Author Archive for Business

Free Trade Agreement(FTA) Direction Among Issues To Be Discussed By Najib In Sri Lanka

Sunday, December 17th, 2017

From Azeman Ariffin Courtesy BERNAMA COLOMBO (SRI LANKA), Dec 16 (Bernama) — The framework for the Malaysia-Sri Lanka Free Trade Agreement (FTA) is one of the main issues to be discussed in Prime Minister Datuk Seri Najib Tun Razak’s three-day official visit to the country, beginning tomorrow. The charge d’affaires at the Malaysian High Commission in Sri […]

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PVR to open first screen in Sri Lanka in 2 years

Sunday, December 17th, 2017

Press Trust of India,Hong Kong, Dec 17 2017, 17:04 IST Leading multiplex operator PVR is scouting overseas destinations for expansion and plans to open its first project in Sri Lanka in next two years, a top company official has said. Besides Sri Lanka, the Gurgaon-based firm is also looking for other neighbouring countries like Myanmar […]

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Beetle in Lankan tea shipment to Russia Exporter to be spared says Pethiyagoda

Sunday, December 17th, 2017

BY RAVI LADDUWAHETTY Courtesy Ceylon Today The Sri Lanka Tea Board will not take any punitive action against the exporter involved in a shipment of tea to Russia that contained a beetle which led to a temporary ban on imports to that country, a topmost official said yesterday. The Russian Federation has clamped a total ban […]

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Sri Lanka ramps up efforts to address any issues of tea export shipments

Sunday, December 17th, 2017

By Steve A. Morrell Courtesy The Island December 17, 2017, 8:21 pm International news agencies reported recently that Russian agricultural authorities had found an insect, known as the Khapra beetle, in the packaging of one consignment of tea from Sri Lanka. The Sri Lankan authorities and the Tea Board have ramped up their attempts to effectively […]

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Beetle blocks tea supplies to Russia

Saturday, December 16th, 2017

Courtesy The Island December 15, 2017, 10:51 pm Russia will place temporary restrictions on imports of all agricultural products from Sri Lanka, including tea, from Dec. 18, a report published by the Indian Express said quoting the Russian agricultural safety watchdog Rosselkhoznadzor. The IE report said: The watchdog said it had taken the decision to […]

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Plantation stocks hit in the wake of reported tea export restrictions

Saturday, December 16th, 2017

By Hiran H.Senewiratne Courtesy The Island Stock prices at the Colombo Stock Exchange (CSE)  in plantation sector  counters dropped yesterday with reported restrictions on Sri Lankan agricultural exports, including Ceylon tea,  from December 18, by  the Russian agricultural safety watchdog Rosselkhoznadzor. On the previous day plantation sector counters picked up in the stock market but with […]

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SL plays down Russian tea ban; says insect detection an isolated incident

Saturday, December 16th, 2017

Courtesy The Daily Mirror The Sri Lanka Tea Board said today that the detection of an insect which led to the temporary ban of Ceylon Tea imports into Russia may have been an isolated incident, and that Plantation Industries Minister Navin Dissanayake would visit Russia to clear the situation. This Thursday, the Russian Federation banned […]

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Electric car plant, lithium battery factory in Lanka soon – Dr Yaddehige

Wednesday, December 13th, 2017

Courtesy The Daily News Richard Pieris & Company PLC plans to invest between Rs 15 to 20 billion in several unique projects in the next three years that will see electric cars, lithium batteries and Oud perfume manufactured in Sri Lanka. Dr. Sena Yaddehige, Chairman of Richard Pieris & Company PLC, said the group profit […]

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China leads foreign direct investments (FDI) into Sri Lanka

Sunday, December 10th, 2017

Courtesy  Shanghai Daily CHINA has accounted for 35 percent of foreign direct investments into Sri Lanka up to September this year, with FDI for 2017 expected to total US$1.36 billion, local media said on Saturday. According to a statement from the Ministry of Development Strategies and International Trade, there has been a strong uptick” in […]

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Burning issues on GAS tenders

Tuesday, December 5th, 2017

 By Nirmala Kannangara Courtesy The Daily Mirror Questions have been raised as to why the Ministry of Public Enterprise Development is silent over Litro Gas Lanka’s alleged failure to follow government procurement guidelines in the Liquid Petroleum Gas (LPG) purchase.  The Technical Evaluation Committee [TEC] appointed by the Department of Public Finance and Treasury to evaluate […]

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WHAT AN EMPTY SRI LANKAN AIRPORT SHOWS ABOUT THE INDIA-CHINA RIVALRY

Tuesday, December 5th, 2017

 DAVID BREWSTER  Courtesy warontherocks.com  Editor’s Note: A version of this article was originally published by The Interpreter, which is published by the Lowy Institute, an independent, nonpartisan think tank based in Sydney. War on the Rocks is proud to be publishing select articles from The Interpreter. Geopolitical rivalry between big powers sometimes yields odd results. The latest development in growing strategic competition across […]

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Govt blundered by halting East Terminal causing Rs 3.5 bn loss – Ports Minister Move to open up shipping agency business to foreigners wrong

