Author Archive for Business

New CB Governor assures clear and firm guidance to all economic stakeholders

Thursday, September 16th, 2021

Courtesy The Island The Central Bank will soon announce a policy package in the form of a short-term Roadmap to provide clarity with regard to the movement of Sri Lanka’s macro-economic fundamentals, Central Bank Governor Ajith Nivard Cabraal said after taking office yesterday. The Central Bank’s first and urgent priority under my watch, will be […]

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Colombo light rail MoU signed in South Korea

Thursday, September 16th, 2021

Courtesy The Daily Mirror KCI Metro Link Korea Co and the GBK Consortium of more than 15 South Korean companies have signed a memorandum of understanding to undertake a feasibility study for a light rail line running north from Colombo to Bandaranaike International Airport and Negombo, along with an associated mixed use development. The project […]

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Sri Lanka’s Capital Alliance enters Bangladesh

Monday, September 13th, 2021

Courtesy The Daily Star Sri Lanka’s Capital Alliance (CAL) has recently made a foray into Bangladesh’s brokerage business. CAL is Sri Lanka’s leading investment bank, offering integrated investment and capital market solutions, and this becomes its first overseas foray. CAL will hold a majority stake of CAL Securities, the company said in a press release […]

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Sri Lanka’s economic crisis poses challenges for India

Thursday, September 9th, 2021

Srejita Nandy Courtesy Livemint.com Our Neighbourhood First policy had led to increased economic cooperation with Sri Lanka but its economy is in deep trouble and India’s relations with it have taken a turn for the worse this year India’s ‘Neighbourhood First’ policy towards Sri Lanka had resonated with Sri Lanka’s ‘India First’ foreign and security […]

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CBSL imposes 100% cash deposit margin requirements on selected non-essential/non-urgent imports

Thursday, September 9th, 2021

Courtesy Adaderana The Central Bank of Sri Lanka has decided to impose a 100 per cent cash margin deposit requirement against the importation of selected goods of non-essential/non-urgent nature made under Letters of Credit and Documents against Acceptance terms with Licensed Commercial Banks and National Savings Bank, with immediate effect.  The decision has been made […]

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Sri Lanka Targets Hoarders, Bad Traders To Tackle Food Shortages

Monday, September 6th, 2021

Courtesy European Supermarket Magazine Sri Lanka plans to bring in new laws to deter hoarding and increase penalties on traders to tackle food shortages caused largely by the country’s deteriorating forex reserves. Shortages of essential foods including rice, sugar and milk powder in recent months pushed the government to declare a food emergency last week, empowering authorities to seize stocks […]

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ජනපති විධායක බලය පෙන්වයි.. සීනි ටොන් 29000ක් පවරා ගනී.. සමාගම් ලයිස්තුව මෙන්න.. පිරමිඩ් විල්මාත් ඒ අතරයි..

Wednesday, September 1st, 2021

lanka C news ගබඩා තුළ සඟවා තිබියදී සොයාගත් සීනි මෙට්ට්‍රික් ටොන් 29,900ක ප්‍රමාණයක් අද (01) සිදු කෙරුණු විමර්ශන සහ මෙහෙයුම් ක්‍රියාවලියෙන් පසු රජයට පවරා ගත් බව අත්‍යාවශ්‍ය සේවා කොමසාරිස් ජනරාල් මේජර් ජෙනරාල් එන්.ඩී.එස්.පී. නිවුන්හැල්ල මහතා පවසයි. මෙම සීනි තොගය පාලන මිලක් යටතේ රාජ්‍ය සහ පෞද්ගලික වෙළෙඳ ආයතන මගින් පාරිභෝගික ජනතාව වෙත අළෙවි කිරීමට සැලසුම් කර […]

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Chinese pharma company to set up Covid-19 vaccine plant in Sri Lanka

Sunday, August 15th, 2021

Courtesy The Daily Mirror China and Sri Lanka are set to deepen their bilateral vaccine diplomacy” with a leading Chinese pharma company preparing to set up a manufacturing plant to make anti-Covid jabs in President Gotabaya Rajapaksa’s home district, Hambantota The new plant will be set up under an agreement that will allow Colombo to […]

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Hambantota port to manufacture yachts for a Maldivian company

Wednesday, August 11th, 2021

Courtesy NewsIn.Asia Hambantota, August 10 (Xinhua/HIP): Sri Lanka’s Hambantota International Port (HIP) signed a 58-million-U.S. dollar deal with Maldivian company Sea Horse Yachts on Monday to assemble and export yachts from HIP’s industrial park. Namal Rajapaksa, minister of youth and sports and state minister of digital technology and enterprise development, told Xinhua that the project […]

