A cooperation framework agreement was signed in Beijing on Tuesday between the Port City Economic Commission, China Harbour Engineering Company, Browns Investments and Hunan Construction Investment Group for the phase 2 development of the Colombo Port City project for $ 1.565 billion. The agreement was signed by Port City Economic Commission Chairman Dinesh Weerakkody, China…
The Chinese Finance Minister, Mr. Liu Kun, has reaffirmed China’s commitment to extend comprehensive support for the implementation of a medium-term and long-term program that is mutually beneficial to both parties and aimed at optimizing Sri Lanka’s debt. The Chinese Finance Minister conveyed this commitment during bilateral discussions held this morning (19) in Beijing with…
Markets open and close ceremoniously across the globe and Maria Fernanda Garza, the first female Chair of the International Chamber of Commerce (ICC), rang the Opening Bell today to commence trading at the Colombo Stock Exchange (CSE). She was hosted by the team of The CSE that included Dilshan Wirasekara, Chairman, Rajeeva Bandaranaike, Chief Executive…
Bloomberg – Sri Lanka is taking an unfavorable view toward a proposal by foreign dollar bondholders for restructuring its debt, signaling possible complications in negotiations that are key for accessing further funding to support its economic recovery. “This proposal has not received a favorable response from Sri Lanka,” the Ministry of Finance said in an…
Bloomberg – Sri Lanka is close to reaching a vital staff-level agreement with the International Monetary Fund to get funding, while it’s also assessing debt restructuring terms from foreign holders of its dollar bonds, according to junior Finance Minister Shehan Semasinghe. “There are discussions on revenue and other clarifications are being made,” Semasinghe said via…
The Sri Lanka Maldives Business Council (SLMLBC) hosted a dinner meeting with His Excellency Ali Hashim from the Maldives Monetary Authority and High Commissioner His Excellency Ali Faiz on the 1st of September at the Kingsbury Hotel. Such meetings play a crucial role in strengthening bilateral relations and addressing important issues facing the business communities…
The highly anticipated Havelock City Mall is pleased to announce its grand opening on today (19th of October 2023). This international standard shopping mall promises to deliver an unparalleled shopping and entertainment experience, creating an ideal destination for the local community right in the heart of Colombo. Spanning over 200,000 square feet, Havelock City Mall…
Maria Fernanda Garza, the Chair, of the International Chamber of Commerce (ICC), arrived in Sri Lanka last evening (18). The ICC, representing 170 countries with a corporate membership of 45 million companies, is the largest and most influential business organisation globally. Only Chamber to represented in United Nations, WTO and WIPO. Her first visit to…
President says addressing the “Green silk road for harmony with nature” high-level conference. President Ranil Wickremesinghe emphasized that the world’s most biodiverse regions are found in tropical countries and he proposed the launch of a dedicated program to support these nations in addressing future climate change challenges. He highlighted that 80% of the world’s endemic…
Minister of State for Fisheries Piyal Nishantha, announced the development of a specialized investment zone in the Northern Province, which will be tailored to the fishing industry. This strategic endeavour aims to attract investments related to the fisheries sector, fostering economic growth and generating substantial employment opportunities for the citizens. Furthermore, State Minister underscored the…
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