Economics

Sri Lanka Signs $3.7 Billion Deal with Sinopec for New Oil Refinery in Hambantota

Sri Lanka has signed a landmark agreement with Sinopec, the Chinese international petroleum corporation, to build a state-of-the-art oil refinery in Hambantota. The.

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Economics

Fitch Upgrades Sri Lanka to ‘CCC+’, Reflecting Debt Restructuring Progress and Economic Recovery

Fitch Ratings has upgraded Sri Lanka’s long-term foreign-currency issuer default rating (IDR) to ‘CCC+’, from ‘RD’ (Restricted Default), marking a significant milestone in.

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Economics

Sri Lanka’s Rupee to Remain Resilient, SLBA Chief Says

Sri Lanka’s rupee is expected to remain stable on a ‘very comfortable terrain’ in the coming years, with gross foreign exchange reserves forecast.

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Finance

Sri Lanka Banking System Repays Debt and Builds FX Reserves of US$7.4 Billion Since Default

Since Sri Lanka’s selective default in April 2022, the country’s banking system, including the central bank and commercial banks, has repaid or built.

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Tourism

Sri Lanka’s Tourism Earnings Surge to US$ 2.35 Billion Amid Recovery Efforts

Sri Lanka’s tourism sector continues to show positive momentum as of September 2024, with both visitor arrivals and earnings on the rise, despite.

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Tourism

Sri Lanka’s Tourism Revenue Rises by 18.9% in September as Arrivals Surge

Sri Lanka’s tourism sector saw a significant boost in foreign exchange revenue, reaching $181 million in September 2024, an 18.9% increase from $152.2.

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Economics

Sri Lanka’s July 2024 Remittances Increase by 10.3% to $566.8 Million

Sri Lanka’s remittances surged by 10.3% to $566.8 million in July 2024, marking a significant rise from the previous year, thanks to increased.

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Finance

Sri Lanka Approves Five Firms for Airport Foreign Exchange Counters

Sri Lanka’s cabinet has approved five companies to operate foreign exchange counters at Bandaranaike International Airport, according to Minister Bandula Gunawardana. Following a.

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Economics

Tea Exports Cover $60M of Sri Lanka’s Fuel Debt to Iran

The Sri Lanka Tea Board announced that exports of Ceylon Tea have successfully offset $60 million of the country’s fuel bill owed to.

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