Credit rating lowered two levels to Ca, on par with Sri Lanka ‘Substantial losses’ likely for private bondholders: Moody’s Bloomberg – Moody’s Investors Service downgraded Ghana deeper into junk territory on the likelihood that private creditors will incur steep losses during the government’s planned debt restructuring. The country’s credit rating was slashed by two levels…
Hon. (Dr.) Ramesh Pathirana stated that attention has been directed towards taking over underutilized land owned by large-scale plantation companies and the proposal regarding the said has been submitted to the cabinet for approval. He mentioned that legal measures will be taken in this regard in the future. This was stated at the Ministerial Consultative…
Business Sentiment – A Less Mercurial Barometer The implications of Budget 2023 – and a reassessment of cash flows, assets and liabilities – will occupy the minds of corporates as the new tax rates and policies kick in. But there’s been a sense of optimism in recent times even as people acknowledge and realise that…
LONDON/JOHANNESBURG, Nov 30 (Reuters) – Sri Lanka owed Chinese lenders $7.4 billion – nearly a fifth of its public external debt – by the end of last year, calculations by the China Africa Research Initiative (CARI) published on Wednesday showed, an estimate higher than many others. The figure was above the “often-quoted 10 to 15…
The Embassy of Sri Lanka in Manila participated at the International Bazaar 2022 held on 20 November 2022 at the World Trade Center, Pasay City, Philippines. Together with the local distributors of renowned Ceylon tea brands Dilmah, Basilur, and George Steuarts, the Embassy organized a “Sri Lanka Pavilion” designed to showcase the country’s best features: Ceylon…
Fitch Group, a global leader in financial information services, is pleased to announce the expansion and relocation of its Singapore office – as part of its plans to further strengthen its business in the Asia-Pacific region (APAC). Fitch Group’s business units – Fitch Ratings (credit ratings, research and analysis), Fitch Solutions (data, research and analytics),…
‘Business as usual’ at Vistara until consolidation is completed by March 2024, says Tata Sons CEO The Hindu – Singapore Airlines will get a 25.1% stake in Air India and make an investment of ₹2,059 crore in the Tata-owned airline as part of an agreement to merge their joint venture Vistara with the larger Indian…
The most anticipated economic event of the year, the Sri Lanka Economic Summit 2022 will commence under the theme ‘Resetting from Turmoil to Opportunity’ on December 5th at the Shangri-La Hotel, Colombo. The Summit will be inaugurated by the Chief Guest President Ranil Wickremesinghe on December 5th. The Guest of Honour will be Mr. Martin…
As per data released by Sri Lanka Customs, the earnings from merchandise exports have exceeded USD 11 billion from January to October 2022, the Export Development Board (EDB) says. This is a growth of 9.33% in comparison to the same period in 2021. The earnings from merchandise exports in the first ten months of last…
LAUGFS Gas, one of the largest LP Gas suppliers in Sri Lanka is currently operating at maximum capacity, filling and distributing its LP Gas cylinders island-wide to restore the current market supply. In the recent past, the market supply was challenged due to several macro-environmental factors. By resolving most of the financial challenges created from…
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