The Chairman of the Committee on Public Enterprises Hon. (Prof.) Charitha Herath today (25) recommended to SriLankan Airlines to postpone the procurement process of leasing 21 aircraft for the period 2022-2025, for three months. Accordingly, in view of the prevailing economic situation, the entire process should be reviewed and it should be ascertained whether the…
The COPE took into account the delay in formulating a National Policy on Mineral Resources in Sri Lanka. The following was taken into discussion at the Committee on Public Enterprises held recently (21), chaired by Hon. Prof. Charitha Herath taking the Report of the Auditor General of the Geological Survey and Mines Bureau for the…
By TTG Asia – Radisson Hotel Group has signed a landmark agreement for three hotels and resorts in Sri Lanka with La Vie Hotels & Resorts, which will result in the launch of an upper-upscale Radisson Blu resort near Galle, and two upscale Radisson hotels in Colombo and Kandy. The three new properties will start to…
25 April 2022 Colombo; Serenity Group is aware of multiple stories that have been circulating on social media platforms regarding to its founders, operations and business profile. Country is clearly undergoing a tremendously challenging time, where its citizens are struggling to establish changes that will help the country overcome difficulties that were built on years…
The Silk Road Journal by Mahika Ming Hainan is China’s only tropical island located south of the mainland. It has many ancient Theravada Buddhist archaeological sites which attracts tourists from all over the world. Hainan also is famous due to the 108 meter Bodhisathva Guanyin statue (taller than the statue of Liberty in New York,…
The Colombo Stock Exchange (CSE) says that the market has been halted and will be closed for the rest of the day. This is due to the Standard & Poor’s Sri Lanka 20 (S&P SL20) index dropping over 10% from the previous close. Earlier, regular trading had been halted at the Colombo Stock Exchange (CSE)…
Washington, DC: During the 2022 IMF and World Bank Spring Meetings in Washington, D.C., IMF Managing Director Kristalina Georgieva and other senior members of IMF management met with a Sri Lankan delegation, led by Finance Minister Ali Sabry and Central Bank of Sri Lanka Governor Nandalal Weerasinghe, and discussed policy actions to address economic challenges. The…
Bloomberg – China must be treated just like any other creditor once talks begin to restructure Sri Lanka’s debt, India’s Finance Minister Nirmala Sitharaman said she told the International Monetary Fund and World Bank. “All creditors must be treated equally and with transparency,” Sitharaman said in an interview in Washington Friday. “I’ve emphasized that point in…
Fitch Ratings has placed the National Insurer Financial Strength (IFS) Ratings of seven Sri Lankan insurers on Rating Watch Negative (RWN). The insurers are: -National Insurance Trust Fund Board -HNB Assurance PLC -HNB General Insurance Limited -People’s Insurance PLC -Continental Insurance Lanka Limited -Co-operative Insurance Company Limited -Sanasa General Insurance Company Limited Fitch has also…
Fitch Ratings has downgraded Sri Lanka Insurance Corporation Limited’s (SLIC) Insurer Financial Strength (IFS) Rating to ‘CC’, from ‘CCC+’, and has placed the rating on Rating Watch Negative (RWN). SLIC’s National IFS Rating of ‘AA(lka)’ has also been placed on RWN. Fitch has also taken rating action on seven other Sri Lankan insurers; please see Fitch…
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