United States assures support for Sri Lanka in responding to COVID and building its economy despite the withdrawal of the MCC grant
The United States assures support for Sri Lanka in responding to COVID and building its economy, despite the withdrawal of Rs. 89 billion Millennium Challenge Corporation (MCC) grant. ” On December…
IATA to launch its Travel Pass within 1Q2021
The International Air Transport Association (IATA) is on the schedule to release the IATA Travel Pass early in the first quarter of 2021 to help reconnect our world safely. The…
Sri Lankan Airlines plans to procure two freighters in 2021
Sri Lankan Airlines (UL) plans to call Request for Proposals (RFP) to procure two dedicated freighters shortly. “There’s so much cargo business at the moment. Exports have picked up, so…
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Sri Lanka faces worst decline as debt crisis looms
Sri Lanka Tuesday announced its worst economic slump with second-quarter GDP plunging 16.3 percent as international concern grows over its ability to repay foreign debt. The department of Census and…
LOLC acquires Hemas’ Serendib Hotel PLC for Rs.792M
Sri Lanka’s Hemas Holdings PLC (HHL) has divested its’ shareholding in Serendib Hotel PLC to LOLC Holdings PLC for Rs 791.7 million. Eden Hotel Lanka PLC, a unit of LOLC…
Sri Lanka plans to resume international flight operations after Christmas
Sri Lanka plans to resume international flight operations from the 26th of December allowing commercial and cargo flights to operate to Island Nation without a restricted schedule, the Civil Aviation…
Sri Lanka’s trade deficit declines in October
Sri Lanka’s trade deficit declined by $320 million to $514 million in October compared to the preceding month, the Central Bank (CB) data showed. The $ 514 million trade deficit…
No Final Decision yet on Airport re-opening in January
The government hasn’t made a final decision yet on opening up Sri Lanka’s borders for foreign travelers in January next year, Sri Lanka Tourism, Chairperson, Kimarli Fernando said. Taking part…
Blackstone acquires Piramal Glass for $1 billion
The World’s largest alternative equity firm, Blackstone Group Inc, has signed an agreement to acquire Piramal Group’s Piramal Glass including its unit in Sri Lanka for an estimated $1…
United States kick-off $20M Project to Support Small Businesses and empower Female Participation in Sri Lanka’s Labor Force
The United States launched a new Rs3.6 billion ($ 19.5 million) initiative to help small businesses and economically empower Sri Lankan women. The Private Sector Development Project, which is funded through…