Author Archive for Business

China to Build LNG-Fueled Power Plant at Hambantota

Friday, May 25th, 2018

BY MAREX  On Wednesday, Sri Lanka’s development and trade minister Malik Samarawickrama confirmed that Chinese investors have been cleared to build a $700 million natural gas-powered electrical station in the Chinese-run port of Hambantota. He first announced plans for Chinese state-owned engineering company Sinomach to build the plant earlier this month. The 400-gigawatt power plant will be fueled […]

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By the end of 2017, China has invested $15 bln worth of infrastructure projects in SL, says envoy

Wednesday, May 23rd, 2018

Courtesy NewsIn.Asia Colombo, May 23 (newsin.asia) – China, on Wednesday said that as of the end of 2017, Chinese companies had completed more than US 15 billion dollars worth of infrastructure projects in Sri Lanka and made great contributions to the economic and social development of the island country. China’s Ambassador to Sri Lanka, Cheng […]

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Mahendran played key role in singing FTA: Dayasiri

Tuesday, May 22nd, 2018

Ajith Siriwardana and Yohan Perera Courtesy The Daily Mirror SLFP MP Dayasiri Jayasekara alleged today that former Central Bank Governor Arjuna Mahendran, who was in Singapore, had played the key role in signing the Free Trade Agreement between Sri Lanka and Singapore. “Mr. Mahendran has been assigned the duties to function as the Sri Lankan representative […]

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Iran agrees to build new refinery for Sri Lanka: Official

Wednesday, May 16th, 2018

Courtesy Iran Daily Iran has agreed to build a new oil refinery for Sri Lanka in addition to upgrading its ageing 50,000 barrel per day (bpd) state-owned refinery, said Sri Lankan Cabinet spokesman Rajitha Senaratne on Wednesday. Iranian officials pledged the new refinery when Sri Lanka President Maithripala Sirisena made an official visit to Tehran […]

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Bus strike called off after govt agrees to 12.5% fare hike

Wednesday, May 16th, 2018

By Yusuf Ariff Courtesy Adaderana Private bus operators have decided to call off the strike action which was scheduled to commence from midnight today (16), after the government had reportedly agreed to increase the bus fares by 12.5%. During the discussion held today between representatives of private bus trade unions and ministers and government officials, the government […]

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Sri Lanka aims to control drought, floods through Chinese technology

Wednesday, May 16th, 2018

Courtesy NewsIn.Asia Colombo, May 16 (newsin.asia) – Sri Lanka is looking at the possibility of controlling droughts and floods through the use of Chinese Technology,  the local Daily Mirror, quoting Minister of Primary Industries and Social Welfare, Daya Gamage, said Wednesday. Speaking at the signing of project agreements under the World Bank aided Agriculture Sector […]

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China approves loan of US 1 billion for mega Central Expressway

Monday, May 14th, 2018

Courtesy NewsIn.Asia Colombo, May 14 (newsin.asia) – China, on Monday approved a loan of US 1 billion dollars to construct the phase one of the Central Expressway in Sri Lanka, the Prime Minister’s office said in a statement here. China’s Ambassador to Sri Lanka, Cheng Xueyuan met Prime Minister Ranil  Wickeremesinghe in capital Colombo and […]

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China expresses interest in investing in Sri Lanka’s agricultural sector

Sunday, May 13th, 2018

Courtesy NewsIn.Asia Colombo, May 13 (www.news.lk): Investors form China have expressed interest in expanding investments in Sri Lanka’s agriculture sector, according to Minister of Agriculture Mahinda Amaraweera. A special discussion headed by Minister Mahinda Amaraweera was held at the Ministry of Agriculture on Friday (10) with a delegation of the Agility Group in Guangdong province […]

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“දිවයින ඉරිදා සංග්‍රහය” යේ පලවූ “ඇවන්ගාඩ්ගෙන් ජරාව කෑ පොලිසියේ 300කගේ නම් එළියට” නමින් වූ පුවත බොරුවක්- ඇවන්ගාඩ් සමූහ ව්‍යාපාරයේ සභාපති, නිශ්ශංක සේනාධිපති

Sunday, May 13th, 2018

මාධ්‍ය නිවේදනය-සභාපති, ඇවන්ගාඩ් සමූහ ව්‍යාපාරය 2018 මැයි මස 13 වැනි දින “දිවයින ඉරිදා සංග්‍රහය” ජාතික පුවත්පතේ මුල් පිටුවේ ප්‍රධාන සිරස්තලය ලෙස ” ඇවන්ගාඩ්ගෙන් ජරාව කෑ පොලිසියේ 300කගේ නම් එළියට” ශීර්ෂපාඨය යටතේ ලිපියක් පළකර ඇත. මෙම ලිපියෙහි පළවී ඇති සියලුම කරුණු ඇවන්ගාඩ් ආයතනය වෙනුවෙන් එහි සභාපති විශ්‍රාමික මේජර් නිශ්ශංක සේනාධිපති වන මා දැඩි පිළිකුලෙන් යුතුව තරයේ […]

