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Sri Lanka becomes regional hub for enhancing connectivity for Daraz Group
The Daraz Group recently convened its strategic management meetings in Colombo Sri Lanka. The leadership teams and senior management from the Daraz’s offices in Pakistan, Bangladesh, Nepal, Singapore and Dubai met in Colombo for this forum where the Group strategy and direction for the new financial year was discussed and finalised. Commenting on the opportunity, […]
Battling Disease & Debt: Financing Non-Communicable Diseases Amidst Economic Crisis
By Sunimalee Madurawala: Introduction “The shortage of medicines will significantly impact medications for non-communicable diseases (NCDs). If NCD patients don’t receive their regular medication, their condition will worsen,” stated a Provincial Director of Health Services speaking on the implications of the economic crisis on NCDs. Over the last few decades, NCDs have emerged as a […]
Ceylon Chamber mobilises corporate sector support to adopt 105 Suwa Seriya ambulances
The Ceylon Chamber of Commerce successfully facilitated the adoption of 105 Suwa Seriya ambulances, valued at Rs.525 million rupees, to support Sri Lanka’s healthcare system. Suwa Seriya is a pioneering ambulance service launched by the Government of Sri Lanka to provide swift emergency medical care to those in need, especially in rural and remote areas. […]
Virtusa expands Sri Lanka HQ to accommodate growing team
Virtusa added 13,000 sq. ft of new office space to its Colombo facility as part of its ongoing expansion strategy to support the company’s growing headcount. The opening of the new space was graced by Chief Technology Officer (CTO) of Virtusa Corporation Ram Meenakshisundaram, Senior Vice President – Human Resources Rahul Sahay, alongside Virtusa Sri […]
Sri Lanka and UK to convene strategic dialogue on 18 April in London
Foreign Secretary Aruni Wijewardane will participate in the inaugural UK-Sri Lanka Strategic Dialogue at Foreign Secretary level on 18 April 2023 at the Foreign Commonwealth and Development Office (FCDO) in London. UK Minister of State in the FCDO Anne Marie Trevelyan will open the dialogue, which will be conducted with the participation of Sir Philip Barton, Permanent Undersecretary of […]
Fitch Downgrades Capital Alliance Investment Grade Fund to BBf(lka)/S4(lka), Maintains RWN
Fitch Ratings has downgraded Capital Alliance Investment Grade Fund’s National Fund Credit Quality Rating to ‘BBf(lka)’ from ‘Af(lka)’ and its National Fund Market Risk Sensitivity Rating to ‘S4(lka)’ from ‘S1(lka)’. Fitch has maintained the ratings on Rating Watch Negative (RWN).
Creditor committee to ensure comparable treatment; IMF expects negotiations to end by 1st program review
IMF Deputy Managing Director says that it is encouraging to see official creditors organizing themselves around a coordinated platform which helps ensure the comparability of treatment among creditors. Speaking at the Creditors’ Meeting of Sri Lanka’s debt restructuring negotiation process Kenji Okamura said that expeditious resolution is needed for Sri Lanka to emerge as quickly […]
‘ Meeting launched; Japan, India & France agree on swift debt restructuring negotiation for SL
Japan, India, and France in the margins of the Spring Meetings on Thursday formally launched the Creditors’ Meeting on Sri Lanka’s debt restructuring negotiation process. The three creditor countries said they have been closely working toward a coordinated and swift debt restructuring for Sri Lanka which will provide a comparable treatment for every creditor. Japanese […]
Global Sovereign Debt Roundtable highlights debt restructuring challenges & ways to address them
The Global Sovereign Debt Roundtable (GSDR) met yesterday and discussed debt sustainability and debt restructuring challenges and ways to address them. At the end of the meeting, the International Monetary Fund Managing Director Kristalina Georgieva, World Bank Group President David Malpass and Indian Minister of Finance Nirmala Sitharaman, co-chairs of the GSDR, released the following […]
Japan, India & France to announce the launch of debt restructuring negotiation process on Sri Lanka
Japan, India, and France will hold a press briefing on Thursday in the margins of the Spring Meetings to announce the launch of the debt restructuring negotiation process on Sri Lanka, the Japanese Ministry of Finance said in a statement. Japanese Minister of Finance Shunichi Suzuki, Vice Minister of Finance Masato Kanda, Indian Minister of […]
TISL Welcomes Anti-Corruption Bill, but Flags Two Major Concerns
The proposed Anti-Corruption Bill contains several laudable provisions that seek to improve upon the existing anti-corruption legal framework in Sri Lanka, TISL, Deputy Executive Director Sankhitha Gunaratne said. The proposed Anti-Corruption Bill, which seeks to replace the Bribery Act (Chapter 26), the Commission to Investigate Allegations of Bribery or Corruption Act No. 19 of 1994, […]
US Department of Transportation officials meet SLPA Chairman
The Chairman of Sri Lanka Ports Authority (SLPA) Keith Bernard met officials from the U.S. Department of Transportation on 6/04/2023 at the Chairman’s office at HQ Colombo. Officials of the U.S. Department of Transportation discussed further collaboration between the U.S Department of Transportation and SLPA. The Chairman of SLPA Bernard at the discussions updated the […]