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A rise once more in the exclusive business barometer raises hope of better times

Business Sentiment – A Less Mercurial Barometer The implications of Budget 2023 – and a reassessment of cash flows, assets and liabilities – will occupy the minds of corporates as the new tax rates and policies kick in. But there’s been a sense of optimism in recent times even as people acknowledge and realise that…

(0)Comments | November 30, 2022 4:28 pm

Sri Lanka’s debt to China close to 20% of public external debt – study

LONDON/JOHANNESBURG, Nov 30 (Reuters) – Sri Lanka owed Chinese lenders $7.4 billion – nearly a fifth of its public external debt – by the end of last year, calculations by the China Africa Research Initiative (CARI) published on Wednesday showed, an estimate higher than many others. The figure was above the “often-quoted 10 to 15…

(0)Comments | November 30, 2022 4:26 pm

Showcasing Sri Lanka’s finest products: Ceylon Tea, Spices, and Coffee at the International Bazaar 2022

The Embassy of Sri Lanka in Manila participated at the International Bazaar 2022 held on 20 November 2022 at the World Trade Center, Pasay City, Philippines. Together with the local distributors of renowned Ceylon tea brands Dilmah, Basilur, and George Steuarts, the Embassy organized a “Sri Lanka Pavilion” designed to showcase the country’s best features: Ceylon…

(0)Comments | November 30, 2022 4:25 pm

Fitch Group Expanding Singapore Office for Further Growth With New Location

Fitch Group, a global leader in financial information services, is pleased to announce the expansion and relocation of its Singapore office – as part of its plans to further strengthen its business in the Asia-Pacific region (APAC). Fitch Group’s business units – Fitch Ratings (credit ratings, research and analysis), Fitch Solutions (data, research and analytics),…

(0)Comments | November 30, 2022 4:19 pm

Singapore Airlines to get 25.1% in Air India as part of Vistara merger deal with Tata

‘Business as usual’ at Vistara until consolidation is completed by March 2024, says Tata Sons CEO The Hindu – Singapore Airlines will get a 25.1% stake in Air India and make an investment of ₹2,059 crore in the Tata-owned airline as part of an agreement to merge their joint venture Vistara with the larger Indian…

(0)Comments | November 30, 2022 1:44 pm

Acclaimed policy and industry leaders to feature at Sri Lanka Economic Summit 2022

The most anticipated economic event of the year, the Sri Lanka Economic Summit 2022 will commence under the theme ‘Resetting from Turmoil to Opportunity’ on December 5th at the Shangri-La Hotel, Colombo. The Summit will be inaugurated by the Chief Guest President Ranil Wickremesinghe on December 5th. The Guest of Honour will be Mr. Martin…

(0)Comments | November 30, 2022 11:12 am

Merchandise export earnings surpass USD 11 Bn from Jan-Oct 2022

As per data released by Sri Lanka Customs, the earnings from merchandise exports have exceeded USD 11 billion from January to October 2022, the Export Development Board (EDB) says. This is a growth of 9.33% in comparison to the same period in 2021. The earnings from merchandise exports in the first ten months of last…

(0)Comments | November 29, 2022 4:32 pm

LAUGFS Gas Ensures a Continuous Supply of LP Gas to All its Customers in the Country

LAUGFS Gas, one of the largest LP Gas suppliers in Sri Lanka is currently operating at maximum capacity, filling and distributing its LP Gas cylinders island-wide to restore the current market supply. In the recent past, the market supply was challenged due to several macro-environmental factors. By resolving most of the financial challenges created from…

(0)Comments | November 29, 2022 1:40 pm

APAC Telcos’ 2023 Leverage to Remain Stable, Despite High 5G Capex

Fitch Ratings – Fitch Ratings expects APAC telcos’ median 2023 leverage to remain stable, supported by easing competition amid ongoing industry consolidation. Free cash flow (FCF) generation will improve, but will remain limited, as modest EBITDA growth will be consumed to either build or expand 5G infrastructure. Our sector outlook for 2023 is neutral. We…

(0)Comments | November 29, 2022 11:51 am

Pharmaceutical Manufacturers Chamber seeks BOI approval for new Zone in Oyamaduwa

The Chamber of Pharmaceutical Manufacturers- Oyamaduwa (CPMO), the local investors of the “SUWA SIRI PURA” pharmaceutical manufacturing zone in Oyamaduwa, Anuradhapura, recently had a discussion with the Board of Investment (BOI) officials where they requested the top management to consider registering the Oyamaduwa under the BOI. The meeting was convened under the patronage of BOI…

(0)Comments | November 29, 2022 11:26 am