NEW YORK/BOSTON/HONG KONG, Sept 21 (Reuters) – The risks of China Evergrande Group (3333.HK) defaulting on its mountain of debt loomed large over nervous markets on Tuesday, as investors looked for signs of intervention by Beijing to stem any potential domino effect across the global economy. Analysts played down the threat of Evergrande’s troubles becoming the country’s…
Cautions that the tea industry will be unable to meet export earnings targets as a result of policy changes Due to the shortage of suitable fertilizer, Sri Lanka is unlikely to be able to achieve its export earnings target for 2021, according to the Planters’ Association of Ceylon (PA), which also reiterated calls for a…
CNBC — The Singapore government on Friday announced a series of initiatives to lure “promising high-growth” companies from around the region to list on the local stock market. Singapore is a favored listing destination for REITs, or real estate investment trusts. But the city-state has struggled to attract blockbuster initial public offerings from the tech sector,…
Mr Nadeem Omar brings onboard, Mr Aziz Abdul Rahim Kassamali and Mr. Majid Bashir as co-owners Mr Omar also owns the Quetta Gladiators franchise in the Pakistan Super League (PSL) The total valuation of the Galle Gladiators is $3.82M The vision is to build team Galle with the best available international star players like Andre…
The Lankan Angel Network (LAN), the country’s largest network of angel investors, has appointed Chandi Dharmaratne as its Chairperson for 2021/2022, at its most recent Board Meeting held in September. Ms. Dharmaratne is the first woman to lead the Lankan Angel Network. As she steps into this role, Ms. Dharmaratne succeeds Mano Sekaram, Founder/CEO –…
The Consulate General of Sri Lanka in Guangzhou participated with Guangdong Scenery International Travel Agency in the China (Guangdong) International Tourism Industry Exposition (CITIE) held from 10-12 September 2021 in Guangzhou, organized by the Department of Culture and Tourism of Guangdong Province. The Consulate designed the Sri Lanka stall embossed with vibrant beautiful pictures of…
Affirming their deep-rooted commitment to sustainability, Sri Lanka’s leading diversified agribusiness company Watawala Plantations PLC (WPL), is strongly pushing for change within the industry with strong efforts to promote encourage sustainable agriculture practices. With the steep rise in pressing environmental challenges across the globe, the company doubled down on their plan to contribute towards the…
Moody’s Investors Service – On 10 September, Sri Lanka (Caa1 review for downgrade) published details of its foreign currency (FX) reserves position1, which was nearly $3 billion as of the end of August 2021, 43% lower than at the beginning of the year and around $600 million lower compared to the end of June. Foreign exchange…
Port City Colombo, the largest and most ambitious development project ever undertaken in Sri Lanka, proudly marks its 7th anniversary since the initial land reclamation work commenced in 2014. During this period, the project has committed USD 1.4 billion of foreign direct investment to Sri Lanka for initial reclamation and internal infrastructure development. The…
Fitch Ratings: Restrictions on vehicle importation will continue to constrain growth prospects of Sri Lankan finance and leasing companies (FLCs), dampening prospects for the sector’s earnings, says Fitch Ratings in a new report. Higher second-hand vehicle prices due to limited new vehicle supplies have reduced affordability and will most likely weaken future demand for vehicle…
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