Author Archive for Business

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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MMBL-Pathfinder launches ‘Pathfinder Vimana’ drone technology initiative

Thursday, July 16th, 2020

Gamini Sarath Godakanda As part of its post-COVID investment strategy, Pathfinder Capital of MMBL-Pathfinder Group has launched the ‘Pathfinder Vimana’ initiative aimed at developing advanced civilian drone technology solutions for Sri Lanka. The project will entail Pathfinder Capital creating a network of alliances and partnerships, with advanced drone technology providers across the globe. In the […]

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Bureau Veritas’ Sri Lanka lab gets accredited for masks

Wednesday, July 15th, 2020

Courtesy fibre2fashion Katubedda, Sri Lanka laboratory of Bureau Veritas, a leading testing, inspection and certification provider for consumer goods and healthcare industry, has got ISO/IEC 17025 accreditation for testing medical/surgical face masks. This will help face mask buyers and suppliers worldwide to test medical masks, including full EU market entry scope, in this lab. With […]

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We’ve financed apparel manufacturer Brandix for Personal Protective Equipment production

Wednesday, July 15th, 2020

Courtesy WEBWIRE Colombo – WEBWIRE – Wednesday, July 15, 2020 Standard Chartered Sri Lanka announced today that Brandix is the latest company to complete a drawdown from the Bank’s global USD1 billion COVID-19 financing commitment, underscoring its ongoing efforts to support local businesses in the pandemic response. Standard Chartered’s extension of USD12 million funding will assist the production switch […]

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Sri Lanka suspends international airport’s reopening

Tuesday, July 14th, 2020

By Feizal Samath Courtesy TTG Asia The reopening of Sri Lanka’s Colombo International Airport has been delayed indefinitely, after repatriation flights were suspended due to a spike in Covid-19 infections last week. This marks the second postponement of the reopening of the country’s main international airport, after authorities announced last month that its initial August 1 reopening would […]

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Chinese technicians committed to keeping power supply going in Sri Lanka amid COVID-19

Monday, June 29th, 2020

Courtesy People’s Daily Online Ms. Lyu, please tell me your mother’s name. I’ll pray for her at the temple,” a Sri Lankan engineer said to his Chinese colleague, Lyu Zeying. Lyu is a high-pressure welder with China Machinery Engineering Corporation, the Chinese contractor of the Puttalam coal-fired power plant in Sri Lanka. The power plant […]

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Reopening of airports to be delayed?

Sunday, June 28th, 2020

Courtesy Ada Derana Minister Prasanna Ranatunga says that the complete reopening of airports may be delayed due to the increased number of registrations to arrive in the country. Previously it was targeted to reopen the airports in Sri Lanka from August 01 and the country will be open for tourists. Considering that situation, the date […]

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මහ බැංකුවේ මුදල් මණ්ඩලයට රාණි ජයමහ සහ සමන්ත කුමාරසිංහ (වීඩියෝ)

Wednesday, June 24th, 2020

උපුටා ගැන්ම  හිරු පුවත් ශ්‍රී ලංකා මහ බැංකුවේ මුදල් මණ්ඩලයට ආචාර්ය රාණි ජයමහ සහ සමන්ත කුමාරසිංහ පත් කිරීමට අද රැස්වූ ව්‍යවස්ථාදායක සභාවේ අනුමැතිය හිමිවී තිබෙනවා. මුදල් මණ්ඩලයේ පුරප්පාඩුව පැවති සාමාජිකයන් දෙදෙනා සඳහායි මෙම පත්කිරීම් සිදුවන්නේ .

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CC approves Dr. Ranee Jayamaha and Samantha Kumarasinghe to CBSL Monetary Board

Wednesday, June 24th, 2020

Courtesy Adaderana The Constitutional Council has approved the appointment of Dr. Ranee Jayamaha and Samantha Kumarasinghe to the Monetary Board of the Central Bank of Sri Lanka (CBSL). A Constitutional Council meeting was held today (24) at the Speaker’s Residence under the patronage of its Chairman and former Speaker of the Eighth Parliament Karu Jayasuriya. […]

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President sets one year deadline for Lanka Salt to earn profit.

Wednesday, June 24th, 2020

Courtesy Adaderana President Gotabaya Rajapaksa has given one year’s time to Lanka Salt Limited which runs at a loss since 2018 to earn profit, the President’s Media Division said. The profit earned by the Lanka Salt Limited in 2016 stood at Rs. 70 million. In 2017 it declined to Rs. 32 million. The organization made […]

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Central Bank approves Rs. 28 billion loans for businesses affected by COVID-19

Wednesday, June 24th, 2020

Courtesy Adaderana Having identified the urgent need of reviving the businesses adversely affected by the COVID-19 outbreak and thereby to promote economic activity in the country, the Central Bank and the Government of Sri Lanka launched a novel refinance facility under the Saubagya (Prosperity) Loan Scheme, as announced today (24). The Central Bank has approved […]

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Lanka prepares to launch global tourism campaign

Friday, June 19th, 2020

Courtesy Gulf Times Sri Lanka’s Tourism Promotion Bureau (SLTPB) is planning to launch a long-awaited multi-million-dollar global tourism promotion campaign in January 2021 if tourism does not bounce back to the pre-Covid level in two years, local media reported.Currently, the final terms of references (TOR) of the five-year campaign are being reviewed by an appointed […]

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Etihad to resume services from Sri Lanka to key cities

Thursday, June 18th, 2020

ABU DHABI, Courtesy Trade Arabia Effective June 20, Etihad Airways will operate twice-weekly scheduled services for outbound passengers from Colombo to key destinations on its global network via Abu Dhabi. EY265 will depart Colombo on Thursdays and Saturdays at 1.35am, landing in Abu Dhabi at 4.30am local time. From Abu Dhabi, the service connects to […]

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Central Bank appoints committee to probe irregularities in finance leasing businesses

Wednesday, June 17th, 2020

Courtesy Adaderana A three-member committee has been appointed to inquire into illegal activities of finance leasing businesses and unauthorized finance bodies, says the President’s Media Division (PMD). The committee is chaired by the Director General of Legal Affairs of the Presidential Secretariat, Attorney-at-Law Harigupta Rohanadeera. Director of Legal and Compliance Department of CBSL K.G. Sirikumara, […]

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