(Reuters) – The International Monetary Fund said it will need “adequate assurances” from Sri Lanka’s creditors for a new program as it prepares a visit to Colombo later this month. The goal of the visit is to make progress on a staff-level agreement for an aid package “in the near term,” to help the island…
Abans’ partnership with Hyundai is to set up a complete knocked down vehicle assembly plant It would utilise locally manufactured components, developed and manufactured to Hyundai’s stringent quality standards The project will see the engagement of several local component manufacturers from the SME sector to meet the localization demands The project is presently awaiting approval…
The USA market has become extremely viable for Sri Lanka as US buyers are looking to diversify their main supply source. USA is the major export market for Sri Lanka apparel, with an export earnings of US$ 2.12 Bn in 2021 and accounting for 39% of the total apparel exports to the world and 69%…
A special market opening ceremony was organized by the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) under the patronage of Mr. Viraj Dayaratne, President’s Counsel, Chairman of the SEC, to mark the third phase of digitalization of the Sri Lankan Capital Market and to celebrate the 35th Anniversary…
Incorporated on the 30th of September in 1992 as a public company fully owned by the government of Sri Lanka, Kalubowitiyana Tea Factory Ltd (KTFL) operates four tea factories which directly contribute to the national grid. The main factory located in Kalubowitiyana produces the record setting low grown CTC tea while the other three factories…
By Dr. Roshan Rajadurai Inflation looms large over every Sri Lankan as the price of food and other essentials continues to skyrocket. At the center of this historic economic, political, social and humanitarian disaster are a series of deeply flawed and widely criticized policy decisions which have plunged the nation’s agriculture sector into complete disarray….
‘De-risking Sri Lankan Apparel’ – an event for apparel leadership across the sector took place on 18, August 2022 at Cinnamon Lakeside Colombo UK-based Digital Supply Chain Start-up – facilitated by The American Chamber of Commerce (AMCHAM) in Sri Lanka, have launched Resilient Sri Lanka a new industry forum on a mission to build resilience…
Sri Lanka faces its most severe crisis since independence Public anger stoked unprecedented mass protests in July Wickremesinghe ‘not aware’ of ex-president’s planned return Reuters – Sri Lanka will ask Japan to invite the Indian Ocean island’s main creditor nations, including China and India, to talks on bilateral debt restructuring as it seeks a way…
The Sri Lanka Association for Software Services Companies (SLASSCOM) recently appointed their new office bearers for 2022/23, at the Annual General Meeting held on the 2nd of August 2022. Ashique Ali was appointed as Chairman of SLASSCOM for the year 2022/ 2023. He is the Managing Director of Talliance, and is a veteran in the…
Reuters – Sri Lanka’s central bank held rates steady on Thursday and the governor sounded a note of cautious optimism about the damaged economy, saying foreign exchange reserves were on the mend and runaway inflation could peak as early as September. Still, the economy is likely to contract 8% this year and growth is not…
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