Tuesday, November 28th, 2017

By Saman Indrajith Courtesy The Island A delay in developing the Colombo Port East Terminal had led to a loss of Rs 3.5 billion to the Sri Lanka Ports Authority (SLPA), Ports and Shipping Minister Mahinda Samarasinghe told parliament yesterday. Minister Samarasinghe revealed this, speaking at the committee stage debate on Budget 2018, when the Finance […]

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Construction Corruption; at the Threshold of Human Misery

Wednesday, November 22nd, 2017

Dr. Chandana Jayalath An e-book will soon be on the internet; titled Construction Corruption; at the Threshold of Human Misery. It is a self-publication since no publisher came forward to take the challenge of getting it to the public eye. Contents are rough simply because truth is bitter. We all know, and indeed experience, that […]

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Environmental issue related to Hambanthota Industrial Zone

Monday, November 20th, 2017

Dr. P. Attanayake. I am writing to bring up an important environmental issue related to Hambanthota Industrial Zone.  If this issue is not addressed now, it may result in serious ecological and human health problems in the near future. As we all know, foreign companies will be setting up industries in the newly created Industrial […]

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Crooked politicians blocking foreign investments

Tuesday, November 14th, 2017

PROF. O.A. ILEPERUMA Courtesy The Island November 14, 2017, 8:42 pm The letter by Fr. Augustine Fernando on “Corruption threatens all investments” (Island 3-11-2017) should be an eye opener to our President and the Prime Minister, as it gives vivid details of how corrupt ministers ruin our country. They only serve themselves rather than the people […]

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Sri Lankan Dairy Farmers Get US$21M

Tuesday, November 14th, 2017

Courtesy TheCattleSite News Desk SRI LANKA – US Department of Agriculture through the Food for Progress Program announced a new US$ 21 million project to help increase the productivity of Sri Lanka’s dairy sector, and connect thousands of Sri Lankan farmers to local and regional markets, Under Secretary for Political Affairs Thomas A. Shannon, Jr. […]

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SMALL COUNTRY LIKE MALDIVES IS FAR AHEAD SRI LANKA IN FISHING INDUSTRY LESSONS TO  LEARN-Part 2

Monday, November 13th, 2017

Dr Sarath Obeysekera SUPPLY OF  MOTHER VESSELS  TO COLLECT AND STORE THE FISH  CAUGHT BY THE MULTI DAY LONG LINE BOATS AND TRANSPORT TO SHORE IN SRI LANKA Purpose In the light of GSP concessions granted to Sri Lanka by European Union,Sri Lanka expects a boom in Fishing Industry .Therefore the country needs to improve […]

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Sri Lankan stocks drop; telcos, banks drag after budget measures

Friday, November 10th, 2017

COLOMBO, Nov 10 (Reuters) – Sri Lankan shares fell on Friday, weighed down by declines in telecom and banking stocks after the island nation targeted both cash-rich sectors in its 2018 budget to boost revenue. Sri Lanka imposed new taxes on motor vehicles, telecoms, banks and liquor in a bid to boost revenues in its […]

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කතානායකගේ පටි රෝල්.. තෙල් සංස්ථාව IOCට විකුණා ඇත්තේ කරු ජයසුරියයි..

Wednesday, November 8th, 2017

 lanka C news 2001 දි පත්වු එක්සත් ජාතික පක්ෂ ආණ්ඩුවේ විදුලිබල හා බලශක්ති ඇමති කරු ජයසුරිය මහතායි. එවකට සිටි අගමැති රනිල් වික්‍රමසිංහ ප්‍රමුඛව ආණ්ඩුව ලංකා ඛනිජ තෙල් සංස්ථාවේ 20% කොටසක් 2002 දි ඉංදිය ඔයිල් සමාගමට වසර 35 සඳහා බදු දුන්නේ ය, අද එම ගිවිසුමේ ඇති අවාසි සහගත තත්ත්වය හමුවේ මෙරටේ ජනතාව විශාල ඉන්දන අර්බුදයකට මුහුණ […]

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රටතුල නිර්මාණය වී ඇති පෙට්‍රල් හිඟය

Saturday, November 4th, 2017

ඩී. ජේ. රාජකරුණා ලේකම්,ලංකා ඛනිජ තෙල් පොදු සේවක සංගමය ඛනිජ තෙල් සම්පත් සංවර්ධන අමාත්‍යතුමා, ඛනිජ තෙල් සම්පත් සංවර්ධන අමාත්‍යාංශය, ‘‘සිපෙට්කෝ හවුස්’’, දෙමටගොඩ. ගරු ඇමති තුමනි, රටතුල නිර්මාණය වී ඇති පෙට්‍රල් හිඟය පිළබඳවයි  මේ වනවිට රටේ බොහෝ ප්‍රදේශවල පිරවුම්හල් වල පෙට්‍රල් ඉන්ධන නොමැති වීම නිසා ජනතාව මහත් අපහසුතාවයට පත්ව ඇත. අප වෙත ලැබී ඇති තෝරතුරු අනුව මේ […]

