Author Archive for Business

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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India says further relief impossible without SL having an agreement with IMF

Friday, February 5th, 2021

Courtesy The Daily Mirror In response to internet media reports about India asking for the settlement of US $ 400 million currency swap as an act of retaliation for the cancellation of the port project, the Indian High Commission said a rollover facility for the settlement of had been granted for the Central Bank of […]

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U.S. commits USD 40M loan to support small businesses, empower Sri Lankan women

Tuesday, February 2nd, 2021

Courtesy Adaderana The U.S. Government committed a $40 million loan to Sri Lanka’s SDB bank to support small and medium enterprises (SMEs) and women entrepreneurs. The loan from the U.S. International Development Finance Corporation (DFC), the U.S. Government’s development bank, aims to support private sector investment and economic growth in Sri Lanka. DFC partners with […]

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Cabinet nod for ECT development with SLPA’s full stake-WTC to be developed with India

Monday, February 1st, 2021

Kelum Bandara Courtesy The Daily Mirror The Cabinet today has approved a proposal to develop the East Container Terminal of Colombo Port fully under the control of Sri Lanka Ports Authority, but the West Container Terminal with a private investor as pledged in President Gotabaya Rajapaksa’s apology manifesto titled ‘Vistas of Prosperity and Splendour, a […]

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India responds to govt’s decision on ECT

Monday, February 1st, 2021

Courtesy Adaderana The Indian High Commission in Sri Lanka has issued a statement in response to the decision of the Government of Sri Lanka to develop the East Container Terminal (ECT) of Colombo Port solely by the Sri Lanka Ports Authority. The Spokesperson of the High Commission reiterated the expectation of Government of India for […]

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A short history of corruption, destruction and criminal activity of Adani Group

Friday, January 29th, 2021

Sri Lanka News The following report is a summary of mining giant Adani’s track record, based on research into hundreds of court documents by Environmental Justice Australia and Earthjustice and other publicly available evidence. In 2011, a ship carrying Adani coal sank off the coast of Mumbai, devastating beaches, tourism and marine life. Adani did […]

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The World’s Best Stock Rally Is in Sri Lanka

Wednesday, January 27th, 2021

Livia Yap, Courtesy Bloomberg News BC-The-World’s-Best-Stock-Rally-Is-in-Sri-Lanka , Livia Yap (Bloomberg) — Sri Lanka stocks have returned a world-beating 30% so far in 2021 as domestic investors get more active. Local individuals were responsible for 79% of total market turnover last year, according to the nation’s stock exchange, amid a 70% increase in new accounts from […]

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Sri Lanka: Call For Joint Proposal To Share 49% Stake In Colombo Port’s East Terminal – Analysis

Tuesday, January 26th, 2021

By P. K. Balachandran courtesy Eurasia Review Containers stacked at Sri Lanka’s Colombo port. Photo Credit: Rehman Abubakr, Wikipedia Commons Japan Overseas Infrastructure Investment Corporation (JOIN) and India’s Adani Port are among foreign and Sri Lankan companies seeking a stake in the container terminal The Sri Lankan government has asked stakeholders in Colombo Port’s East Container […]

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ASPI crosses 8,000 points mark for first time in history

Thursday, January 21st, 2021

Courtesy Adaderana The All Share Price Index (ASPI) of the Colombo Stock Exchange has surpassed the 8,000 points mark for the first time in history. The ASPI closed 8,131.25 points at the end of trading today (January 21), gaining 246.80 points from the previous day or 3.13%. The ASPI had reportedly crossed the 8,000 points […]

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SL to venture into gold exploration: Ministry

Wednesday, January 20th, 2021

Sandun A Jayasekara Courtesy The Daily Mirror Sri Lanka has ventured into gold exploration to determine whether the country has gold deposits to be exploited commercially, a senior official of the Environment Ministry said. Secretary of the Ministry of Environment- Dr. Anil Jasinghe told Daily Mirror that a discussion was held last week with the […]

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පුනර්ජනනීය බලශක්ති උත්පාදනය සඳහා නව නිපැයුම්කරුවන් හට දොරගුළු විවර‍ වේ..

Tuesday, January 19th, 2021

ප්‍රවෘත්තී නිවේදනය -නිපුණතා සංවර්ධන, වෘත්තීය අධ්‍යාපන, පර්යේෂණ හා නව නිපැයුම් රාජ්‍ය අමාත්‍යාංශය       අනාගත ශ්‍රී ලංකාවට මුහුණපාන්නට වන ප්‍රධාන අභියෝග අතරින් තීරණාත්මක සංසිද්ධිය වන්නේ බලශක්තියයි. මෙරට සංවර්ධන ක්‍රියාවලියේදි දැනටමත් ක්‍රියාත්මක අති දැවැන්ත ව්‍යාපෘති ක්‍රියාත්මක කිරීමේදි විදුලිය සැපයීම අභියෝගයට ලක්ව තිබේ. මෙම බලශක්ති උත්පාදනය හා කළමනාකරණයේදී මුහුණදීමට සිදුවන ගැටලු සඳහා ප්‍රායෝගික විසඳුමක් වන්නේ කෙටිකාලීනව […]

