SriLankan Airlines has decided to cease flights between Colombo and Bahrain operated under flight numbers UL 201 and UL 202 with effect from 12 May 2022. In a media notice, the national carrier clarified that it is only ceasing the aforementioned flights and that operations to other destinations within its online network will continue without…
The Central Bank’s continued spot examinations at the places of Authorized Money Changers have revealed that the following Money Changers have transacted at rates beyond the rates offered to them by Licensed Banks, thereby violating the Directions issued to them under the provisions of Foreign Exchange Act No. 12 of 2017. i.Swiss Money Exchange (Pvt)…
We repeat: a resilient biz sector shows no signs of wavering amid multiple crises – not yet Whether you view the devaluation of the Sri Lankan Rupee, the prospect of some form of debt restructuring and consequently, an easing of the economic restrictions that have threatened to bring Sri Lanka Inc. to a grinding halt……
Strong demand, limited quantities and depreciation of the Rupee helped a cross section of teas to achieve a level of price in Rupees previously not seen at the Public Auction. Dickwella Estate Dickwella Estate Hali Ela achieved two all-time records in the Uva Medium category. At this week’s sale an Invoice of FBOPF1 was sold…
Reuters – The U.S. Export-Import Bank’s board of directors on Thursday voted to formalize the bank’s withdrawal from any further business in Russia and approved financing and guarantee deals worth up to $381 million for Iraq, Sri Lanka and Albania. The U.S. government export credit agency said its board also voted to notify Congress of…
WASHINGTON: The International Monetary Fund will initiate discussions with Sri Lankan authorities on a possible loan program in coming days, IMF spokesperson Gerry Rice said on Thursday (Mar 31), as the Asian country seeks to stave off a severe economic crisis. Rice said the discussions would continue during the visit of Sri Lankan Finance Minister…
The Joint Apparel Association Forum (JAAF), the apex body of Sri Lanka’s apparel industry, reiterated concerns over the industry’s ability to continue its operations due to the prevailing fuel and power crisis. “The fuel shortage is having a massive impact on our day-to-day production. We are unable to use our generators during power outages because…
The Ceylon Chamber of Commerce notes with serious concern the continuous deterioration in the fuel and electricity availability in the country, hampering daily operations of businesses and activities of the general public. The Chamber believes there is a need to maintain a sufficient stock of fuel to balance both transport and power generation needs. Further,…
Considering the complaints received from general public that Prasanna Money Exchange (Pvt) Ltd is offering higher exchange rates, the Department of Foreign Exchange of the Central Bank conducted an on-site investigation at the Prasanna Money Exchange (Pvt) Ltd on 30.03.2022. As per the investigation, it was observed that the Prasanna Money Exchange (Pvt) Ltd had…
DHAKA, (Xinhua) – Sri Lanka has offered greater use of the Colombo Port by Bangladesh for the country’s export and import trade, according to the Bangladeshi foreign ministry. Sri Lankan President Gotabaya Rajapaksa made the offer on Wednesday when meeting with Bangladeshi Foreign Minister AK Abdul Momen in Colombo. Momen is currently in Sri Lanka…
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