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‘Novichok’ brand now a rapidly-growing trademark for Russian products

Saturday, May 12th, 2018

Courtesy RT Many Russian companies are now registering products under the ‘Novichok’ trademark – the chemical the UK says poisoned ex-spy Sergei Skripal and his daughter Yulia. From sunflower oil to detergents, ‘Novichok’ is the new black. Read more ‘English tourists wanted a cocktail – we gave them one!’: Russian mixologist explains Novichok drink The […]

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Sri Lanka sharply raises fuel prices under IMF pressure

Thursday, May 10th, 2018

Courtesy Mail on line (UK) Sri Lanka has struggled to cut losses at the state-run Ceylon Petroleum Corporation, the country’s biggest oil company Sri Lanka hiked fuel prices Thursday by up to 130 percent following pressure from the International Monetary Fund and its central bank to reduce the burden of heavy subsidies on its struggling […]

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Sri Lanka to sign deals with Total, Schlumberger for seismic study

Saturday, May 5th, 2018

COLOMBO (Reuters) – Sri Lanka will sign agreements with French oil and gas major Total and a subsidiary of U.S. firm Schlumberger for a seismic study off its east coast to evaluate any prospective oil resources, a top official said on Friday. Vajira Dassanayake, the director general at Petroleum Resources Development Secretariat (PRDS), said a […]

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Sri Lanka approves $500 million LNG plant near Chinese-controlled port

Saturday, May 5th, 2018

COLOMBO (Reuters) – Sri Lanka’s state-run investment body has approved a $500 million liquefied natural gas plant by China Machinery Engineering Corp near a Chinese-controlled port and industrial zone, the development strategies minister said on Friday. The state-run Board of Investment has approved investment projects worth $1 billion in the first quarter, Malik Samarawickrama said, […]

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Sri Lanka’s Standard Chartered gears up for more business under China’s One Belt One Road

Friday, May 4th, 2018

Courtesy NewsIn.Asia Colombo, May 4 (newsin.asia) – Standard Chartered Bank, on Friday said it is setting up a ‘China Desk’ at its branch in Sri Lanka’s capital Colombo to encourage more Chinese companies to invest in the island under the One Belt One Road initiative. Sam Xu, Head of Transaction Banking at Standard Chartered in […]

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Sri Lanka’s new Odel mall to transform Colombo into shopping hub

Thursday, April 26th, 2018

Courtesy NewsIn.Asia Colombo, April 26 (newsin.asia) – Sri Lanka and China, on Thursday launched the construction of a mega luxury mall complex in the heart of Colombo which will transform the island’s capital into an attractive shopping destination in South Asia. Odel, owned by Softlogic Holdings Limited, will fund the construction of the new Odel […]

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Pakistan expresses interest in building hi-tech heart hospital in Sri Lanka

Tuesday, April 24th, 2018

By Editor  Courtesy NewsIn.Asia Colombo, April 24 (newsin.asia) – A group of investors from Pakistan, who arrived in Sri Lanka on Monday have expressed interest to construct a state of the art hospital in the island country to perform heart surgeries and to build two tourism zones as well as to construct a low-cost new housing scheme. The […]

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Sri Lanka makes it obligatory for tuk tuk’s to be metered

Friday, April 20th, 2018

Courtesy newsin.asia Colombo, April 20 (newsin.asia) – Sri Lanka’s Transport Ministry, on Friday said it had been made obligatory for all three wheel services in the island country to fix a meter and issue a receipt at the end of the trip. The new rule had been announced on April 1, but a two week grace […]

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Chinese company to invest US$ 8000 million in underground road network in Colombo Port City

Friday, April 13th, 2018

By Editor Courtesy NewsIn.Asia  Colombo, April 13 (Reuters): China Communication Construction Company (CCCC) will invest $800 million to build an underground road network to Sri Lanka’s Port City, a $1.4 billion project built on reclaimed land, a government minister said. The plan, for which an agreement has already been signed, is expected to reduce traffic congestion on […]

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මලික් සමරවික්‍රම මහතා ඉවත් කළ යුත්තේ ඇයි?

Wednesday, April 11th, 2018

ලසන්ත වික්‍රමසිංහ ලේකම් තොරතුරු තාක්ෂණ වෘත්තීයවේදීන්ගේ සංසදය තොරතුරු තාක්ෂණ වෘත්තීයවේදීන්ගේ සංසදය විසින් අද දහවල් පැවැත්වූ මාධ්‍ය සාකච්ඡාව සම්බන්ධ ප්‍රවෘත්තිය. අත්සන් කරන ලද සිංගප්පූරු-ශ්‍රී ලංකා ගිවිසුම මඟින් ශ්‍රී ලංකාව පාවාදීමකට ලක් කර ඇති බව තොරතුරු තාක්ෂණ වෘත්තීයවේදීන්ගේ සංසදය පෙන්වා දෙයි. සංවර්ධන උපායමාර්ග සහ ජාත්‍යන්තර වෙළදාම අමාත්‍යවරයා දැනුවත්ව රට පාවා දීමක නිරත වන නිසා ඔහුව එම තනතුරුන් […]

