Press Release Veemansa Initiative Veemansa Initiative, an independent think tank recently held a Webinar on the proposed Colombo Port City Economic Commission Bill and related subjects. Based on the deliberations at the webinar and the follow-up analysis, it was evident that the Colombo Port City Project, a 100% foreign investment venture plans to attract a […]

Courtesy https://www.fibre2fashion.com/ Pic: ShutterstockSri Lanka is all set to ban the import of textile fabrics in a bid to protect domestic industry, the state minister for batik, handloom textiles and local apparel productions, Dayasiri Jayasekara, has announced. The relevant gazette notification has been approved by Parliament, and will be notified soon, the minister said last week. Jayasekara […]

Courtesy Aviation Business news Sri Lankan Airlines operated various ad-hoc charters into Entebbe – a destination it doesn’t usually fly to. Within 24 hours NAS Nairobi managing director Sarah Wangui and the wider Entebbe team took advantage of the opportunity and generated a load consisting of fish maws across 135 pieces. Fish maws are considered […]

Kelum Bandara Courtesy The Daily Mirror Sri Lanka will import 39,000 tonnes of dehydrated coconut chips to manufacture coconut oil to meet the local demand for edible oil without any shortage to be triggered otherwise by the ban imposed on palm oil, an official said. The Trade Ministry will sign a forward sales agreement with […]

Courtesy NewsIn.Asia Colombo, April 8 (Daily News) – Sri Lanka will build South Asia’s first Disneyland in the proposed Bopitiya leisure Park which will be created by Korea Cavitation Co. a company with Investments from Malaysia and Korea. President of Korea Cavitation Co. Baekgeum Kim and the representative of Sri Lanka Dr. Parimala Rajo Isa […]

Courtesy NewsIn.Asia Colombo, April 8: The High Commission of Pakistan, in collaboration with Ministry of Commerce and Trade Development Authority of Pakistan (TDAP), organized a promotional event for Pakistani dates in Sri Lanka, at the High Commission in Colombo on Thursday.   In his remarks, the High Commissioner of Pakistan,  Maj. Gen (Retd.) Muhammad Saad […]

Courtesy Adaderana President Gotabaya Rajapaksa has ordered the importation of Palm Oil into Sri Lanka to be halted with immediate effect. Secretary to the President P. B. Jayasundera has advised the Controller-General of the Department of Imports and Exports Control to issue the relevant gazette order to give effect to these instructions within today (April […]

Taryn Varricchio and Emily Christian Courtesy Business insider https://www.businessinsider.com/why-ceylon-cinnamon-sri-lanka-so-expensive-2021-3?r=US&IR=T Ceylon cinnamon is made from the dried inner bark of a tree native to Sri Lanka. One pound of these quills can cost $27. That’s because it’s difficult and costly to produce. Even some of the most experienced cinnamon peelers can only make a few pounds of quills a day.  […]

Courtesy NewsIn.Asia Colombo, March 29 (DailyFT): A Bill to provide for the establishment of the Colombo Port City (CPC) Special Economic Zone has been published in the Gazette and is slated to be presented to Parliament next month.  The 76-page Bill provides for the establishment of a Commission empowered to grant registrations, licences, authorisations, and […]

LankaPropertyWeb LankaPropertyWeb, Sri Lanka’s number one real estate portal will be hosting the first ever Lanka Property Show 2021 Virtual Conference. The event will be held alongside the Lanka Property Show 2021 Virtual Expo that is set to go live from the 26th to the 28th of March. The virtual conference will be conducted by […]

Courtesy The Daily Mirror Prominent Russian business tycoon Andrey Melnichenko visited Port City Colombo today.  He was accompanied by Sri Lankan-born British Politician and former EU Parliamentarian Niranjan Deva Aditya, a statement said. The statement said  Melnichenko is a self-made billionaire with major investments in Switzerland based fertilizer giant EuroChem Group and Russia based coal […]

Courtesy Adaderana Adani Ports and Special Economic Zone Ltd. will work with Sri Lanka’s John Keells Holdings Plc to develop a port terminal in the island nation, Indian billionaire Gautam Adani’s first such standalone overseas project. India’s biggest private port operator got a letter of intent from Sri Lankan authorities to build and operate the […]

Courtesy mint An APSEZ release said the WCT will be developed on a Build, Operate and Transfer basis for a period of 35 years as a public-private partnership. (AFP) APSEZ will partner with John Keells Holdings PLC, Sri Lanka’s largest diversified conglomerate, and with the Sri Lanka Ports Authority (SLPA) as a part of the consortium […]

‘SABUDDHI’ Organisation The ‘SABUDDHI’ Organisation, which works on fostering literature while encouraging connectivity between sports, art, and literature, signed a Memorandum of Understanding (MoU) with the Global Academic Research Institute (GARI) on 11 March. The agreement is aimed at collaborating on future academic and research work, as well as providing media support to the GARI […]

සභාපති – සබුද්ධි. සබුද්ධි සහ ග්ලෝබල් ඇකඩමික් රිසර්ච් ඉන්ස්ටිටියුට් හෙවත් ගැරී (Global Academic Research Institute – GARI) ආයතනය අවබෝධතා ගිවිසුමකට (03 වැනිදා) එළැඹෙයි. එසේ එක් වන්නේ ඉදිරි ශාස්ත්‍රීය සහ පර්යේෂණ කටයුතුවලදී සහයෝගයෙන් කටයුතු කිරීමට මෙන් ම ගැරි ආයතනයට සබුද්ධි කවයෙන් මාධ්‍ය සහයෝගිතාව ලබා දීම උදෙසාය. ශ්‍රී ලංකාවේ ප්‍රමුඛතම අධ්‍යයන, සම්මන්ත්‍රණ සහ පර්යේෂණ ප්‍රකාශන මධ්‍යස්ථානයක් වන […]

