Bloomberg – The US government said a bondholder’s lawsuit against Sri Lanka over the country’s historic debt default should be put on hold. In a statement of interest filed Monday in New York federal court, the US backed the Sri Lankan government’s request to delay a lawsuit by Hamilton Reserve Bank Ltd. seeking full payment…
The Sri Lanka Retailers’ Association (SLRA) is set to host the retail industry’s premier knowledge event, the Sri Lanka Retail Forum 2023, commencing at 9.00 am on 19th October 2023, at the Shangri-La Hotel Colombo. Conducted this year under the theme “Sparking Success: Reigniting the Flame of Retail Growth”, the Forum will explore emerging trends…
Envisages Sri Lankan operation to double in size by 2026 to $200M Expresses confidence in Sri Lanka’s ability to deliver amidst economic headwinds Recognizes Sri Lanka’s workforce and innovative sustainable manufacturing processes as key strengths Earlier this year, global fashion infrastructure platform PDS Limited announced the unveiling of a centralized cutting plant in its Sri…
There’s been a welcome uptick in business sentiment amid multiple sensitivities The ongoing evaluation – the first such review by the IMF – of the four year Extended Fund Facility (EFF) programme, the new Inland Revenue (Amendment) Bill, continuing disinflation, the domestic debt optimisation (DDO) framework, and the fluctuating price of fuel are having whirlwind…
The Hambantota International Port Group (HIPG) has benchmarked a 500,000 ton volume in their bunkering business during the first eight months of 2023. The throughput which is five times in volume compared to 2022, is attributed to the port’s strategic partnership with Sinopec Fuel Oil Lanka Limited (SFOL), for the supply and trade of marine…
Watawala Plantations PLC (CSE: WATA), Sri Lanka’s leading diversified agribusiness company, marked a significant milestone in the country’s agricultural landscape with the opening of its state-of-the-art cinnamon processing centre in Udugama, Galle. Completed with an investment of LKR 90 million, this facility is one of the largest cinnamon processing centre’s in Sri Lanka, which operates…
The Faculty of Arts at the University of Colombo is set to inaugurate its Sustainable Tourism Unit (STU) on 2 October 2023 from 2:00 p.m. onwards at the Senate Hall, College House; marking a significant milestone for Sri Lanka’s tourism industry. Aligned with the United Nations’ 2030 Agenda for Sustainable Development, the establishment of the…
Recognising the contribution to supporting trade in Asia and the Pacific HNB and Standard Chartered Bank were awarded top honours, receiving the coveted ‘Best Trade Deal of the Year’ award for Issuing Bank and Confirming Bank, respectively, at the recent Trade and Supply Chain Finance Programme (TSCFP) Awards organised by the Asian Development Bank (ADB)….
A pioneering Sri Lankan tech consortium has launched an innovative platform, offering the Government of Mozambique access to USD 300 million in donor funding. This revolutionary system marks a significant advancement in donor funding management, merging the expertise of 3W Consulting (Pvt) Ltd, Overdime Technologies and technology developed by Adventa Holdings (Pvt) Ltd. Designed to…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) decreased to 1.3% in September 2023 from 4.0% in August 2023. The decline in the headline inflation is mostly in line with the projections envisaged by the Central Bank of Sri Lanka (CBSL) in July 2023. The Food deflation (Y-o-Y) continued for the third consecutive…
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