Categories: Social Media News

People's Bank Tells China After Honouring USD 6.9 Mn Payment – Desi123.Com | Online News Portal Asia – World Latest News

COLOMBO (News 1st); The People’s Bank of Sri Lanka has informed the Chinese Embassy in Sri Lanka of its request to be taken off the blacklist by the Embassy’s Economic and Commercial Office over the Chinese Fertilizer shipment that was rejected by Sri Lanka, after pathogens were detected in samples twice.

This is after People’s Bank honoured the Letter of Credit obligation of USD 6.9 Mn to China’s Qingdao Seawin Biotech Group.

The People’s Bank of Sri Lanka announced that a sum of USD 6.9 Million was paid to Qingdao Seawin Biotech Group Co., Ltd, on Friday (7) as per the Letter of Credit opened for the purchase of organic fertilizer.

This announcement comes three days after the Colombo Commercial High Court dissolved an order preventing the payment to a Chinese company for imported fertilizer.

The order was dissolved on the basis that the Chinese company and the Sri Lankan Government had reached a settlement on the issue.

The People’s Bank of Sri Lanka was then blacklisted by the Economic and Commercial Office of the Chinese Embassy in Sri Lanka for failing to make the payment according to the Letter of Credit and the contracts between the two parties.

Latest News

 

Original Source

Social Media Asia Editor

Recent News

Chinese automaker BYD slams reports of poor conditions at a factory site in Brazil

BANGKOK (AP) — A spokesperson for Chinese automaker BYD has objected to reports about poor…

7 hours ago

Japan Airlines says systems restored after cyberattack

Japan Airlines said its systems were up and running again after a cyberattack on Thursday…

9 hours ago

More than 50 Cornish men and women have changed the world

If you’re reading this you’re probably already of the mindset that Cornwall is pretty special.Hopefully,…

9 hours ago

Trump repeats call to acquire Panama Canal, Canada, and Greenland in Christmas greetings

US President-elect Donald Trump repeated his call to acquire the Panama Canal, Canada, and Greenland,…

11 hours ago

India’s landmark telemedicine initiative needs a revamp if it is to fulfil its potential

A medical officer in Gujarat PHC tries to log into eSanjeevani portal | Credit: Tabassum…

12 hours ago

Azerbaijan Plane Crash: External Damages, Pilot’s Distress Call Spark ‘Sabotage’ Theories

Curated By :Last Updated:December 26, 2024, 08:48 ISTThe shrapnel marks on the rear fuselage of…

12 hours ago