The Information and Communication Technology Agency of Sri Lanka (ICTA) announced that it successfully concluded the inaugural ‘National Digital Consortia’, from 10th to 13th January 2022, in partnership with FITIS, SLASSCOM, BCS, and CSSL. The event featured 6 Global Tech Giants – Microsoft, Zoom, AWS, Google Cloud, Oracle, and Huawei. The event was a platform…
Basil Rajapaksa admits country is negotiating with overseas bondholders and may ask IMF for help Financial Times – Sri Lanka is negotiating debt relief with international bondholders and is weighing an approach to the IMF, as the country struggles with a foreign reserve crisis that has left it close to default. Basil Rajapaksa, finance minister,…
Sri Lanka’s merchandise exports increased by 16.71% to US$ 1,125.69 Million in December 2021 compared to December 2020 as per the data released by the Sri Lanka Customs. In parallel, 12.48% increase recorded in December 2021 compared to December 2019. Exports maintained above one billion dollars for the sixth consecutive month in December this year….
Group top-line Rs. 204.9 billion; up 254% YoY Group bottom-line Rs. 23 billion; a growth of 405% YoY Stellar performance by the Logistics Sector; increases PAT by 384% YoY Propelled by the stellar performance of its Logistics Sector, Expolanka Holdings PLC delivered its strongest ever quarterly financial performance during the three months ended 31st December…
Rainbow Clothing MD Bandula Fernando re-elected President of SLCGE Calls for greater adaption to align with increasingly popular e-commerce models Requests authorities to help facilitate land acquisition for expansion of factory capacity Small and medium scale apparel producers have called on the authorities to assist the sector in expanding Sri Lanka’s apparel production capacity, to…
State Minister of Regional Cooperation Tharaka Balasuriya, inaugurated the business networking and matchmaking session organized between the members of the Ceylon Chamber of Commerce and the Ukrainian Chamber of Commerce virtually on 20 January 2022. This event is a follow up event arranged subsequently to the State Minister’s visit to Ukraine last year. State Minister…
Deputy Chairman of MAS Sharad Amalean appointed Chairman of JAAF Calls for greater collaboration in enhancing bilateral trade and maintaining GSP+ Highlights the need for a solution to the forex crisis The Joint Apparel Association Forum of Sri Lanka (JAAF) called for intensive dialogue and greater stakeholder collaboration in order to arrive to resolve the…
Fitch Ratings has downgraded the Sri Lanka-based Lakdhanavi Limited’s National Long-Term Rating to ‘AA-(lka)’ from ‘AA+(lka)’. The Outlook is Stable. The downgrade reflects the risk of disruptions to Lakdhanavi’s domestic operations from a potential fuel shortage and heightened counterparty risk due to its exposure to payments from the Sri Lankan government (Long-Term Foreign-Currency Issuer Default…
The Australian Government-funded Market Development Facility (MDF), in partnership with the Sri Lankan coffee industry, brought together over 100 representatives from Sri Lanka’s coffee sector for the first-ever ‘Sri Lanka Coffee Festival.’ The festival, a celebration of Sri Lanka’s home-grown speciality coffee and re-emerging coffee culture, highlighted Australia’s ongoing support to the sector. The spotlight…
Standard Chartered Sri Lanka has arranged a Senior Secured Syndicated Term Loan Facility amounting to a total of USD 225 Million to Waterfront Properties (Private) Limited, acting as the Sole Mandated Lead Arranger and Bookrunner. The proceeds from the facility were used to refinance the existing USD 395 Million facility provided to Waterfront Properties (Private)…
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