State Minister of Technology Hon. Kanaka Herath said at the Ministerial Consultative Committee on Technology held recently (Nov. 30) that a proposal will be submitted regarding the reactivation of Vidatha Technology centers across the island under the Ministry of Technology. State Minister said so in response to the request made by Member of Parliament Hon….
The Palm Oil Industry Association of Sri Lanka (POIASL) held its 4th AGM on the 24th of November 2022, at the JAIC Hilton in Colombo. High Commissioner of Malaysia to Sri Lanka and Maldives – His Excellency Dato Tan Yang Thai, and the Ambassador of the Republic of Indonesia, Her Excellency Dewi Gustina Tobing, stakeholders,…
Hindustan Times –Putting equal onus on rich global north and developing global south, the Paris Club creditor nations are proposing a 10-year moratorium on Sri Lankan debt and another 15 years of debt restructuring as a formula to resolve the current financial crisis in the Island nation. While the Paris Club is still to formally…
Regulatory Delays Creating Uncertainty Around Port City The Port City Colombo Special Economic Zone (PCC SEZ) is a game changer, especially for financial services, trade, IT/BPM, tourism, retail and many other sectors. This is because of its special status as an SEZ, governed by the Port City Economic Commission. However, although the Port City Economic…
– Chairman of the National Council Sub-Committee on Economic Stabilization Patali Champika Ranawaka Chairperson of National Council sub-committee on identifying short- and medium-term programs related to economic stabilization, Hon. Patali Champika Ranawaka said that the proposals related to earning the amount of 3500 billion rupees, which is the expected government revenue next year, will be…
Cinnamon Air, Sri Lanka’s premier domestic airline, has resumed daily scheduled flights after a temporary suspension during the COVID-19 pandemic. The airline is the only domestic carrier in Sri Lanka offering daily scheduled flights and the only such airline to operate flights from the Bandaranaike International Airport (BIA) with a dedicated passenger terminal and aircraft…
TOKYO, Dec 2 (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva flagged rising inflationary pressures and China’s economic slowdown as risks to Asia’s economic outlook, calling on policymakers to rebuild their buffers against future shocks. Asian Development Bank President Masatsugu Asakawa also urged Asia’s policymakers to be vigilant to signs of any abrupt capital…
Fitch Ratings – Hong Kong – 01 Dec 2022: Fitch Ratings has downgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’, and has affirmed the Long-Term Foreign-Currency IDR at ‘RD’ (Restricted Default). Fitch typically does not assign Outlooks to ratings of ‘CCC+’ or below. Fitch has also removed the Long-Term Local-Currency…
Upholds five key policy reforms proposed by SLAEA as a sustainable path to achieving 2025 USD 8 Bn. target Supports government in key reforms aiding economic recovery and growth With the apparel industry aiming towards USD 8 billion in export revenue by 2025, Chairman of the Sri Lanka Apparel Exporters Association (SLAEA) Indika Liyanahewage highlighted…
The Commercial Bank of Ceylon has announced that its Rs 10 billion debenture issue closed within hours of opening after it was oversubscribed on opening day, Thursday 1st December 2022, in a noteworthy vote of confidence from investors. The debentures to the value of Rs 10 billion are being issued to further strengthen the Tier…
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