Author Archive for Business

Sri Lanka bonds go from Asia’s worst to best after China loan

Saturday, May 15th, 2021

Courtesy NewsIn.Asia Colombo, May 15 (Bloomberg) – Sri Lankan government debt is leading gains in Asian dollar bonds this year as investors bet that the nation will avoid defaulting on its short-term notes, with the help of a Chinese funding facility. Italian investment manager AcomeA SGR S.p.A., which added to its holdings of the nation’s debt […]

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Dambulla Economic Centre to reopen for trading tomorrow

Tuesday, May 4th, 2021

Courtesy Adaderana A decision has been taken to reopen the Dambulla Dedicated Economic Centre for trading from tomorrow (05), under strict health guidelines.  Ada Derana reported said that the economic centre would be opened for trading from 5.00 a.m. tomorrow. Major General Nishantha Manage, the Matale District Coordinating Officer for Covid-19 control, stated that permission […]

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Econsult Asia lists Colombo Port City’s multiple benefits for Sri Lanka

Monday, May 3rd, 2021

Shiran Illanperuma/The Morning Colombo, May 3: The Port City Colombo project is a potential game changer for the Sri Lankan economy, being the country’s first Special Economic Zone (SEZ) in decades, projected to add about 1% to annual GDP (Gross Domestic Product) growth over the next 25 years while creating over 230,000 jobs. SEZs with […]

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Colombo Port City – Projecting Sri Lanka as the newest commercial landscape in Asia – says Veemansa Initiative

Monday, April 19th, 2021

Press Release Veemansa Initiative Veemansa Initiative, an independent think tank recently held a Webinar on the proposed Colombo Port City Economic Commission Bill and related subjects. Based on the deliberations at the webinar and the follow-up analysis, it was evident that the Colombo Port City Project, a 100% foreign investment venture plans to attract a […]

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Sri Lanka to ban fabric imports

Wednesday, April 14th, 2021

Courtesy https://www.fibre2fashion.com/ Pic: ShutterstockSri Lanka is all set to ban the import of textile fabrics in a bid to protect domestic industry, the state minister for batik, handloom textiles and local apparel productions, Dayasiri Jayasekara, has announced. The relevant gazette notification has been approved by Parliament, and will be notified soon, the minister said last week. Jayasekara […]

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Network Airline Services (NAS) and Sri Lankan Airlines have operated three flights from Entebbe, Uganda, carrying delicacies of the sea.

Monday, April 12th, 2021

Courtesy Aviation Business news Sri Lankan Airlines operated various ad-hoc charters into Entebbe – a destination it doesn’t usually fly to. Within 24 hours NAS Nairobi managing director Sarah Wangui and the wider Entebbe team took advantage of the opportunity and generated a load consisting of fish maws across 135 pieces. Fish maws are considered […]

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SL to import dehydrated coconut chips to manufacture coconut oil

Monday, April 12th, 2021

Kelum Bandara Courtesy The Daily Mirror Sri Lanka will import 39,000 tonnes of dehydrated coconut chips to manufacture coconut oil to meet the local demand for edible oil without any shortage to be triggered otherwise by the ban imposed on palm oil, an official said. The Trade Ministry will sign a forward sales agreement with […]

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Sri Lanka will build South Asia’s first Disneyland

Thursday, April 8th, 2021

Courtesy NewsIn.Asia Colombo, April 8 (Daily News) – Sri Lanka will build South Asia’s first Disneyland in the proposed Bopitiya leisure Park which will be created by Korea Cavitation Co. a company with Investments from Malaysia and Korea. President of Korea Cavitation Co. Baekgeum Kim and the representative of Sri Lanka Dr. Parimala Rajo Isa […]

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Pakistani dates tickle Lankan taste buds

Thursday, April 8th, 2021

Courtesy NewsIn.Asia Colombo, April 8: The High Commission of Pakistan, in collaboration with Ministry of Commerce and Trade Development Authority of Pakistan (TDAP), organized a promotional event for Pakistani dates in Sri Lanka, at the High Commission in Colombo on Thursday.   In his remarks, the High Commissioner of Pakistan,  Maj. Gen (Retd.) Muhammad Saad […]

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President orders immediate ban on import of Palm oil

Monday, April 5th, 2021

Courtesy Adaderana President Gotabaya Rajapaksa has ordered the importation of Palm Oil into Sri Lanka to be halted with immediate effect. Secretary to the President P. B. Jayasundera has advised the Controller-General of the Department of Imports and Exports Control to issue the relevant gazette order to give effect to these instructions within today (April […]

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A pound of cinnamon quills can cost $27 — here’s why it’s one of the most expensive spices

Tuesday, March 30th, 2021

Taryn Varricchio and Emily Christian Courtesy Business insider https://www.businessinsider.com/why-ceylon-cinnamon-sri-lanka-so-expensive-2021-3?r=US&IR=T Ceylon cinnamon is made from the dried inner bark of a tree native to Sri Lanka. One pound of these quills can cost $27. That’s because it’s difficult and costly to produce. Even some of the most experienced cinnamon peelers can only make a few pounds of quills a day.  […]

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Lankan govt gazettes Special Economic Zone for Colombo Port City.

