News

Former AWS exec Puneet Chandok to lead Microsoft`s India operations Microsoft on Tuesday announced that former senior AWS executive Puneet Chandok will be appointed as the Corporate Vice President of Microsoft India and South Asia. Effective from September 1, he will assume the operational responsibilities from Anant Maheshwari. Supported by a strong leadership team, Chandok will oversee the integration of Microsoft's businesses across South Asia, including Bangladesh, Bhutan, Maldives, Nepal, and Sri Lanka, further boosting the company's presen...
Former AWS exec Puneet Chandok to lead Microsoft`s India operations
Former AWS exec Puneet Chandok to lead Microsoft`s India operations
Source: IANS
1/08/2023 2:22:59 PM
LPL 2023: Fourth edition kicks off with a star-studded opening ceremony The fourth edition of the Lanka Premier League (LPL) took off on Sunday evening amidst a glamorous opening ceremony at the iconic R. Premadasa Stadium here. The ceremony witnessed a mix of high-octane music, Sri Lankan culture, dance, fireworks and fanfare ahead of the faceoff between Colombo Strikers and Jaffna Kings held to mark the beginning of the 22-day-long league. The stadium came alive with the breathtaking display of dancing stunts, 25 drummers energetically welcoming everyone ...
LPL 2023: Fourth edition kicks off with a star-studded opening ceremony
LPL 2023: Fourth edition kicks off with a star-studded opening ceremony
Source: IANS
31/07/2023 10:40:06 AM
Sri Lanka to set MPR for fuel as China`s Sinopec enters market after state-run CPC and Inda`s LIOC The first shipment of Chinese fuel supplier Sinopec, the third fuel supplier to enter the Sri Lankan fuel market after India’s Lanka Indian Oil Corporation (LIOC) and the state–run Ceylon Petroleum Corporation (CPC), is to arrive at the island early next month. State Minister of Power and Energy D. V. Chanaka said that with the entrance of Chinese fuel supplier, a decision would to be taken on the ongoing quote system to supply fuel to the consumers. Grappling with the shor...
Sri Lanka to set MPR for fuel as China`s Sinopec enters market after state-run CPC and Inda`s LIOC
Sri Lanka to set MPR for fuel as China`s Sinopec enters market after state-run CPC and Inda`s LIOC
Source: IANS
24/07/2023 9:49:08 AM
Sri Lanka to further increase weekly fuel quota from August Sri Lanka has decided to increase the fuel quota for vehicles again next month, Power and Energy Minister Kanchana Wijesekera said. Wijesekera told the media on Thursday that the decision was taken after evaluating fuel stocks and needs. The Minister said in a Twitter message that the fuel cargo plan and supply for the next six months was reviewed with the Ceylon Petroleum Corporation, Xinhua news agency reported. Fuel import plans, refinery operations, refinery upgrade proposals, QR...
Sri Lanka to further increase weekly fuel quota from August
Sri Lanka to further increase weekly fuel quota from August
Source: IANS
21/07/2023 9:25:43 AM
Sri Lanka's foreign reserves increase to $3.5 bn Sri Lanka's gross official reserves is estimated at around $3.5 billion by the end of June 2023 as the country is trying to overcome its worst economic crisis, a statement from its central bank said on Thursday.
Sri Lanka's foreign reserves increase to $3.5 bn
Sri Lanka's foreign reserves increase to $3.5 bn
Source: IANS
7/07/2023 10:44:06 AM
World Bank approves $700mn to help Sri Lanka implement foundational reforms   The World Bank Group said it has approved $700 million in financing for two operations to help Sri Lanka implement foundational reforms as the island nation is trying to overcome its worst-ever economic crisis. The World Bank Group's Board of Executive Directors discussed the new Country Partnership Framework (CPF) for Sri Lanka, which aims to help restore economic and financial sector stability and build a strong foundation for a green, resilient, and inclusive recovery, rep...