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CHINA-BUILT COLOMBO PORT CITY AIMS TO BE SOUTH ASIA’S HUB IN FIVE YEARS

Wednesday, April 11th, 2018

by Editor  April 11, 2018 Courtesy NewsIn.Asia Colombo, April 11 (newsin.asia): The US 1.4 billion State of the Art Colombo Port City (CPC), built by the China Harbor Construction Company (CHCC) in association with the Singapore-based designers Surbana Jurong group and the business advisory group Atkins Acuity, is expected to be South Asia’s commercial and entertainment hub […]

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SRI LANKA TO CALL FOR FRESH BIDS FOR OIL EXPLORATION IN MANNAR BASIN

Wednesday, April 11th, 2018

by Editor  April 11, 2018 Courtesy NewsIn.Asia Colombo, April 11 (newsin.asia) – Sri Lanka will call for fresh bids for an oil exploration block off the island’s northwestern coast in May, where traces of natural gas was discovered in 2011, Cabinet Spokesperson Rajitha Senaratne said Wednesday. Senaratne said that following a proposal by Minister of Petroleum Resources, […]

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SRI LANKA’S MEGA $1.4 BLN PORT CITY PROJECT READY TO BE MARKETED TO INVESTORS

Wednesday, April 11th, 2018

by EditorApril 11, 2018  Courtesy NewsIn.Asia Colombo, April 11 (newsin.asia) – China Harbour Engineering Company, which is constructing a mega 1.4 billion dollar Port City project close to the Colombo Harbour, on Tuesday evening presented the Colombo Port City’s Development Control Regulations (DCR) to the government which will now enable land to be sold to investors. […]

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Game of Loans: How China Bought Hambantota

Tuesday, April 3rd, 2018

CSIS Briefs Courtesy Center for Strategic and International Studies The Issue Unable to repay its debt, Sri Lanka gave China a controlling equity stake and a 99-year lease for Hambantota port, which it handed over in December 2017. The economic rationale for Hambantota is weak, given existing capacity and expansion plans at Colombo port, fueling concerns that it […]

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THE FIRST INDIGENOUS SRI LANKAN CAR WILL ROLL OUT NEXT YEAR

Tuesday, April 3rd, 2018

by EditorApril 3, 2018 Courtesy NewsIn.Asia Colombo, April 4 (newsin.asia): Towards the end of 2019, automobile loving Sri Lankans will see something they have been longing to see – a locally manufactured Sri Lankan” car vying for road space with international brands. Ideal Motors’ small car, not named yet, is to be made in collaboration with […]

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Sri Lanka: Bank Of China Opens First Branch

Sunday, April 1st, 2018

By Eurasia Review The Bank of China opened its first branch in Sri Lanka’s capital Colombo on Wednesday evening.Sri Lankan Prime Minister Ranil Wickremesinghe, who was the Chief Guest at the ceremony said the opening of the Colombo branch was an important step in strengthening the island’s economy and it opened a new chapter in the […]

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Sri Lanka’s re-developed Eastern airport set to boost tourism into former war ravaged areas

Monday, March 26th, 2018

By Editor newsin.asia Colombo, March 26 (newsin.asia) – Sri Lanka’s Transport Ministry, on Monday said a newly re-developed airport in Batticaloa, in eastern Sri Lanka, will boost tourism into the region and pave way for more flights to land there. The government information department said the Batticaloa Airport which was re-developed as a domestic airport was […]

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Colombo Port beats Jebel Ali in UAE and Savanah in US to rank 13th best connected Port

Monday, March 26th, 2018

By NewsIn.Asia  Colombo, March 26 (newsin.asia) – Sri Lanka’s Colombo Port has been ranked the 13th best connected port in the world in 2017, moving up five places from 18, a year earlier, an index compiled by Drewry, a UK based shipping and maritime consultancy, showed here Monday. Colombo had scored 28.6 points in the […]

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Colombo’s Port City calls for name change, offers Rs.100,000 to winner

Monday, March 26th, 2018

By Editor on March 26, 2018 newsin.asia  Colombo, March 26 (newsin.asia) – The Sri Lankan government together with China’s CHEC has put out advertisements in the Sri Lankan press calling upon Sri Lankans to suggest an attractive name for a mega 1.4 billion dollar port city project currently being constructed near the Colombo Harbour. Presently known as ‘Port City […]

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මයිලෝ එකේ පණුවෝ .මෙන්න සාක්ෂි – Nestle Milo Drink

Friday, March 9th, 2018

 

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Rajitha under fire for contracting Indians to wash hospital linen

Friday, March 9th, 2018

Courtesy The Island The Government Medical Officers’ Association (GMOA) yesterday called for a Presidential intervention to halt the outsourcing of the laundry in government hospitals to an Indian Company. GMOA Secretary Dr Haritha Aluthge warned that all health service trade unions would unite in fighting against such projects. Dr. Aluthge said the parties involved in […]

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