The Investor Facilitation Coordinating Committee Meeting chaired by Investment Promotion State Minister Dilum Amunugama was recently held at the Investor Facilitation Centre (IFC), to review and discuss the issues currently faced by investors with respect to seeking approvals from relevant line agencies for investment projects. During the meeting, the issues faced by four BOI companies…
Reuters – India has told the International Monetary Fund that it strongly supports Sri Lanka’s debt restructuring plan as the island nation seeks a $2.9 billion loan from the global lender, according to a letter seen by Reuters. “We hereby confirm our strong support for Sri Lanka’s prospective (loan) program and commit to supporting Sri…
In support of the government’s ‘National Combined Mechanism for Food Security and Nutrition’, Fonterra will provide free milk powder to 70,000 low-income families. Joining the ‘National Combined Mechanism for Food Security and Nutrition’ programme, set up under the patronage of President Ranil Wickremesinghe, Fonterra Brands Lanka Company has donated milk powder worth Rs174 million to…
Fitch Ratings – Colombo/Sydney – 18 Jan 2023: Fitch Ratings has downgraded the National Insurer Financial Strength (IFS) Ratings of seven Sri Lankan insurers following the recent sovereign downgrade and recalibration of the agency’s Sri Lankan National Rating scale. The seven insurers’ ratings have been maintained on Rating Watch Negative (RWN). The recalibration is to…
Economic Times – India’s heavy commercial vehicle maker Ashok Leyland on Wednesday announced that it has bagged an order from the Sri Lankan Transport Board to supply 500 buses. The Sri Lanka Transport Board is a state owned single largest bus transport provider with 110 depots throughout the island nation and operates buses in city…
In December 2022, Purchasing Managers Indices indicated an expansion in Services activities and a continued setback in Manufacturing activities. Manufacturing PMI recorded an index value of 44.8 in December, indicating a continued setback in manufacturing activities. This setback was driven by subdued performance observed in all the sub-indices, except Suppliers’ Delivery Time. Services PMI returned…
New Delhi (CNN) – India will overtake China this year to become the world’s most populous country. The likelihood of India passing that major milestone within a few months shot up Tuesday, when China reported that its population shrank in 2022 for the first time in more than 60 years. This shift will have significant economic implications for…
Let’s join hands for a new political journey for the betterment of the people Rs. 30-40 billion allocated for medicines this year The 75th Independence Celebration is an investment for the future – Parliament tells parliament President Ranil Wickremesinghe invited the opposition to join hands through a new political system to provide relief to the people and…
COLOMBO, Jan 17 (Reuters) – India has told the International Monetary Fund (IMF) it will support Sri Lanka’s debt restructuring plan, a source with direct knowledge of the matter said, as the island nation races to secure a $2.9 billion bailout from the global lender. The country of 22 million people is facing its worst…
A delegation of investors from the United Arab Emirates, led by His Royal Highness Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, visited Port City Colombo on the 14th of January 2023, during a special visit to Sri Lanka for the purpose. Discussions were held between the members of the delegation, representatives from the Colombo…
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