Water cut in several areas in Colombo on Sunday

Colombo port sees jump in traffic amid Red Sea tensions

Sri Lanka’s Colombo port has seen a big jump in container volumes in recent weeks as vessels steering clear of tensions in the southern Red Sea have found it a convenient transit point, officials said on Tuesday. Yemen’s Iran-backed Houthi rebels have since November attacked ships in the Red Sea, part of a route that accounts for about 12% of the world’s shipping traffic, in what they say is an effort to support Palestinians in the war with Israel. In response, some shipping companies have ins

16 Jan, 2024

SriLankan Airlines misses another coupon on its 2024 bond

SriLankan Airlines Ltd. missed a third coupon payment on its dollar bond due later this year, according to a filing on Tuesday.? The company said a further event of default would occur because it doesn?t intend to pay the coupon due on Dec. 25, having already missed payments in December 2022 and June 2023. The airline?s board intends to communicate further with the holders of these notes, it said. The bond with semi-annual payments matures on June 25 this year, according to Bloomberg-compiled

17 Jan, 2024

Pune Gas expands operations into Sri Lanka

Pune Gas, a leading provider of LPG solutions?announced its strategic expansion into the burgeoning Sri Lankan market. The move comes in response to the increasing demand for sustainable energy solutions in Sri Lanka?s industrial and commercial sectors, aligning with the company?s commitment to delivering innovative and eco-friendly gas alternatives. With over a three-decade history of providing world-class solutions to India?s industrial heat and gas needs, Pune Gas has formed a joint venture

16 Jan, 2024