World Bank approves $700mn to help Sri Lanka implement foundational reforms
World Bank approves $700mn to help Sri Lanka implement foundational reforms
Source: IANS
29/06/2023 4:30:46 PM
Sri Lanka emphasises need for urgent debt restructuring Sri Lankan President Ranil Wickremesinghe has emphasised the urgency of debt restructuring to avoid instability, said a statement from the President's Media Division (PMD). The PMD said on Friday that the President made these remarks while participating in a high-level panel discussion at the Summit for a New Global Financing Pact in Paris on June 22. Pointing out that Sri Lanka faced limited access to financing and took ownership of its debt and economic restructuring programme, Wi...
Sri Lanka emphasises need for urgent debt restructuring
Sri Lanka emphasises need for urgent debt restructuring
Source: IANS
25/06/2023 12:59:40 PM
Sri Lanka grants over 100 EV import permits to migrant workers Sri Lanka's Labour and Foreign Employment Ministry said on Sunday that it has granted 111 electric vehicle (EV) import permits under a new programme designed to facilitate Sri Lankan migrant workers in remitting foreign exchange to the country through official and legal channels. Appearing on TV, Labour and Foreign Employment Minister Manusha Nanayakkara emphasised that this initiative is part of several measures introduced by the Ministry to benefit migrant workers who send the foreig...
Sri Lanka grants over 100 EV import permits to migrant workers
Sri Lanka grants over 100 EV import permits to migrant workers
Source: IANS
18/06/2023 5:42:43 PM
Royal Orchid Hotels rises as its ROHL launches Regenta Arie Lagoon in Sri Lanka Royal Orchid Hotels is currently trading at Rs. 342.55, up by 1.40 points or 0.41% from its previous closing of Rs. 341.15 on the BSE. The scrip opened at Rs. 344.95 and has touched a high and low of Rs. 345.10 and Rs. 340.90 respectively. So far 11617 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 384.75 on 25-May-2023 and a 52 week low of Rs. 112.55 on 22-Jun-2022. Last one week high and low of the scrip sto...
Royal Orchid Hotels rises as its ROHL launches Regenta Arie Lagoon in Sri Lanka
Royal Orchid Hotels rises as its ROHL launches Regenta Arie Lagoon in Sri Lanka
Source: IANS
12/06/2023 2:39:58 PM
Asia Cup 2023 to be played in Pakistan and Sri Lanka: Report The Asian Cricket Council (ACC) is likely to approve Pakistan Cricket Board's (PCB) proposed hybrid model for the Asia Cup 2023, which includes Sri Lanka as the neutral venue where India can play their games. According to an ESPNcricinfo report, the PCB's model sees four -- and possibly five -- of the tournament's 13 games being played in Pakistan. All the India-Pakistan games will be played in Sri Lanka, as will the final if India is involved. The window reserved for the to...
Asia Cup 2023 to be played in Pakistan and Sri Lanka: Report
Asia Cup 2023 to be played in Pakistan and Sri Lanka: Report
Source: IANS
11/06/2023 3:38:21 PM
Sri Lanka leave out Mathews, include Pathirana for ODI World Cup Qualifiers Veteran all-rounder Angelo Mathews has been left out while young pacer Matheesha Pathirana has been included in Sri Lanka's 15-man squad for their Men's Cricket World Cup Qualifier, set to be held in Zimbabwe from June 18-July 9, said Sri Lanka Cricket (SLC) on Friday. Mathews, the former skipper, scored 12 runs from 21 balls as Sri Lanka lost to Afghanistan by six wickets in the first of the recently-concluded three-match series at Hambantota. He was subsequently dropped from the ...
Sri Lanka leave out Mathews, include Pathirana for ODI World Cup Qualifiers
Sri Lanka leave out Mathews, include Pathirana for ODI World Cup Qualifiers
Source: IANS
9/06/2023 5:19:11 PM
JK Cement spurts on getting in principle approval to acquire 100% stake in Toshali Cements JK Cement is currently trading at Rs. 3270.00, up by 65.35 points or 2.04% from its previous closing of Rs. 3204.65 on the BSE. The scrip opened at Rs. 3214.00 and has touched a high and low of Rs. 3327.40 and Rs. 3214.00 respectively. So far 8042 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3,327.40 on 06-June-2023 and a 52 week low of Rs. 2005.00 on 23-Jun-2022. Last one week high and low of the scrip stoo...
