Radi

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 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.

Another luxury cruise ship, Azamara Quest arrived at the Colombo Port yesterday carrying more than 600 passengers, mainly from the US the third luxury cruise with in 16 days from the arrival of the first such cruise liner signaling the revival of the country’s hospitality industry.

Amidst mounting people’s protest Adani Group of Indian multi billionaire business magnet Gautam Shantilal Adani’s ambitious mega port project in s Kerala state is nearing completion for the opening next year, informed official sources said.

Sri Lanka has expressed a keen desire to strengthen and diversify the existing close and cordial bilateral relations with the Maldives into a vibrant and multifaceted partnership for the mutual benefit of the people of the two nations.