Courtesy Adaderana The All Share Price Index (ASPI) of the Colombo Stock Exchange has recorded a massive gain of 233.97 points to close at 9,082.33 points at the end of trading today (Feb. 20). This is an increase of 2.64 percent. According to reports, the massive gain was recorded as a result of increased investor […]

Courtesy Adaderana Sri Lankan Minister of Ports, Shipping and Aviation Nimal Siripala de Silva has said the government will spend around USD132 million on port development projects. These investments would be made through revenue generated from port operations, the minister said on Saturday night. Speaking at an event in Colombo, the minister said the government […]

අග්‍රාමාත්‍ය මාධ්‍ය අංශය  යුරෝපයේ රටවල්හරහා භාණ්ඩ ප්‍රවාහනය කරන ලිතුවේනියාවේ ප්‍රමුඛ සමාගමක් ට්‍රක් රථ රියදුරන් හය සියක් බඳවා ගැනීමට සූදානම් වෙයි .ඒ සඳහා ශ්‍රී ලාංකිකයන්ට අවස්ථාව ලබාදෙන බව ලිතුවේනියාවේ Manvesta ප්‍රවාහන සේවයේ ජේෂ්ඨ අධ්‍යක්ෂ ධනා ජැනරිකෙඒට් මහත්මිය පවසයි. ඇය ඇතුළු නියෝජිත පිරිසක් 2023.02.13 දින අරලියගහ මන්දිරයේ දී අග්‍රාමාත්‍ය දිනේෂ් ගුණවර්ධන මහතා හමුවූහ. මෙම කඩිනම් බඳවා ගැනීම […]

Courtesy The Nation LAHORE   –   Governor Punjab Muhammad Balighur Rehman has said Pakistan and Sri Lanka have cordial relations and exist­ing bilateral coopera-tion be­tween the two countries can be further expanded. Talking to a delegation of Sri Lanka – Lahore Business Council, led by Honor-ary Consul General of Sri Lanka, Yasin Joya, during a meeting […]

Courtesy AP News COLOMBO, Sri Lanka (AP) — Debt-stricken Sri Lanka is fast-tracking efforts to seal a stalled trade pact with Thailand in order to boost trade and tourism, and improve the foreign currency shortage that has led to its worst economic crisis, a government minister said on Tuesday. Sri Lanka began talks with Thailand on a […]

By Kelum Bandara Courtesy The Daily Mirror Maritime resources on the Indian side of the sea have already been destroyed. We cannot allow further damage to our resources The fisheries issue is a long standing irritant to bilateral ties between Sri Lanka and India In response to a proposal for the introduction of a license system […]

Courtesy Financial Express RCPL launched its packaged consumer products brand, ‘Independence’ in December 2022 and is creating a distinct and dedicated retail distribution network for its fast-expanding FMCG portfolio. RCPL’s vision is to bring to Indian consumers a bouquet of domestic and globally recognised consumer brands and product choices, the company said. (File) Reliance Consumer […]

Courtesy the cryptobasic.com The project aims to address concerns surrounding the use of electric vehicles while concurrently promoting climate action. eTukTuk, the world’s first Cardano-based automotive project, has announced its plans to launch operations in the South Asian nation of Sri Lanka. This development, announced at this year’s World Economic Forum in Davos, has the […]

Courtesy The Indian Express The order is a part of a Line of Credit extended by Export-Import Bank of India, under the Economic Assistance Scheme of the Indian government. Over 5,000 Ashok Leyland buses are currently in operation with SLTB. (Representational Image) Commercial vehicle maker Ashok Leyland on Wednesday said it has bagged a contract […]

Courtesy NewsIn.Asia Jan 17 (AdaDerana) – A delegation of investors from the United Arab Emirates, led by His Royal Highness Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, visited Port City Colombo on the 14th of January 2023, during a special visit to Sri Lanka for the purpose. Discussions were held between the members of […]

Courtesy The Firstpost With the help of Vostro account in local currency, Sri Lanka will be able to seamlessly import from neighbouring India without worrying about its depleting dollar supply. New Delhi: Economic crisis-hit Sri Lanka has been keen to trade in the Indian rupee and to speed up the process, an Indian public sector bank […]

Courtesy NDTV As part of its ‘Neighbourhood First’ policy, India has extended multi-pronged assistance to Sri Lanka. Colombo:  India has handed 75 passenger buses to Sri Lanka as part of its assistance towards strengthening public transport infrastructure in the cash-strapped country. As part of its ‘Neighbourhood First’ policy, India has extended multi-pronged assistance to Sri […]

Courtesy The Daily Mirror A Gazette Notification has been issued restricting the import of gold above 22 carats as jewellery, State Minister of Finance Ranjith Siyambalapitiya said. He said in a twitter post that the decision was taken to prevent gold smuggling.

