As part of its continued drive to ensure customers ‘fly better’, Emirates has selected the new Thales’ AVANT Up system for its incoming fleet of Airbus A350 aircraft, scheduled for delivery in 2024. The airline’s investment of over US$ 350 million will see its 50-strong fleet of A350s equipped with next-generation inflight entertainment solutions that…
USD 203 Million Financial Assistance from the Asian Development Bank and Japan Fund for Prosperous and Resilient Asia and the Pacific (JFPR) for Implementation of the Food Security and Livelihood Recovery Emergency Assistance Project The Government of Sri Lanka is planning to borrow USD 200 million from the Asian Development Bank (ADB) to finance the…
Reuters – India banned exports of broken rice and imposed a 20% duty on exports of various grades of rice on Thursday as the world’s biggest exporter of the grain tries to augment supplies and calm local prices after below-average monsoon rainfall curtailed planting. India exports rice to more than 150 countries, and any reduction…
E. B. Creasy & Co. PLC has declared an interim dividend of Rs. 1.00 per share, paying out Rs. 253.5 Million from the distributable profits of the Current Financial Year. In the previous financial year, the Company paid a total dividend of Rs. 358.3 Million amounting to a dividend of Rs. 1.50 per share maintaining…
(Bloomberg) – Holders of defaulted Sri Lankan bonds are keeping one eye on the South Asian nation’s biggest creditors and the other on an African debt deal for clues as to how the restructuring might play out. A preliminary $2.9 billion loan deal with the International Monetary Fund announced last week wasn’t enough to spark…
Sri Lanka’s leading food and organic product exporters urged the nation’s premier product testing laboratories to enhance their levels of efficiency and effectiveness to enable them to provide a superior service to their overseas customers. These sentiments were aired at a meeting organized by the Sri Lanka Export Development Board (EDB) on 30th August, 2022,…
The Board of Directors of the Colombo Stock Exchange (CSE), with the consultation of the Securities and Exchange Commission of Sri Lanka (SEC) and the stockbroking industry have decided to extend the trading hours from next Thursday, 15th September 2022 as set out below: Pre-open session – 09.30 a.m to 10.00 a.m Open Auction –…
UNDP-led Individual facility to provide crisis relief support to vulnerable communities in Sri Lanka The United Nations Development Programme (UNDP) in Sri Lanka led Individual Crowdfunding Facility; ‘Rebuild Sri Lanka’ platform went live today providing the opportunity for global citizens to contribute to alleviating the impacts of the crisis in the country: www.undp.org/srilanka/donate. Sri Lanka…
(Reuters) – In August, China’s ambassador to Zambia took to the stage at a new conference centre in the capital Lusaka, which he called “a gift from the Chinese government to our Zambian friends”, to speak about lending to the debt-laden southern African country. China is the world’s largest bilateral lender but discloses little on lending conditions…
The Central Bank of Sri Lanka reports that Sri Lanka’s official reserve assets at the end of August 2022 were USD 1,716 million. This is a 5.6% drop from the official reserve asset figure of USD 1,817 million in July 2022. Meanwhile, foreign exchange reserves, the main component of these official reserve assets, decreased from…
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