JK Cement spurts on getting in principle approval to acquire 100% stake in Toshali Cements
JK Cement spurts on getting in principle approval to acquire 100% stake in Toshali Cements
Source: Accord Fintech
6/06/2023 11:02:06 AM
Sri Lankan tourism revenue sees significant increase in May  Sri Lanka's estimated tourism revenue in May saw a remarkable growth of over 200 per cent year-on-year, reaching $131.5 million, according to the latest data from the country's central bank. This impressive increase occurred despite the fact that May is considered an off-peak month for tourist arrivals, Sri Lanka Tourism Development Authority (SLTDA) Chairman Priantha Fernando told the media on Saturday. The estimated revenue from tourism in May 2022 was $43.5 million, dat...
Sri Lankan tourism revenue sees significant increase in May
Sri Lankan tourism revenue sees significant increase in May
Source: IANS
4/06/2023 9:21:45 AM
Sri Lanka, UP to strengthen ties by promoting Ramayana, Buddhist trails Sri Lanka and Uttar Pradesh are planning to strengthen ties by promoting the Ramayana trail in the island nation and the Buddhist trail in the Indian state through a formal framework. In a statement issued by the Foreign Ministry in Colombo, the decision was taken following a meeting between Sri Lankan High Commissioner to India Milinda Moragoda and Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday in Lucknow. "The discussions centred on the ancient and strong cultural and ...
Sri Lanka, UP to strengthen ties by promoting Ramayana, Buddhist trails
Sri Lanka, UP to strengthen ties by promoting Ramayana, Buddhist trails
Source: IANS
19/05/2023 2:22:03 PM
Sri Lanka to seek $200mn from World Bank for social security programs Sri Lanka's cabinet of ministers approved a proposal to start discussions with the World Bank to obtain $200 million for social security programs, a spokesperson said on Tuesday. Cabinet spokesperson Bandula Gunawardena told journalists that President Ranil Wickremesinghe made the proposal in his capacity as the Finance Minister, reports Xinhua news agency. Gunawardena said that Sri Lanka has agreed to implement a robust social security network to protect the most vulnerable groups ...
Sri Lanka to seek $200mn from World Bank for social security programs
Sri Lanka to seek $200mn from World Bank for social security programs
Source: IANS
9/05/2023 4:24:15 PM
India extends $1 billion credit line for Sri Lanka by a year India has extended a $1 billion credit line for Sri Lanka by one year, a Sri Lankan official told Reuters on Tuesday, giving the crisis-hit country a backup funds to pay for essential imports. The credit line, part of about $4 billion in emergency assistance extended by India during the peak of Sri Lanka's financial crisis early last year, was scheduled to end in March. Post-negotiations, the credit line was extended until March 2024, said Sri Lanka's Deputy Treasury Secretary P...
India extends $1 billion credit line for Sri Lanka by a year
India extends $1 billion credit line for Sri Lanka by a year
Source: IANS
9/05/2023 2:59:51 PM
IPL 2023: Faced only 10-12 balls from Pathirana as he's tough to pick, says Ruturaj Gaikwad Young Sri Lanka pacer Matheesha Pathirana shone the brightest with his deadly spell of 3-15 in four overs as Chennai Super Kings beat Mumbai Indians by six wickets in a one-sided IPL 2023 match at the MA Chidambaram Stadium. He did not concede a single boundary in his spell on Saturday night, with the standout being taking out Nehal Wadhera with an accurate and fiery 145kph yorker and denying Mumbai the finishing kick they needed. Opener Ruturaj Gaikwad praised Pathirana for his spell a...
IPL 2023: Faced only 10-12 balls from Pathirana as he's tough to pick, says Ruturaj Gaikwad
IPL 2023: Faced only 10-12 balls from Pathirana as he's tough to pick, says Ruturaj Gaikwad
Source: IANS
7/05/2023 5:38:46 PM
As dedollarisation picks up steam, it will have positive cascading effect on Rupee India has traditionally traded with the global community in US Dollars and a basket of currencies. Against the basket we have done well and have appreciated against the British Pound and Euro, but it is against the US dollar that our performance has not been the best. To add to our concerns is the fact that many countries have their currency pegged to the US Dollar. Some examples are the UAE Dirham, Malaysian Ringgit and Hong Kong Dollar, among others. India has been trading in Indian R...
