Sri Lanka general insurance companies are likely to face financial risks when settling claims for the insurance cover for various sectors as the foreign reinsurance contract of local company – reinsurer the National Insurance Trust Fund’s (NITF) has been terminated.
Sri Lanka’s Central Expressway construction project has met with an unavoidable obstacle following the decision of China's state-owned Exim Bank to suspend the US$ 51 million loan for the first phase of the project.
Sinopec, the biggest petrochemical company in China, is likely to enter the Sri Lankan market for fuel importing, distribution and selling petroleum products, informed sources said.
The Bandaranaike International Airport (BIA) expansion project funded by the Japanese International Corporation Agency (JICA) has been suspended temporarily as the Government is not in a position to repay the loan.
In a new twist soothing the tensions between China and India Indian ocean maritime security, Sri Lanka has asked China to indefinitely delay a visit by a ship with long-range scanning capabilities that can be used to map defense installations and help the Chinese military's strategic planning.
