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LNG power project deal with the New Fortress Energy comes to the fore
The controversial US $ 250 million Sri Lanka LNG power project deal with the US energy company the New Fortress Energy Inc.(NFE) has come in to the focus once again following the government’s urgency to review the project.
Govt gets set to privatize Sri Lankan Airlines amidst plans to lease 11 aircraft
The Sri Lankan Government is getting set to privatize the national carrier, Sri Lankan Airlines in a bid to restructure the debt-ridden airline, faced with unprecedented economic turmoil on a national scale, can no longer afford to fund the carrier.
Sri Lanka resurrects tourism to attract 1.6 million tourists next year
Sri Lanka’s new tourism administration headed by Minister Harin Fernando has resurrected the socio - economic crisis battered hospitality industry
Sinopec to market Sri Lanka products via 27,000 outlets in China
Sinopec, the giant oil company with over 27,000 service stations in China, has entered into an agreement with the Beijing Sri Road Connection Trade Company Ltd., during the Shanghai CIIE, to import and market Sri Lanka Food and Beverage products at their convenience stores. The contract is worth over $ 0.8 million.
Fitch downgrades SL’s rating further making difficult for bridge financing
Fitch Ratings has further downgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’, and has affirmed the Long-Term Foreign-Currency IDR at ‘RD’ (Restricted Default). Fitch typically does not assign Outlooks to ratings of ‘CCC+’ or below.