Author Archive for Business

No final decision on East Container Terminal taken yet, says Sri Lanka

Wednesday, November 11th, 2020

Meera Srinivasan  Colombo |  Courtesy The Hindu BusinessLine Although the Sri Lankan government is yet to declare its final position on developing the strategic East Container Terminal (ECT) at the Colombo Port jointly with India and Japan — agreed in May 2019 by the previous government — Port worker unions that are resisting the project […]

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Pathfinder and Huawei entered into a strategic partnership

Friday, November 6th, 2020

Pathfinder Advisory Services (Pvt.) Ltd Pathfinder Advisory Services (Pvt.) Ltd. recently signed a Memorandum of Understanding (MoU) with world’s leading information and communication technologies (ICT) solutions provider Huawei, to establish a framework to encourage, develop and ICT in Sri Lanka. The partnership will enable the two institutions to achieve a deeper understanding of the possibilities […]

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APSEZ front-runner to develop Sri Lanka’s Colombo port terminal

Wednesday, November 4th, 2020

Courtesy Ship Technology Adani Ports and Special Economic Zone (APSEZ), the flagship of India-based Adani Group, is in the lead to develop the stalled East Container Terminal at Colombo port in Sri Lanka. Adani Ports and Special Economic Zone (APSEZ), the flagship of India-based Adani Group, is in the lead to develop the stalled East […]

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Adani Group frontrunner for developing Sri Lanka’s port terminal: Report

Tuesday, November 3rd, 2020

Courtesy Business Standard Adani Ports and Special Economic Zone and a local partner received an in-principle approval to sign a deal with Sri Lanka Ports Authority, which will hold majority stake in the project

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What More UK: Burnley firm unveils Sri Lanka export deal

Saturday, October 24th, 2020

Courtesy Lancashire Telegraph What More UK director Tony Grimshaw OBE has unveild the company’s new export destination ONE OF the county’s most notable exporters has announced plans to extend its international reach further still with a deal to trade with Sri Lanka. Padiham-based What More UK hopes that the deal, which will make its range […]

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Future of the Tea industry in Sri Lanka; Who will pluck tea leaves in 10-15 years?

Monday, October 19th, 2020

By Raj Gonsalkorale In the tea industry, the tea taster reigns supreme. Yet strangely enough tea tasting begins with the plucker. This is because the taster’s judgment depends on how the leaves have been plucked. There are two forms of plucking: fine and coarse. The former is essential to a good cup of tea, and […]

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Reform of State Enterprises in Sri Lanka – Revival through a Singapore model to stop the haemorrhaging?

Saturday, October 17th, 2020

By Raj Gonsalkorale 55 largest SOEs delivered net Return on Assets (ROA) of only 0.64% in 2017. The combined losses among the loss-making entities reached Rs.87bn in 2017 compared to Rs.42bn in 2016. Some are in deep trouble. The Petroleum Corporation carries a negative equity. Sheer incompetence and corruption have pushed Sri Lankan Airlines close […]

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Airline Startup Of The Week: Sri Lanka’s Spark Air

Friday, October 2nd, 2020

Courtesy NewsIn.Asia The new upcoming airline was conceived by four former senior captains with SriLankan Airlines and other international airlines, citing a conducive environment to expand aviation in Sri Lanka. September 30 (Simple Flying) – Sri Lanka will be getting a new airline as of February 2021. The new startup, Spark Air, first plans to launch with […]

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Chinese and Sri Lankan governments set to discuss Colombo Port City project

Friday, October 2nd, 2020

Courtesy Ship Technology The Chinese and Sri Lankan governments are set to discuss the progress of Colombo Port City project, which is a planned offshore city in Sri Lanka. The Chinese and Sri Lankan governments are set to discuss the progress of Colombo Port City project, which is a planned offshore city in Sri Lanka. […]

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MT New Diamond claims have not been settled – AG

Thursday, October 1st, 2020

Courtesy Hiru News Attorney General has informed MEPA that negotiations pertaining to the claim regarding Marine Pollution caused by MT New Diamond are pending and  other claims have not been settled. MEPA informed the Attorney General that relevant authorities have been informed that approval permitting the MT New Diamond to leave will only be granted after […]

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Special unit to bring technology, research and innovation related services closer to general public

Wednesday, September 30th, 2020

Courtesy Adaderana The Ministry of Skills Development, Vocational Education, Research and Innovation has initiated measures to setup a coordinating unit to bring Technology, Research and Innovation related services closer to the general public, as well as to provide technical guidance in addressing the issues related to the said fields faced by the general public, in pursuance […]

