While external debt restructuring remains a top priority for the Sri Lankan government, domestic debt in the form of Government securities and Sri Lanka Development Bonds will not be restructured, Central Bank Governor Dr. Nandalal Weerasinghe announced Thursday (April 28, 2022). Dr. Weerasinghe made these comments while addressing a meeting of the Committee of the…
Secures the title of Most Loved Brand in both business categories Life & General insurance by Brand Finance for the 5th consecutive year Secures the Most Valuable General Insurance Brand in the country by Brand Finance for the 5th consecutive year Secures the Number 1 position in the General Insurance Category on the country The…
The Embassy of Sri Lanka in Beijing in collaboration with the China Sri Lanka Association for Trade and Economic Cooperation (CSLATE) and the Beijing Wanhongtai Technology Group Co., Ltd. Company opened the first Sri Lanka Tea Shop and Cultural Centre in Beijing on 20 April 2022 in the prestigious Xiu Shui Street, Chaoyang District. The…
The Rajapaksa family is racing to secure IMF funds as protesters seek to remove it from power. By Kai Schultz Bloomberg – Ahead of the November 2019 election, Sri Lankan presidential challenger Gotabaya Rajapaksa proposed sweeping tax cuts so reckless the incumbent government thought it must be a campaign gimmick. The finance minister at the…
Renewable Energy Associations that include Small Hydro, Wind, Solar, and Biomass power developers, and also Solar Industries Association of Sri Lanka, jointly announced at a press conference held recently that the national grid of Sri Lanka risks losing 1250.9 Megawatts (MW) of power generated by renewable energy developers, as the Ceylon Electricity Board (CEB) has…
Swathi Moorthy HCL Tech employs 2,000 people in the region. Last month, the company faced a hiccup when power went off for 13 hours. With credit lines from the Indian government, and supplies that are coming in, power cuts have now been reduced to three to four hours. In the meantime, the company has adjusted…
Today the European Union (EU) handed over the Geographical Indication (GI) certification to Ceylon Cinnamon, Sri Lanka’s first GI-certified product. An official ceremony took place between the EU Delegation to Sri Lanka and the Sri Lanka Export Development Board (EDB). The GI application was made by Sri Lanka Export Development Board (EDB) and supported by…
Bloomberg – Sri Lanka stocks rallied, marking their first day of gains since April 5, after the World Bank said it will allocate funds to ease the nation’s economic crisis. The Colombo All-Share Index ended 6.8% higher, after losing about 15% in the past two days. The bluechip S&P Sri Lanka 20 Index surged 14%….
The John De Silva Memorial Theatre, a Colombo landmark built in 1974 as a tribute to the playwright credited with the rise of Sinhala historical drama at the turn of the 20th century, is to be given a new lease of life via a comprehensive refurbishment entrusted to Sierra Construction Limited, a pioneer in its…
The Embassy of Sri Lanka in Brussels conducted a workshop titled “COCONUT WONDER – Truly Sri Lankan” to promote export of Sri Lankan coconut kernel products to Belgium, on 21 April 2022. The Sri Lanka Export Development Board (EDB), Ceylon Chamber of Commerce and Federation Chamber of Commerce and Industries coordinated the participation of the exporters of…
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