By Ishara Gamage Courtesy Ceylon Today The newly appointed Chairman of the Sri Lanka Ports Authority (SLPA), Dr. Sarath Obeysekera has called for immediate liberalisation of the shipping and logistics sectors in Sri Lanka. In a letter to President Ranil Wickremesinghe, he stated that there is a general consensus among the majority of stakeholders in […]

Courtesy Business Insider The Adani Group will become the first Indian port operator in Sri Lanka as construction of the Colombo Port’s Western Container Terminal (WCT) is set to start on Wednesday. The group will have the majority stake in the West Container International Terminal Joint Venture (JV) which is valued at $700 million. The build-operate-transfer (BOT) agreement which […]

Monetary Institute The Monetary Institute’s “Our Money, Our Banks, Our Country – Money Creation in the Modern Economy” conference was held in Zurich, Switzerland on February 5, 2018. Professor Richard Werner, Chair in International Banking, University of Southampton, England provided this overview of how money is created in nations throughout the world and the impacts […]

Courtesy Adaderana China will allow greater market access and share opportunities with all countries, President Xi Jinping said on Friday, following a sharp slowdown of external trade and ongoing tensions with major economies. In an address via video to open the China International Import Expo in Shanghai, Xi called on the world to commit to […]

Courtesy The Daily Mirror While privatisation of SriLankan is high on the agenda of the new government in the island nation, the airline’s CEO says there is a strong future for the country’s national carrier supporting the growth of the Sri Lankan economy in general and tourism in particular. We are open to the proposal […]

Courtesy Adaderana The government has decided to facilitate working capital loans up to Rs. 10 million for small- and medium-scale entrepreneurs from 08 state-owned and private banks, the Ministry of Finance, Economic Stabilization & National Policies says. These entrepreneurs can obtain working capital loans on 11% – 12% interest with a grace period of 06 […]

By P.K.Balachandran/Ceylon Today Colombo, October 24: Whenever Ranil Wickremesinghe occupies a seat of power, there is talk of developing Trincomalee harbor and its environs to serve the Eastern and North Central Provinces that had been hard-hit by the 30-year war. Whenever he was in power as Prime Minister he would initiate some moves to develop […]

Courtesy The Daily Mirror State Minister of Tourism Diana Gamage today reconfirmed that she will leave for US soon to initiate talks on inviting Walt Disney to invest in a theme park in Sri Lanka.  Responding to social media claims that the Disneyland project was false, she said that she was in touch with the […]

Courtesy Adaderana A discussion on the challenges faced by the construction sector and proposed plans to address these issues was held at the Presidential Secretariat under the patronage of President Ranil Wickremesinghe on Thursday (Oct. 20). The problems faced by the construction sector under the current economic situation were discussed at length and special attention […]

Nadir Mumtaz Courtesy The Maritime Executive The Port of Colombo is located near the route between the Strait of Malacca and the Suez Canal, which is one of the busiest shipping lanes in the world. Around 36,000 vessels pass annually on this key corridor between Asia and Europe, including about 4,500 tankers. As the Port of Colombo […]

Courtesy Adaderana A Gazette Extraordinary has been published specifying the regulations pertaining to the Colombo Port City Economic Commission. The regulations, issued by President Ranil Wickremesinghe in his capacity as the Minister of Finance, Economic Stabilization & National Policies, are made under Section 71(1) read with Section 27(1), 41(3)(f), 41)9) of the Colombo Port City Economic Commission […]

By P.K.Balachandran/Daily Mirror Colombo, September 28: Reporting on the meeting between the Sri Lankan Foreign Minister Ali Sabry and his Chinese counterpart, Wang Yi, last Friday on the sidelines of the 71st UN General Assembly session in New York, the Chinese embassy in Colombo said that the two sides had agreed to speed up the negotiation […]

By P.K.Balachandran Courtesy NewsIn.Asia Colombo, September 28 (Counterpoint):  Sri Lankan President Ranil Wickremesinghe told Singapore’s Prime Minister Lee Hsien Loong in Tokyo on Tuesday, that Sri Lanka would give priority to reviving the Sri Lanka-Singapore Free Trade Agreement (SLSFTA) of 2018. The SLSFTA, which was signed when Wickremesinghe was Prime Minister, became operational on May […]

Courtesy The Daily Mirror August merchandise exports income tops US$ 1.2bn Apparel & textile exports up 15% to US$ 565mn Jan-Aug. cumulative exports up 12% to US$ 8.85bn Cumulative apparel & textile up 19% to US$ 4.08bn Sri Lanka recorded its highest merchandise export income so far for this year in the month of August […]