Monday, March 29th, 2021

Courtesy NewsIn.Asia Colombo, March 29 (DailyFT): A Bill to provide for the establishment of the Colombo Port City (CPC) Special Economic Zone has been published in the Gazette and is slated to be presented to Parliament next month.  The 76-page Bill provides for the establishment of a Commission empowered to grant registrations, licences, authorisations, and […]

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Lanka Property Show 2021 Virtual to Feature REAL TALK at the Virtual Conference

Tuesday, March 23rd, 2021

LankaPropertyWeb LankaPropertyWeb, Sri Lanka’s number one real estate portal will be hosting the first ever Lanka Property Show 2021 Virtual Conference. The event will be held alongside the Lanka Property Show 2021 Virtual Expo that is set to go live from the 26th to the 28th of March. The virtual conference will be conducted by […]

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Russian top billionaire Andrey Melnichenko visits Port City Colombo

Wednesday, March 17th, 2021

Courtesy The Daily Mirror Prominent Russian business tycoon Andrey Melnichenko visited Port City Colombo today.  He was accompanied by Sri Lankan-born British Politician and former EU Parliamentarian Niranjan Deva Aditya, a statement said. The statement said  Melnichenko is a self-made billionaire with major investments in Switzerland based fertilizer giant EuroChem Group and Russia based coal […]

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Adani gets govt nod to develop Colombo port terminal

Tuesday, March 16th, 2021

Courtesy Adaderana Adani Ports and Special Economic Zone Ltd. will work with Sri Lanka’s John Keells Holdings Plc to develop a port terminal in the island nation, Indian billionaire Gautam Adani’s first such standalone overseas project. India’s biggest private port operator got a letter of intent from Sri Lankan authorities to build and operate the […]

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Adani Ports-led consortium to develop West Container Terminal in Colombo

Monday, March 15th, 2021

Courtesy mint An APSEZ release said the WCT will be developed on a Build, Operate and Transfer basis for a period of 35 years as a public-private partnership. (AFP) APSEZ will partner with John Keells Holdings PLC, Sri Lanka’s largest diversified conglomerate, and with the Sri Lanka Ports Authority (SLPA) as a part of the consortium […]

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SABUDDHI and GARI sign MoU: Open new vistas in the field of SL’s academic research

Sunday, March 14th, 2021

‘SABUDDHI’ Organisation The ‘SABUDDHI’ Organisation, which works on fostering literature while encouraging connectivity between sports, art, and literature, signed a Memorandum of Understanding (MoU) with the Global Academic Research Institute (GARI) on 11 March. The agreement is aimed at collaborating on future academic and research work, as well as providing media support to the GARI […]

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ශ්‍රී ලාංකේය ශාස්ත්‍රීය පර්යේෂණ ක්ෂේත්‍රයේ පෙරළියක් ඇති කරමින් සබුද්ධි හා ගැරී එක් වෙයි…

Sunday, March 14th, 2021

සභාපති – සබුද්ධි. සබුද්ධි සහ ග්ලෝබල් ඇකඩමික් රිසර්ච් ඉන්ස්ටිටියුට් හෙවත් ගැරී (Global Academic Research Institute – GARI) ආයතනය අවබෝධතා ගිවිසුමකට (03 වැනිදා) එළැඹෙයි. එසේ එක් වන්නේ ඉදිරි ශාස්ත්‍රීය සහ පර්යේෂණ කටයුතුවලදී සහයෝගයෙන් කටයුතු කිරීමට මෙන් ම ගැරි ආයතනයට සබුද්ධි කවයෙන් මාධ්‍ය සහයෝගිතාව ලබා දීම උදෙසාය. ශ්‍රී ලංකාවේ ප්‍රමුඛතම අධ්‍යයන, සම්මන්ත්‍රණ සහ පර්යේෂණ ප්‍රකාශන මධ්‍යස්ථානයක් වන […]

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Construction of Sri Lanka’s first LNG power plant begins

Friday, March 5th, 2021

Courtesy Adaderana Construction of the Lakdhanavi Liquified Natural Gas Power Plant in Kerawalapitiya, was flagged off this morning (March 05) by Prime Minister Mahinda Rajapaksa. On completion, LNG Power Plant is set to become the first of its kind in the country. Construction of the power plant will be completed in two phases with the […]

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ලෝක වෙලදපල හොල්ලමින් ‘කුරුදු සිගරැට්’ ලංකාවෙන්.. බහුජාතික දුම්වැටි සමාගම් කලබලවී වට්ටන්න කුමන්ත‍්‍රණ…

