Ceylon Graphite Enters into Strategic Partnership with Sri Lanka’s LOLC to Capture Global Battery Anode Market
Sri Lanka’s diversified Conglomerate LOLC Holdings PLC has entered into MOU with Vancouver-based Ceylon Graphite Corp. to jointly develop at least three new graphite mines and to set up a…
Sri Lanka extends forex restrictions on capital flight by six months
The government has extended suspensions/restrictions on capital forex outflows (outward remittances) by six months with effect from the 2nd of July this year to preserve the country’s shrinking FX reserves.…
A surging crisis in Sri Lanka: A new wave of COVID-19 is causing chaos
By Jeevethan Selvachandran Over the last few months, the world has watched India struggle through an unimaginable COVID-19 situation – over the first half of 2021, the pandemic’s second wave wreaked havoc…
Sri Lanka Retailers’ appeals for cost-sharing from Business Partners amid current economic crisis
The Sri Lanka Retailers’ Association (SLRA), the apex body for organized retail in Sri Lanka is requesting landlords, lessors, and business partners to reduce leases and rentals for the Association’s…
IFC’s Investment in Sunshine Holdings to Help Diversify Business Operations in Sri Lanka, Drive Efficiency
Consumers in Sri Lanka are set to benefit from a new $5 million investment by International Finance Corporation (IFC) to Sunshine Consumer Lanka Ltd, a subsidiary of Sunshine Holdings PLC…
IMF Welcomes G7 Action to Support the World Exit the Pandemic Crisis
International Monetary Fund Managing Director Kristalina Georgieva made the following statement yesterday at the conclusion of her virtual participation in the G7 Leaders’ Summit: “I would like to thank Prime…
Sri Lanka’s FX reserves hit a new low of $ 4.02 billion in May
Sri Lanka’s gross official foreign exchange reserves tumbled to $ 4.02 billion at end of May from $4.5 billion a month ago as the country faces $3.5 billion external debt…
CSE envisages transforming to a multi-product securities exchange before 2025
The 35-year-old Colombo Stock Exchange (CSE) set eyes to take a quantum leap – towards a much more comprehensive and multi-product securities exchange before 2025 in catching up with lost…
CCC Partners with Australia’s Market Development Facility to promote inclusive and sustainable private sector-led growth
The Ceylon Chamber of Commerce (CCC) recently entered into an MOU with Market Development Facility (MDF), Australia’s flagship private sector development program, to support the private sector in innovating to…
Fitch Ratings Expects IMF Board to Approve Proposed SDR allocation in August
Fitch expects the new general special drawing rights (SDR) allocation to be approved by the IMF’s board of governors, likely in August. The move will raise foreign exchange reserves for…