Garment owners assure President of meeting export targets President Gotabaya Rajapaksa has said that the government, which is well aware of the challenges faced by the local apparel industry, is ready to extend its fullest support to enhance its productivity and quality. “We will follow a well-planned strategy to reach this objective”, President added. The…
SriLankan Engineering the engineering and maintenance arm of SriLankan Airlines, signed a ‘Total360’ aircraft engineering and maintenance agreement with FITS Aviation (Pvt) Limited last week. The agreement encompasses tasks involving base maintenance, line maintenance, and other engineering services, for FITS Aviation Limited’s Airbus A320 fleet of aircraft, in Sri Lanka. This agreement marks the beginning…
Foreign Minister Dinesh Gunawardena met with Pakistan High Commissioner Major General (Retd.) Muhammad Saad Khattak on 16 March 2021 at the Foreign Ministry to further discuss the avenues to expand the bilateral relationship pursuant to the recent visit to Sri Lanka by Prime Minister Imran Khan. Both sides agreed to expeditiously implement the projects which…
The GDP growth rate in 2020 has shrunk by 3.6 percent compared to the 2.3 percent growth recorded in 2019, according to the Department of Census and Statistics. The department said this issuing National Accounts Estimates of Sri Lanka for the fourth quarter of 2020 and the year 2020. Following is the full press release issued…
Global Rubber Industries (Pvt) Ltd. has partnered with Kingslake, Sri Lanka’s manufacturing solutions experts, to lay the foundation for its next phase of growth. By leveraging Kingslake’s Advanced Planning and Scheduling (APS) solutions, the country’s leading manufacturer of specialized tires hopes to make a significant contribution to the rubber industry, a key export of the…
The Board of Directors of FoodBuzz (Pvt) Ltd, a wholly-owned subsidiary of RIL Properties PLC, has decided to temporarily suspend its business operations. Accordingly, all BreadTalk outlets will be closed from March 20, 2021 until further notice. “We have been advised by FoodBuzz (pvt) Ltd, our wholly owned subsidiary, that due to adverse market conditions resulting…
SLT-MOBITEL has collaborated with the IT Division of Colombo Municipal Council (CMC) to introduce yet another pioneering initiative through Mobitel’s eChannelling service, enabling the convenient registration of persons for the COVID-19 vaccination. As part of the first phase, senior citizens over the age of 60 years and residing within the city of Colombo can avail…
The Sri Lanka Export Development Board (EDB) in collaboration with the Sri Lanka Embassy in Japan has taken steps to promote identified Sri Lankan export products with high potential in the Japanese market for the next 3 years. Based on the Statistical analysis and desk research carried out by EDB, a strategy paper has been…
According to the daily exchange report of the Central Bank of Sri Lanka (CBSL), the current buying rate of the US Dollar today (16) stands at Rs. 195.28 and selling rate of the US dollar stands at Rs. 200.06. This is highest selling rate recorded for a US dollar since, April 09, 2020. During that…
Fitch Ratings has affirmed the National Long-Term Rating on Sri Lanka-based telecoms company Dialog Axiata PLC at ‘AAA(lka)’. The Outlook is Stable. KEY RATING DRIVERS Mobile-Market Leader: Dialog’s Standalone Credit Profile (SCP) of ‘aaa(lka)’ is underpinned by its market leadership in the expanding mobile and pay-TV segments. We believe Dialog will continue to gain…
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