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HEINEKEN LANKA Begins Local Brewing of Flagship Heineken® Beer in Sri Lanka

Friday, August 6th, 2021

Courtesy WEBWIRE HEINEKEN LANKA today announced the commencement of local brewing operations of its flagship beer brand – Heineken® in Sri Lanka. With this, Sri Lanka joins an elite group of 60 countries that have the license and approvals from its global parent for local manufacturing operations. This move signifies the importance of the Sri […]

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Sri Lanka beckons Indian pharma companies to Hambantota

Sunday, August 1st, 2021

Amiti Sen  Courtesy The Hindu Officials of Sri Lankan Investment Board, Pharma Manufacturers Association to hold virtual meet with investors on August 5 Sri Lanka is seeking to invite potential investors from India to set up manufacturing operations in the new Hambantota Pharmaceutical Zone and is likely to offer a number of incentives, including tax […]

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World’s largest star sapphire cluster will be sold at gem auction in China

Thursday, July 29th, 2021

Courtesy NewsIn.Asia Colombo, July 29 (Daily Mirror) – The world’s largest star sapphire cluster which was found in a backyard in Pelmadulla is expected to be sold at a gem auction in China in November, the Daily Mirror learns. State Minister of Gem & Jewellery related Industries Lohan Ratwatte told Daily Mirror that the cluster […]

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10 things we love about Sri Lankan cuisine

Monday, July 19th, 2021

By Eroshan Meewella Courtesy Olive Eroshan Meewella, co-founder of Kolamba in London’s Soho, tells us what makes the food of his homeland so special Want to learn about Sri Lankan cuisine? Take a virtual trip to this South Asian country with Eroshan Meewella, co-founder of Kolamba in London’s Soho. Try Kolamba’s parippu recipe here, then read our review of Kolamba.  […]

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EXPORT BACKLOG IN ICDs Colombo-bound ships to get priority in berthing

Monday, July 12th, 2021

Dwaipayan Barua Courtesy The Daily Star The Chittagong Port Authority (CPA) yesterday took some decisions, including prioritising berthing for Colombo-bound feeder vessels, aiming at clearing out exports piling up at private inland container depots (ICD). It will also give priority berthing to feeder vessels carrying export-laden containers. It also decided to permit two feeder operators […]

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Sri Lanka quells debt concerns

Monday, July 12th, 2021

Courtesy Capital Global Asia Sri Lanka’s dollar bonds bounced back at the end of last week, following news that the country’s central bank is ready to repay debt set to mature this month.

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Finance Min. denies reports on halting import of non-essential luxury goods

Sunday, July 4th, 2021

Courtesy Adaderana The Ministry of Finance says the government has not taken a decision to impose restrictions on the import of non-essential luxury goods. Recent media reports claimed that the government is mulling the restrictions of electronic appliance including mobile phones, televisions and refrigerators as wells as perfumes, deodorants and other similar items. It was […]

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Sri Lanka bunker market in full throttle on ports progress, India monsoons

Thursday, June 24th, 2021

Courtesy S&P Global Trincomalee, Hambantota may see more sales during India monsoons Hambantota port to be developed as strategic energy center Colombo Port City Special Economic Zone to facilitate shipping, logistics Sri Lanka’s bunker market is likely to ride a wave of growth as it develops its Hambantota port, among other initiatives, while also welcoming […]

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Port City on the Beira: looking a gift horse through its derriere

Tuesday, June 22nd, 2021

by Jolly Somasundram Courtesy The Island I thought I saw a turquoise sea, billowing smooth and bright. Wrong! It was an emerging Republic, a 700 acre wee sovereignty, Passport and flag ready, she awaits an anthem, to enter the UN. Defying scurrilous on-line disinformation, out of nothing came something.” It has been done or has […]

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China bails out Republic of Congo with second debt restructure

Tuesday, June 22nd, 2021

Jevans Nyabiage  Courtesy The South China Morning Post Xi Jinping responds positively to direct appeal from his Brazzaville counterpart to renegotiate terms of US$2.4 billion loans A renewed agreement with Chinese lenders will help the central African country unlock funding from the IMF China has once again come to the rescue of the Republic of Congo, […]

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Sri Lanka signs USD 100 mn LoC with India for solar energy projects

Wednesday, June 16th, 2021

Courtesy Adaderana ndia became the first country to partner with Sri Lanka in fulfilling the vision of President Gotabaya Rajapaksa, to ensure that 70% of Sri Lanka’s national power requirements are fulfilled by renewable energy sources by 2030, as reiterated during his address at the recently concluded Sri Lanka Investment Forum. In this context, an […]

