement will be subject to completion of prior actions and approval by the IMF's Executive Board, which is expected to consider Sri Lanka's request in early June.
"The mission made significant progress toward a staff level agreement with the government on an economic programme that could be supported by a 36-month Extended Fund Facility (EFF)" an IMF release said.
Social venture capital firm Aavishkaar has forayed into Sri Lanka with an investment of 300 million Sri Lankan Rupee (LKR) in MA's Foods.
Under the arrangement, the Central Bank of Sri Lanka can draw up to USD 700 million for a maximum period of three months.
The beleaguered national carrier has drawn controversy in recent years after an independent investigator last year found evidence of serious corruption in a USD 2.3 billion deal to buy Airbus aircraft.
Some of the major awards the company secured include the EXIM Bank funded Polgahawela Water Treatment plant order valued at USD 108 million with Water Board of Sri Lanka.
Gamesa has won the solar energy order from LAUGFS Power Ltd in Sri Lanka to provide solar power in Baruthankanda village of Hambantota province in Sri Lanka, the Spain-headquartered company said in a statement.
Launching the National Framework for Malaria Elimination (2016-2030) here, the minister said 70 percent of malaria cases and 69 percent of malaria deaths among South East Asian Region countries, occur in India.
"The unrest leading to blockade of certain border crossings between India and Nepal by Madeshi's has come to an end, and with this, the blocked border crossings has opened and the good movement across border has started," Dabur India said in a BSE filing.
"While Sri Lanka's public debt has risen to over 74 percent of GDP by 2015-end; capital outflows have intensified and the overall balance of payments has deteriorated," the IMF said at the conclusion of its annual review for which a team of its officials visited the country from February 1 to 5.
George Alexander Muthoot, MD of Muthoot Finance says reduction in operating expenses and better interest collection aided growth in Q3.
The crew, which included foreign nationals from Ukraine, Estonia and six British former soldiers, was arrested from the 'Seaman Guard Ohio' in 2013 after they failed to produce papers authorising them to carry weapons in India's territorial waters.
Billionaire financier, George Soros, is warning of an impending financial markets crisis as investors around the world were roiled by turmoil in China trade for the second time this week.
Kiren Rijiju said as per the information received from the state governments of Tamil Nadu and Odisha, a total of 1,01,368 Sri Lankan Tamil refugees are presently staying in the country.
Pidilite Lanka Private Limited (PLPL), a step down subsidiary of the company incorporated in Sri Lanka, has acquired from CIC Holdings PLC and the Chemifix trade mark, the company says in its filing to the exchange.
At the G20 nations' Australia summit last November, leaders endorsed a new global transparency standard by which more than 90 jurisdictions will begin automatic exchange of tax information, using a common reporting standard by 2017-18.
"The world is increasingly focused on the Indian Ocean region. This vast maritime area has become an undeniable pivot-point for the world economy and is poised to remain at the heart of global affairs for this century and beyond," US Ambassador to Sri Lanka and Maldives, Atul Keshap said.
India had exported 2,68,863 units in the same period of last fiscal, 2014-15. According to Society of Indian Automobile Manufactures (SIAM), during April-September, 2015-16, the largest car exporter from the country Hyundai Motor India saw 13.91 percent drop in car exports to 83,522 units from 97,021 units in April-September period of 2014-15.
Finance Minister Arun Jaitley speaking in the Plenary Meeting of the Development Committee here emphasised the need for bigger financing and implementation plans by the World Bank Group to achieve the Sustainable Development Goals (SDGs).
Dr Rajan also pitched for free trade, open markets and well-capitalised multilateral institutions to overcome the global economic slowdown which could lead to high political tension.
According to The Global Competitiveness Report 2015-2016, the failure, particularly by emerging markets, to improve competitiveness since the recession suggests future shocks to global economy could have deep and protracted consequences.
The jump in India's position underlines the country's recent economic recovery, improvement in the competitiveness of the country's institutions and its macroeconomic environment and a "slight improvement" in infrastructure, the World Economic Forum (WEF) said in its latest Global Competitiveness Report.
Dalmiya, who held a variety of BCCI posts, first came to prominence by bringing the 1987 and 1996 World Cups to the sub-continent.
Prime Minister Ranil Wickremesinghe, visiting New Delhi on his first visit abroad since winning a general election last month, said voters had given his government of national unity a mandate for trade and investment with India.
Hero MotoCorp's first global manufacturing facility at Villa Rica in Colombia, entailing a project investment of USD 70 million, became operational this week.