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මත්තල ඉන්දියාවට විකුණුවොත් රටේ ජනපතිටත් එහේ යන්න ඉන්දියාවෙන් අවසර ගන්න වෙයි – හිටපු ජනාධිපති මහින්ද රාජපක්‍ෂ

Sunday, October 29th, 2017

මත්තල – දිලීප් එන්. ජයසේකර උපුටා ගැන්ම දිවයින රටට මේ වෙලාවේ නව ව්‍යවස්‌ථාවක්‌ අවශ්‍ය නොවන බව මල්වතු අස්‌ගිරි මහනාහිමිවරුන් ඇතුළු රටේ සමස්‌ත විද්වතුන්ම පවසද්දී එයට සවන් දීම රජයේ යුතුකමක්‌ බව හිටපු ජනාධිපති මහින්ද රාජපක්‌ෂ මහතා පැවසීය.    හිටපු ජනාධිපතිවරයා මේ බව පැවසුවේ තිස්‌සමහාරාම බෙරළිහෙළ කුඩාගම්මාන තුන ශ්‍රී සුදර්ශනාරාම විහාරස්‌ථානයේ පසුගිය දින (24 දා) පැවති ආගමික උත්සවයක්‌ […]

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President orders renegotiation of talks with prospective int’l airlines

Thursday, October 26th, 2017

Sandun A Jayasekera Courtesy The Daily Mirror President Maithripala Sirisena has instructed the apex economic management body, the National Economic Commission (NEC) to renegotiate a dialogue with two international airlines in a bid to resuscitate the national carrier Sri Lankan Airlines (SLA) including the old partner Emirates and the latest rounds of talks have been satisfactory, […]

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Sri Lanka Makes Arrests in $60 Million Taiwanese Bank Cyberheist

Thursday, October 12th, 2017

By Adela Lin and  Anusha Ondaatjie  Courtesy Bloomberg Sri Lankan police have arrested two people after a Taiwanese bank said hackers stole about $60 million and wired the cash to accounts in Asia and the U.S., the latest cyberheist to afflict the global financial system.   Far Eastern International Bank’s computer systems were attacked by malware that […]

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Arjun Aloysius: The James Bond of bond business

Tuesday, October 10th, 2017

By Namini Wijedasa Courtesy The Sunday Times (LK) Just three days after last year’s presidential election, someone predicted the Perpetual Treasuries Ltd (PTL) bond issue on an online website for stock market investors. The man wrote on Sri Lanka Equity Forum:Perpetual Treasuries owned by Free Lanka Capital Holdings owners will mostly get a large amount of […]

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Sri Lanka attracts over 200,000 Chinese tourists this year

Tuesday, October 10th, 2017

Xinhua COLOMBO — Over 200,000 Chinese tourists had arrived in Sri Lanka till September this year with over 18,000 arriving last month alone, statistics released by the Sri Lanka Tourism Ministry showed here Monday. Over 1.5 million tourists have arrived in the country so far this year with the government recently announcing they were expecting […]

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Sri Lanka’s opposition warns against proposed airport deal with India

Monday, October 9th, 2017

livemint.com Sri Lanka’s opposition alliance spoke out against the proposed lease of an airport to an Indian firm, warning the government not to allow the country become a ‘pawn’ in international power politics. Colombo: Sri Lanka’s opposition alliance, led by former president Mahinda Rajapaksa’s son, on Monday opposed the proposed lease of an airport to an […]

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GMR of India and we need to be careful ………. Making Mattala Airport viable lessons from RGIA Hydrabad

Sunday, October 8th, 2017

Dr Sarath Obeysekera India’s largest airport developer and operator GMR Group is willing to convert Mattala Rajapaksa International Airport (MRIA) into a profitable venture, if a request comes from the Sri Lankan Government. It was reported in the local media in August that an Indian company has made a proposal to the Civil Aviation Minister […]

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Expressways,corruption and flipside of development

Sunday, October 8th, 2017

BY DR. PRASANNA COORAY Courtesy The Island October 8, 2017, 10:16 pm We, Sri Lankans, never learn from our past mistakes. After all, it is popularly said that Sri Lankans don’t remember “anything” for more than one week. Not many moons ago the Southern Expressway wreaked havoc by worsening the flood situation in the South. It […]

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Camping and Caravanning Club confirms Sri Lanka motorhome tour

Wednesday, October 4th, 2017

outandaboutlive.co.uk Worldwide Motorhoming Holidays by the Camping and Caravanning Club has announced a new escorted motorhome tour of Sri Lanka that kicks off in March 2018 Earlier this year, escorted tours of Japan and western Australia were introduced, adding to an already established list of worldwide motorhoming destinations. The new tours proved very popular, with […]

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Most profitable Asia cigarette maker faces competition from beedis

Wednesday, October 4th, 2017

financialexpress.com British American Tobacco Plc’s unit in Sri Lanka says it’s poised to lose its dominant position in the market to leaf-rolled cigars made by small local rivals.  The gap between the price of cigarettes and beedis, cheap tobacco wrapped in a coarse leaf, has widened after the government raised excise duties and slapped a […]

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