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…
Earnings from exports increased in July 2022, while import expenditure declined for the fifth consecutive month, on a year-on-year basis. The notable decline in import expenditure in July 2022 reflected the impact of overall moderation of activity amidst forex liquidity strains in the banking system, while the policy measures to curtail non-urgent import expenditure also…
Several Swedish and Sri Lankan partners came together last week to present Sri Lanka’s vibrant culture, cuisine, dance and destination at the ‘Sri Lanka Cultural Festival’ held in the Etnografiska Museum and Matamekka, Djurgårdsbrunnsvägen, Stockholm. The festival also portrayed the myriad facets of Sri Lanka’s arts, literature, heritage and history, creative industry, ayurveda and wellness,…
International apparel firms are doubling down on their investments in Sri Lanka and are expanding their production capacities, sending positive signals even in the midst of a historic economic meltdown. An internationally reputed producer of accessories for the global lingerie industry – Prym Group is a company with a rich legacy of close to 500…
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