Author Archive for Business

Sri Lankan Food Exporters Get Opportunity to Showcase to the ‘One Trillion Yuan’ Chinese Market (Heading)

Saturday, October 23rd, 2021

China Council for the Promotion of International Trade (CCPIT) Sri Lankan Exporters of food items will soon have the opportunity of accessing the gigantic Chinese food market with the China Council for the Promotion of International Trade (CCPIT) hosting the second China On-Line Import Fair and matchmaking of Food and Agro products (CIFFA) from November […]

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China offers to invest USD 800 million in renewable energy projects in Sri Lanka

Thursday, October 21st, 2021

Courtesy Adaderana The China National Energy Engineering and Construction Company Limited (CNEE), a Chinese state-owned energy conglomerate, has offered to invest USD 800 million on 400 MW Renewable Energy Projects in Sri Lanka.  The equipment and knowhow will be supplied by KE Electric, according to the Sri Lankan Embassy in Beijing. Ambassador of Sri Lanka […]

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China’s example in biodiversity protection worth learning: leading Sri Lankan conservation advocate

Wednesday, October 20th, 2021

Courtesy NewsIn.Asia Colombo, October 20 (Xinhua): China’s guidelines on international investment and its internal emphasis on green development are among things that Sri Lanka can learn from, a Sri Lankan business leader and conservation advocate said. Dilhan Fernando, CEO of the Dilmah Tea and director of Dilmah Conservation, told Xinhua that COP negotiations have historically […]

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Investment Opportunities in Fisheries and Aquaculture in Sri Lanka

Monday, October 18th, 2021

Chiranthi Hettiarachchi

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Sri Lankan flotilla protests against Indian poaching

Sunday, October 17th, 2021

Courtesy Channel News Asia COLOMBO: Sri Lanka’s fishermen launched a flotilla of boats on Sunday (Oct 17) demanding that the government block Indian trawlers from poaching in the island’s prawn-rich northern waters. Boats flying black flags and carrying opposition legislators travelled 100km from the north-eastern fishing town of Mullaittivu to the island’s northernmost tip, Point […]

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Central Bank looking at proposal to permit dollar-paid vehicle imports

Sunday, October 17th, 2021

Courtesy The Island Duty too must be paid in hard currency The central bank is looking at a proposal to allow persons who can pay in foreign exchange to import vehicles and pay taxes in hard currency, Central Bank Governor Nivard Cabraal said last week. He said that this was a proposal made by certain […]

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Biden administration announces plans for massive expansion of wind farms off US coasts

Thursday, October 14th, 2021

By Ella Nilsen, CNN Wind turbines tower over the water off the shores of Block Island, Rhode Island. The Biden administration is planning a large expansion of wind power off US coasts. (CNN)The Biden administration is planning to aggressively expand offshore wind energy capacity in the United States, potentially holding as many as seven new offshore […]

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Maldives to enhance cooperation with Sri Lanka in boat building

Thursday, October 14th, 2021

Zunana Zalif Courtesy raajje.mv This first ever engagement would be mutually beneficial to both countries Ship and boatbuilding as a priority area for Sri Lanka NBAM and the the Representatives of the Sri Lanka Boat and Ship Building Industry held a virtual meeting on Monday . The meeting was hosted by the Foreign Ministry in collaboration with […]

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PayPal finally coming to Sri Lanka?

Monday, October 11th, 2021

Courtesy NewsIn.Asia Colombo, Oct 11 (NewsWire) – Sri Lanka has taken measures to acquire the services of PayPal to receive payments, the Central Bank of Sri Lanka said. Deputy Governor of the Central Bank TMJYP Fernando said that the Government has reached out to PayPal’s regional offices in india, Singapore, and the US in this […]

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US–Canadian Energy Enterprise Accuses China of Hijacking Major Project in Sri Lanka

Monday, October 11th, 2021

By Venus Upadhayaya Courtesy The Epoch Times An American–Canadian enterprise is claiming that corrupt actors within a former Sri Lankan government fraudulently helped Chinese state affiliates to hijack its legitimate development rights and work products for a clean energy project at the Hambantota port. Since last year, Sri Lankan national media has highlighted the controversy as the nation […]

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Condominium market loses steam in 2Q