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President explores possibility of producing school uniforms locally

Monday, September 28th, 2020

Courtesy Adaderana President Gotabaya Rajapaksa explored the possibility of assigning the larger percentage of supply of school and security forces uniform material to local industrialists, today (28). President emphasized that it is imperative to commence the production of standard and high quality textiles immediately, stated President’s Media Division. President made these comments following his inspection […]

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Sri Lanka scraps $1.5 bil Japan-funded light rail system

Thursday, September 24th, 2020

By Ishara S. KODIKARA Courtesy Japan Today Sri Lanka’s president has ordered the termination of a $1.5-billion Japanese-funded light rail project, saying it is not a “cost-effective solution” for the congested capital Colombo, officials said Thursday. The deal signed under the previous government is the largest single foreign-funded infrastructure project in Sri Lanka, and was […]

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We are targeting 500 listed firms for next 5 years: State Minister Cabraal

Sunday, September 20th, 2020

Courtesy Adaderana The Colombo Stock Exchange (CSE) should aim at increasing the number of listed companies from the current number of about 200 to 500 firms, State Minister for Finance, Capital Market and Public Enterprise Reforms Ajith Nivard Cabraal stated. The digitalization will take away from you, from the brokers as well as the market players a […]

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Street vendors’ survival instinct sees them through the pandemic

Thursday, September 17th, 2020

By Dr. Lopamudra Maitra Bajpai Courtesy NewsIn.Asia During the lockdown in Sri Lanka, the rich and the poor alike got their daily bread from the humble itinerant “choon paan” man Street vendors and hawkers are ubiquitous part of everyday business. The secret of their survival even under stressful conditions is that they are very adaptable to […]

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With a ministry of its own now, Sri Lanka’s Batik industry is poised for growth

Monday, September 14th, 2020

By B.A.Hussainmiya Courtesy NewsIn.Asia B.A.Hussainmiya suggests integration of the dispersed cottage industry to enable it to grow both stylistically and economically. Colombo, September 14 (newsin.asia): In the latest round of Ministerial appointments made by the new Gotabaya Rajapaksa government in Sri Lanka, the Batik industry has been given an elevated status. For the first time, […]

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Sri Lanka realty battle heats up

Sunday, September 13th, 2020

Sambit Saha   |   Calcutta Courtesy The Telegraph (India) Multiple cases being fought over the fate of the $300-million Altair project declared as a ‘flagship foreign investment project’ in the island nation wo strands of a bruising court battle are looming on either side of the Palk Strait as a clutch of top builders from Calcutta mount legal […]

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USD 300 mn tyre factory for Hambantota

Thursday, September 3rd, 2020

Courtesy The Daily News Minister of Industries Wimal Weerawansha and Hambantota International Port Group (Private) Limited (HIPG) held a meeting regarding a proposal to set up a tyre factory in Hambantota at the Ministry of Industries, Colombo 03 recently. HIPG CEO Ray Ren said the first tyre factory was to be built with an investment […]

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Floating storage trading facility in H’tota from Pearl Energy

Friday, August 28th, 2020

Daily News  Pearl Energy (Pvt) Ltd., signed an agreement with the Board of Investment of Sri Lanka to launch ‘Hambantota LNG Hub’ – a floating storage LNG trading facility at the Port of Hambantota, bringing LNG to the doorstep of Sri Lanka, with a primary aim of trading LNG in the region utilizing the strategic […]

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SriLankan Airlines continues to fly to selected international destinations despite global lockdown

Thursday, August 27th, 2020

Courtesy Adaderana SriLankan Airlines says that the airline continues to fly to selected international destinations including Italy- Milan, United Kingdom-London, Japan – Tokyo, Maldives- Male, Germany- Frankfurt, France- Paris and Australia-Sydney during the current global lockdown period. Passengers who are intending to travel with the airline to these destinations and beyond are requested to book […]

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Sri Lanka is seeking JV opportunities, investments from Qatar

Wednesday, August 26th, 2020

Santhosh V. Perumal Courtesy Gulf Times Sri Lanka is seeking joint venture opportunities and investments from Qatar, especially for its Port City Colombo’s infrastructure, as part of strategies to strengthen the bilateral trade between the two countries. In a webinar hosted by Doha Bank on Wednesday, Sanjaya Mohottala, director general, Board of Investments of Sri […]

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දේශීය පාවහන් සහ සම්භාන්ඩ කර්මාන්තයප්‍රවර්ධනය සඳහා නව රජයෙන් වැඩපිළිවෙලක්

