Sri Lanka signed debt treatment agreements with Export-Import Bank of China (EXIM) in Beijing, a short while ago, to restructure USD 4.2 billion of debt, the President’s Media Division said. The Framework Agreement related to this was signed between Sri Lanka and China in Colombo, Sri Lanka. This restructuring provides significant debt relief, allowing Sri…
Sri Lanka has reached a final restructuring agreement for USD 5.8 billion of debt with its bilateral lenders’ Official Creditor Committee in Paris, France a short while ago. This agreement grants significant debt relief, allowing Sri Lanka to allocate funds to essential public services and secure concessional financing for its development needs, the President’s Media…
Vice Chancellor of Flinders University, Professor Colin J. Stirling, recently visited Port City Colombo as part of the ongoing discussions regarding the educational investment opportunities available within this visionary master-planned city development. He was accompanied by a delegation of officials, including Dr. Harsha Alles, Chairman, Gateway International School Group. The delegation was welcomed by Thulci…
Sri Lanka Export Development Board (EDB) in collaboration with the Engineering Faculty of the University of Moratuwa (UoM), launched a new programme to integrate the construction related and power & Energy industry with the University Research Projects to address challenging research questions with real-world applications. This program is planned for two years commencing from 2024…
Efforts Underway to Integrate Economic and Technical Sectors Through IT and Computer Technology – The President President Ranil Wickremesinghe emphasized that the government is placing special focus on integrating economic and technical sectors through advancements in computer and information technology. The President highlighted the vision to transform Colombo Port City into a financial zone facilitating offshore…
By Jithendra Antonio Sri Lanka is at a critical juncture. Ranked 116th out of 182 countries on the climate vulnerability index, the nation faces escalating threats from climate change, including frequent droughts, floods, and other extreme weather events. These climate-induced disruptions pose significant risks to economic activities, potentially stalling progress and destabilizing key industries. In…
Bloomberg – Sri Lankan officials and global investors are expected to hold a second round of direct talks this week to agree on the restructuring of $12 billion in defaulted bonds, according to people familiar with the matter. A group of bondholders, known as the steering committee, will continue to negotiate on the government’s new…
Brown and Company PLC has announced the sale of its entire 100% stake in Browns Fabric Limited to Ceylon Knit Trend (Private) Limited for Rs. 50,000,000. The transaction was finalized on June 20, 2024. Browns Fabric Limited operates a knit fabric manufacturing and processing plant in Pannala.
The Ceylon Chamber of Commerce officially launched the SPARK Youth Entrepreneurship Competition – 2024, setting the stage for aspiring young entrepreneurs across the country to pitch their innovative business ideas and win big at the Grand Finale in September. Building on the success of its inaugural edition in 2023, which drew over 400 applications from…
The Sri Lanka Export Development Board (EDB), Sri Lanka Apparel Sourcing Association (SLASA), Sri Lanka High Commission in the UK, and Joint Apparel Association Forum (JAAF) have collaboratively organized an unique export promotion programme titled “Sourced Sri Lanka” – Textile & Apparel Roadshow in the UK. This exhibition was taken place on 17th and 18th…
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