Author Archive for Business

Sri Lanka asks IMF to revive US$1.5-billion bailout

Wednesday, January 16th, 2019

Courtesy Channel News Asia COLOMBO: Sri Lanka has appealed to the International Monetary Fund to revive a US$1.5-billion bailout suspended during the island nation’s political crisis late last year, the finance ministry said Wednesday (Jan 16). In October, President Maithripala Sirisena sparked weeks of high political drama, even featuring brawls in parliament, by sacking Ranil […]

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Singapore FTA: SL given visas to 242,000 foreign workers: Lakshman Yapa

Tuesday, January 15th, 2019

Lahiru Pothmulla Courtesy The Daily Mirror MP Lakshman Yapa Abeywardena said yesterday Sri Lanka has already given visas to some 242,000 foreign employees and the experts report on Singapore FTA has said this number could increase through the FTA. He said the experts committee which studied the Sri Lanka-Singapore Free Trade Agreement (SLSFTA) has verified the concerns […]

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Sri Lanka is officially the best place to visit in 2019. Here are 15 photos that will make you want to book a flight there ASAP

Sunday, January 13th, 2019

Tom Murray  Courtesy Insider Lonely Planet named Sri Lanka the number one country in the world to visit in 2019. Vast tea terraces, an abundance of wildlife, and stunning beaches (and much more) make Sri Lanka a truly unforgettable destination. I had the pleasure of visiting Sri Lanka in 2018 and I can’t recommend it enough. Here’s why […]

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Sri Lanka plans to import hybrid buses from China

Saturday, January 12th, 2019

Courtesy The  Gulf Today COLOMBO: Sri Lanka is in talks with China to import hybrid buses to upgrade the island’s public transport sector. State Minister of Transport and Civil Aviation Ashoka Abeysinghe said that he was in discussions with Chinese companies which manufacture hydrogen powered buses and hybrid buses and the procurement plan to purchase […]

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Rajapaksa’s Town: A Visit to Hambantota

Wednesday, January 9th, 2019

By Nicholas Muller Courtesy The Diplomat January 09, 2019  A look at developments in the stronghold of Mahinda Rajapaksa’s southern region of Hambantota In January 2015, when Maithripala Sirisena surprisingly defeated Mahinda Rajapaksa in Sri Lanka’s presidential election, the country was seemingly turning over a new chapter in its bloody recent history. In October 2018, President Sirisena’s […]

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Sri Lanka to buy hydrogen-powered and hybrid buses from China

Wednesday, January 9th, 2019

Courtesy NewsIn.Asia Colombo, January. 8 (Xinhua/newsin.asia): Sri Lanka is in talks with China to import hybrid buses to upgrade the island’s public transport sector, local media reported Tuesday. In a recent government survey, it is estimated that by 2030, more than 60 percent of the island’s population will depend on public transport to travel to […]

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Sri Lanka launches ‘WeChat Pay’ for Chinese tourists

Wednesday, January 9th, 2019

Courtesy NewsIn.Asia Colombo, Jan 9 (newsin.asia) – Sri Lanka’s banking sector, on Wednesday announced that Chinese tourists visiting the island country could pay for their goods and services through the ‘WeChat Pay’ facility in order to attract more Chinese tourism. Commercial Bank of Ceylon PLC, one of Sri Lanka’s leading private banks said the ‘WeChat […]

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India Delays Project to Modernize Key Sri Lankan Airport

Monday, January 7th, 2019

MOHAMMED RASOOLDEEN SOURCE: MCCLATCHY Courtesy aviationpros.com ON JAN 6, 2019 Jan. 06–COLOMBO — An India-led project to modernize a northern Sri Lankan airport has been delayed because of political instability, according to media reports citing an unnamed aviation official. India’s Ministry of External Affairs (MEA) has yet to give the green light for the Airport Authority of India […]

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CMC to collect a sewerage disposal service charge

Sunday, January 6th, 2019

Courtesy The Daily Mirror Colombo Municipal Council (CMC) has decided to impose a sewerage disposal service charge from commercial and industrial companies within the city. It is expected to earn Rs.667 million revenue with the introduction of this scheme of revenue. In replying to a question CMC member Sharmila Jayawardena Gonawala said proposal to collect […]

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Sino-Lankan joint venture CICT accounts for 38% of Colombo port’s volume

Tuesday, January 1st, 2019

Courtesy NewsIn.Asia   Colombo, January 1 (newsin.asia): Colombo International Container Terminals (CICT) has reported handling 2.65 million teus for the 12 months ending December 31, recording a 13 per cent increase in its annual throughput and contributing 38 per cent of the Port of Colombo’s volumes in the year just concluded. Colombo International Container Terminals […]

