The above comes in the wake of an evaluation of current performance and status of issues raised in the Auditor General’s report from 2020 & 2021. The Chairman, Hon. Professor Ranjith Bandara attributed the lack of financial accountability and the execution of past directives due to the non -participation of members of the Audit and…
FitsAir, Sri Lanka’s first privately owned international airline, increases the frequency of its flights to and from Colombo to Dubai to daily. The daily services between the two destinations began on 26th March 2023. The decision to increase the frequency of flights from 4 times a week to daily comes as a response to requests…
Should the litigation process to claim compensation of USD 6.2 billion related to the X-Press Pearl be in Singapore? Or in Sri Lanka? Sectoral Oversight Committee on Environment, Natural Resources & Sustainable Development to re-discuss with relevant parties Litigation process should be done within 58 days Sectoral Oversight Committee on Environment, Natural Resources & Sustainable…
Opposition MP Harsha de Silva, in response to the President’s speech on the IMF agreement, said that he was relieved that the government had finally obtained the approval of the IMF Board for the USD 3 billion facility. He commended the President for convincing his majority SLPP government on the IMF program who until recent…
Last week, the largest capacity crawler crane in Sri Lanka was unloaded at Hambantota International Port. The crane, with a 750-ton lifting capacity, will be initially used for Hiruras Wind Power Project in Mannar. The German built Liebherr brand crane was being used in Japan and has now been imported to Sri Lanka for civil…
Blue Tick: Elon Musk-owned Twitter has announced the removal of legacy blue ticks from April 1, 2023 and if someone wants the verified checkmark, they need to subscribe to Twitter Blue Outlook India – In a major development to the on-going Twitter Blue paid subscription saga, the Elon Musk-led social media platform has announced something…
Sri Lanka’s Export Performance in February 2023 Sri Lanka’s merchandise exports decreased by 8.06 % to US$ 1,005.2 Million in February 2023 compared to February 2022 as per the data released by the Sri Lanka Customs. However, it is a 5.62% increase when compared to February 2021. Major Exports in February 2023 Export earnings from…
Channel News Asia – Holders of Sri Lanka’s international sovereign bonds face a 20 per cent principal haircut in the country’s debt restructuring as well as maturity extensions and a reduction in coupons, according to a Barclays report. Investors’ focus has shifted to the restructuring of Sri Lanka’s $13.4 billion sovereign dollar bonds after Colombo…
The adventure trail ‘Raid Amazones 2023’ kicked off in Kandy, yesterday, 22 March. Nearly 250 female athletes from France are participating in the trail in Sri Lanka’s hill capital. Raid Amazones is the world’s only itinerant women’s adventure race and SriLankan Airlines is the Presenting Partner of the event. The French group participated in a…
The Government of Sri Lanka (GOSL) has embarked on a process of implementing structural reforms to accelerate growth so that the country can emerge out of the current economic crisis. The State-Owned Enterprise (SOE) sector, which for many years has been a severe burden on the Sri Lankan economy, has been identified for reforms on…
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