restructuring

Colombo President Ranil Wickremesinghe said on Friday that Sri Lanka saved $8 billion in the last two years thanks to “effective economic management” and emphasized that the nation is now recovering from economic turmoil due to the restructuring of the debt.Sri Lanka finalized debt...

Sri Lanka's Colombo has reached a debt restructuring deal with international sovereign bondholders after protracted negotiations, state finance minister Shehan Semasingher said on Thursday, calling it a "crucial step" in the troubled country's efforts. liquidity to restore debt sustainability...

Colombo: Sri Lanka's efforts to sell stake in loss-making SriLankan Airlines have not been successful, Aviation Minister Nimal Siripala de Silva said on Wednesday and clarified that the national flag carrier will be restructured, not sold.In March, the government had extended the deadline for...

Colombo President Ranil Wickremesinghe on Tuesday said "substantial progress" has been made in Sri Lanka's debt restructuring, which he said provided much-needed breathing room for the cash-strapped country to transform its economy into bankruptcy in a resilient and stable economy.Briefing...

Colombo, Sri Lanka President Ranil Wickremesinghe on Tuesday responded to opposition criticism of the cash-strapped country's external debt restructuring deal with major bilateral creditors and promised to submit all agreements and documents related to the debt restructuring to a parliamentary...

New Delhi, echoing the urgency of healthcare reforms ranging from restructuring of Ayushman Bharat Yojana (AB-PMJAY) to acceleration of digital health mission, experts and industry leaders have outlined key priorities for the Modi government in his third consecutive term.His statements...

Colombo Former Sri Lankan President Mahinda Rajapaksa left on Thursday on an official visit to Beijing, where he will meet Premier Li Qiang and Foreign Minister Wang Yi to discuss the debt restructuring deal of the island nation with China.China is Sri Lanka's largest bilateral lender, holding...

Paris [France], Sri Lanka on Wednesday sealed the $5.8 billion debt restructuring deal with the Official Committee of Creditors (OCC), in a major step towards its recovery from the 2022 financial crisis.The OCC, the group of creditor nations including India, was launched on April 13, 2023 to...

New Delhi, India on Wednesday welcomed Sri Lanka's debt restructuring deal with a group of creditor nations and said it will continue to support the island nation's economic recovery, including by promoting long-term investments.India is one of the co-chairs of the Official Committee of...

Colombo, Sri Lanka President Ranil Wickremesinghe announced on Wednesday that debt restructuring agreements with bilateral lenders, including India and China, have been finalized in Paris, describing the development as an "important milestone" that will bolster international confidence in the...

The government in Colombo, Sri Lanka, said on Wednesday it had finalized a long-delayed $5.8 billion debt restructuring deal in Paris with its bilateral lenders, including India and China, to meet a key condition of an IMF bailout.This was announced by President Ranil Wickremesinghe's office...

COLOMBO: Cash-strapped Sri Lanka has approved a debt restructuring deal with its creditors while talks with international sovereign bondholders will continue further, Cabinet spokesman and minister Bandula Gunawardena said on Tuesday.Gunawardena also said that top treasury officials along with...

Colombo President Ranil Wickremesinghe will address the nation on Wednesday evening, during which he is likely to brief Sri Lankans on the cash-strapped country's economic challenges and provide an update on debt restructuring efforts external.President Wickremesinghe, who also holds the...

The restructuring will also include incentives for research and development (R&D) to create a manufacturing ecosystem.According to reports, the government has started accepting applications for releasing the stimulus on a quarterly basis compared to the earlier annual norm of releasing funds...

New Delhi, The Competition Commission of India (CCI) on Tuesday said it has approved the proposed internal restructuring within the Godrej Group.“The proposed combination relates to the interests, legal ownership and management of various entities within the Godrej Group pursuant to an...

Colombo, Sri Lanka's macroeconomic policy reforms have begun to "bear fruit" and the country is expected to soon reach an agreement with external commercial lenders, the IMF said on Friday, after extending its US$2.9 billion loan to the cash-strapped country. Said ahead of the second review of...

New Delhi, Tata Steel on Wednesday reported a 64.59 per cent decline in its consolidated net profit at Rs 554.56 crore during the March 2024 quarter due to lower realizations and some extraordinary items.It had made a profit of Rs 1,566.24 crore in the year-ago period, the company said in a...

PN Mumbai (Maharashtra) [India], May 27: Exicon Events Media Solutions Limited, a BSE-listed Exicon Group company, has announced its excellent financial results for the financial year 2023-2024. The company's exceptional performance highlights its financial strength and operational excellence. ...

New Delhi: About two weeks after the resignation of the CEO of Ola Mobility, the company's Chief Financial Officer Karthik Gupta has also resigned from the company.Ola Mobility said Gupta's exit is part of the company's restructuring process. Gupta had joined the company seven months ago."As...

Gupta's departure comes two weeks after the company's CEO Hemant Bakshi stepped down.According to the company, Gupta's departure is part of an "ongoing restructuring" process.An Ola spokesperson told IANS, "As a part of the ongoing restructuring, Kartik Gupta, CFO of Ola Mobility, has...