As dedollarisation picks up steam, it will have positive cascading effect on Rupee
As dedollarisation picks up steam, it will have positive cascading effect on Rupee
Source: IANS
6/05/2023 4:03:44 PM
Sri Lanka to introduce new laws to achieve green economy: President  Sri Lankan President Ranil Wickremesinghe has said that his government would introduce new laws to establish the country as a green economy, according to a statement from the Presidential Media Division. Addressing the Presidential Environment Awards 2021-2022 ceremony in Colombo on Friday, Wickremesinghe highlighted that it is not solely the responsibility of developing countries such as Sri Lanka to mitigate climate change, Xinhua news agency reported. The President emphasised t...
Sri Lanka to introduce new laws to achieve green economy: President
Sri Lanka to introduce new laws to achieve green economy: President
Source: IANS
29/04/2023 10:36:50 AM
Sri Lanka can benefit from India's fast-tracked industrialisation: Prez Wickermesinghe Sri Lanka President Ranil Wickermesinghe has said that in the backdrop of India becoming the world's most populated country while having industrialisation which is on fast track, Sri Lanka can reap the benefits, and plan to become an air and sea hub in the region. Addressing the 30 year development plan of the Colombo North Port workshop here, Wickremesinghe highlighted the importance of probing the development in India to find the connectivity that is going to take place between India...
Sri Lanka can benefit from India's fast-tracked industrialisation: Prez Wickermesinghe
Sri Lanka can benefit from India's fast-tracked industrialisation: Prez Wickermesinghe
Source: IANS
24/04/2023 10:25:27 AM
Sri Lanka can benefit from India`s fast-tracked industrialisation: Prez Wickermesinghe Sri Lanka President Ranil Wickermesinghe has said that in the backdrop of India becoming the world's most populated country while having industrialisation which is on fast track, Sri Lanka can reap the benefits, and plan to become an air and sea hub in the region. Addressing the 30 year development plan of the Colombo North Port workshop here, Wickremesinghe highlighted the importance of probing the development in India to find the connectivity that is going to take place between India...
Sri Lanka can benefit from India`s fast-tracked industrialisation: Prez Wickermesinghe
Sri Lanka can benefit from India`s fast-tracked industrialisation: Prez Wickermesinghe
Source: IANS
23/04/2023 5:49:44 PM
Japan, India and France announce common platform for Sri Lanka creditors Japan, India and France on Thursday announced a common platform for talks among bilateral creditors to coordinate restructuring of Sri Lanka's debt, a move they hope would serve as a model for solving the debt woes of middle-income economies. It remains uncertain, however, whether Sri Lanka's biggest bilateral creditor - China - will join the initiative launched by Japan, this year's G7 chair, with the aim of kicking off a series of meetings among Sri Lanka's creditors. ...
Japan, India and France announce common platform for Sri Lanka creditors
Japan, India and France announce common platform for Sri Lanka creditors
Source: Reuters
14/04/2023 9:48:06 AM
Japan, India and France announce common platform for Sri Lanka creditors Japan, India and France on Thursday announced a common platform for talks among bilateral creditors to coordinate restructuring of Sri Lanka's debt, a move they hope would serve as a model for solving the debt woes of middle-income economies. It remains uncertain, however, whether Sri Lanka's biggest bilateral creditor - China - will join the initiative launched by Japan, this year's G7 chair, with the aim of kicking off a series of meetings among Sri Lanka's creditors. ...
Japan, India and France announce common platform for Sri Lanka creditors
Japan, India and France announce common platform for Sri Lanka creditors
Source: Reuters
14/04/2023 8:43:02 AM
India Sotheby`s International Realty clocks record sales transactions valued at $450 million, in FY23. India Sotheby’s International Realty (India SIR) is pleased to announce a growth of over 50% in the gross sale property turnover for the FY 2023 over FY 2022. The sales value of real estate transacted for the FY 2023 stood at $450 million vs $300 million. The firm focusses primarily on luxury residential sales and large capital market property transactions.   The firm grew its property inventory by over 30% which currently stands at over $1 bn. South &am...