Wednesday, October 6th, 2021

Courtesy The Daily Mirror Sri Lanka’s condominium market which got off to a robust start in the first three months of 2021 slowed in the second quarter, though activity was higher than from a year ago levels as the pandemic induced restrictions appeared to have had a bearing on the pace at which the uptakes […]

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Record high again for CSE’s ASPI index

Wednesday, October 6th, 2021

Courtesy Ceylon Today The Colombo Stock Exchange’s All Share Price Index continued its record-breaking trend, reaching 9,626.45 at close of trading today (06). The ASPI surpassed the 9,500 points mark for the first time in history two days earlier. The ASPI gained 92.81 basis points today. The S&P SL20 Index ended the day 62.72 basis […]

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Seven new airlines to operate direct flights to Sri Lanka soon

Thursday, September 30th, 2021

Courtesy The Daily News For the first time US-Bangla Airlines, the leading premium airline of Bangladesh will fly to Colombo from November 1. Minister of Tourism Prasanna Ranatunge said that with the successful COVID vaccination drive and the drastic reduction of deaths and infections, Sri Lanka Tourism is once again picking up and this is […]

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‘Pushback Against China’: Indian Firm Signs 35-Year Lease to Run Strategic Port in Sri Lanka

Thursday, September 30th, 2021

Dhairya Maheshwari Courtesy Sputnik CC BY-SA 4.0 / Rehman Abubakr / Ships and gantry cranes at the Colombo Harbour, Sri Lanka The awarding of the contract for Colombo’s West Container Terminal to Adani Group marks the first time that an Indian firm will manage such operations in Sri Lanka. At the same time, a state-backed Chinese company already operates […]

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India’s Adani Group signs Build-Operate-Transfer deal to develop West Container Terminal of Colombo Port

Thursday, September 30th, 2021

Courtesy Adaderana India’s Adani Group has signed a Build-Operate-Transfer (BOT) agreement with its local partner John Keells Holding s (JKH) and Sri Lanka Ports Authority (SLPA), to jointly develop the West Container Terminal (WCT) of the Colombo Port. The agreement will be an investment exceeding USD 700 million. In March, the WCT of the Colombo […]

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Midnight LNG deal with US firm raises hackles in Sri Lanka

Wednesday, September 29th, 2021

By ASOKA BANDARAGE Courtesy  Asia Times Electrical union and opposition politicians blast the deal on economic and environmental grounds On September 17, New Fortress Energy (NFE), a US-based energy infrastructure company, signed a momentous legal agreement with the government of Sri Lanka. The signing apparently took place in the dead of the night, at 12:06am, and the foreigner […]

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Large-scale mill owners announce revised retail prices for rice

Tuesday, September 28th, 2021

Courtesy Adaderana Following the removal of price controls, the Large-Scale Mill Owners’ Association have announced revised retail prices for rice. The following prices of three types of rice per kilogram were announced by the chairman of the association, Dudley Sirisena during a media briefing held today (Sep. 28). Nadu – Rs. 115.00Samba – Rs. 140.00Keeri […]

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CMC releases list of over 67,000 unregistered properties in Colombo: Full list here

Monday, September 27th, 2021

Courtesy NewsIn.Asia Colombo, Sept 27 (NewsWire) – The Colombo Municipal Council (CMC) has released the list of properties within the Colombo city limits that are reportedly not registered. Issuing a notice, the CMC said 67,741 properties within Colombo have not been registered and have no ownership. The CMC informed property owners who have not registered […]

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Lanka seeks investment in 7000 small-scale solar projects

Saturday, September 25th, 2021

Courtesy NewsIn.Asia Colombo, September 25 (newsin.asia): Sri Lanka is encouraging entrepreneurs, small businesses, and community organizations to invest in 7,000 small scale solar projects throughout the country, President Gotabaya Rajapaksa told the UN High-Level Dialogue on Energy in New York. He also said that the country’s largest wind power farm was recently inaugurated. The High-Level Dialogue […]

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The reason behind Bangladesh’s $250m loan assistance to Sri Lanka

Saturday, September 25th, 2021

Courtesy The Daily Star Bangladesh recently decided to lend $250 million dollars to Sri Lanka from its foreign currency reserve. This loan will be provided through a currency swap mechanism. This episode of Star Explains discusses the reason behind this lending and the conditions under which the process will be conducted.