Saturday, February 27th, 2021

උපුටා ගැන්ම ලංකා සී නිව්ස් ලංකාවෙන් කුරුඳු සිගරැට්ටුවක් ලෝක වෙළෙඳපොළට හඳුන්වා දීමට මේ වනවිට සියල්ල සූදානම් කර ඇතැයි වාර්තා වෙයි. මේ නිසාල බහු ජාතික දුම්වැටි සමාගම් කලබල වී ඇති අතර මෙම නිෂ්පාදනය එළි දැක්වීමට බාධා එල්ල කරමින් තිබෙන බව අනාවරණය වේ. මෙම කුරුඳු සිගරැට්ටු නිපදවීම සඳහා වසර 06 ක පමණ කාලයක් වෙහෙස මහන්සි වී තිබෙන […]

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Imran Khan offers to help SL get trade connectivity to Central Asia through CPEC

Wednesday, February 24th, 2021

Kelum Bandara Courtesy The Daily Mirror Visiting Pakistani Prime Minister Imran Khan, in his joint address to the media with Prime Minister Mahinda Rajapaksa, said he instructed his delegation to explore the possibility of increasing Sri Lanka’s trade connectivity to the Central Asian region through the China-Pakistan Economic Corridor (CEPC) t called by him as […]

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CBSL notice – Repatriation of Export Proceeds into Sri Lanka

Friday, February 19th, 2021

Courtesy Hiru News The Monetary Board has issued Rules as published in the Gazette Extraordinary No. 2215/39 dated 18.02.2021 in respect of receipt of export proceeds into Sri Lanka and conversion of such export proceeds into Sri Lanka Rupees. Accordingly, following Rules are imposed with effect from 18 February 2021 until further notice. 1. Every […]

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The Sri Lankan Real Estate Industry is on a Roll: Property Buyers are Flocking Back to the Market

Wednesday, February 17th, 2021

Lanka Property Web (Pvt) Ltd Since the turn of the year there has been an increase in real estate activity by property buyers and sellers”, said Sri Lanka’s leading property portal LankaPropertyWeb. The company stated that a comparison between the number of visits to lankapropertyweb.com during the month of January in 2020 and 2021, showed […]

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Lanka claims majority stake in Trincomalee oil tanks JV but India is non-committal

Wednesday, February 17th, 2021

By P.K. Balachandran/newsin.asia Courtesy NewsIn.Asia Colombo, February 17: Sri Lanka’s Energy Minister, Udaya Gammanpila, claimed on Wednesday that the Indian High Commissioner, Gopal Baglay, has agreed that a Joint Venture should be established to manage all the 84 oil tanks in Trincomalee and that the Ceylon Petroleum Corporation (CPC) should  be the majority shareholder with […]

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Sri Lankan shares end higher as industrial, material stocks gain

Wednesday, February 17th, 2021

Courtesy Reuters Feb 17 (Reuters) – Sri Lankan shares reversed from steep early losses to settle higher on Wednesday as industrial and material stocks advanced. * The benchmark stock index ended 0.10% higher at 7,588.34, having slumped as much as 2.57% earlier. The index has shed 5.1% over the last two sessions. * Activated carbon […]

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Ceylon Graphite poised to resume production at its K1 mine in Sri Lanka

Tuesday, February 16th, 2021

Courtesy proactiveinvestors.com “Production will scale over 2021 and beyond,” said Bharat Parashar, the miner’s CEO Mining was interrupted mining twice in 2020/21 due to the coronavirus (COVID-19) pandemic Ceylon Graphite Corp (CVE:CYL) (OTCMKTS:CYLYF) (FRA:CCY) has told investors it is set to resume output at its K1 asset in Sri Lanka now planned upgrades to the shaft […]

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PUCSL NODS FOR THE PPA OF 300 MW KERAWALAPITIYA LNG POWER PLANT: CHAIRMAN

Monday, February 15th, 2021

Press Release  The Public Utilities Commission of Sri Lanka (PUCSL), The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator approved the power purchase agreement to build 300 MW Kerawalapitiya Liquid Natural Gas power plant in Sri Lanka under the new chairmanship and the board members last week (13 Feb 2021). The power […]

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PUCSL grants approval for Kerawalapitiya LNG power plant

Monday, February 15th, 2021

Courtesy Adaderana The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, approved the power purchase agreement to build a 300 MW Kerawalapitiya Liquid Natural Gas power plant in Sri Lanka under the new chairmanship and the board members last week (13). The power purchase agreement will be signed by the Ceylon Electricity […]

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China’s gateway to Europe – the New Silk Road |

Sunday, February 7th, 2021

DW Documentary The “New Silk Road” is an enormous Chinese international development project. It’s a trade network that involves Asia, Africa, and Europe — and more than 70 countries are already involved. It may turn the old world order upside down. China is investing in bridges, port facilities, railroads, and roads around the world. Beijing […]

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Banks debiting money without informing account holders to be probed

Saturday, February 6th, 2021

Courtesy Adaderana Investigations will be carried out into certain banks debiting money without informing account holders, says State Minister of Finance and Capital Market and Public Enterprise Reforms Ajith Nivard Cabraal. Complaints regarding similar incidents have been received, the State Minister said adding that strict action will be taken against such banks. Cabraal noted that […]

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