Author Archive for Business

Several Sri Lankan Airlines flights diverted to Mattala due to bad weather

Thursday, April 18th, 2019

Courtesy NewsIn.Asia Colombo, April 17 (newsin.asia) — Several Sri Lankan Airlines flights arriving at Sri Lanka’s Bandaranaike International Airport on Wednesday, were diverted to a southern airport due to adverse weather, local media reports said.Some of the flights included UL 315, which was arriving from Malaysia, UL 365 arriving from Jakarta and UL 303 arriving […]

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Govt. defies environment lobby, opts for dirty power

Tuesday, April 16th, 2019

By Ifham Nizam Courtesy The Island The government would go ahead with the proposed plan 2019 to establish 2700 MW of fossil fuel fired power stations by year 2020, a senior ministry official said. Ministry Secretary Dr. Suren Batagoda said that there would be 300 MW new LNG Combined cycle at Kerawalapitya by WindForce Consortium, […]

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Sri Lanka to offer free visas to tourists from 30 countries, including US

Tuesday, April 16th, 2019

USA TODAY Sri Lanka aims to boost its tourism efforts by giving away free visas to travelers from more than 30 countries.  The small island nation off southern India will offer the promotion starting May 1 to travelers from the United States, Canada, the United Kingdom, the European Union, Australia, New Zealand, Thailand, Singapore, Malaysia […]

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SpiceJet to start non-stop flights to Colombo, Jeddah, 5 other international destinations

Monday, April 15th, 2019

By: PTI |Courtesy Financial Express Riyadh and Kathmandu are two upcoming international destinations for the airline. SpiceJet will launch direct flights from Mumbai to seven international destinations, including Colombo, Jeddah, Dhaka, Riyadh and Hong Kong. Direct flights would also be operated from Mumbai to Bangkok and Kathmandu. The no-frills airline would start the services from the end of […]

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Scientists Baffled: Pillows Older Than 3 Years Infested With Millions of Germs in 99% Of Cases

Sunday, April 14th, 2019

Courtesy latestbuzztoday.com Scientific studies show that sleep is one of the most crucial parts of living a happy and stress-free life, but many adults are still sleeping with inferior pillows. If you find yourself feeling tired or discouraged throughout the day even after a long sleep the night before, it’s probably due to you unknowingly […]

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Chinese Investments: Malaysia Dares Something Sri Lanka, Pakistan, And Philippines Didn’t

Sunday, April 14th, 2019

Panos Mourdoukoutas Courtesy forbes.com In dealing with China, Malaysia has dared to do something Sri Lanka, Pakistan, and the Philippines didn’t: bring Beijing back to the negotiating table to cut the cost of the investment projects assigned to Chinese contractors. This week, China agreed to cut the cost of East Coast Rail Link project by […]

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Rolls-Royce to supply MTU rail engines for CRRC

Sunday, April 14th, 2019

Courtesy Machinery Market. Rolls-Royce Power Systems (www.rrpowersystems.com) and Chinese company Dongfang Electric International Corporation have reached agreement on the supply of four MTU 12V 4000 R41 rail engines to be installed in ‘railcars’ made by CRRC (based in China and the world’s largest train manufacturer), and operated by Sri Lanka Railways.  This is the fourth […]

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CEO: SriLankan Airlines targets breakeven within three years

Friday, April 12th, 2019

Courtesy Air Transport World New SriLankan Airlines CEO Vipula Gunatilleka is hoping to reach breakeven within three years by renegotiating aircraft leases, substituting the airline’s Airbus A350 order for A330-900neos, growing the network, and reopening destinations. Former TAAG Angola Airlines and SriLankan Airlines CFO Gunatilleka rejoined the Sri Lanka flag carrier in summer 2018 and became […]

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Continuous power cuts have adverse impact on economy – Chambers of Commerce

Friday, April 12th, 2019

RANMINI GUNASEKARA Courtesy Ceylon Today The continuous power cuts carried out by the Ceylon Electricity Board has adversely affected exports and potential Foreign Direct Investments, claimed Executive Committee Member of the Federation of the Chambers of Commerce, Dr. Krishanth Wisenthige today (10). He was speaking at a ‘Professionals for a Better Future (Viyathmaga)’ press conference […]

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Sri Lanka builds fastest railway line first time after independence with China’s assistance

Wednesday, April 10th, 2019

Courtesy Business Today The project was financed by the Export-Import Bank of China (China Exim Bank) and the contract was awarded to the China National Machinery Import and Export Corporation The Sri Lankan government on Monday inaugurated its fastest railway line, which has been built with the assistance of the Chinese government. Sri Lanka finished […]

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Canadians to help Sri Lanka build 100-MW floating solar park