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Sri Lanka’s Hambantota Port signs MOU with China’s bus manufacturer

Friday, September 24th, 2021

Courtesy Xinhua COLOMBO, Sept. 23 (Xinhua) — Sri Lanka’s Hambantota International Port (HIP) has entered into a memorandum of understanding with bus manufacturer Xiamen King Long United Automotive Industry Co., Ltd. in China’s Fujian Province, HIP said in a statement here on Thursday. The MOU was signed at the King Long Motor Group offices in […]

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Data manipulation by World Bank is symptomatic of big power hegemony

Wednesday, September 22nd, 2021

Courtesy Daily Mirror UN expert, Prof. Jeffrey Sachs, explains how Big Powers manipulate Third World economies  Since 2014, the OLOBC has been saying that the DBR and the EDB scale have had a disastrous impact on poor countries The World Bank announced last Thursday that it has paused” or temporarily suspended its Doing Business Report […]

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US firm wins Sri Lanka LNG deal

Wednesday, September 22nd, 2021

Courtesy Energy Voice New Fortress Energy has finalised a contract with the government of Sri Lanka that gives it the rights to develop a new liquefied natural gas (LNG) import terminal off the coast of Colombo that is expected to start up in 2023. Register here for the Energy Voice daily newsletter, bringing you key […]

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New Fortress Energy finalises Sri Lanka LNG terminal contract

Wednesday, September 22nd, 2021

Courtesy Adaderana US-based New Fortress Energy has finalised a contract with the Government of Sri Lanka (GOSL) to build an offshore liquified natural gas (LNG) receiving, storage and regasification terminal. To be located off the coast of Colombo, the new terminal is expected to be commissioned in 2023. The agreement will provide the US-based firm […]

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Property Prices in Sri Lanka Remain Positive and Stable in Q2 Despite COVID Waves: LankaPropertyWeb

Tuesday, September 21st, 2021

Lanka Property Web (Pvt) Ltd A recent study on the House Price Index developed by LankaPropertyWeb which is based on the asking prices of its listings revealed that overall residential land prices (per perch) had soared by 44.19% from Q2 2020 to Q2 2021. 4 bedroom house sales prices had increased by 15.68% from Q2 […]

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Data manipulation by the World Bank is symptomatic of Big Power hegemony

Tuesday, September 21st, 2021

By P.K.Balachandran Courtesy NewsIn.Asia Colombo, September 21 (Daily Mirror): The World Bank announced last Thursday that it has paused” or temporarily suspended its Doing Business Report (DBR) after internal audits of the 2018 and 2020 reports revealed data manipulation. The suspension of the DBR is a welcome development from the point of view of poor […]

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The government reached a firm agreement for the regasification terminal with US-based New Fortress Energy.

Tuesday, September 21st, 2021

BY: DANIEL GRAEBER Courtesy NaturalGas World US-based New Fortress Energy said September 21 it had finalised an agreement with the government of Sri Lanka to build an offshore regasification facility for LNG imports. For undisclosed terms, New Fortress is to acquire a 40% stake in utility West Coast Power, which owns a 310 MW power plant […]

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New Fortress Energy and the Government of Sri Lanka finalise agreement

Tuesday, September 21st, 2021

Published by Sarah Smith, Editorial Assistant LNG Industry,  New Fortress Energy Inc. and The Government of the Democratic Socialist Republic of Sri Lanka (GOSL) jointly announced that they have executed a definitive agreement for New Fortress’ investment in West Coast Power Limited (WCP), the owner of the 310 MW Yugadanavi Power Plant based in Colombo, Sri […]

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India delivers 20 ‘State of the Art’ rail passenger coaches to Lanka

Saturday, September 18th, 2021

Courtesy NewsIn.Asia Colombo, September 18 (newsin.asia): In line with India’s continuing commitment to assisting Sri Lanka in the development of its railway infrastructure, a consignment of 20 railway passenger coaches supplied by Rail India Technical and Economic Service (RITES) Ltd, reached Colombo Port on Friday, September 1. This consignment is a part of the contract […]

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World Bank’s “Ease of Doing Business” reports manipulated data

Friday, September 17th, 2021

Courtesy NewsIn.Asia Colombo, September 17 (newsin.asia): The World Bank announced on Thursday that it has paused” or temporarily discontinued, its Doing Business Report” (DBR), following publication of internal audits and reviews into the report that revealed serious ethical concerns of data manipulation, shattering trust in the rankings. The DBR had been paused” after data irregularities […]

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