Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva commended the economic reform endeavors pursued by Sri Lanka during a meeting with President Ranil Wickremesinghe at the World Economic Forum in Davos, Switzerland. She emphasized the importance of the IMF Board approving the first review of Sri Lanka’s Extended Fund Facility (EFF) program in…
The Government of Sri Lanka (GoSL) intends to divest all or majority of its equity shareholding in Litro Gas Lanka Limited (LGL) & Litro Gas Terminal Lanka (Pvt) Ltd (LGTL). LGL engages in importing, filling, distribution and sale of LPG in Sri Lanka. It is the largest LPG supplier in Sri Lanka with a market share of 85% and operates an…
In an effort to better position and promote high quality exports of Ceylon Cinnamon, the International Finance Corporation (IFC) together with the Ministry of Plantation Industries and Sri Lanka Export Development Board (EDB) recognized the first batch of Geographical Indication (GI) certified Ceylon Cinnamon growers in the country. The initiative to enhance competitiveness of Ceylon…
New joiners will boost existing cabin crew numbers by 25% Airline invites graduates and young professionals worldwide to apply Emirates is celebrating the new year and the imminent arrival of its spanking new fleet of Airbus A350s with a global cabin crew recruitment drive with a difference. The 5,000 new joiners will ensure the airline’s…
Reuters – Sri Lanka’s Colombo port has seen a big jump in container volumes in recent weeks as vessels steering clear of tensions in the southern Red Sea have found it a convenient transit point, officials said on Tuesday. Yemen’s Iran-backed Houthi rebels have since November attacked ships in the Red Sea, part of a…
In a Strategic move to promote International Fair Trade and foster global cooperation, Sri Lanka officially signed the Framework of Cooperation (FOC) with international fair trade networks in Colombo recently. The signing ceremony, attended by representatives from major fair trade and supporting organizations, took place at the Colombo Ramada Hotel. The primary objective of the…
Bloomberg – SriLankan Airlines Ltd. missed a third coupon payment on its dollar bond due later this year, according to a filing on Tuesday. The company said a further event of default would occur because it doesn’t intend to pay the coupon due on Dec. 25, having already missed payments in December 2022 and June…
Gulf News – Saudi Arabia has announced a reduction in the fees for recruiting domestic workers from several countries, including the Philippines, Sri Lanka, Bangladesh, Uganda, Kenya, and Ethiopia. The revised fees unveiled by the Ministry of Human Resources and Social Development are: From SR15,900 to SR14,700 for the Philippines; from SR15,000 to SR13,800 for Sri…
Addressing the Business Roundtable organized by BOI Sri Lanka and the Swiss-Asian Chamber of Commerce yesterday, during his official tour to Switzerland to attend the 54th Annual Meeting of the World Economic Forum, President Ranil Wickremesinghe highlighted significant strides in Sri Lanka’s economic recovery and outlined future growth prospects. President Wickremesinghe began by acknowledging the…
Over the next few decades, everyone will undoubtedly reap the benefits of these investments. Urgent global action is required to expedite climate change mitigation efforts. Unfortunately, actual actions fall short of the committed initiatives. Developing nations bear the consequences of global leadership failures – President emphasizes during the Swiss Green Technology Forum. President Ranil Wickremesinghe…
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