It has been decided by the members of the committee on Public Finance that a series of programs should be organized under the initiative of the committee to inform all members of parliament about the nature of the current economic crisis. The decision was taken when the Committee on Public Finance met in Parliament Tuesday…
A large number of visitors gathered at the Sri Lanka stand at the World Food Istanbul Trade Fair held from 1 to 4 September 2022 in Istanbul, Türkiye for a taste of Pure Ceylon tea. Five companies represented Sri Lanka at the fair which included Ceylon Tea Land (Pvt), Ltd Ranfer Group, Damro Exports (Pvt) Ltd, Heritage Teas (Pvt)…
(Bloomberg) – Sri Lankan dollar bonds fell as investors weighed the implications of Zambia’s debt restructuring plan on the crisis-hit island nation’s own negotiations with creditors as China is an important lender to both countries. The 7.55% 2030 dollar bond was indicated 1.3 cents lower at 29.5 cents on the dollar, set for the biggest…
The United States will support the restructuring of Sri Lanka’s debt and extend financing assurances to the crisis-hit island nation, the U.S. Treasury Secretary Janet Yellen said in a letter seen by Reuters. Battling its way out of the worst economic crisis in more than seven decades, Sri Lanka reached a preliminary deal last week…
In a radically changed post-pandemic world, characterised by geopolitics, shifting consumer preferences, accelerated digitisation and ESG mandates, the need for speed and agility is heightened, making organic change seem too slow at times. As a result, traditional options of ‘build, buy or borrow’ have tipped sharply towards ‘buy’, fuelling M&A activity and ‘borrow’, where companies…
Coca-Cola was honoured to host the US Ambassador to Sri Lanka, H.E Julie J. Chung at the Coca-Cola Beverages factory in Biyagama recently. The Ambassador observed the Coca-Cola operations in Sri Lanka and commended the positive impact the brand has had on the economy and local community for the last 61 years. The Ambassador was…
31st Annual General Meeting The Sri Lanka – Canada Business Council The 31st Annual General Meeting of the Sri Lanka – Canada Business Council (SLCBC) of the Ceylon Chamber of Commerce was held recently. Mr. Daniel Bood, Counsellor for Political & Trade at the High Commission of Canada graced the occasion as the Chief Guest….
Summary Sri Lanka’s provisional IMF deal hinges on certain measures China, India and Japan as creditors a rare mix Questions over whether country will need to bail out banks International asset managers hold almost $20 billion of bonds Reuters – Sri Lanka’s International Monetary Fundbailout plan could be a turning point in its worst economic…
By Prof. Samitha Hettige SL’s super power neighbor India recently commissioned its first aircraft carrier Vikrant at a cost of 3 billion USD in Kerala. At the commissioning Indian Prime Minister has indicated that Indo Pacific region is a defense priority for India (Ref. Indian sources). Although analysts question the need for such carriers in…
Although the Social Security Contribution Levy Bill was supposed to be passed without a debate in Parliament today (06), it was decided to hold the said debate on the coming Thursday as Members of Parliament indicated that a debate was necessary. This decision was arrived at because the leader of the Jathika Janabalawegaya Hon. Anura…
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