Reuters – The world’s poorest countries are having to prioritize debt service over investments, United Nations Development Programme administrator Achim Steiner said on Monday, scuppering progress towards their sustainable development goals. Speaking at an event in Hamburg, Steiner said the financial crunch meant countries worldwide were struggling to meet the goals – a set of…
The World’s 50 Best Bars 2024, sponsored by Perrier, has revealed the extended 51-100 list. Decided by a voting panel comprised of more than 700 independent drinks experts, renowned bartenders and educators alongside award-winning drinks writers and cocktail specialists, the extended list is a precursor to the reveal of The World’s 50 Best Bars 2024…
Wijar, a Saudi brand of pure Ceylon tea was featured at the International Franchise Exhibition held in Riyadh, Saudi Arabia from 01 to 03 October 2024. Ambassador of Sri Lanka to the Kingdom of Saudi Arabia Ameer Ajwad attended the exhibition along with the proprietor of the company Faiz Sulaiman Al Faiz, to promote the…
On 19th September 2024, the Democratic Socialist Republic of Sri Lanka (the “Republic”) announced agreements in principle on the restructuring of approximately USD 14.2bn of sovereign debt (as of end 2023) with the holders of its International Sovereign Bonds (the “Bonds”), following negotiations with the Ad Hoc Group of Bondholders (“AHGB”), a representative group of…
The Sri Lanka Automobile Component Manufacturers Association (SLACMA) congratulates the NPP leader Anura Kumara Dissanayake on being elected as the new President of Sri Lanka. The association looks forward to NPP’s futuristic industrial policies to uplift the automobile industry. “It is commendable to see automobile assembly and automobile component manufacturing included in the NPP Policy…
Sri Lanka has been in negotiations with holders of Sri Lanka’s international sovereign bonds to restructure existing bonds to be exchanged for new securities. Sri Lanka has now reached an advanced stage of these negotiations as Agreements in Principle on restructuring terms were reached with foreign and domestic holders of sovereign bonds as announced on…
Senior Professor Hareendra Dissabandara has been appointed as the new Chairman of the Securities and Exchange Commission of Sri Lanka (SEC). He had previously served as SEC Director General from 2012-2013 as well as its Director of Financial Services Academy and Capital Market Education and Training Division from 2008-2012. Dissabandara is a Senior Professor of…
The Swedish government focused on developing renewable energy sector of Sri Lanka while increasing educational opportunities and mitigating the visa difficulties for Sri Lankan students in Sweden. These opinions were expressed in a discussion held between the Prime Minister Dr.Harini Amarasuriya and the Swedish Ambassador to Sri Lanka Mr. Jan Thesleff at the Prime Minister’s…
The Hambantota International Port (HIP) has marked a 40 percent increase in RORO vehicles handled between the 2nd and 3rd quarters of 2024. From 125,526 units handled in the 2nd quarter the port went up to 175,583 RORO units handled as at the end of September. A contributing factor to this is the increase in…
Sunshine Healthcare Lanka Limited (SHL), the healthcare arm of diversified conglomerate Sunshine Holdings PLC (CSE: SUN), announced the successful conclusion of the approximately LKR 3,270 million equity investment from the International Finance Corporation (IFC), a member of the World Bank Group. This landmark investment strengthens SHL’s vision to expand healthcare accessibility and bolster innovation across…
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