Author Archive for Business

Government Releases List Of Countries Where UPI Payments Are Accepted

Monday, February 12th, 2024

Courtesy NDTV UPI is an instant real-time payment system to facilitate inter-bank transactions through mobile phones. India has been proactive in extending the reach of UPI globally Payments through India’s Unified Payments Interface (UPI) will now be accepted in seven countries after its launch in Sri Lanka and Mauritius on Monday. After the announcement, MyGovIndia, a […]

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Sri Lanka to import 15,000 tonnes of cashew nuts in shell

Tuesday, February 6th, 2024

Courtesy Adaderana The Cabinet of Ministers has granted approval to import 15,000 tonnes of cashew nuts in shell since the country’s annual requirement of cashew nuts in shell has not been met due to the fact that the crops have not been harvested as expected in the last season.  Joining the Cabinet press conference held […]

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FTA with Thailand to bring a range of goods to Sri Lanka

Friday, February 2nd, 2024

Courtesy The Daily Mirror Thailand, Feb. 02 (Bangkok Post) The Free Trade Agreement (FTA), which is expected to be signed between Thailand and Sri Lanka this week, will benefit Thailand’s exports of automotive parts, textiles, electrical appliances, machinery, steel products, paper, processed food and animal feed, Thai media reported. Thailand and Sri Lanka will sign […]

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Colombo Port sees surge in ship arrivals due to Red Sea crisis

Monday, January 29th, 2024

Courtesy Adaderana Sri Lanka’s Minister of Ports, Shipping and Aviation Nimal Siripala de Silva has stated that the recent increase in the number of ship arrivals at the Colombo Port is likely due to the Red Sea crisis. Accordingly, the Minister revealed that the number of ships docking at the Colombo Port has increased by […]

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Meet the Willy Wonka of Newfoundland — originally from Sri Lanka

Saturday, January 20th, 2024

Courtesy CBC This baker’s true passion is his gourmet chocolate business Chamira Milinda is the owner of Chocolate de Champ, a small homemade chocolate business he runs out of his home in L’Anse au Loup, a community on Labrador’s southern coast. Since moving to Labrador from his home in Sri Lanka in 2012, Milinda has been working full time in […]

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ටෙලිකොම් ගන්න අම්බානි, අලිරාජා එයි..

Monday, January 15th, 2024

උපුටා ගැන්ම ලංකා සී නිව්ස් ශ්‍රී  ලංකා ටෙලිකොම් සමාගම පෞද්ගලීකරණය කිරීමේ ක්‍රියාදාමය යටතේ එහි කොටස් ආයෝජනය සඳහා සුදුසුකම් ප්‍රකාශ කළ සමාගම් තුනක් සම්බන්ධයෙන් රාජ්‍ය ව්‍යවසාය ප්‍රතිව්‍යුහගතකරණ ඒකකය විසින් ඇගයීම් සිදු කිරීමට නියමිතය. රාජ්‍ය ව්‍යවසාය ප්‍රතිව්‍යුහගතකරණ වැඩපිළිවෙළ යටතේ මෙම සමාගමේ රජය සතු කොටස් සඳහා ආයෝජනය කිරීමට සුදුසුකම් ප්‍රකාශ කිරීමේ අවසන් දිනය පසුගිය සිකුරාදා (12දා) අවසන් වූ […]

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Mukesh Ambani’s Jio Platforms may invest in Sri Lanka Telecom – report

Monday, January 15th, 2024

Courtesy Adaderana Indian billionaire Mukesh Ambani has plans to expand his horizons in the telecommunications business through his firm Jio Platforms, expressing interest in buying stake in Sri Lanka Telecom PLC, the state-owned telecom company, Indian media reported. The Sri Lankan government has been struggling with the cash-strapped Telecom PLC, as current authorities continue to […]

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Buy mobile phones only if approved by TRCSL

Wednesday, December 27th, 2023

Courtesy The Daily Mirror Colombo, Dec. 27 (Daily Mirror) – The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) today announced that people should only buy mobile phones that have been approved by the Commission. Addressing the media TRCSL Deputy Director of Compliance, Ms. M. Pathirana, requested consumers check the IMEI number to verify the phone […]

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China’s Colombo port logistic centre gets generous tax relief

Monday, December 25th, 2023

By Namini Wijedasa/Sunday Times Colombo, December 24: President Ranil Wickremesinghe, in his capacity as Investment Promotion Minister, on Friday gazetted the initiative under the 2008 Strategic Development Projects Act (SDPA), stating that the aim was to turn the Colombo Port into a logistics hub for South Asia. The use of the SDPA goes contrary to […]

