By The Coca-Cola Company, Managing Director – Sri Lanka & the Maldives, Pankaj Sinha Coca-Cola, with its 62-year presence in Sri Lanka, has remained committed to supporting this beautiful country through its challenges. As someone who has made Sri Lanka his home since 2019, and seen the country grapple with natural disasters, acts of terrorism, and…
Business confidence tumbles to below the 100 mark in the face of multiple hurdles News about how the domestic debt optimisation framework (a.k.a. DDO) will unfold, an easing of monetary policy and the downward spiral in inflation have brought some respite to a beleaguered business community in the recent past. But we have yet to…
By Indika De Zoysa As Sri Lanka emerges from years of economic challenges, the vision set forth by the DIGIECON 2030 program recently to drive the nation’s economy towards an inclusive digital landscape is both timely and promising. The State Minister of Technology, Kanaka Herath, has rightly highlighted the need to leverage advanced technology-based solutions…
Under the current FTA, Sri Lanka is permitted to export 8 million pieces of ready-made apparel to India without applicable duties. The JAAF (Joint Apparel Association Forum), the apex body of Sri Lanka apparel is hopeful to move beyond this quota, as FTAs carry the propensity to offer immense trade opportunities for both countries. As…
UNESCO intangible global cultural heritage program recognizes ‘Mazu’ or ‘Matsu’ as the most influential goddess of the sea in China. The Chinese sea goddess is influential in countries & regions along the Maritime Silk Road. Before typhoons, sailors would claim to see the bright red robes of the goddess on the water signaling the arrival of the…
The Longquan sword invented approx 2600 ago by master sword smith Ou Yezi is the most famous sword in China. Named after Longquan city in East China it is considered a symbolic step towards weapon development in Great China & the world. Master sword smith Ou Yezi has made three high quality valuable swords (Longquan,…
Jacques Vidal used the term “brain-computer interface” in a paper titled “Toward Direct Brain-Computer Communication.” in 1973. He was referring to the direct link between a human/ animal brain & an external device with computing abilities which allowed information exchange between the brain & the device. Over the years technology developed & is now known…
UNESCO recognized SL history chronicle “Mahavamsa” as a world heritage. It records island’s path as per the memories/ views of respective editors. Mahavansa describes in approx. half a paragraph about the services of King “Mahasen” who still is venerated by the masses as “God Mahasen”. The ‘Abayagiriya’ sthupa which is bigger than the ‘Ruvanweliseya’ is…
Fitch Ratings has downgraded Sri Lanka’s Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to ‘C’ from ‘CC’. The issue ratings on local-currency bonds have also been downgraded to ‘C’ from ‘CC’. The Long-Term Foreign-Currency (LTFC) IDR has been affirmed at ‘RD’ (Restricted Default) and the Country Ceiling at ‘B-‘. A full list of rating actions is…
Fitch Ratings-Colombo/Hong Kong/Singapore-04 July 2023: The Sri Lankan government’s proposal for treatment of domestic debt marks a significant step towards resolving uncertainties around the impact of the sovereign’s debt restructuring on the local banking sector, but complications may arise from a number of factors, says Fitch Ratings. The proposal excludes banks’ holdings of Sri Lankan…
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