India Sotheby`s International Realty clocks record sales transactions valued at $450 million, in FY23.
India Sotheby`s International Realty clocks record sales transactions valued at $450 million, in FY23.
Source: PR Agency
11/04/2023 4:13:48 PM
Sri Lanka sees increase in tourism earnings in first quarter Amid the ongoing economic crisis, Sri Lanka has witnessed an increase from tourism earnings with around $530 million being received in the first three months of 2023, according to the latest data from the country's central bank. Sri Lanka earned $198.1 million in March, bringing tourism earnings in the first quarter to $529.8 million, the data showed. In the first three months of 2022, Sri Lanka earned $482.3 million from tourism, reports Xinhua news agency. A tourism official sa...
Sri Lanka sees increase in tourism earnings in first quarter
Sri Lanka sees increase in tourism earnings in first quarter
Source: IANS
8/04/2023 4:06:30 PM
Sri Lanka sees significant increase in remittances in 2023 Sri Lanka saw a significant increase in remittances so far this year with over $560 million sent back by migrant workers in March, Minister of Labour and Foreign Employment Manusha Nanayakkara said on Friday. Announcing the monthly remittances received, the Minister said it marked a 78.5 per cent increase from the inflows recorded in March 2022, reports Xinhua news agency. Nanayakkara said remittances by migrant workers have increased remarkably this year. The South Asian country got...
Sri Lanka sees significant increase in remittances in 2023
Sri Lanka sees significant increase in remittances in 2023
Source: IANS
7/04/2023 4:12:40 PM
Nic Pothas appointed Bangladesh men's team assistant coach Former South African batter Nic Pothas has been appointed as the assistant coach of the Bangladesh men's cricket team, the Bangladesh Cricket Board (BCB) announced on Thursday. The 49-year-old has reached a two-year agreement with the BCB and will join the squad in the UK next month for the three-match ODI series against Ireland. "I am honoured to commit to the Bangladesh national team. The depth and array of talent running through Bangladesh is exceptional and I believe we hav...
Nic Pothas appointed Bangladesh men's team assistant coach
Nic Pothas appointed Bangladesh men's team assistant coach
Source: IANS
7/04/2023 12:28:51 PM
Sri Lankan economy projected to contract by 4.3%: World Bank Amid the ongoing economic crisis, the Sri Lankan economy is projected to contract by 4.3 per cent in 2023 as demand continues to be subdued, job and income losses intensify, and supply-side constraints adversely affect production, the World Bank announced. Sri Lanka's heightened fiscal, external, and financial imbalances and its fluid political situation pose significant uncertainty for the country's economic outlook, the World Bank said in its twice-a-year update, underscoring the...
Sri Lankan economy projected to contract by 4.3%: World Bank
Sri Lankan economy projected to contract by 4.3%: World Bank
Source: IANS
5/04/2023 4:23:38 PM
Foreign firms entering Sri Lanka fuel retail market to start operations in 2 months The three foreign companies that were selected to enter Sri Lanka's fuel retail market will commence operations within the next two months, a Minister said here on Tuesday. Minister of Power and Energy Kanchana Wijesekera told the media that agreements will be signed with these companies within the next two to three weeks, reports Xinhua news agency. Wijesekera said that the three companies are keen on starting operations in Sri Lanka and have requested the government to fast-track ...
Foreign firms entering Sri Lanka fuel retail market to start operations in 2 months
Foreign firms entering Sri Lanka fuel retail market to start operations in 2 months
Source: IANS
4/04/2023 4:06:03 PM
SLINEX-2023 to strengthen bond between Indian, Sri Lankan navies  'SLINEX-2023', the annual Indian Navy Sri Lanka Navy bilateral maritime exercise, conducted to strengthen the bond between the navies, began in Colombo on Monday, and will go on till April 8. The 10th edition of the exercise is being conducted in two phases - the harbour phase in Colombo from April 3-5, followed by sea phase from April 6-8, off Colombo. The Indian Navy is represented by advanced anti-submarine warfare corvette INS Kiltan and offshore patrol vessel INS Savi...
