The turn of the global interest-rate cycle, underlined by the US Federal Reserve’s 50bp Federal Funds target rate cut in September, should ease foreign-currency debt-repayment burdens and refinancing challenges for many emerging market (EM) issuers, says Fitch Ratings. Fitch expects the US rate-cutting cycle to be modest compared with historical cycles. However, we still expect…
“The job of the government is to protect both the employer and employee”- Noel Priyathilaka The Sri Lankan apparel sector has faced many challenges in recent years. Beyond the well-documented local challenges, the industry has also had to grapple with challenges originating from afar such as Covid-19 and the resultant economic uncertainties in the subsequent…
Former Axiata Group CEO Dr. Hans Wijayasuriya has been appointed as the Chief Advisor to the President on Digital Economy. He received his letter of appointment from President Anura Kumara Dissanayake at the Presidential Secretariat in Colombo today (01). The President’s Media Division (PMD) stated that the appointment marks a significant first step in Sri…
Axiata Group Berhad (“Axiata” or “the Group”) announced that Dr Hans Wijayasuriya, CEO of Telecommunications Business and Group Executive Director has been invited by the Government of Sri Lanka (“GoSL”) to lead the country’s digital economy agenda in the capacity of Chief Advisor to the President on Digital Economy and other related leadership roles. Dr…
The Consulate General of Sri Lanka in Mumbai together with the Industrial Development Board and the Export Development Board of Sri Lanka organized the Sri Lanka Pavilion at the 5th edition of the World Trade Expo (WTE 2024). WTE 2024 was organized by the World Trade Center Mumbai in collaboration with All India Association of Industries…
Horana Plantations PLC (HPL), a pioneer in Sri Lanka’s plantation sector and a distinguished member of the Hayleys Group PLC, has unlocked a groundbreaking milestone as the first company in the country to develop a management system fully compliant with the European Union Deforestation Regulation (EUDR), setting a new benchmark for sustainability and excellence in…
Sri Lanka’s external debt reached USD 37.5 billion as of June 2024, according to the Mid-Year Fiscal Position Report. In the first half of 2024, debt service payments amounted to USD 503 million, comprising USD 275.1 million in principal and USD 227.9 million in interest. As part of its interim debt standstill policy, the government…
AmSafe Bridport is a subsidiary of Transdigm Company (a $6.6B company that employs over 16,000 people globally and listed on New York Stock Exchange ). Established in 2001 as an engineering solution provider to global airlines and aircraft builders such as Boeing and Airbus, AmSafe BirdPort began its miniaturization operations in Sri Lanka to cater…
By Jithendra Antonio Transforming Conflict into Opportunity for a Thriving Future In a world increasingly fragmented by geopolitical conflict, Sri Lanka has a remarkable opportunity to establish itself as a sanctuary for global talent and displaced professionals. Spanning over 65,000 square kilometers with a GDP of $74 billion at present, this island nation can strategically…
The LNG (liquefied natural gas) dual-fuel RORO vessel Glovis Selene made its maiden call at the Hambantota International Port (HIP) last week, unloading 627 CEUs (Car Equivalent Units) and loading 934 CEUs bound for the Persian Gulf. This marks the second time a dual-fuel LNG vessel has docked at HIP, highlighting the port’s capacity to…
Video Story
