Renowned Sri Lankan businessman Lalith Kotelawala passed away at the age of 85 this morning (21 Oct.), Ada Derana learns. The former Chairman of Ceylinco Consolidated and the founding Chairman of Seylan Bank, Deshamanya Deshabandu Jeewaka Lalith Bhupendra Kotelawala was reportedly receiving treatment at a private hospital in Colombo at the time of his demise….
NDTV – Mumbai Indians have officially appointed former Sri Lanka pacer Lasith Malinga as their bowling coach, the Indian Premier League franchise said on Friday, promptly filling the void left by the departure of Shane Bond. The 40-year-old Malinga, who played for the five-time champions in his prime, will join the coaching team led by…
Reuters – China is willing to offer assistance to Sri Lanka without political conditions and buy more of its exports, President Xi Jinping told his Sri Lankan counterpart on Friday in Beijing, state media said. The assurances came a week after the crisis-hit island nation said it had reached agreement with the Export-Import Bank of…
The Ceylon Chamber of Commerce congratulates the Government of Sri Lanka for reaching a staff-level agreement on the first review of Sri Lanka’s Extended Fund Facility Arrangement (EFF) with the International Monetary Fund (IMF). This agreement is set to grant Sri Lanka access to the second tranche, approximately US$330 million in financing, pending approval by…
The State Minister for Technology, Mr. Kanaka Herath, highlighted the pressing need to equip high school graduates with the necessary skills to bridge the workforce gap in the Information Technology (IT) sector in Sri Lanka. Every year, there are approximately 20,000 job opportunities within the IT sector, yet a deficit of adequately trained professionals persists….
The State Minister of Power and Energy D.V Chanaka stressed that there is no threat of fuel shortage and emphasized that the necessary tenders for fuel import up to June of the next year have been completed, ensuring an uninterrupted fuel supply until that time. He also highlighted that by entrusting the supply of fuel…
IMF staff and the Sri Lankan authorities have reached a staff-level agreement on economic policies to conclude the first review of the 48-month EFF-supported program. Sri Lanka will have access to SDR 254 million (about US$330 million) in financing once the review is approved by IMF Management and IMF Executive Board. Macroeconomic policy reforms are…
The Commercial Bank of Ceylon recently received the award for the Best Bank in Sri Lanka in 2023 from the US-based Global Finance magazine, at the 30th edition of the magazine’s annual awards presentation which took place at the Meydene Theatre in Marrakech, Morocco. This is the 21st occasion that Commercial Bank has won this…
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…
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