One Mile at a Time – It’s being reported that the government of Sri Lanka has initiated preliminary discussions with both Emirates and Qatar Airways, with the intent of offering one of Sri Lanka’s airports as an alternative hub for the foreseeable future. This doesn’t center around Colombo Bandaranaike International Airport (CMB), the country’s largest airport. Instead,…
The International Monetary Fund (IMF) says Sri Lanka’s economic reform programme has made “very significant progress,” with strong growth, low inflation and improving external indicators, despite recent shocks. Speaking at a press briefing on March 19, IMF Communications Director Julie Kozack noted that the programme has remained on track even after the impact of Cyclone…
Reuters – Tesla, opens new tab is looking to buy equipment worth $2.9 billion for manufacturing solar panels and cells from Chinese suppliers including Suzhou Maxwell Technologies, opens new tab, two people familiar with the matter said, as CEO Elon Musk aims to add 100 gigawatts of solar capacity in the United States. Musk said…
Reuters – Oil prices fell on Friday as leading European nations and Japan offered to join efforts to secure safe passage for ships through the Strait of Hormuz and the U.S. outlined moves to boost oil supply. Looking to curb soaring oil prices, U.S. Treasury Secretary Scott Bessent said the U.S. may soon remove sanctions from Iranian…
Government to Prioritise Export Sector, Intervene to Overcome Challenges – President President Anura Kumara Dissanayake emphasised that the Government will take all necessary measures and intervene to the fullest extent to overcome the challenges currently facing the export sector, treating it as a national priority. The President made these remarks while attending a discussion with…
SriLankan Airlines Limited (the “Company“) and the Government of Sri Lanka (the “Government”) are pleased to announce the expiration of the Consent Solicitation, Exchange and Tender Offer related to the Company’s U.S.$175,000,000 Guaranteed Bonds due June 2024, guaranteed by the Government (the “Existing Bonds”). On 20 February 2026, the Company launched an official invitation to…
An International Monetary Fund (IMF) staff team is scheduled to visit Sri Lanka from March 26 to April 9, 2026, to conduct discussions with local authorities on the country’s reform programme. In a statement issued from Washington, D.C., IMF Mission Chief for Sri Lanka Evan Papageorgiou said the visit will focus on the combined fifth…
The Sri Lanka Banks’ Association (SLBA) has assured the public that banks will continue to operate on all five weekdays as an essential service, despite the temporary measures introduced to conserve fuel and energy resources. Accordingly, banks will remain open from Monday to Friday, including Wednesdays, with operations on Wednesdays limited to the hours of…
Deputy Minister of Finance Dr. Anil Jayantha Fernando announced that bondholders have agreed to restructure the USD 175 million bond issued by SriLankan Airlines. Addressing Parliament today (19), he said that 98% of lenders and 99% by value have consented to the restructuring. He emphasised that debt restructuring was critical to move beyond economic stabilisation,…
BBC – Oil prices rose above $110 (£82.78) a barrel after Iranian media reported an airstrike hitting a facility on the world’s largest natural gas field. The Brent crude oil benchmark hit $112 a barrel in early Thursday trade in Asia, more than 5% higher than Tuesday’s prices. The price has since fallen slightly. The benchmark…
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