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SRI LANKA TERMINAL WON’T BE SOLD OR LEASED

Monday, January 18th, 2021

Courtesy Port strategy.com The East Container Terminal of the Colombo Port will not be sold or leased, Sri Lanka has confirmed. President Gotabaya Rajapaksa said the plan was to develop the terminal as an investment project that has 51% ownership by the state-owned Sri Lanka Ports Authority (SLPA) and the remaining 49% as an investment […]

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CSE ranked world’s second-best performing market

Sunday, January 17th, 2021

Courtesy NewsIn.Asia Colombo, January 15 (Daily Mirror) – According to Bloomberg data, the Colombo Stock Exchange’s (CSE) benchmark All Share Price Index (ASPI) is the second best performing stock index in the world as of Wednesday with a rate of return of 9.88 percent. Chile’s S&P CLX IPSA Index has been ranked as the top […]

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Dire need to understand how the world’s ports and shipping work

Thursday, January 14th, 2021

By Rohan Maskarola/DailyFT Courtesy NewsIn.Asia Colombo, January 11: I have always maintained that shipping and ports businesses are truly global, networked with multiple parties. No country which wants to be in the global shipping can compete single handedly without international partnerships. It is irrelevant whether a nation is developed or developing or has cargo and […]

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Minority shareholder seeks SEC intervention: Controversy Over MTD Walkers AGM

Wednesday, January 6th, 2021

By Anjali Caldera MTD Walkers PLC’s second largest minority shareholder Udaya Thuduwewatte accused MTD Walkers Malaysian ownership of conducting their Annual General Meeting (AGM) online yesterday illegally, with no notice being issued to its minor shareholders. In a letter drafted to the Securities and Exchange Commission (SEC) Sri Lanka, Director General, Thuduwewatte, also the third […]

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Colombo Port City Special Economic Zone to break ground in mid-2021

Tuesday, January 5th, 2021

Courtesy NewsIn.Asia Colombo, January 5 (Xinhua):  The Colombo Port City and the Hambantota Port will attract foreign investments to Sri Lanka and boost growth in 2021, the governor of the Central Bank of Sri Lanka (CBSL) said on Monday. Delivering a virtual address titled Road Map 2021, CBSL Governor W.D. Lakshman said Sri Lanka-China joint […]

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Maldives to operate scheduled flights to MRIA

Wednesday, December 23rd, 2020

Courtesy Hiru News Director of Operations of the Airport and Aviation Services of Sri Lanka, Shehan Sumanasekara stated that the national carrier of Maldives will commence scheduled flights to Sri Lanka from today (23). Accordingly, scheduled flights operated by Air Maldives will fly into Mattala Rajapaksa International Airport (MRIA). According to Sumanasekara, the project is part […]

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Titanium Sands focused on moving environmentally-friendly mineral sands project to next phase to benefit Mannar Island

Sunday, December 20th, 2020

Courtesy proactiveinvestors.com.au Whilst the year was impacted heavily with COVID-19 restrictions and issues, it achieved some milestones in its growth and formed a solid base on which to work from in 2021 and beyond once COVID-19 restrictions are lifted. The company is committed to developing the Mannar Island project in an environmentally sustainable manner Titanium […]

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Titanium Sands remains focused on recommencing drilling and moving Mannar Island Heavy Mineral Sands project to next phase

Friday, December 18th, 2020

Courtesy proactiveinvestors.com.au Whilst the year was impacted heavily with COVID-19 restrictions and issues, it achieved some milestones in its growth and formed a solid base on which to work from in 2021 and beyond once COVID-19 restrictions are lifted. The company hopes to provide ‘meaningful updates’ as COVID-19 restrictions are lifted Titanium Sands Ltd (ASX:TSL) remains […]

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ඩොලර් බිලියනයක් වටිනා කොළඹ වරාය නගරයේ පළමු ආයෝජන ගිවිසුම අග්‍රාමාත්‍යතුමාගේ ප්‍රධානත්වයෙන් අත්සන් තබයි

Thursday, December 17th, 2020

අග්‍රාමාත්‍ය මාධ්‍ය අංශය කොළඹ ජාත්‍යන්තර මූල්‍ය මධ්‍යස්ථානය ඉදිකිරීමට අදාළ අමෙරිකානු ඩොලර් බිලියනයක වටිනාකමකින් යුතු කොළඹ වරාය නගරයේ පළමුවැනි ආයෝජන ගිවිසුමට අත්සන් තැබීම අග්‍රාමාත්‍ය මහින්ද රාජපක්ෂ මහතාගේ ප්‍රධානත්වයෙන් අද 2020.12.17 දින අරලියගහ මන්දිරයේදී සිදුවිය. එල්.ඕ.එල්.සී (LOLC) සමූහයේ මූලෝපායික ආයෝජන අංශය වන බ්‍රවුන්ස් ඉන්වෙස්ට්මන්ට්ස් සහ චයිනා හාබර් ඉන්ජිනියරින් කම්පැනි ලිමිටඩ් (CHEC) අතර මෙම ගිවිසුම අත්සන් තැබිණි. මිශ්‍ර […]

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