“MS Amsterdam” the flagship of the Holland America Line, on her Grand World Voyage 2016, arrived in Colombo on Monday. The passenger vessel started from Florida on 5th January 2016 and arrived in Colombo port on 21st March 2016. She had called at Hambanthota Port on 20th March 2016 from the Port Phuket, Thailand before…
After a significant reduction in investments over the past two years, oil companies can no longer overcome the production declines from legacy wells. The oil business is nothing more than a rat race. Oil companies continually have to drill new wells to offset the decline from legacy wells. If they drill too much it causes…
Paris (AFP) – A bankrupt Luxembourg investment firm once chaired by disgraced former IMF chief Dominique Strauss-Kahn will be investigated for fraud, a French judicial source said Thursday. French prosecutors set out charges of organised fraud, misuse of corporate assets and breach of trust against Paris-listed Leyne Strauss-Kahn and Partners (LSK) earlier this month. “The…
Aims to promote two way trade and investment between Sri Lanka and Switzerland The Ceylon Chamber of Commerce and Zurich based Swiss-Asian Chamber of Commerce signed an MOU recently in a bid to promote trade and investments between Sri Lanka and Switzerland. The signing took place in Colombo recently with the participation of CCC Chairman…
Fitch Ratings Lanka has affirmed and simultaneously withdrawn the rating of HSBC Sri Lanka Branch’s (HSBCSL) National Long-Term Rating at ‘AAA(lka)’ with a Stable Outlook due to commercial reasons. KEY RATING DRIVERS NATIONAL RATINGS HSBCSL’s rating is at the highest end of the National Rating scale and reflects the credit profile and financial strength of…
• Watawala Dairy Ltd. set up with FDI of USD 3 million from Singapore-based Duxton Asset Management • International asset management’s first-ever agricultural FDI in Sri Lanka Watawala Plantations PLC, a member of the diversified Sunshine Holdings conglomerate and one of Sri Lanka’s largest Regional Plantation Companies (RPCs), has announced plans to set up a…
Sri Lanka’s next big power project in the pipe line is tipped to be coal. However, the country will need to shift to a cleaner alternative for a brighter future and developing the logistical capacity for it will be a crucial factor in deciding the viability of clean energy. Sustainable power generation is fast becoming…
Sri Lanka Telecom (SLT), the national ICT solutions provider in the country announced the company’s partnership with the government’s Virusara Varaprasada initiative that seeks to pay tribute to war heroes and their families for the great sacrifice that they have made on behalf of the nation. The announcement was made at a press conference organized…
Pakistan and Sri Lanka have intensified engagement and undertaken substantive measures to further deepen and broaden the economic and political ties between the two countries, an envoy said here on Wednesday. Pakistan’s High Commissioner in Sri Lanka, Syed Shakeel Hussain, speaking at a ceremony to mark the 76th Pakistan Day, said here that Sri Lankan…
The Exporters Association of Sri Lanka (EASL) records its appreciation and welcomes the recent announcement that the Commonwealth Secretariat has offered technical assistance towards the Government’s initiative to set up the proposed EXIM Bank facility as was declared in the recent Budget. The EASL articulated this need for many years. Its considered opinion is that…
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