Author Archive for Business

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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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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