By Jithendra Antonio Navigating a New Era in Global Trade Sri Lanka, an island that has stood as a strategic maritime crossroads for millennia, now finds itself at the cusp of a once-in-a-lifetime opportunity, the chance to once again redefine its role in global commerce. With its perfect position at the heart of international sea…
In a significant development for Sri Lanka’s Fair trade sector, a stakeholders’ meeting was recently held in Colombo in December 2024, organized by the Export Development Board (EDB) and the Fairtrade Network of Asia Pacific Producers (NAPP), Sri Lanka. The meeting aimed to discuss the main projects currently executing, future of Fairtrade in Sri Lanka,…
A high-level discussion on the critical preparations for Sri Lanka’s upcoming Mutual Evaluation (ME) by the Asia/Pacific Group on Money Laundering (APG) was held Monday (23) at the Presidential Secretariat under the patronage of President Anura Kumara Disanayake. The meeting focused on preventing money laundering and countering terrorism financing (AML/CFT) and included participation from cabinet…
Hambantota International Port (HIP) experienced a modest increase in cruise ship arrivals in 2024, marking a significant shift in the origin of vessels calling at the port. While there was a noticeable decline in cruise ships originating from the Indian subcontinent, the port saw a substantial rise in ships arriving from Europe. Of the 23…
The Invitation Memorandum for the exchange of International Sovereign Bonds of the Democratic Socialist Republic of Sri Lanka dated 25 November 2024 (the “Invitation Memorandum”) was published by the Ministry of Finance, Planning and Economic Development with subsequent announcement of the final results of the consent solicitation for the exchange on 16 December 2024 (terms…
In the aftermath of President AKDs visit many are talking about the Indo – Lanka joint statement to foster partnerships for a shared future (Ref. Media). Among the key points customized training & greater connectivity for bilateral growth are mentioned. Accordingly among other points, 1500 Sri Lankan civil servants shall be trained through National Centre…
The United States through the United States Agency for International Development (USAID) is proud to announce the successful completion of the first certificate program in migration law and policy in Sri Lanka by 69 professionals who now have the tools and knowledge to take the fight against human trafficking back to their communities. The six-month course was…
Moody’s Ratings (Moody’s) has today (23) upgraded the Government of Sri Lanka’s long-term foreign currency issuer rating to Caa1 from Ca. The outlook is stable. Previously, the rating was on review for upgrade. The decision to upgrade the issuer rating to Caa1 is driven by the conclusion of the restructuring of Sri Lanka’s international bonds…
The Sri Lanka Export Development Board (EDB) reports a notable 13.08% growth in export earnings from coconut-based products for November 2024. These earnings increased from $62.06 million in November 2023 to $70.18 million in November 2024. Cumulative earnings for the January to November 2024 period also rose by 19.86%, reaching $782.32 million compared to $652.70…
Janashakthi Insurance PLC has announced the appointment of Annika Senanayake as the new Chairperson, effective 01 January 2025. Annika, with over 15 years of extensive experience at the IWS Holdings Group, a diversified conglomerate, involved in sectors that include telecommunications, warehousing and logistics, media and broadcasting, automobiles, aviation, warehousing, food and beverage processing and packaging,…
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