A letter by the Joint Chambers addressed to H E President Gotabaya Rajapakse, requesting action to be initiated to repeal the 20th amendment. 19 April 2022 His Excellency Gotabaya Rajapakse President of the Democratic Socialist Republic of Sri Lanka Presidential Secretariat Colombo 1. Your Excellency, Current Economic and Political Situation The Private Sector, as represented…
Reuters – Sri Lanka has requested the International Monetary Fund (IMF) for rapid financial assistance and the global lender could consider it after initial reluctance, an aide to thecountry’s finance minister said on Tuesday. Protests have erupted in the island nation as it battles a devastating financial crisis brought by the effects of COVID-19, mismanaged…
bp and Neste commit to supply DHL Express with more than 800 million liters of Sustainable Aviation Fuel until 2026 CO2 savings on a lifecycle basis estimated to be equivalent to annual greenhouse gas emissions of approx. 400,000 passenger cars Landmark deals mark major step towards Deutsche Post DHL Group’s goal of using 30 percent…
The Embassy of Sri Lanka in Iran organized a tourism promotion partnership event-2022 at its Chancery premises in Tehran on 06 April 2022 with the support of the Sri Lanka Tourism Promotion Bureau and Associations of Air Transport and Tourist Agencies of Iran. Around 75 guests, mainly travel agents & tour operators, airline representatives, journalists, academics,…
Moody’s Investors Service (“Moody’s”) has downgraded the Government of Sri Lanka’s long-term foreign currency issuer and senior unsecured debt ratings to Ca from Caa2. The outlook is stable. The decision to downgrade the ratings is driven by the authorities’ announcement of debt servicing suspension [1] on external public debt repayments, which will lead to a…
SriLankan Airlines records its first profitable fourth quarter (Q4) since 2006 for the financial year that ended on 31 March 2022 with a group net profit of USD 1.7 million despite pandemic challenges. The airline was able to achieve this financial turnaround through various measures in its 2021-22 financial year including scaling down staff costs…
Temporarily Closure of the Colombo Stock Exchange (CSE) Colombo Stock Brokers Association (CSBA) defends the decision by the Securities and Exchange Commission of Sri Lanka (SEC) to temporarily close down the Colombo Stock Exchange (CSE) for 5 business day as a warranted measure, considering the prevalent economic crisis in the country as well as the…
COLOMBO, April 18 (Reuters) – Sri Lanka’s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation of 22 million people struggles with prolonged power cuts and a shortage of essentials, including fuel and medicines. President Gotabaya Rajapaksa’s government has come under growing pressure for its mishandling of the economy,…
At a briefing at the Ministry of Foreign Affairs on 12 April 2022, Minister of Foreign Affairs Professor G. L. Peiris, Minister of Finance, M. U. M. Ali Sabry PC and the Governor of the Central Bank, Dr. Nandalal Weerasinghe informed donor nations of the current economic situation in the country. The Diplomatic community was…
The payment industry in Sri Lanka is currently undergoing a rapid change due to the introduction of new payment instruments, methods and processes. Along with the traditional payment methods, these new payment processes have completely redefined the customer experience and enabled businesses and consumers to conduct their financial transactions safely and efficiently. In this backdrop,…
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