Nikkei Asia – Sri Lanka’s President Ranil Wickremesinghe said he intends to apply for membership in the Regional Comprehensive Economic Partnership (RCEP) trade bloc, as his South Asian country strives to rebuild its crisis-hit economy. Wickremesinghe told Nikkei’s Future of Asia forum on Thursday that Sri Lanka would look to join RCEP “with the aim…
Reuters – Crisis-stricken Sri Lanka should be able to conclude newly-launched debt restructuring talks by September, or November at the latest, its president said on Thursday, adding that the negotiations had made “remarkable” progress. Sri Lanka secured a $2.9 billion bailout from the International Monetary Fund in March but must set up a debt restructuring framework by…
SL is in an economic crisis. Many say it’s due to the shortsighted financial management since independence. Shortsighted public elected those who promised free delivery resulting in the crisis. The officials also should be held responsible for implementing policies looking only at the pension. The need of the hour is investments from outside. Some think…
Reuters – Japanese Prime Minister Fumio Kishida will meet Sri Lanka’s president on Thursday as the South Asian nation looks to bolster efforts to restructure its debt and repair an economy deeply scarred by a severe financial crisis. Kishida’s meeting with President Ranil Wickremesinghe comes days after the International Monetary Fund (IMF) called for achieving…
NEW YORK, May 24 (Reuters) – Meta Platforms Inc (META.O) started carrying out the last batch of a three-part round of layoffs on Wednesday, according to a source familiar with the matter, as part of a plan announced in March to eliminate 10,000 roles. Meta in March became the first Big Tech company to announce a second round…
Financial Year 2022/23 – Full Year Performance Chief Executive Officer’s Review Demonstrating resilience in the face of one of the most turbulent years, Hemas Holdings PLC, posted a revenue of Rs. 113.9 billion for the financial year 2022/23, a growth of 44.5 per cent over last year. The high input costs, foreign currency limitations coupled…
Marking a major step in one of South Asia’s most transformative development projects, Singapore-owned omnichannel retailer, One World Duty Free, and Port City Colombo have signed two agreements to operate Sri Lanka’s first-ever downtown duty-free store. One World Duty Free (ODF) and the Colombo Port City Economic Commission (Commission) have taken a pivotal step in…
Rakhil Fernando, Managing Director of Daraz Sri Lanka, has been appointed as Chief Corporate Affairs Officer of the Daraz Group, headquartered in Singapore, with effect from 1 June 2023. This announcement follows the successful completion of Rakhil’s tenure as the Managing Director of Daraz Sri Lanka. Throughout his leadership, the organisation saw tremendous expansion, and…
By The Joint Apparel Association Forum On March 20th 2023, the International Monetary Fund’s (IMF) Executive Board approved a four-year Extended Fund Facility (EFF) arrangement for Sri Lanka amounting to USD 2.9 billion. This was post the agreements with China and India – Sri Lanka’s biggest lenders for additional financial assistance and the first steps…
Two thousand two hundred passengers arrived at the Hambantota International Port (HIP) Thursday (18), on board cruise liner, Mein Schiff 5. The vessel is on a 60 day cruise from Hong Kong to Heraklion in Greece, visiting several ports in Japan, South Korea, Taiwan, Vietnam, Thailand, Singapore, Sri Lanka, Oman, Jordan and Egypt in between. The…
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