SLINEX-2023 to strengthen bond between Indian, Sri Lankan navies
SLINEX-2023 to strengthen bond between Indian, Sri Lankan navies
Source: IANS
4/04/2023 9:40:44 AM
Sri Lanka`s inflation drops further to 50.3% Sri Lanka's inflation decreased to 50.3 per cent in March from 50.6 per cent the previous month amid the ongoing economic crisis, official statistics revealed. The year-on-year inflation of the food group dropped to 47.6 per cent in March from 54.4 per cent in February, and inflation in the non-food group increased to 51.7 per cent from 48.8 per cent in February, reports Xinhua news agency. Inflation in the country has been dropping in the last few months. Inflation fell to 54.2 ...
Sri Lanka`s inflation drops further to 50.3%
Sri Lanka`s inflation drops further to 50.3%
Source: IANS
2/04/2023 10:38:02 AM
Asian Kho Kho C'ships: Indian men, women's teams emerge champions Indian men and women clinched the titles in the 4th Asian Kho Kho Championships that concluded at Tamulpur, Assam. In both men's and women's categories, the third place was shared by Sri Lanka and Bangladesh. In the finals, the Indian men defeated Nepal by six points and an innings while the Indian women got the better of the same opponent by 33 points and an innings in the finals on Thursday. Earlier, in the semifinals, Indian men overcame the Sri Lankan challenges by 45 points...
Asian Kho Kho C'ships: Indian men, women's teams emerge champions
Asian Kho Kho C'ships: Indian men, women's teams emerge champions
Source: ians
24/03/2023 3:31:51 PM
Sri Lanka secures $2.9bn IMF bailout As Sri Lanka is still undergoing its worst ever economic crisis since independence in 1948, the island nation has finally secured a $2.9 billion bailout from the International Monetary Fund (IMF), which comes as a lifeline for the country that has billions of dollars in loans. The development was confirmed to the media by State Minister of Finance Shehan Semasinghe late Monday night, the Daily Mirror reported. Without providing any further details, Semasinghe said that President Ranil W...
Sri Lanka secures $2.9bn IMF bailout
Sri Lanka secures $2.9bn IMF bailout
Source: IANS
21/03/2023 9:25:24 AM
CLOSE-IN: India now aim for cricket`s highest honour - The World Test Championship 2023 The battle for India to qualify for the final of the World Test Championship being held at the Oval in England on June 7, 2023 has definitely been a nail-biter. Sri Lanka was the only side that could have ruined India's chances of qualifying and they nearly did so. The last ball of a Test match victory by New Zealand against Sri Lanka was the closest finish one could ever imagine. The New Zealand captain, Kane Williamson, scrambled to get the last run and managed to reach the crease...
CLOSE-IN: India now aim for cricket`s highest honour - The World Test Championship 2023
CLOSE-IN: India now aim for cricket`s highest honour - The World Test Championship 2023
Source: IANS
18/03/2023 11:21:31 AM
Sri Lanka President assures external creditors of transparency in resolving debt crisis Sri Lanka President Ranil Wickremesinghe has assured the island nation's external creditors of maintaining full transparency in resolving the debt crisis and getting the country back on the track. Awaiting the much-needed $2.9 International Monetary Fund (IMF) bailout which is expected to be taken up at March 20 board meeting by the Washington-based lender, he encouraged both bilateral and private creditors of Sri Lanka to strengthen coordination between themselves and engage const...
Sri Lanka President assures external creditors of transparency in resolving debt crisis
Sri Lanka President assures external creditors of transparency in resolving debt crisis
Source: IANS
17/03/2023 11:33:24 AM
Sri Lanka`s central bank ready to adopt IMF programme within March The Central Bank of Sri Lanka (CBSL) has said that it was ready to adopt the IMF programme within March 2023. CBSL Governor Nandalal Weerasinghe told a press conference on Friday that the CBSL and the IMF have been engaging continuously in intensive negotiations on the monetary policy stance amid extraordinarily high inflation and a high degree of uncertainty surrounding inflation projections and the near term outlook. There have been some differences between the CBSL and IMF staff on t...
