Reuters – Sri Lanka’s Finance Minister Basil Rajapaksa signed a $1 billion credit line with India on Thursday to help ease crippling shortages of essential items, including fuel, food and medicine, officials said. “India stands with Sri Lanka,” Indian Foreign Minister S. Jaishankar said in a tweet. Sri Lanka’s foreign exchange reserves have fallen 70%…
BBC – Motoring groups have called for fuel prices to fall as the cost of crude oil fell to its lowest level for two weeks. The price of Brent crude – the global benchmark for prices – dropped below $100 a barrel for the first time since the start of March. The RAC has said…
The Sri Lanka Embassy in the Kingdom of Thailand in collaboration with the Export Development Board, Spice and Allied Product Marketing Board and the National Craft Council of Sri Lanka made arrangements for the very first time, to sell Sri Lankan products at the 55th Diplomatic Red Cross Bazaar, to facilitate and promote Sri Lankan…
High Commissioner of Sri Lanka to India Milinda Moragoda met with the Minister of Petroleum & Natural Gas and Housing and Urban Affairs of India Shri Hardeep Singh Puri, 10 March at the Ministry of Urban Affairs in New Delhi. High Commissioner Moragoda thanked Minister Puri for the assistance that India has provided to Sri Lanka as…
This week U.S. Ambassador Julie Chung visited Kandy to preside over events marking two milestones in the United States’ long-standing support to preserving Sri Lanka’s diverse cultural heritage. On March 14, Ambassador Chung and University of Peradeniya Vice Chancellor Professor M.D. Lamawansa held a closing ceremony for a U.S. Ambassadors Fund for Cultural Preservation (AFCP)…
Although Hambantota area where Mattala Rajapaksa International Airport is located, is a major tourist destination, only a few hotels are in operation at present. It has been observed that it is an advantageous situation to attract tourists by constructing 02 four-star class hotels adjoining the airport. Two (02) plots of land have been recognized as…
Government discussed plan with visiting IMF officials Monday Forex reserves shrinking ahead of $1 billion bond due in July Bloomberg – Sri Lanka is seeking financial support from the International Monetary Fund, reversing the government’s earlier resistance as efforts to bolster its foreign exchange reserves and manage looming debt payments have been complicated by…
Fintrex Finance Limited recently completed a rights issue of 600 Million from existing investors to fund future growth. Shareholders invested through Bluestone1, the sole owner of Fintrex Finance, in a transaction that was managed by Bluestone Capital Pvt Ltd . The Capital raise was led by HWIC ( Asia), a 100% owned entity of Fairfax…
A discussion was held between the senior representatives of the Australia High Commission in Sri Lanka and the Sri Lanka Export Development Board (EDB) on 2nd March to share ideas and strategies to promote Sri Lanka’s education sector among international students. During the meeting, EDB Chairman Suresh D de Mel pointed out that the government…
COLOMBO, March 14 (Reuters) – Sri Lanka’s finance minister held talks with a top International Monetary Fund (IMF) official on Monday, two sources said, as the island nation seeks help to deal with its plunging reserves, a sliding currency and surging inflation. IMF Asia and Pacific Department Director Changyong Rhee met Finance Minister Basil Rajapaksa…
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