Port City Colombo (PCC) recently welcomed a delegation of senior representatives from the Thai-Sri Lanka Chamber of Commerce, the Sri Lanka-Thailand Business Council and the Embassy of Iran. The objective of the visit was to explore potential opportunities for foreign direct investment within the project. Delegation was led by Mr. Akram Saroof – President of…
COLOMBO, Jan 20 (Reuters) – India has told Sri Lanka it is committed to boost investment in its debt-ridden neighbour, to help pull the island nation from its worst economic crisis in seven decades, Foreign Minister Subrahmanyam Jaishankar said during a visit to Colombo. The country of 22 million has grappled with challenges over the…
The Ceylon Motor Traders Association (CMTA) together with the Association of International Marketing Graduates in Sri Lanka (AIMG) recently organized a joint forum titled “Road to Electrification” at Jetwing Colombo, which delved into the future of the EV market in Sri Lanka. The joint forum was participated by over 100 automotive industry experts, marketers, corporate…
Fitch Ratings has downgraded the National Long-Term Ratings of five Sri Lankan finance and leasing companies (FLCs) after the recent sovereign downgrade and recalibration of the agency’s Sri Lankan National Rating scale. The FLCs’ ratings remain on Rating Watch Negative (RWN). The downgrades follow similar action on 10 Sri Lankan banks. For details, see “Fitch Downgrades…
United Arab Emirates (UAE) ruling family member HRH Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum and his team visited the Board of Investment of Sri Lanka(BOI) recently during their two-day visit to Sri Lanka. The delegation had cordial discussions with BOI Chairman Dinesh Weerakkody, Director General Renuka M Weerakone, and other top officials where…
In a very challenging year of poor supply, turbulent domestic working environment, compounded by multiple international challenges; Sri Lanka exported 250.19 Mn Kg to 148 countries. 52% of tea exports were absorbed by destinations in North Africa and The Middle East, Russia/CIS 17%, UK/Europe 10%, Asia 9%, North and South America 6%, Japan/ Australasia 4%…
JAAF raises objection to the Government’s plans to withdraw Gazette No 2041/10 of the Licensing of Shipping Agents Act which protects importers and exporters from anti-competitive practices Market-friendly legislation should not be withdrawn under any circumstances unless the ministry wishes to make Sri Lankan exports non-competitive and increase the cost of living solely based on…
NEW DELHI, (Reuters) – The number of children grappling with various forms of undernutrition in Sri Lanka increased for the first time in at least six years in 2022, a government report and data from the health ministry indicate. The island nation of 22 million people is struggling with soaring prices, including of food, largely…
The Investor Facilitation Coordinating Committee Meeting chaired by Investment Promotion State Minister Dilum Amunugama was recently held at the Investor Facilitation Centre (IFC), to review and discuss the issues currently faced by investors with respect to seeking approvals from relevant line agencies for investment projects. During the meeting, the issues faced by four BOI companies…
Reuters – India has told the International Monetary Fund that it strongly supports Sri Lanka’s debt restructuring plan as the island nation seeks a $2.9 billion loan from the global lender, according to a letter seen by Reuters. “We hereby confirm our strong support for Sri Lanka’s prospective (loan) program and commit to supporting Sri…
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