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Sri Lanka unveils debt restructuring strategy with 20% haircut by end April

Sri Lanka is gearing up to embark on the country’s massive external debt restructuring process following the announcement of debt treatment strategy next month stepping into the most difficult and complex creditor persuasion task ever faced by the island nation, finance ministry sources confirmed.

NSB launches South Asia’s first SSID Solution on Blockchain powered by FlexID

National Savings Bank (NSB), Sri Lanka’s premier financial services provider and 3rd largest bank in the country, marked a milestone by unveiling South Asia’s first Self Sovereign Identity (SSID) solution on blockchain for its customers, in partnership with PayMedia and Bridge Advisory and Consulting, powered by FlexID.

Dipped Products PLC opens automated central warehouse at Biyagama EPZ

Dipped Products PLC opens automated central warehouse at Biyagama EPZ

SL Enterprise Restructuring Unit to commercialize seven SOEs soon

A State-Owned Enterprise Restructuring Unit (SRU) has been set up by the Government,

Central Bank continues its dollar buying spree amidst IMF deal

Sri Lanka’s Central Bank continues its unending aggressive” dollar buying spree has prevented sharp appreciation of the rupee, dealers say, as the rupee is under upward pressure amid negative credit and the lifting of a surrender rule.

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President Orders Faster Development of Katunayake Airport and Domestic Airports

President Anura Kumara Dissanayake has directed officials to accelerate ongoing projects to increase passenger-handling capacity and improve facilities at Katunayake International Airport, while also advancing the development of domestic airports across the country to meet future aviation demands. The directive was issued during a discussion on the 2027 Budget proposals for the Ministry of Ports and Civil Aviation held at the Presidential Secretariat. During the meeting, the President reviewed the progress of development projects at Katunayake Airport and stressed the importance of completing them without delay. He also highlighted the need to expand supporting infrastructure, including road networks surrounding the airport, to improve accessibility and accommodate growing passenger traffic. Improving convenience and facilities for air travellers at both Katunayake International Airport and regional airports was another key focus of the discussion. The meeting was attended by Minister of Ports and Civil Aviation and Minister of Energy Anura Karunathilaka, Minister of Labour and Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando, and Deputy Minister of Ports and Civil Aviation Janith Ruwan Kodituwakku. Other participants included Chief of Staff to the President Prabath Chandrakeerthi, Senior Additional Secretary to the President and Secretary to the Ministry of Energy Russell Aponso, Secretary to the Ministry of Finance, Planning and Economic Development Dr. Harshana Suriyapperuma, and Secretary to the Ministry of Ports and Civil Aviation W. W. S. Mangala. Deputy Secretary to the Treasury A. K. Seneviratne, Director General of the Department of National Budget Jude Nilukshan, and other officials from the relevant institutions and the Ministry of Finance also attended the discussion.
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