Courtesy Adaderana Construction of the Lakdhanavi Liquified Natural Gas Power Plant in Kerawalapitiya, was flagged off this morning (March 05) by Prime Minister Mahinda Rajapaksa. On completion, LNG Power Plant is set to become the first of its kind in the country. Construction of the power plant will be completed in two phases with the […]

උපුටා ගැන්ම ලංකා සී නිව්ස් ලංකාවෙන් කුරුඳු සිගරැට්ටුවක් ලෝක වෙළෙඳපොළට හඳුන්වා දීමට මේ වනවිට සියල්ල සූදානම් කර ඇතැයි වාර්තා වෙයි. මේ නිසාල බහු ජාතික දුම්වැටි සමාගම් කලබල වී ඇති අතර මෙම නිෂ්පාදනය එළි දැක්වීමට බාධා එල්ල කරමින් තිබෙන බව අනාවරණය වේ. මෙම කුරුඳු සිගරැට්ටු නිපදවීම සඳහා වසර 06 ක පමණ කාලයක් වෙහෙස මහන්සි වී තිබෙන […]

Kelum Bandara Courtesy The Daily Mirror Visiting Pakistani Prime Minister Imran Khan, in his joint address to the media with Prime Minister Mahinda Rajapaksa, said he instructed his delegation to explore the possibility of increasing Sri Lanka’s trade connectivity to the Central Asian region through the China-Pakistan Economic Corridor (CEPC) t called by him as […]

Courtesy Hiru News The Monetary Board has issued Rules as published in the Gazette Extraordinary No. 2215/39 dated 18.02.2021 in respect of receipt of export proceeds into Sri Lanka and conversion of such export proceeds into Sri Lanka Rupees. Accordingly, following Rules are imposed with effect from 18 February 2021 until further notice. 1. Every […]

Lanka Property Web (Pvt) Ltd Since the turn of the year there has been an increase in real estate activity by property buyers and sellers”, said Sri Lanka’s leading property portal LankaPropertyWeb. The company stated that a comparison between the number of visits to lankapropertyweb.com during the month of January in 2020 and 2021, showed […]

By P.K. Balachandran/newsin.asia Courtesy NewsIn.Asia Colombo, February 17: Sri Lanka’s Energy Minister, Udaya Gammanpila, claimed on Wednesday that the Indian High Commissioner, Gopal Baglay, has agreed that a Joint Venture should be established to manage all the 84 oil tanks in Trincomalee and that the Ceylon Petroleum Corporation (CPC) should  be the majority shareholder with […]

Courtesy Reuters Feb 17 (Reuters) – Sri Lankan shares reversed from steep early losses to settle higher on Wednesday as industrial and material stocks advanced. * The benchmark stock index ended 0.10% higher at 7,588.34, having slumped as much as 2.57% earlier. The index has shed 5.1% over the last two sessions. * Activated carbon […]

Courtesy proactiveinvestors.com “Production will scale over 2021 and beyond,” said Bharat Parashar, the miner’s CEO Mining was interrupted mining twice in 2020/21 due to the coronavirus (COVID-19) pandemic Ceylon Graphite Corp (CVE:CYL) (OTCMKTS:CYLYF) (FRA:CCY) has told investors it is set to resume output at its K1 asset in Sri Lanka now planned upgrades to the shaft […]

Press Release  The Public Utilities Commission of Sri Lanka (PUCSL), The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator approved the power purchase agreement to build 300 MW Kerawalapitiya Liquid Natural Gas power plant in Sri Lanka under the new chairmanship and the board members last week (13 Feb 2021). The power […]

Courtesy Adaderana The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, approved the power purchase agreement to build a 300 MW Kerawalapitiya Liquid Natural Gas power plant in Sri Lanka under the new chairmanship and the board members last week (13). The power purchase agreement will be signed by the Ceylon Electricity […]

DW Documentary The “New Silk Road” is an enormous Chinese international development project. It’s a trade network that involves Asia, Africa, and Europe — and more than 70 countries are already involved. It may turn the old world order upside down. China is investing in bridges, port facilities, railroads, and roads around the world. Beijing […]

Courtesy Adaderana Investigations will be carried out into certain banks debiting money without informing account holders, says State Minister of Finance and Capital Market and Public Enterprise Reforms Ajith Nivard Cabraal. Complaints regarding similar incidents have been received, the State Minister said adding that strict action will be taken against such banks. Cabraal noted that […]

Courtesy The Daily Mirror In response to internet media reports about India asking for the settlement of US $ 400 million currency swap as an act of retaliation for the cancellation of the port project, the Indian High Commission said a rollover facility for the settlement of had been granted for the Central Bank of […]

Courtesy Adaderana The U.S. Government committed a $40 million loan to Sri Lanka’s SDB bank to support small and medium enterprises (SMEs) and women entrepreneurs. The loan from the U.S. International Development Finance Corporation (DFC), the U.S. Government’s development bank, aims to support private sector investment and economic growth in Sri Lanka. DFC partners with […]

Kelum Bandara Courtesy The Daily Mirror The Cabinet today has approved a proposal to develop the East Container Terminal of Colombo Port fully under the control of Sri Lanka Ports Authority, but the West Container Terminal with a private investor as pledged in President Gotabaya Rajapaksa’s apology manifesto titled ‘Vistas of Prosperity and Splendour, a […]