Wednesday, April 10th, 2019

Courtesy Renewables Now April 10 (Renewables Now) – The governments of Sri Lanka and Canada have signed a cooperation agreement for the construction of a 100-MW floating solar park in Sri Lanka’s Maduru Oya Reservoir. The pact between Sir Lanka’s Ministry of Power and Energy and Business Development and the Canadian Commercial Corporation (CCC), a federal […]

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Buying Power from Multinationals

Tuesday, April 9th, 2019

By Garvin Karunaratne Power Cuts to the extent of 2 to 3 hours has been the order of the day and the news is just out that we are about to buy 500MW of Power from three Multinationals Agrico, V Power included, our estimated excess requirements for the next 5 years.. What is also important […]

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Video story on Sino-Lankan Colombo International Container Terminal

Tuesday, April 9th, 2019

Courtesy NewsIn.Asia Colombo, April 9: The Colombo International Container Terminals (CICT) in which the China Merchants Port Holdings Company Limited is a partner, has reported handling 2.65 million teus for the 12 months ending 31st December 2018, recording a 13 percent increase in its annual throughput and contributing 38 percent of the Port of Colombo’s […]

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Importing exotic cows which performed poorly under local conditions

Tuesday, April 9th, 2019

By Ananda Wickramasinghe View(s): In 2017, over 5000 young pregnant cows (heifers) imported from Australia and New Zealand, were sold to some farmers. They were assured that a cow would yield 20 litres/day. Within a few months, the farmers’ expectations started to shatter when the cows failed to produce the promised milk yields. Currently, farmers […]

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Sri Lanka rolls out free visa on arrival for UK tourists

Monday, April 8th, 2019

Courtesy  travelmole.com Sri Lanka is to offer free visas on arrival to tourists from the UK and 30 other countries from next month. The country’s tourist office is hoping to build on a good performance for March, when visitor numbers increased by 5%. The free visa period will operate for six months from May 1. […]

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Over 240,000 tourists arrive in Sri Lanka in March

Monday, April 8th, 2019

Courtesy NewsIn.Asia Colombo, April 8 (newsin.asia) – Over 240,000 tourists arrived in Sri Lanka in March, growing 4.6 percent compared to the same period last year, statistics from the Sri Lanka Tourism Development Authority showed here Monday.India, United Kingdom, China, Germany and France were Sri Lanka’s top five international touristgenerating markets in the month of March […]

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Present power crisis – The Chinese factor

Monday, April 8th, 2019

By Dr. Janaka Ratnasiri Courtesy The Island In response to the writer’s previous articles on the present power crisis published in the Island of March 28th and April 05th, he has received from an investor some new information which would shed light on the real party behind the present power crisis. This investor claims that […]

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Sri Lanka’s national air carrier to kick off 5-year strategic business plan

Friday, April 5th, 2019

Source: Xinhua| Editor: Shi Yinglun Courtesy Xinhua COLOMBO, April 5 (Xinhua) — Sri Lanka’s national air carrier, Sri Lankan Airlines, on Friday said it had formulated a five-year strategic business plan to transform the island country into a strategic hub for air travel and air cargo in the Asia-Africa-Middle East region. The plan will be […]

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Asian Infrastructure Investment Bank puts $320m towards projects in Sri Lanka and Laos

Friday, April 5th, 2019

By GCR Staff Courtesy  Global Construction Review The Asian Infrastructure Investment Bank (AIIB) has announced funding for projects worth $280m in Sri Lanka and $40m in Laos. In the case of Sri Lanka, $200m will go towards low-income housing in Colombo. Some 5,500 homes will be given to people living in dilapidated housing with poor […]

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US$280 million funding for Sri Lanka

Friday, April 5th, 2019

Andy Brown Courtesy International Construction Colombo is the largest city in Sri Lanka The Asian Infrastructure Investment Bank (AIIB) has announced funding of US$280 million for two projects in Sri Lanka. The money is for two projects – US$200 million for improving housing conditions for low-income communities in Colombo by constructing affordable housing and redeveloping […]

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SriLankan Airlines to be sold to LTTE-funded company, trade unions claim

Thursday, April 4th, 2019

Courtesy Adaderana SLFP-affiliated trade unions of SriLankan Airlines today claimed that the government is preparing to sell Sri Lanka’s national carrier to a company which is ‘operating with LTTE funds’. Representatives of the Sri Lanka Nidahas Sevaka Sangamaya – Sri Lankan Airlines, addressing a press conference today, vowed to resort to strict trade union action […]

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Sri Lanka tea plantations under investigation for labour rights