Sri Lanka`s central bank ready to adopt IMF programme within March
Sri Lanka`s central bank ready to adopt IMF programme within March
Source: IANS
4/03/2023 10:22:30 AM
Sri Lanka to allow private companies to supply jet fuel Sri Lanka's Cabinet of Ministers has approved a proposal to allow private companies to supply Jet A-1 aviation fuel to airplanes as the state-owned petroleum distributor fails to meet the demand, government Spokesperson Bandula Gunawardena said on Tuesday. Addressing a press conference, the Spokesperson added that Jet A-1 aviation fuel is currently being supplied to aircraft by the Ceylon Petroleum Corporation (CPC), Xinhua news agency reported. However, in the past year the operati...
Sri Lanka to allow private companies to supply jet fuel
Sri Lanka to allow private companies to supply jet fuel
Source: IANS
1/03/2023 9:14:48 AM
'India's G20 Presidency opportune moment to push for strong political signal' India's G20 Presidency is an opportune moment to push for the "very strong political signal" to set the ambition expectations for COP28 and the Global Stocktake, UN Climate Change Executive Secretary Simon Stiell said at the World Sustainable Development Summit here on Friday. "We are coming to the end of the technical phase of the Global Stocktake. But it is the following phase, the political piece, that requires elevation. It can only be affected by the political will ...
'India's G20 Presidency opportune moment to push for strong political signal'
'India's G20 Presidency opportune moment to push for strong political signal'
Source: IANS
25/02/2023 9:55:30 AM
As G20 finance chiefs gather, Yellen calls for more economic aid to Ukraine U.S. Treasury Secretary Janet Yellen stepped up calls on Thursday for increased financing support to Ukraine to help it battle the year-old Russian invasion as the United States readies an additional $10 billion in economic assistance in coming weeks. Yellen, speaking at a news conference in India on the eve of the first anniversary of the Russian invasion, said it was critical for the International Monetary Fund to "move swiftly" towards a fully financed loan programme for Ukrai...
As G20 finance chiefs gather, Yellen calls for more economic aid to Ukraine
As G20 finance chiefs gather, Yellen calls for more economic aid to Ukraine
Source: Reuters
23/02/2023 5:05:59 PM
Sri Lanka approves Adani Group's two wind power plants in North Struggling to generate power amid the ongoing financial crisis, Sri Lanka has given the go-ahead to two wind power plants by India's Adani Group, an investment amounting to more than $400 million. The Board of Investment (BOI) Sri Lanka approved two plants by Adani Green Energy Ltd. at Mannar and Pooneryn, the former war-torn areas in the North, the BOI said on Wednesday. According to the BOI, the two wind power plants of 350 MW which are scheduled to be commissioned in two years, a...
Sri Lanka approves Adani Group's two wind power plants in North
Sri Lanka approves Adani Group's two wind power plants in North
Source: IANS
23/02/2023 12:28:16 PM
After power tariff hike, SL Prez allows relief for some with $100 mn Indian credit line Amid the major power tariff hike imposed, Sri Lanka President Ranil Wickremesinghe has instructed to provide concessions for low-income families and solar rooftop systems for religious places and government educational institutions using an Indian credit line of $100 million. President Wickremesinghe has issued a directive to the Power and Energy Minister and the state-run power supplier, Ceylon Electricity Board (CEB) to provide concessions to low-income groups against the major tariff ...
After power tariff hike, SL Prez allows relief for some with $100 mn Indian credit line
After power tariff hike, SL Prez allows relief for some with $100 mn Indian credit line
Source: IANS
17/02/2023 4:28:56 PM
Sri Lanka's electricity regulator permits hiking power tariffs by 66% Sri Lanka's electricity regulator, Public Utilities Commission (PUCSL), on Wednesday approved increasing the electricity tariff by 66 per cent with effect from the same day. The PUCSL in early January had received a proposal from the state-owned electricity producer, Ceylon Electricity Board (CEB), to increase electricity tariffs by 66 percent to avoid losses, Xinhua news agency reported. It took about six weeks for the PUCSL to come to an agreement. The CEB suffered an estimated...
