LONDON, (Reuters) – Moody’s Investors Service on Monday said it had placed the government of Sri Lanka’s Caa1 rating under review for downgrade, citing the risk of default due to falling foreign exchange reserves. The ratings agency said the decision, which applies to Sri Lanka’s foreign currency long-term issuer and senior unsecured debt ratings, reflected an increasingly…
As per the latest statistics released by the Sri Lanka Customs, the export sector performance has been able to maintain its upward trend in June 2021 with exports increasing by 9.41 % to US$ 978.2 Mn compared to June 2020. This upward trend was evident year-on-year for the last four months. Sri Lanka’s merchandise exports…
In line with the mandate of the State Ministry of Regional Cooperation to enhance economic relations with the Middle-East, State Minister Tharaka Balasuriya, held virtual deliberations with Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman Qais bin Mohammad Al Yousef on 14 July, 2021. During the discussion, State Minister Balasuriya highlighted the…
The Silk Road Journal by Mahika Ming In 1398 the Ming dynasty started ruling Great China & the imperial navy under the command of Admiral Zheng He sailed the known world connecting China to the rest of the world. The Sunflower which was native to South America arrived in China through the international relations developed…
JAT Holdings, Sri Lanka’s trusted industry leader in finishing and furnishing, will commence its Initial Public Offering (IPO) on the 20th of July. The much anticipated IPO will enable investors to indulge in a plethora of benefits by investing in one of Sri Lanka’s leading conglomerate brands in wood coatings and paint. As a highly…
The United States is contributing to Sri Lanka’s economic resilience through the provision of a financial facility of USD 150Mn. The facility awarded by the United States International Development Finance Corporation (DFC) to DFCC Bank as a Bilateral loan will go towards the local Micro, Small and Medium Enterprise (MSME)sector, as well as women-led enterprises…
WE, the Sri Lanka Joint Apparel Association Forum (JAAF) wish to express concern over several misleading allegations raised in the article published by Human Rights Watch (HRW) on 12 July 2021, titled “Sri Lanka: Protect Garment Workers’ Rights During Pandemic, Compromised Safety, Pay Cuts, Representatives Threatened.” As acknowledged by HRW, a fully-functioning apparel industry is…
Story Highlights COVID-19 has prompted policy makers to move beyond traditional definitions of “poor and vulnerable” communities By 2030, one in every five Sri Lankans will be over the age of 60 and currently only about 30% of Sri Lankans are covered by formal pensions, with women having less access A clear social protection strategy…
~Makes request to temporarily suspend calling for pitches and competitive bids~ The MarCom Collective recently made an appeal to clients on behalf of marketing communication industry, requesting them to refrain from calling for pitches and competitive quotations with concepts and to continue to work with their existing partners until the current situation eases for all….
A chartered plane arrived in Sri Lanka with more than 1.5 million doses of the Moderna COVID-19 vaccine from the COVAX Facility. Donated by the United States, the 1,500,100 doses of the vaccine come to Sri Lanka under the dose-sharing mechanism of COVAX facility promote equitable access to COVID-19 vaccines across the globe. “The Government…
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