Air France resumes operations between Colombo – Paris as of 4 November 2022, with thrice weekly flights. Air France operations on this route are seasonal and as per the winter schedule for 2022-23. Customers from Colombo can further connect to the global network of Air France comprising of over 170 destinations, via the convenient hub…
The Sri Lanka High Commission in Maldives and the Sri Lanka Export Development Board (EDB) jointly organized a virtual meeting for Sri Lankan Construction Services Companies to interact with the SME & Entrepreneur Federation of Maldives (SEFM), Maldives Contractors’ Association and to learn about the market entry possibilities, procedures and regulations applicable to foreign investments,…
The Canadian business community accorded to support the development of Sri Lanka’s economy to overcome the economic crisis. This was accorded at the meeting held Thursday (Nov. 03), between Hon. Mahinda Yapa Abeywardana, Speaker of Parliament and group of Canadian business leaders in Parliament. The Canadian business community said that they hope to increase the…
(Reuters) – Global ratings agency S&P Global on Thursday cut Sri Lanka’s bonds by two notches to ‘D’ from ‘CC’, pushing it deeper into junk territory, following missed interest payments due on Sept. 14 and Sept. 28, 2022. “We do not expect the government to make payments on the ISBs within 30 calendar days after their…
The Sri Lankan authorities held a virtual meeting with Sri Lanka’s official creditors today (3 November 2022). The meeting was chaired by the Secretary to the Treasury and the Ministry of Finance, Mr. K M Mahinda Siriwardana, and the Governor of the Central Bank of Sri Lanka, Dr. P. Nandalal Weerasinghe. Sri Lanka remains fully…
The Extraordinary Gazette Notification 2302/24 dated 20th October 2022 amended the Licensing of Shipping Agents, Freight Forwarders, Non-vessel Operating Common Carriers and Container Operators Act No 10 of 1972. The amendments include a change in the existing structure of charges with maximum delivery order fees revised upwards for full container load and less than container…
Expanding its FAM Tour campaigns towards the Middle Eastern Region, Sri Lanka Tourism Promotion Bureau, in collaboration with the Sri Lanka Embassy in Egypt organized a familiarization tour for 8 Egyptian Travel agents from 20th to 26th October 2022. They were highly fascinated with their experience in Sri Lanka along with its Scenic Beauty, Cultural…
Q2 revenue up by 95% to Rs 24.8 billion Net profit up 145% to Rs 2.3 billion for 6 months A doubling of synthetic fabric volumes, higher selling prices and the impacts of the depreciation of the Rupee have generated strong growth for Teejay Lanka PLC, enabling Sri Lanka’s first multinational textile producer to close…
Fitch Ratings – APAC corporates’ notable rise in bond buybacks since 2H22 highlights the trend of embarking increasingly on opportunistic tender offers to reduce interest expenses and improve balance sheets as rates rise, says Fitch Ratings. Eighteen APAC corporates have announced tender offers to partially repurchase their combined 46 outstanding bonds so far during 2H22….
A CSR Initiative by Sri Lanka – Canada Business Council of Ceylon Chamber of Commerce The Sri Lanka Canada Business Council of Ceylon Chamber of Commerce joined hands with the Rotary Club of Colombo Metropolitan to sponsor children for heart surgery. With more than 3,000 children born with Congenital Heart Disease (CHD) in Sri Lanka…
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