Wednesday, August 19th, 2020

ලංකා කාර්මික සංවර්ධන මණ්ඩලය කොවිඩ් 19 වසංගත තත්ත්වය හමුවේ අඩපන වූ පාවහන් සහ සම්භාණ්ඩ කර්මාන්ත ක්ෂේත්‍රයට නව පනක් ලබාදිමේ අරමුණින් සෞභාග්‍යයේ දැක්ම ප්‍රතිපත්ති ප්‍රකාශනය අනුව ගරු කර්මාන්ත අමාත්‍ය විමල් වීරවංශ අමාත්‍යතුමාගේ දේශීය කර්මාන්ත නගාසි‍ටුවීමේ සංකල්පය මත ලංකා කාර්මික සංවර්ධන මණ්ඩලයේ සම්භාන්ඩ නිෂ්පාදන හා පාවහන් සංවර්ධන මධ්‍යස්ථානයේ මැදිහත්වීමෙන් ‘Made in Sri Lanka’ දීපව්‍යාප්ත දේශීය සම්භානණ්ඩ නිෂ්පාදන […]

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Colombo Dockyard to construct six Eco Bulk Carriers

Wednesday, August 19th, 2020

Courtesy Ship Technology Colombo Dockyard (CDPLC) is set to start the construction of six Eco Bulk Carriers for Norwegian company Misje Eco Bulk. The contract also includes four optional Eco Bulk Carriers. Initially signed in March, the contract is expected to become effective next month after receiving the owner’s final board approval. The 89.95m-long vessels […]

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Valachchenai paper factory releases first stock of paper to the market

Sunday, August 2nd, 2020

Courtesy Hiru News The first batch of paper produced at the closed Valachchenai Paper Mill was released to the market today. Accordingly 40 tons of paper was released to the market.

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3,000 million relief for electricity consumers

Thursday, July 30th, 2020

Courtesy Hiru News The Ceylon Electricity Board states that it has decided to provide a concession of Rs. 3 billion to all electricity consumers for the months of March, April and May. 6.7 million customers are entitled to this concession and only the fee mentioned in the February bill has to be paid for the […]

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Sri Lanka, UK discuss stepping up bilateral trade and investment

Saturday, July 25th, 2020

Courtesy Adaderana Foreign Relations Minister Dinesh Gunawardena and the Minister for International Trade of the UK Ranil Jayawardena have discussed stepping up bilateral trade and investment and expanding the areas of cooperation during a recent teleconference. The Ministry of Foreign Affairs said this was the first official interaction between the two Ministers. Both Ministers welcomed […]

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Brutalised and forgotten Sri Lankan cinnamon peelers recognised in new research

Friday, July 24th, 2020

By Larissa Romensky and Jo Printz Courtesy ABC News Dilhani Dissanayake wants everyone to know a cinnamon peeler is actually a person and not a tool. Key points: Cinnamon comes from the inner bark of a tree and is a spice native to Sri Lanka The spice was discovered by the Portuguese in the 16th century […]

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Lanka to facilitate, protect and promote liberal ecosystem for Indian investors, says Foreign Secretary Aryasinha

Thursday, July 23rd, 2020

Courtesy NewsIn.Asia He was speaking at the webinar on ‘Deepening Economic Collaboration between India and Sri Lanka’, organised by Federation of Indian Chambers of Commerce and Industry (FICCI) and the Lakshman Kadirgamar Institute of International Relations and Strategic Studies on 21 July 2020. Colombo, July 23 (newsin.asia): Sri Lankan Foreign Secretary Ravinatha Aryasinha said that […]

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S. Korea’s 3rd largest conglomerate keen on $600 mn. LNG project in SL

Thursday, July 23rd, 2020

Courtesy The Island SK E&S Co. Ltd., or SK Group, South Korea’s third largest conglomerate (Chaebol) is currently in talks with the Sri Lankan authorities on the establishment of a number of investment ventures in Sri Lanka, including a $600 million LNG project. The proposed project would be able to supply LNG to 930 MW […]

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Eyeing China, India plans solar power park in Sri Lanka

Wednesday, July 22nd, 2020

Utpal Bhaskar Courtesy Livemint By leveraging the country’ solar expertise, India’s largest power generation utility NTPC Ltd plans to set up this project in the island nation under the aegis of International Solar Alliance New Delhi: India plans to set up a solar power park in Sri Lanka as part of a concerted strategy to […]

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