Newly-appointed Ambassador to China Dr. Palitha Kohona assures his fullest support in Tourism Promotion Sri Lanka Tourism is working with the Sri Lankan Missions Overseas, through collaborations, with the intension of coordinated and targeted tourism promotions in the new normal. In this context, visit to Sri Lanka Tourism by Dr. Palitha Kohona, the newly appointed…
Moody’s Investors Service yesterday (29) downgraded the long-term foreign currency deposit ratings of Bank of Ceylon (BOC), Hatton National Bank PLC (HNB) and Sampath Bank PLC (Sampath) to Caa1 from B3, and the banks’ long-term local currency deposit ratings to Caa1 from B2. At the same time, Moody’s has downgraded the Baseline Credit Assessment (BCA)…
Consul General of Sri Lanka Manorie Mallikaratchy, making a presentation on Sri Lanka as a tourist destination, called for a paradigm shift on how the tourism and travel sector is perceived in the new normal era and invited the Chinese tour and travel industry to explore boundless possibilities between China and Sri Lanka in reshaping…
A historic MOU was signed virtually by Mr. Manjula de Silva, Chief Executive Officer of the Ceylon Chamber of Commerce and Mr. Sayed Zaman Hashemi, Chief Executive Officer of the Afghanistan Chamber of Commerce and Investment, witnessed by His Excellency M. Ashraf Haidari, Ambassador for Afghanistan in Sri Lanka. The Ceylon Chamber of Commerce with…
President Gotabaya Rajapaksa has appointed investment banker turned tech entrepreneur Jayamin Pelpola to the board of the BOI (Board of Investment), with immediate effect. Jayamin Pelpola Jayamin has over 10 years of international investment banking and asset management experience working for Goldman Sachs and Nomura USA. He is the only Sri Lankan to have worked…
Softlogic Capital PLC has agreed to acquire 33,063,877 ordinary shares amounting to 49.67% of the issued ordinary shares of Abans Finance PLC from its major shareholder Abans PLC at a price of Rs.30.10 per share subject to the recipient of all regulatory approvals which are required for the acquisition. In a Stock Exchange Filing, Softlogic…
The Cabinet of Ministers has approved the decision to terminate the Japan International Cooperation Agency (JICA)-funded light rail transit (LRT) project which was planned to be implemented in the western region of Sri Lanka as a solution for the severe traffic congestion. Recently, the Cabinet granted the approval to implement the Colombo Light Rail Transit…
Going forward, Sri Lanka will look at ways to reduce a significant trade deficit with India, State Minister for Finance, Capital Market and State Enterprise Reforms Ajith Nivard Cabraal stated. The State Minister made this remark whilst addressing a special press briefing yesterday (28) to make clarification about the virtual bilateral summit between Sri Lankan Prime Minister…
Following the announcement by Moody’s Investors Service downgrading Sri Lanka’s Sovereign rating, the Ministry of Finance has responded saying the rating action is unwarranted and requested the foreign investors not to be dissuaded by the action. Full statement issued by the Finance Ministry as follows; Moody’s Ratings Downgrade Unwarranted; Analysis Erroneous; Suggests Reckless Reaction We…
UNIDO ITPO Tokyo hosted a webinar on “Investment Opportunities in Export Processing Zones in Sri Lanka” with the Board of Investment of Sri Lanka and the Embassy of Sri Lanka in Japan. Held on the 28th August, the event was supported by Japan External Trade Organization (JETRO). Yuko Yasunaga, Head of UNIDO (ITPO) Tokyo, commenced…
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