Fitch Ratings-Colombo, Sydney-07 June 2023: Weak operating conditions for Sri Lankan insurers raise near-term downside risks to their credit profiles, says Fitch Ratings. Operating risks have risen due to the sovereign’s deteriorated credit profile and the resultant lowering of the national ratings of some state-owned and private-sector institutions. The negative rating actions on the Sri…
The members of Tea Exporters Association (TEA), who are responsible for earning over USD 1billion in net tea exports earnings annually, express our deep concern over the decision taken by the Cabinet of Ministers on the 5th June 2023 to terminate the paperless Simplified VAT system. This current simplified system provides exporters with a significant…
Sri Lanka’s official reserve assets stood at USD 3,483 million in May 2023, according to the Central Bank of Sri Lanka (CBSL). This indicates an increase of 26.2% from the official reserve asset figure of USD 2,761 million in April 2023. However, the current official reserve assets include a swap facility from People’s Bank of…
The Committee of Selection of the Parliament decided Wednesday (07) to nominate the Member of Parliament (Dr.) Hon. Harsha de Silva as the chairman of the Committee on Public Finance in the fourth session of nineth Parliament. This nomination has been made in accordance with Standing Orders 121, and the first meeting of the Committee…
Dr. Harsha De Silva appointed as the new Chairman of the Committee on Public Finance on the recommendation of the President President Ranil Wickremesinghe announced plans to establish a Digital Promotion Agency aimed at developing computer applications for the collection and monitoring of data from various government entities in Sri Lanka. Previously, private companies had…
Fostering International Collaboration for Humanitarian Endeavours. In a momentous development, President Ranil Wickremesinghe convened a meeting Wednesday (07) with a delegation composed of members from the esteemed Sri Lanka Red Cross Society (SLRCS) and the prestigious International Federation of Red Cross and Red Crescent Societies (IFRC). The delegation comprised distinguished leaders, including Mr. Jagath Abeysinghe,…
Sailing into Paradise: Advantis Welcomes Cordelia Cruises at Hambantota Advantis and Cordelia Cruises partner to pioneer cruise sailing operations around the island The MS Empress arrives with 1,600 passengers onboard Anticipates 80,000 tourist arrivals in the first 4 months alone Advantis appointed General Sales Agent and Port Agent in Sri Lanka for Cordelia Cruises Ushering…
The Ceylon Chamber of Commerce in partnership with Business Network International (BNI) will host a Forum titled ‘Building a Global Sri Lanka – Networking the Way Forward’, on June 13th at the Cinnamon Grand Hotel Colombo. World-renowned networking guru and founder of BNI Dr. Ivan Misner, who has been dubbed the ‘Father of Modern Networking’…
Building an inclusive distribution and retail network is key for long-term continuity and resilience of corporate supply chains in Sri Lanka, reveals a new study by the International Finance Corporation (IFC). The study examines the impact of enhancing female participation in retail and distribution networks on the growth of fast-moving consumer goods (FMCG) companies, based…
(SeafoodSource) – Taprobane Seafoods and Direct Source Seafood have entered a strategic partnership to produce, market, and sell Taprobane’s products in the United States. Taprobane Seafoods has 17 processing facilities, employing over 2,000 direct employees throughout the North-Western and Northern Provinces. They are committed to being a leader in sustainable and socially responsible seafood. Taprobane Seafoods is…
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