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“Sri Lanka is too weak to enter into FTAs like the one with Singapore”, says Presidential experts committee

Monday, December 31st, 2018

Courtesy NewsIn.Asia Colombo, December 31 (DailyFT): Free Trade Agreements (FTAs) are of no use” unless backed by a slew of reforms to make Sri Lanka’s economy more competitive, a highly-critical report from the Committee of Experts (CoE) appointed by President Maithripala Sirisena to evaluate the Sri Lanka-Singapore FTA has said. It recommends that any future […]

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Russia-India trade turnover to surge three-fold by 2025

Saturday, December 29th, 2018

Courtesy RT The volume of trade between Russia and India has been steadily growing and exceeded $10 billion last year. The two nations are aiming to boost trade and encourage investment. According to Russia’s Federal Customs Service, the trade turnover between Russia and India has been hovering between $8 billion and $10 billion over the […]

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SriLankan carrier ‘World’s Leading Airline to the Indian Ocean’

Wednesday, December 26th, 2018

Courtesy The Gulf Today Colombo: SriLankan Airlines, the National Carrier of Sri Lanka and a member of the oneworld alliance, won the prestigious ‘World’s Leading Airline to the Indian Ocean’ title once again at the Grand Final Gala Ceremony of World Travel Awards, in Lisbon, Portugal recently. Congratulating SriLankan Airlines, World Travel Awards Founder, Graham […]

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India Tea is likely to benefit from Sir Lanka wage hike

Friday, December 21st, 2018

Courtesy commodityonline Indian Tea is likely to gain benefit from wage hike in Sri Lankan plantations and pesticide problems in Vietnam. India is the second largest producer of Tea in the world and contributes 26% to the global production. The expected wage hike in Sri Lankan plantations is estimated to help South Indian orthodox production also. […]

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China Center for South Asian Studies and the Pathfinder Foundation Consolidate Ties

Thursday, November 8th, 2018

Gamini Sarath Godakanda Press Release Pathfinder Foundation A senior academic delegation led by the Vice President of Sichuan University Prof. Yan Shijing and the Director General of the newly established China Center for South Asian Studies (CCSAS) Prof. Sun Shihai visited Pathfinder Foundation (PF), to discuss ways and means of further strengthening links between the two […]

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Sri Lanka tourists grow by 0.5% in Oct.

Thursday, November 8th, 2018

Courtesy NewsIn.Asia Colombo, Nov 8 (newsin.asia) – More than 150,000 tourists arrived in Sri Lanka last month, recording a 0.5 percent growth when compared to the same period last year, official statistics from the Tourism Ministry showed here Thursday. According to the Ministry, the leading five markets were India, China, Britain, Germany and Australia. So […]

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The Pakistan Business Council (PBC) suggests increase in exports of bikes, cement to Sri Lanka

Saturday, October 20th, 2018

By Bilal Hussain  Courtesy The Express Tribune KARACHI: The Pakistan Business Council (PBC) has drafted a report focused on the free trade agreement (FTA) with Sri Lanka and has found motorcycle and cement manufacturing as potential industries that Pakistan can increasingly rely on. According to the PBC – a business policy advocacy platform, the purpose of the study is […]

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Indian Railways is all set to introduce a special train for Buddhist travellers across globe

Thursday, October 18th, 2018

Courtesy BI INDIA BUREAU IRCTC to launch special train to attract international tourists from Buddhist countries like Japan, China, Thailand and Sri Lanka. The first rake of the train will roll out by the end of October although the train will be functional from December. The train’s route will include important Buddhist destinations like Bodh Gaya, […]

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Will take care of debt issues of Belt and Road projects: China

Monday, October 15th, 2018

Courtesy The Daily Mirror China’s Vice Finance Minister Zou Jiayi has acknowledged debt issues with some of its ‘Belt and Road’ projects, saying the government will strengthen macro-supervision on the debt sustainability aspect of its overseas investments, the Reuters reported on Saturday. The debt sustainability issue of Belt and Road (projects) is a complicated issue, but […]

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Sri Lanka to sell hotel stakes, possibly within six months: finance minister

Tuesday, October 9th, 2018

Tom Wilson Courtesy reuters.com LONDON (Reuters) – Sri Lanka plans to put two state-owned hotel companies up for sale within the next six months in a sale that could raise $500 million for the island nation as it seeks to bolster its finances, the finance minister said on Tuesday. Sri Lanka faces repayments on expensive infrastructure […]

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Sri Lankan Airlines named World’s Most Punctual Airline in Sept.

