Sri Lanka Chamber urges IMF to proceed
Sri Lanka’s Ceylon Chamber of Commerce has urged the International Monetary Fund to proceed with…
Sri Lanka Chamber urges IMF to proceed
Sri Lanka’s Ceylon Chamber of Commerce has urged the International Monetary Fund to proceed with re-structuring undertakings already given by India and the Paris Club and for China to give full assurances. India and the Paris Club has given specific assurances to re-structure debt along the financial envelope of an IMF program. China has given…
Sri Lanka President launches assembled Hyundai car amid economic crisis
President Ranil Wickremesighe has launched locally assembled Hyundai vehicle with Sri Lanka’s Abans group, as the country is gripped by an import ban on finished cars after the central bank printed money to fix a policy rate and triggered an external collapse. “The introduction of this vehicle takes place at a time when Sri Lanka’s…
Sri Lanka worker remittances jump in January after record labour migration
Worker remittances sent by Sri Lankan expatriates jumped 68.8 percent in January, more wokrers channelled their foreign earnings through formal banking channels, central bank data showed. The remittances, the top foreign exchange earner, recorded $437.5 million in the first month of 2023 compared to $259.2 million in January last year, the central bank data showed….
Sri Lanka’s Ceylon Tea prices fall for the third week
Sri Lanka’s Ceylon Tea prices fell for the third week at an auction on February 08, with most teas from medium and low elevations seeing a decline, data showed. Total offered quantity was down to 4.5 million kilograms from 5 million kilograms a week ago. The weekly sale average fell from 1465.40 rupees to 1428.59…
Uzbekistan Collects Over $300,000 From Crypto Sector
Licensed crypto firms have paid 3.5 billion Uzbekistani som (more than $310,000) to the budget in the course of 2022, Uzbekistan’s regulatory authority responsible for the oversight in the sector revealed during a press conference, quoted by the crypto news outlet Forklog. At the briefing, the National Agency of Perspective Projects (NAPP), a body subordinated…
Sri Lanka celebrates 75th Independence Day today
The 75th National Independence Day – themed “Namo Namo Matha – A Big Step towards a Century” – is celebrated ceremoniously today (February 04) at the Galle Face Green in Colombo as the country is trying to unlock a USD 2.8 billion IMF bailout package to facilitate access to financial support to get the economy…
China says it will discuss Sri Lanka debt re-structuring during two-year moratorium
China’s Exim Bank has given Sri Lanka a two-year moratorium on its defaulted loans and will discuss additional re-structuring within the ‘window’ Foreign Ministry spokesperson Mao Ning has said. The Export-Import Bank of China has sent a letter to Sri Lanka on January 19 saying installments including interest due in 2022 and 2023 would not…
CDS signs up with Lanka IOC to act as Registrar
The Central Depository Systems (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), recently signed a service agreement with Lanka IOC PLC as the registrar for Lanka IOC PLC, with effect from 01st of January 2023. Lanka IOC PLC, with a corporate history spanning 20 years, is the only private sector auto fuel…
DFCC partners with CDB to promote convenient access to inward remittances
DFCC Bank PLC, one of Sri Lanka’s most trusted banks and a leader in inward remittances, has partnered with Citizens Development Business Finance PLC (CDB) one of the top four largest non-banking financial institutions (NBFIs) in Sri Lanka, to promote convenient access to inward remittances. CDB is the 10th financial institution to become a partner…
Indian Market Rout Intensifies After Adani Drops $2.5bn Share Sale
The Adani Group’s decision to abandon its $2.5-billion share sale has worsened the Indian conglomerate’s market rout. Over $100 billion has now been wiped off stock values of its seven listed companies over the past week. The group’s flagship, Adani Enterprises, plummeted 25% again on Thursday after the Adani board called off the share offer…
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