Courtesy The Morning The Hambantota International Port (HIP) is supporting Colombo Dockyard PLC (CDPLC) to handle running repairs to vessels while they remain afloat in the harbour. The majority of vessels directed to HIP for afloat repairs come with damages experienced below the water line. CDPLC carries out permanent repairs on these ships with service […]

Courtesy Adaderana President Ranil Wickremesinghe has instructed the relevant officers to formulate a report jointly engaging all government agencies on the resolution of land problems within the Nuwara Eliya district. Wickremesinghe noted that in the event the said report is not presented to him before 04 February 2023, he will take necessary action in this […]

By Oneindia Copy Writer Sri Lanka is also mulling to trade with countries like Tajikistan, Cuba, Luxembourg and Sudan in Indian rupee. Being a leading economy in the world, India is offering the much-needed respite to the countries that are short of US dollars. New Delhi, Dec 21: Although this is being done in the […]

Courtesy Adaderana President Ranil Wickremesinghe said that an environment will be created for small and medium-scale industrialists to become successful using modern technology and the government is ready to empower the industrialists as the main stakeholders in earning foreign exchange for Sri Lanka. President Wickremesinghe made these remarks at the 21st ‘Achiever Awards 2022’ which […]

Courtesy Business Insider Representational imageUnsplashSri Lanka and India  will start a passenger ferry service next month between Kankesanthurai port in Jaffna district and Pondicherry, according to media reports. Ports, Shipping, and Civil Aviation Minister Nimal Siripala de Silva  said arrangements were made to start the ferry service in mid-January next year, Colombo Page reported. The minister said the […]

Courtesy Adaderana Sri Lanka is to sell four plots of land in Colombo Port City for an investor to establish a facility for bunkering, a Minister told journalists. Minister of Ports, Shipping and Aviation, Nimal Siripala de Silva said that they have also called for expression of interest to start an aviation fuel storage facility. […]

by Neville Ladduwahetty Courtesy The Island The headlines in the front page of the Daily News of December 7, 2022 states: GOVT. WILL FORMULATE LAWS TO REPATRIATE USD 53 BILLION”. Quoting Minister Dr. Wijedasa Rajapakse, the report states: Exporters who earn Dollars do not bring that earnings back to Sri Lanka but they deposit it in foreign banks. […]

Courtesy Adaderana Earnings from merchandise exports declined in October 2022 – on a year-on-year basis – for the first time since March 2022 due to lower earnings from garments exports, the Central Bank of Sri Lanka (CBSL) says. The decline in import expenditure continued in October 2022, (y-o-y), for the eighth consecutive month, despite recording […]

Ada Derana  

Courtesy The Hindu FitsAir — a Sri Lankan based private airline — is looking at possibilities to operate services from Colombo to key destinations in south India by the end of 2023, the airlines vice-president (Passenger) Peter Murray Hill said here on Friday. The airline has narrowed down on five destinations – Thiruvananthapuram, Chennai, Coimbatore, […]

Courtesy Adaderana The United Kingdom, through the Food and Agriculture Organization (FAO) of the United Nations is providing GBP 880,000 (USD 1,043,395) to strengthen the food and nutrition security of marginal fishers in Tangalle, Negombo, Colombo, Kalutara, Galle, Matara, Puttalam, Chilaw, and Mannar of Sri Lanka. In light of World Fisheries Day (November 21) being […]

Courtesy Bloomberg (Bloomberg) — Sri Lankan dollar bonds advanced to a two-month high as the fiscal reforms announced in this month’s budget spurred hopes of securing an International Monetary Fund bailout. The 7.55% 2030 dollar bond was indicated up about 0.7 cents to 27.9 cents on the dollar on Wednesday, the highest since mid-September. The […]

Courtesy Adaderana Sri Lanka is in talks for a debt-for-nature” swap deal of up to USD 1 billion in climate-focused finance, a kind of agreement discussed at the United Nations COP27 summit in Egypt, Reuters reported citing people familiar with the matter. According to the news report, such agreements are part of efforts to address an intractable quandary […]

Courtesy Adaderana Singapore-based renovation and interior design company, Kreate Design Pte. Ltd. today (Nov. 18) signed a USD 1 billion investment agreement with the Colombo Lotus Tower Management Company (Pvt) Ltd. This investment agreement will see the development of water sports and an entertainment zone at the Lotus Tower in Colombo within the next six […]

Courtesy The Island A top Chinese envoy has said that Sri Lanka should introduce legal reforms to attract foreign investments. Prime Minister Dinesh Gunawardena’s Office quoted President of the Chinese People’s Association for Friendship with Foreign Countries (CPAFFC) Ambassador Lin Songtian as having told the Premier as Sri Lanka’s infrastructure facilities, human resources and other […]

Courtesy The Daily Mirror The Embassy of Sri Lanka in Moscow initiated a banking cooperation between People’s Bank in Sri Lanka and National Investment Industrial Bank in Russia (NIIB) to devising a platform for Russian tourists to make payments in Sri Lanka seamlessly in Sri Lankan Rupees (LKR) with effect from  November 22,  2022. According […]

Courtesy Adaderana The governor of Central Bank of Sri Lanka (CBSL) says the construction sector is unlikely to see growth until the economy recovers. Dr. Nandalal Weerasinghe made these remarks during an event held at the Sri Lanka Foundation Institute with the representatives of the construction sector. Speaking further, he said the relative cost of […]