Saturday, October 6th, 2018

Courtesy NewsIn.Asia Colombo, Oct 5 (newsin.asia) – Sri Lanka’s national air carrier, Sri Lankan Airlines, was named the ‘World’s Most Punctual Airline’ in September by global flight data analysis company ‘Flightstats’, a statement from the airline said here Friday. Sri Lankan airlines was selected under the key categories of ‘Global Airlines’ and ‘Major Airlines’. According […]

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Prez intervened when PM lashed out at businessman: SB

Thursday, October 4th, 2018

Sandun A Jayasekera Courtesy The Daily Mirror President Maithripala Sirisena had to intervene when Prime Minister Ranil Wickremesinghe became annoyed with a leading businessman at the National Economic Council (NEC) meeting held on Tuesday at the Presidential Secretariat and reconvened it after the suspension of the meeting for a few minutes, SLFP dissident group front liner […]

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China invests in new center in Sri Lanka to strengthen collaboration on marine sciences

Sunday, September 30th, 2018

Source: Xinhua COLOMBO, Sept. 29 (Xinhua) — Sri Lanka and China inaugurated a new building for the China-Sri Lanka Joint Centre for Education and Research (CSL-CER) at the University of Ruhuna (UOR), in southern Sri Lanka with the aim of strengthening marine science and research in the island country, the UOR said in a statement […]

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China to push forward cooperation with Sri Lanka under BRI

Friday, September 28th, 2018

Courtesy NewsIn.Asia Colombo, Sept 27 (newsin.asia) – China will continue to push forward its pragmatic cooperation with Sri Lanka under the Belt and Road Initiative in order to bring more tangible benefits between the two countries and its two peoples, China’s Ambassador to Sri Lanka, Cheng Xueyuan said here at the 69th anniversary celebrations of […]

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Lanka yet to finalise project proposals for 2 bn yuan grant * China made pledge in May 2017

Thursday, September 20th, 2018

By Shamindra Ferdinando Courtesy The Island Sri Lanka is yet to receive a two-billion-yuan (nearly USD 300 mn) grant from China as project proposals have not been finalised. President Maithripala Sirisena revealed that the Chinese offer in late July, 2018, at a ceremony to launch construction of a Chinese-funded kidney hospital in Polonnaruwa. Turning towards the […]

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Hauck to lead Galle Face Hotel in Sri Lanka

Thursday, September 20th, 2018

Courtesy breakingtravelnews.com The legendary Galle Face Hotel, which opened in 1864 and is the oldest hotel east of Suez, has appointed a new general manager and area vice president as it seeks to re-establish its position as Asia’s most illustrious and historic hotel. Robert Hauck, a highly skilled and respected hospitality professional with more than […]

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Sri Lanka imposes new measure to deter vehicle imports, aid faltering rupee

Thursday, September 20th, 2018

Courtesy www.reuters.com COLOMBO, Sept 20 (Reuters) – The Central Bank of Sri Lanka said it had enacted a new measure to deter vehicle imports and take pressure off the rupee, which is hovering at a record low, and to restore macro-economic stability. The new measure will require vehicle importers to deposit the full value of […]

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Thailand sees shortcut to Belt and Road with Sri Lanka trade deal

Thursday, September 20th, 2018

APORNRATH PHOONPHONGPHIPHAT, Nikkei staff writer Courtesy Nikkei Asian Review  Two nations to kick off bilateral FTA talks in Bangkok on Thursday BANGKOK — Thailand sees a planned trade deal with Sri Lanka as an opportunity to tap into China’s signature Belt and Road Initiative while hedging against fallout from the escalating global trade war. Representatives of the […]

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SriLankan Airlines to deploy A330 to Melbourne, Singapore; suspend Hong Kong operations

Thursday, September 20th, 2018

SriLankan Airlines stated (19-Sep-2018) it plans to make progressive changes” to its winter 2018/2019 schedule. As part of the changes, the carrier plans to deploy A330-300 aircraft on daily Colombo-Melbourne service from 28-Oct-2018 with plans to increase Colombo-Singapore capacity from 29-Oct-2018 with the deployment of A330 aircraft on the route. Frequency will also be increased from 17 […]

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SL has no plan to hand over strategic Palaly Airport to India – Transport Min.

Wednesday, September 19th, 2018

Courtesy Adaderana Sri Lanka has decided against giving control of Palaly Airport to India just days after the state-run Airport Authority of India made a move to develop it. Sri Lankan civil aviation minister Nirmal Sripala De Silva told the parliament that the government had no intention of handing over the airport to Indian authorities. […]

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