Sri Lanka's electricity regulator permits hiking power tariffs by 66%
Sri Lanka's electricity regulator permits hiking power tariffs by 66%
Source: IANS
16/02/2023 9:33:16 AM
Sri Lanka, India to sign power grid linking pact within two months Sri Lanka and India will sign a pact to link their power grids and start negotiations on an upgraded trade agreement within two months, a Sri Lankan diplomat said on Wednesday, as the island nation seeks a way out of its worst economic crisis in decades. India has provided some $4 billion in assistance to its southern neighbour since the crisis hit early last year, but Sri Lanka is now seeking to enhance trade and investments as it moves to close a $2.9 billion loan from the International ...
Sri Lanka, India to sign power grid linking pact within two months
Sri Lanka, India to sign power grid linking pact within two months
Source: Reuters
15/02/2023 4:18:05 PM
Skretting India launches state-of-the-art shrimp and fish feed facility in Surat with 18.5 mn euro Skretting, the Norway-based global leaders in aqua feed and nutrition, is set to inaugurate its state-of-the-art production facility for shrimp and fish feed in Mangrol, Surat. A division of The Netherlands-based Nutreco, leaders in animal and aqua nutrition, the newly set up high-end facility allows it to further enhance support for its customers and the Indian aquaculture sector. Nutreco is the subsidiary of SHV Holdings N.V., a family-owned Dutch multinational. Skretting has been lea...
Skretting India launches state-of-the-art shrimp and fish feed facility in Surat with 18.5 mn euro
Skretting India launches state-of-the-art shrimp and fish feed facility in Surat with 18.5 mn euro
Source: IANS
9/02/2023 5:18:57 PM
CMS IT Services hires Wipro veteran Sanjeev Singh as CEO, MD CMS IT Services announced on Friday it has appointed Sanjeev Singh as Chief Executive Officer and Managing Director. Singh joins Bengaluru-based CMS IT Services from Wipro where he was Chief Operations Officer and a member of Wipro Executive Board. Before joining Wipro, he was the CEO at Aegis Ltd for its India and Sri Lanka businesses. "He has an exceptional leadership track record, strong exposure to Indian and global markets, deep strategic expertise, and proven track record ...
CMS IT Services hires Wipro veteran Sanjeev Singh as CEO, MD
CMS IT Services hires Wipro veteran Sanjeev Singh as CEO, MD
Source: IANS
27/01/2023 4:11:06 PM
India commits to help Sri Lanka on debt in prospective IMF program India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary Fund-supported program, the IMF said on Monday. The island nation of 22 million people has grappled with challenges during the past year ranging from a shortage of foreign currency to runaway inflation and a steep recession - the worst such crisis since independence from Britain in 1948. Reuters reported last week that India had told the IMF it strongly...
India commits to help Sri Lanka on debt in prospective IMF program
India commits to help Sri Lanka on debt in prospective IMF program
Source: Reuters
24/01/2023 5:05:25 PM
Sri Lanka earns $900 mn from rubber exports in 2022 Sri Lanka has made 327 billion rupees ($900 million) in 2022 by exporting rubber products, the Rubber Development Department said. Director General of the department Madawa Kulasuriya told the media on Saturday that this was a slight drop from 2021 revenue, which was $1 billion, Xinhua news agency reported. However, the South Asian country intends to increase revenue from rubber products to $3 billion by 2025, he said. Major markets for finished rubber products are the US, Germany an...
Sri Lanka earns $900 mn from rubber exports in 2022
Sri Lanka earns $900 mn from rubber exports in 2022
Source: IANS
22/01/2023 9:44:49 AM
Sri Lanka expects financing assurances from China for IMF deal within days India has told Sri Lanka it is committed to boosting investment in its debt-ridden neighbour, to help pull it from its worst economic crisis in seven decades, Foreign Minister Subrahmanyam Jaishankar said on Friday during a visit. The island nation of 22 million has grappled with challenges over the past year ranging from a shortage of foreign currency to runaway inflation and a steep recession, in its worst such crisis since independence from Britain in 1948. Jaishankar, on a two-day v...
Sri Lanka expects financing assurances from China for IMF deal within days
Sri Lanka expects financing assurances from China for IMF deal within days
Source: Reuters
20/01/2023 12:04:16 PM