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Ministers of Justice and Health on collision course with association of banks

Sunday, December 24th, 2023

By Shamindra Ferdinando Courtesy The Island Wijeyadasa pushes for suspension of Parate executions: ‘Country paying heavy price for not having proper tax regime, favourable treatment to some’ Justice, Prisons Affairs and Constitutional Reforms Minister Dr. Wijeyadasa Rajapakse, PC, has assured the local business community, troubled by parate executions, that laws will be brought in to regulate […]

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රටින් එන බිත්තරවල මිල මෙන්න… “මෙහෙම කරන්නේ මිල පාලනය කරන්න”

Saturday, December 16th, 2023

Ada Derana

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Cabinet nod to award design and construction of Ratmalana Railway Diesel Power Set Factory to China Civil Engineering Construction Company

Tuesday, December 12th, 2023

Courtesy The Island The Cabinet of Ministers approved the proposal presented by the Minister of Transport and Highways to award the contract for the design and construction of the Ratmalana Railway Diesel Power Set Factory under the Railway Efficiency Improvement Project which is being implemented under Asian Development Bank funds, to China Civil Engineering Construction […]

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“Govt. to develop facilities for cruise terminal”

Monday, December 11th, 2023

Courtesy Daily News Creating a unique record in the Sri Lankan cruise segment Aitken Spence Travels, brought 4,000 passengers from three vessels on a single day on Sunday. The simultaneous arrivals of three cruise ships—Vasco Da Gama, Mein Schiff 5, and MS Seven Seas Navigator on December 10, 2023, at the port of Colombo also helped […]

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Colombo Port City vital for Sri Lanka’s economic transformation.

Friday, December 8th, 2023

Courtesy Pakistan Observer he Colombo Port City has great potential to facilitate the economic transformation Sri Lanka seeks, Central Bank Governor Nandalal Weerasinghe said on Thursday. Weerasinghe told reporters that the Colombo Port City is likely to become a global commercial hub featuring local and international businesses. We believe this project will change the fate […]

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LankaPropertyWeb Partners with eMediaLinks to Promote Sri Lankan Properties to Chinese and North American Investors

Wednesday, December 6th, 2023

LankaPropertyWeb  LankaPropertyWeb (LPW), Sri Lanka’s leading property platform, is excited to announce its new partnership with eMediaLinks, the exclusive partner with Weibo North America and house.sina.com. This collaboration enables the promotion of Sri Lankan property investment opportunities to Weibo’s extensive audience in China, as well as the real estate platform’s audiences in the USA and […]

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US examined Hindenburg allegations before giving loan to Adani

Tuesday, December 5th, 2023

Courtesy The Economic Times Synopsis Adani-Hindenburg: The Hindenburg Research allegations of corporate fraud against Gautam Adani didn’t impact the US decision to grant up to $553 million for a Sri Lankan terminal. The US agency, DFC, found the accusations were not relevant to Adani’s specific project. The US government concluded that short-seller Hindenburg Research’s allegations […]

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SLRC and SLBC to be converted into a public company – Bandula

Tuesday, November 28th, 2023

Courtesy Adaderana It was disclosed at the Ministerial Consultative Committee on Mass Media that the Sri Lanka Rupavahini Corporation (SLRC) and the Sri Lanka Broadcasting Corporation (SLBC) continue to incur losses.  This was revealed when the relevant committee met in Parliament on Thursday (Nov. 23) under the Chairmanship of the Minister of Transport and Highways […]

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Global Economic Forum Summit at Asia’s Biggest Convention Centre BMICH Colombo Sri Lanka

Saturday, November 25th, 2023

ANI Global Economic Forum Summit at Asia’s Biggest Convention Centre BMICH Colombo Sri LankaRead more At:https://www.aninews.in/news/business/business/global-economic-forum-summit-at-asias-biggest-convention-centre-bmich-colombo-sri-lanka20231125171429/

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Sri Lanka to OK Sinopec’s $4.5 bln refinery proposal on Monday -minister

Saturday, November 25th, 2023

Courtesy Reuters.com COLOMBO, Nov 25 (Reuters) – Sri Lanka will likely approve on Monday a proposal from Chinese state refiner Sinopec to build a $4.5-billion-dollar refinery, the South Asian island nation’s energy minister said on Saturday. “It’s on the agenda for Monday. Once the cabinet gives approval, we will invite them to sign the agreement,” […]

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Sri Lanka launches 70 MW ground-mounted solar auction

