Debt reduction examples from Argentina, Ecuador, and Ghana pertain to commercial loans, not bilateral loans. Talks with JICA Scheduled Next Week to Restart Japanese Projects – Talks with JICA scheduled for next week to recommence Japanese projects – Minister of Ports, Shipping and Aviation Nimal Siripala de Silva. Minister of Ports, Shipping, and Aviation Nimal…
Bloomberg – Sri Lanka and creditors reached agreement on the terms for a $12 billion bond restructuring, bringing the South Asian nation closer to completing its debt overhaul two years after it defaulted. Bondholders and the nation agreed to a framework for a deal that includes notes linked to economic performance and a governance-linked structure…
The Government of the Democratic Socialist Republic of Sri Lanka (“Sri Lanka“) announces that it has held restricted discussions between 21 June 2024 and 2 July 2024 (the “Restricted Period“) with nine members of the steering committee who agreed to take part in the restricted discussions (the “Steering Committee“) of the Ad Hoc Group of…
High Commissioner of Sri Lanka to Singapore Senarath Dissanayake met with Minister for Transport and Second Minister for Finance of Singapore Chee Hong Tat, recently and discussed potential collaboration between the two countries on shared initiatives. During the meeting, High Commissioner Dissanayake provided an overview of the opportunities in Sri Lanka, particularly in the maritime…
Head of the Hayleys Plantations Sector and Managing Director of Kelani Valley Plantations PLC (KVPL) Dr. Roshan Rajadurai represented Sri Lanka at the recently concluded 10th World Water Forum held in Bali. During the esteemed Side Event – Executive Roundtable Dialogue titled ‘Flowing Forward Faster: Best Practices in Corporate Water Stewardship’, Dr. Rajadurai shared KVPL’s…
SLASSCOM and IIT Madras Pravartak have inked a landmark Memorandum of Understanding (MoU) aimed at enhancing collaboration and fostering innovation in Sri Lanka’s startup ecosystem. The agreement, was facilitated by Dr. Shankar Raman from IIT Madras Pravartak and SLASSCOM Chairman Jehan Perinpanayagam, Mr. Rajendra Moortha, and Nishan Mendis, Vice Chair of SLASSCOM. The MoU between…
The Joint Chambers of Commerce urge the Customs Officers to call off the ongoing work to rule, and the strike planned for the 4th and 5th of July. The current work to rule action has caused significant delays in clearing import cargo, resulting in supply chain disruption, and delays in production and delivery. The delay…
CNA Life Style – Sri Lanka’s world-famous Ministry of Crab is opening in Singapore on Jul 3 to a welcome carpet rolled out by seafood-loving foodies. After a couple of sporadic pop-ups held here over the years, the crab-focused restaurant by global superstar chef and restaurateur Dharshan Munidasa, which already has outposts in Shanghai, Chengdu,…
Raises record Rs 20 billion as Bank exercises all options after receiving applications for over three times the initial value The Commercial Bank of Ceylon’s and Sri Lanka’s largest ever debenture issue by a private bank closed after oversubscription on its opening day, Tuesday 2nd July 2024, raising Rs 20 billion for Sri Lanka’s biggest…
Reuters – Sri Lanka will save $5 billion in interest owed to bilateral creditors as part of its debt restructuring process, President Ranil Wickremesinghe said on Tuesday, adding that the funds will be used to boost dollar reserves and restore growth. The cash-strapped South Asian country inked deals with China and other creditor nations to…
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