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Sri Lanka says it has reached an agreement with the Exim Bank of China on key terms and principles for restructuring its debt, a key step toward unlocking a second instalment of a $2.9 billion ...
16 January – The government announces an agreement with Chinese state oil company Sinopec valued at $3.7 billion to construct a "state-of-the-art oil refinery" with a capacity of 200,000 barrels in Hambantota. [1]
Debt-stricken Sri Lanka signed a trade pact with Thailand on Saturday in a bid to boost trade and investment as the Indian ocean island nation is struggling to recover from its worst economic ...
The purpose of the loan scheme was to encourage the local production, regional development and to boost the revenue streams of the small and medium businesses in Sri Lanka, especially with the aim of withstanding foreign competitors and to elevate import substitution strategies in order to expand the Gross Domestic Product and economic growth ...
The trade agreement is commonly brought up as an example of strong ties between the two nations. In January 2022, during his visit to Sri Lanka, Chinese Foreign Minister Wang Yi pledged to further develop bilateral relations between the two countries, "carrying forward the spirit of the Rubber-Rice Pact," noting that China has provided a large ...
Sri Lanka's overseas bonds extended gains after the debt agreement was officially confirmed, with longer-dated notes rising as much as 1.6 cents on the dollar to just over 50 cents at 1213 GMT ...
Chinese petroleum giant Sinopec signed an agreement with Sri Lanka on Monday to enter the South Asian island country's retail fuel market as it struggles to resolve a worsening energy crisis amid ...
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [41] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [42]