With Hambantota International Port (HIP) resuming operations with Litro Gas the port completes its full complement of energy services, positioning itself to vie for hub status in the South Asian region. Litro Gas supplies LPG to Sri Lanka’s domestic market, and the company has leased tanks at the Hambantota International Port to support their supply…
Modalities to issue temporary travel documents to undocumented workers abroad following proper authentication procedures has been agreed on by the Department of Immigration and Emigration, the Foreign Relations Ministry said in a statement yesterday (04). This follows consultations between the Ministry of Foreign Relations, Ministry of Skills Development, Employment and Labour Relations and Sri Lanka…
Charting A Course for Sri Lanka’s Tourism Future – Navigating Post Covid-19 The Cinnamon Future of Tourism Virtual Conference will be held on 11th May 2020 on the theme Charting a Course for Sri Lanka’s Tourism Future. The first ever edition on its virtual platform (Facebook Live/MS Teams) will host renowned speakers known globally for…
Ganeshan Wignaraja, Executive Director, Lakshman Kadirgamar Institute of International Relations and Strategic Studies The pace of Asia’s growth is likely to reach a historic low in over five decades of successful economic development and slow to a standstill – reflecting the economic hit from the Covid-19 pandemic. This is the bleak reading according to…
Huawei, the global leading ICT solution provider, stepped up efforts and pledged support to Sri Lanka to fight against the Corona Virus epidemic through a donation of a range of cutting-edge ICT solutions. Accordingly, 5 Sets of Huawei high definition video conference systems were provided to help government sector to make decisions with less risk…
As the first stage of the recently pledged Rs. 200 Million towards urgently required ICU capacity development in hospitals selected by the Ministry of Health (MOH), Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, commenced immediate civil reconstruction for the expansion and provision of all equipment to establish a fully functional Intensive Care Unit (ICU)…
COVID-19 has proven to be an unprecedented challenge for the corporate sector as all but essential services operations have come to a halt amid an extended period of lockdown in several parts of the country. A recent report by Fitch Ratings states that “corporates in consumer goods retail, construction and hotels will be among the…
Sri Lanka’s economy is among the worst affected by the COVID-19 crisis, according to London-based publication ‘The Economist’. The financial paper which ranked 66 countries that are relatively safe and are in distress based on four potential sources of peril including public debt, public and private foreign debt, borrowing cost and reserve cover, ranked Sri…
Sri Lanka’s oil palm cultivators can provide tangible support to the government’s efforts to promote local agriculture and import substitution as a response to the impact of the COVID-19 pandemic on the national economy, the sector’s apex industry association has said. In a statement, the Palm Oil Industry Association (POIA) which represents cultivators as well…
Fitch Ratings has downgraded Sri Lanka-based Sri Lanka Insurance Corporation Limited’s (SLIC) Insurer Financial Strength (IFS) Rating to ‘B’ from ‘B+’. The Outlook is Negative. SLIC’s National IFS Rating was not covered in this review. KEY RATING DRIVERS The rating action follows Fitch’s annual review of SLIC. The review took into consideration Fitch’s current assessment…
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