By Feizal Samath Courtesy TTG Asia Sri Lanka is planning to offer a 49 per cent ownership and management stake in its loss-making national carrier to cut losses and transform the airline to a profitable venture. The move would signal a return to foreign management and partnership after a 10-year contract with Emirates ended in March […]

Courtesy Adaderana China and Sri Lanka have agreed to speed up the negotiation process and strive for an early conclusion of a free trade agreement, thereby boosting the confidence in and stabilizing the expectations for their economic and trade cooperation, the Chinese Embassy in Colombo said. Chinese State Councilor and Foreign Minister Wang Yi met […]

Courtesy Adaderana Malaysia’s Cabinet has agreed to recruit 10,000 workers from Sri Lanka after taking into account the state of the country which has been hit by an economic crisis, says Minister Datuk Seri M. Saravanan. In a statement on Wednesday (Sept 21), the Malaysian Human Resources Minister said the Sri Lankan government had submitted […]

Courtesy Adaderana The Colombo Lotus Tower, which was officially declared open to the public last afternoon, has reportedly earned an income exceeding one million rupees through ticket sales within yesterday (Sep 15). The Chief Executive Officer of Colombo Lotus Tower Pvt. Ltd., Major General (Rtd) Prasad Samarasinghe pointed out that the first day’s income was […]

Manusha Media The Ministry of Labour and Foreign Employment has introduced three telephone numbers for obtaining information, including a hotline number to refer problems related to obtaining electric vehicle import permits under the recently introduced initiative of allowing Sri Lankan migrant workers remitting money through formal channels to import an electric vehicle. Accordingly, the necessary […]

Courtesy Adaderana Aviation Minister Nimal Siripala de Silva says that proposals are to be called for from desiring investors to invest in 49% shares and administration of SriLankan Catering and also 49% shares and administration in SrLankan Airlines’ Ground Handling.  The minister stated this at a press conference held today at the ministry regarding the […]

Courtesy The Daily Mirror Twenty-four companies from UAE, Saudi Arabia, USA, China, India, Russia, UK, Malaysia, Norway and Philippines have submitted proposals for the Expressions of Interest (EOI)s to engage in the petroleum business in Sri Lanka, Power and Energy Minister Kanchana Wijesekera said. He said the committee appointed by the ministry will evaluate proposals, […]

Courtesy Adaderana The import of over 300 items has been temporarily suspended with effect from today (August 23) under the Import and Export Control Act through a government notification by the Finance Ministry. The regulation has been issued by has been issued by President Ranil Wickremesinghe, in his capacity as the Minister of Finance, Economic […]

Courtesy Adaderana

by LankaPropertyWeb The recently released Q2 data of the House Price Index of LankaPropertyWeb revealed that the overall selling prices of apartments increased by 45.17% when compared to Q2 of 2021. According to developers and real estate agents that LankaPropertyWeb has been in contact with, these price increases are largely a cause of the demand […]

Courtesy Adaderana Britain has launched a scheme to extend tariff cuts to hundreds of products, such as clothes and food, from developing countries including Sri Lanka, part of London’s post-Brexit efforts to set up systems to replace those run by the European Union. The UK’s new Developing Countries Trading Scheme (DCTS) is one of the […]

Courtesy The Daily Mirror Sinopec, the biggest petrochemical company in China, is likely to enter Sri Lankan market for fuel importing, distribution and selling petroleum products, informed sources said. Cabinet of Ministers in June approved a proposal to allow more companies from oil-producing nations to import oil and start retail operations in Sri Lanka. The […]

Courtesy The Daily Mirror The facility to be operated by two of world’s leading DF operators to showcase Sri Lanka as a world-class dining destination  Key regulations been drafted prioritising strategically-important businesses backed by an expedited approval system As the construction of Colombo Port City’s downtown duty-free (DF) Mall steams ahead, the Colombo Port City […]

Courtesy The Daily Mirror The long-delayed Mannar basin M2 block (exploration and production) tender and commencement of exploration work by the selected bidder for the M1 and C1 July 2019 tender could cost Sri Lanka over a billion dollars in foreign direct investment (FDI).  Moreover, the delays conducting a marketing campaign to attract further investment […]

Courtesy Hiru News Earnings from the merchandise exports increased by 20 % y-o-y to US$ 1,208.2 Mn in June 2022 as per the data released by the Sri Lanka Customs. This was mainly due to the increase in earnings from export of Apparel & Textiles, Rubber based products, Coconut based products, Food & Beverages and Seafood. Major product […]

Courtesy Adaderana After helping Sri Lanka with an unprecedented assistance of around $4 billion since January as the country plunged into a deep economic crisis, India is now planning to invest heavily in newer sectors through both private and public firms there, Gopal Baglay, high commissioner of India to Sri Lanka, told ThePrint in an […]