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Sri Lanka’s EDB concerned over EU resolution to withdraw GSP+

Monday, June 14th, 2021

Courtesy fibre2fashion.com Pic: ShutterstockSri Lanka’s Export Development Board (EDB) recently expressed concern over the resolution adopted by the European Union (EU) parliament calling on the European Commission to consider the temporary withdrawal of Sri Lanka’s generalised scheme of preferences plus (GSP+) status for the latter’s persistent failure to adopt and enact human rights reforms and repeal the Prevention […]

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CEYPETCO fuel prices hiked from midnight today

Friday, June 11th, 2021

Courtesy Adaderana The Ceylon Petroleum Corporation (CEYPETCO) has decided to increase fuel prices with effect from midnight today (June 11), the Ministry of Energy says. The fuel price revision has increased prices of Petrol 92 Octane by Rs. 20, Petrol 95 Octane by Rs. 23, Diesel by Rs. 7, Super Diesel by Rs. 12 and […]

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Indian envoy in Sri Lanka seeks stable and predictable policies

Thursday, June 10th, 2021

Courtesy NewsIn.Asia Colombo, June 10 (newsin.asia): The Indian High Commissioner in Sri Lanka Gopal Baglay has emphasized the need for stable and predictable policies” for the promotion of economic interactions between India and Sri Lanka. Speaking at a session dedicated to India on June 9, at the Sri Lanka Investment Forum (SLIF) 2021 organized in […]

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Small Sri Lanka harbors big maritime ambitions

Sunday, June 6th, 2021

Courtesy Kuwait Times COLOMBO: In this photograph taken on June 4, 2021 a container vessel is being offloaded at the East Terminal of the Colombo port. – AFP COLOMBO: The dramatic recent fire on a container ship off Sri Lanka highlighted the risks involved in the island nation’s ambitions to become one of the world’s busiest […]

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Passengers from SL will not be allowed to travel to UK after June 8: SriLankan Airlines

Saturday, June 5th, 2021

Courtesy The Daily Mirror The SriLankan Airlines announced today that passengers from Sri Lanka will not be allowed to travel to the United Kingdom from June 8 unless they are a British, Irish national or anyone with residence rights in the UK as Sri Lanka will move to the red list” of countries entering the […]

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Ill-fated container vessel MV X-Press Pearl used to call at Colombo port frequently

Friday, June 4th, 2021

By Camellia Nathaniel/Daily News   Colombo, June 4: Sri Lankan Ports and Shipping Minister Rohitha Abeygunawardena told the media here on Thursday that the fire on-board the container vessel MV X-Press Pearl was an unfortunate incident which was beyond anyone’s control. Refuting allegations that the Port authorities had allowed the ship to enter Sri Lankan waters while […]

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Members appointed to Port City Economic Commission

Monday, May 31st, 2021

Courtesy Adaderana President Gotabaya Rajapaksa today (May 31) appointed members to the Colombo Port City Economic Commission. President’s Counsel Gamini Marapana has been appointed as the Chairman of the Commission. Remaining members of the Commission are: S. R. Attygalle – Secretary to the Treasury Dr. Priyath Bandu Wickrama – Secretary to the Ministry of Water Supply and Drainage […]

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Three airports open from tomorrow

Monday, May 31st, 2021

Courtesy Adaderana Three airports, including the Bandaranaike International Airport (BIA), will be open to the public from tomorrow (June 01), State Minister of Aviation D. V. Chanaka said. However, the number of passengers allowed to arrive in the country will be restricted, he said. The number of passengers that are allowed on a single flight […]

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MV X-Press Pearl: Incorrect claims regarding the ship are being circulated

Thursday, May 27th, 2021

Courtesy Hiru News The owner of the distressed vessel X-Press Pearl, X-Press Feeders stated today (27) that the reports of which that the container ship was denied entry to Hazira Port in India and Hamad Port in Qatar are incorrect. Explaining further, they noted that the ship had undergone discharge and loading operations in both […]

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Colombo elevated highway project handed over to CHEC

Tuesday, May 25th, 2021

Courtesy The Daily Mirror The Cabinet approval was granted to award the contract for the construction of the elevated highway to Kelaniya New Bridge (NKB) via Rajagiriya connecting Outer Circular Highway at Athurugiriya to the China Harbour Engineering Company (CHEC), co-cabinet spokesman, Energy Minister Udaya Gammanpila said. Addressing the weekly cabinet briefing at the Information  […]

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