Wednesday, April 3rd, 2019

 by Lucy Patchett in Ethics, Supply chain, Sustainability  Courtesy  cips.org Sri Lankan tea plantations in the central highland district of Nuwara Eliya are being investigated by the Rainforest Alliance and the Fairtrade Foundation for abusing labour workers rights and breaching ethical label standards. Investigations are underway, confirmed The Rainforest Alliance and the Fairtrade Foundation, and said […]

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Australian cattle exported to Sri Lanka dying and malnourished, local farmers left suicidal

Wednesday, April 3rd, 2019

Exclusive by Lorna Knowles, ABC Investigations and Siobhan Heanue, South Asia correspondent Courtesy ABC News PHOTO: Cows on Lammermoor Estate in Sri Lanka were part of the Australian export program. (ABC News: Siobhan Heanue)RELATED STORY: Aus jerseys hand-picked for Sri Lanka Hundreds of Australian and New Zealand cattle have died in a Federal Government-backed export deal with Sri Lanka, which […]

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H’tota oil refinery a money laundering project: UPFA

Tuesday, April 2nd, 2019

Ajith Siriwardana and Yohan Perera Courtesy The Daily Mirror The Hambantota oil refinery project was not a genuine investment but is an attempt at money laundering to bring down money earned illegally through the Central Bank bond scam, UPFA MP Shehan Semasinghe said yesterday. He told parliament that Transparency International had also cast aspersions with […]

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‘Investment in Lankan oil plant is at a very preliminary stage’

Sunday, March 31st, 2019

 Bharani Vaitheesvaran, ET Bureau The proposed refinery near the Hambantota port is the largest foreign direct investment project in Sri Lanka. By Bharani Vaitheesvaran, ET Bureau|Read more at://economictimes.indiatimes.com/articleshow/68641214.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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Sri Lankan-backed Hungarian Airline Taxiing for Takeoff

Sunday, March 31st, 2019

Robin Marshall Budapest Business Journal A Sri Lankan-based company with a 50-year history in tourism is launching what it calls the newest Hungarian airline to take to the skies”: RonanAir. RonanAir is a scheduled Hungarian airline set to commence operations in summer 2019,” Rihaab Mowlana, media & marketing consultant for the company told the Budapest […]

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OMAN OIL CONSIDERS UP TO 30% STAKE IN SRI LANKAN REFINERY

Sunday, March 31st, 2019

Muscat Daily staff writer MUSCAT –  Clarifying Oman’s intention to invest and participate in a large oil refinery project in Sri Lanka, H E Dr Mohammed bin Hamad al Rumhi, Minister of Oil and Gas has said that Oman Oil Company is considering the feasibility of participation in the Sril Lankan project. In a statement to […]

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Deal for new Sri Lanka oil refinery will take at least a year to finalize – investor

Saturday, March 30th, 2019

Courtesy NewsIn.Asia New Delhi/Colombo, March 29 (Reuters): An agreement to build a proposed $3.85 billion oil refinery in Sri Lanka will take at least a year to be finalized as its main investor, India’s Accord Group, says it is yet to recruit partners and conduct an assessment of the plan’s viability. The comments add to […]

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හම්බන්තොටට එනවා කියන ලංකාවේ ලොකුම විදෙස් ආයෝජනය එන්නේ ආමර් වීදියේ කඩයක් ලගින්.. ලියාපදිංචි කර ඇත්තේ කැබිනට් අනුමැතියටත් පසුයි…

Wednesday, March 27th, 2019

lanka C news March 28, 2019 at 3:30 am | lanka C news පසුගිය දා හම්බන්තොට මිරිජ්ජවිල දී මුල්ගල් තැබූ තෙල්පිරිපහදු ව්‍යාපෘතියේ ප්‍රධාන ආයෝජකයා වන සිල්වර්පාක් ඉන්ටර්නැෂනල් පුද්ගලික සමාගම තිබෙන්නේ ආමර් වීදිය ප්‍රදේශයේ බව පාර්ලිමේන්තු මන්ත්‍රී නාමල් රාජපක්ෂ මහතා පවසයි. පාර්ලමේන්තුවේ දී ඔහු මේ බව පැවසීය. හම්බන්තොට තෙල් පිරිපහදුවකට මුල් ගල තිබ්බා. ජාත්‍යන්තර මාධ්‍යයක් කිව්වා […]

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Trial: Sri Lanka To Eliminate Visa Requirements For Some

Tuesday, March 26th, 2019

Courtesy onemileatatime.com I’m a big fan of countries eliminating barriers to entry, whether that comes in the form of removing the hassle or cost associated with visiting. Over the past few months we’ve seen quite a few countries shake up their visa requirements, both for better and worse. It looks like the latest country to […]

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