In the wake of difficulties experienced by Sri Lanka, the Embassy of Italy in Colombo is glad to announce that the Republic of Italy will be granting an in-kind emergency contribution to Sri Lanka of around LKR 125 Mn (Euro 341,115) for the purchase of medicine and medical equipment. The contribution will be channeled through…
Reuters – Sri Lanka has begun discussions with China about refinancing its debt, a cabinet spokesman said on Tuesday, as Colombo struggles with its worst financial crisis in decades. “China has indicated their stance is that because they have lent to many countries around the world … they have suggested that they will refinance the…
Reuters – Sri Lanka must tighten monetary policy, raise tax and adopt flexible exchange rates to address its debt crisis, a senior International Monetary Fund (IMF) official said on Tuesday. The country of 22 million people has requested loans from the IMF as it struggles to pay for imports amid crushing debt and a sharp…
Reuters – S&P Global Ratings cut Sri Lanka’s rating as an issuer of foreign currency debt to ‘selective default’ after the South Asian country missed sovereign bond interest payments, S&P said on Monday. The bonds which had missed payments, maturing in 2023 and 2028, were cut to ‘default’ and the overall rating could be further…
The Chairman of the Committee on Public Enterprises Hon. (Prof.) Charitha Herath today (25) recommended to SriLankan Airlines to postpone the procurement process of leasing 21 aircraft for the period 2022-2025, for three months. Accordingly, in view of the prevailing economic situation, the entire process should be reviewed and it should be ascertained whether the…
The COPE took into account the delay in formulating a National Policy on Mineral Resources in Sri Lanka. The following was taken into discussion at the Committee on Public Enterprises held recently (21), chaired by Hon. Prof. Charitha Herath taking the Report of the Auditor General of the Geological Survey and Mines Bureau for the…
By TTG Asia – Radisson Hotel Group has signed a landmark agreement for three hotels and resorts in Sri Lanka with La Vie Hotels & Resorts, which will result in the launch of an upper-upscale Radisson Blu resort near Galle, and two upscale Radisson hotels in Colombo and Kandy. The three new properties will start to…
25 April 2022 Colombo; Serenity Group is aware of multiple stories that have been circulating on social media platforms regarding to its founders, operations and business profile. Country is clearly undergoing a tremendously challenging time, where its citizens are struggling to establish changes that will help the country overcome difficulties that were built on years…
The Silk Road Journal by Mahika Ming Hainan is China’s only tropical island located south of the mainland. It has many ancient Theravada Buddhist archaeological sites which attracts tourists from all over the world. Hainan also is famous due to the 108 meter Bodhisathva Guanyin statue (taller than the statue of Liberty in New York,…
The Colombo Stock Exchange (CSE) says that the market has been halted and will be closed for the rest of the day. This is due to the Standard & Poor’s Sri Lanka 20 (S&P SL20) index dropping over 10% from the previous close. Earlier, regular trading had been halted at the Colombo Stock Exchange (CSE)…
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