Following the launch event in April 2023, 17 countries formally formed, on May 9, an Official Creditor Committee (OCC) co-chaired by India, Japan and France (as chair of the Paris Club) to respond to the Sri Lankan authorities’ request for a debt treatment. The committee includes India and Hungary in addition to Paris Club creditors….
Ceylon Chamber of Commerce chairman Mr. Duminda Hulangamuwa said, as the private sector, they are not satisfied with an economy growing under 3%, noting that the economy needs to expand by at least 4-5% annually in order to create new jobs and innovate. He said this delivering the welcome speech at the inauguration of Sri…
Reuters – Sri Lanka has been informed that a debt-restructuring agreement with creditor nations has been reached but is yet to receive a letter of confirmation from the official creditor committee, a government source told Reuters on Wednesday. Sri Lanka, mired in its worst financial crisis in decades, has been trying to reach restructuring deals…
Reuters – A group of Sri Lanka’s creditor nations are likely to reach an agreement on debt relief and an extension of repayment deadlines for the South Asian nation, Japan’s Jiji News reported on Wednesday, without naming a source or giving any details. Japan co-chairs this group, together with France and India. China is Sri…
The Colombo Stock Exchange (CSE) has approved in principle the listing of Commercial Bank of Ceylon’s Rs 6 billion Debenture Issue opening on Tuesday 12th December 2023. The Bank has announced an initial issue of 60 million Basel III Compliant – Tier 2 Listed Rated Unsecured Subordinated Redeemable Debentures with a Non-Viability Conversion feature, at…
Viability of green hydrogen being assessed as an alternative energy source for CGD consumers ATGL will use latest technologies to blend green hydrogen with natural gas for over 4,000 Home and Commercial PNG customers during the pilot phase Project will enhance existing infrastructure, diversify energy mix, develop hydrogen ecosystem and reduce CO2 emission by…
The country has made strides in overcoming challenges; the journey is not yet complete – Says President at Sanasa National Conference2023. President Ranil Wickremesinghe emphasized that, despite the country’s progress from past challenges, the journey is not yet complete. He stated that in order to achieve the desired goals, everyone must move forward with great…
In a landmark address at the 58th Annual General Meeting of The Hotels Association of Sri Lanka (THASL) held yesterday (27) at Shangri-La Hotel, Colombo, President Ranil Wickremesinghe outlined a comprehensive strategy to propel the country’s tourism sector to new heights. Focused on surpassing the target of 5 million tourists and redefining traditional approaches, the…
Dialog Axiata PLC, the first telecommunications service provider in the South Asian region to demonstrate 5G capabilities in 2018, has enabled over 200K Sri Lankans to experience the power of 5G on Dialog’s 5G Trial network. Customers connecting to Dialog’s 5G trial network can get the opportunity to experience the extraordinary potential of 5G technology,…
The Government of Sri Lanka is planning to borrow USD 60 million from the Asian Development Bank (ADB) under the Second Integrated Road Investment Program (Tranche 4) to finance carrying out the critical works of the already commenced and incompleted road sections of the overall Integrated Road Investment Program to improve road safety and minimize…
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