Monday, November 13th, 2023

Courtesy PV Magazine  Sri Lanka’s government-owned Ceylon Electricity Board (CEB) is inviting applications for the development of 1 MW to 5 MW ground-mounted solar projects – totaling 70 MW – with 20-year power purchase agreements (PPA). The Sri Lankan government’s CEB has kicked off a 70 MW ground-mounted solar tender in the South Asian country. […]

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Sri Lanka calls for revisiting FTA

Sunday, November 12th, 2023

Courtesy Express Tribune Collaboration between private sectors, regular exchanges of trade delegations is essential for improved ties. KARACHI: Consul General of Sri Lanka Jagath Abeywarna mentioned that despite 75 years of good diplomatic relations and a Free Trade Agreement (FTA) since 2005, Sri Lanka-Pakistan trade volume remains ‘insignificant’ at US $440 million due to certain […]

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Sri Lanka to impose maximum penalties on smugglers amid revenue loss concerns

Sunday, November 12th, 2023

Xinhua   In response to escalating revenue losses, Sri Lanka Customs plans to enforce maximum penalties for individuals smuggling over 100 grams of gold and substantial quantities of restricted items including mobile phones, a spokesman said Sunday. A recent report from the Parliamentary Committee on Ways and Means highlighted a loss of 1.4 billion rupees in […]

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Sri Lanka to part-sell its national carrier

Wednesday, November 1st, 2023

By Feizal Samath Courtesy TTGAsia The Sri Lankan government this week invited bids from the global industry to run and manage the island’s national carrier, SriLankan Airlines, which has been suffering accumulated losses over the years. While the airline has reported an operating profit for the period April 2022 to end March 2023, its accumulated debt […]

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China set to build new Sri Lanka refinery, says Minister

Tuesday, October 31st, 2023

Courtesy Adaderana Sri Lanka is set to award a multi-billion dollar oil refinery project to a Chinese state-owned company after a rival bidder pulled out, the energy minister said Tuesday. Kanchana Wijesekera said the government would shortly enter into an investment agreement with Sinopec to build the refinery next to the Chinese-run port at the […]

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Lycamobile’s French company bosses fined and jailed for money laundering

Sunday, October 29th, 2023

Courtesy The Sunday Times Lycamobile’s French companies were on Thursday fined 10mn euros by a Paris court for money laundering and value-added tax (VAT) fraud. The group’s former chief executive officer Christopher Tooley also received a prison sentence and a heavy fine for complicity in the VAT fraud, agency reports said. Lycamobile, owned by Subaskaran […]

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China and Sri Lanka issue joint statement on expanding win-win cooperation

Friday, October 20th, 2023

Courtesy CGTN The People’s Republic of China and the Democratic Socialist Republic of Sri Lanka issued a joint statement on Friday deepening bilateral traditional friendship and expanding mutually beneficial cooperation. The China-Sri Lanka strategic cooperative partnership based on sincere mutual assistance and everlasting friendship has become a fine example of friendly interactions and mutually beneficial […]

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Former UK Prime Minister David Cameron highlights Colombo Port City’s crucial role

Wednesday, October 18th, 2023

Courtesy Hiru News Former British Prime Minister David Cameron emphasized the pivotal role of Colombo Port City in Sri Lanka’s economic prosperity during his participation in a promotional event in Dubai. The event’s theme underscored the investment opportunities in the “Now is the time to invest in the port city of Colombo, Sri Lanka.” It […]

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Ferry service from Tamil Nadu to Sri Lanka rescheduled 

Sunday, October 15th, 2023

N. SAI CHARAN Courtesy The Hindu As per the revised schedule, the high-speed craft Cheriyapani will ply between the two places only on October 16, 18, 20, and 23, say sources. A day after its launch, the operation of the high-speed passenger ferry service between Nagapattinam in Tamil Nadu and Kankesanthurai in the northern province […]

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Plans afoot to establish Japan-Sri Lanka Free Trade Zone to boost economy

Saturday, October 14th, 2023

Courtesy Adaderana State Minister of Investment Promotion Dilum Amunugama on Friday (Oct. 13) announced plans to establish a Japan-Sri Lanka Free Trade Zone here. The lawmaker mentioned that Bingiriya and Iranavila areas have been selected for this purpose. His remarks came during a news conference at the Presidential Media Centre, held under the theme ‘Collective […]

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Hambantota Port surpasses half a million transshipment units, outpacing previous RORO records

Friday, October 13th, 2023

Courtesy The Daily Mirror The HIP RORO team Vehicles awaiting transhipment at the RORO yard The Hambantota International Port (HIP) has achieved a milestone by handling over half a million transshipment units by September, exceeding the port’s previous year’s roll-on/roll-off (RORO) figures. As the global economy recovers gradually, we continue to aggressively market our location […]

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