Responding to the moves taken by the Economic and Commercial Office of the Chinese Embassy in Sri Lanka to blacklist People’s Bank,the People’s Bank said the decision to halt the payment to the Chinese Company was taken following an interim injunction issued by the court.
The bank said steps would be taken on making the payments depending on future court decisions.
The Economic and Commercial Office of the Chinese Embassy in Sri Lanka had announced that People’s Bank was blacklisted for failing to make the payment according to the Letter of Credit and the contacts between two parties.
The Embassy said the Chinese fertilizer enterprise Qingdao Seawin Biotech Group Co., Ltd requested to get the payment of L/C by People’s Bank of Sri Lanka according to the contracts.
Tourist arrivals to Sri Lanka have crossed the 170,000 mark within the first three weeks…
The latest report from the Sri Lanka Export Development Board (EDB) revealed that the country…
Sri Lanka Podujana Peramuna (SLPP) Parliamentarian Namal Rajapaksa, the eldest son of former President Mahinda…
The Colombo Magistrate’s Court today (27) granted bail to Yoshitha Rajapaksa, the second son of…
Yoshitha Rajapaksa, the second son of former President Mahinda Rajapaksa, who had been remanded in…
Australian Prime Minister Anthony Albanese recognised Australia’s new citizens including those from Sri Lanka, as…