In Memoriam: James Barnes
The trade world was saddened by the news of the loss of one of our own: Jim Barnes. Below are
Sri Lanka
6 articles
DCW Updates
Sri Lanka Customs Action Leads to Vehicles Sitting Idle at Port
Sri Lanka’s vehicle imports are typically backed by cross-border letters of credit which has been the industry norm for
DCW Scam Survey
Former Sri Lankan Official Arrested for Unauthorized LC Use
A former Additional Secretary to Sri Lanka’s Agriculture State Ministry is facing charges in connection with an alleged financial
DCW Updates
Sri Lanka Banks Again Honouring LCs
After months of depleting US dollar reserves and denial of importers’ LCs amid the country’s dire foreign currency crisis, some Sri Lankan banks have managed to honour LCs.
DCW Updates
Sri Lanka Seeks Coal, but no LCs to Back Sales
Sri Lanka’s Power and Energy Minister has sought Cabinet approval for emergency purchases of coal, but importers have been informed by People’s Bank that it is not possible to open LCs.
DCW Updates
Sri Lanka Gov Purchased Coal from Russian Trader
According Reuters reporting, a Sri Lankan government official has affirmed that the country has purchased two cargoes of 60,000
DCW Updates
Sri Lanka: Importers now Insisting on Confirmed LCs
As the country’s foreign exchange shortage worsens, regular suppliers of imports who previously extended credit terms are now insisting on confirmed LCs.