Courtesy Adaderana The Economic and Commercial Office of the Chinese Embassy in Colombo has rolled back the move to blacklist the People’s Bank in Sri Lanka over the row concerning the payment for a consignment of organic fertilizer containing harmful bacteria shipped by a China-based company. The People’s Bank was blacklisted on October 29, 2021, […]

Courtesy – Hiru News It is no secret that a large number of people in this country have been severely inconvenienced due to gas-related explosions. However, there are reports of people benefiting from the crisis. The areas of Kurunegala, Ibbagamuwa and Tittawella have been famous for their traditional pottery industry for a long time. These […]

Courtesy Hiru News People’s Bank to pay USD 6.7 million to the Chinese fertilizer company tomorrow (07)

Courtesy Iranian Labour News Agency A member of Iran’s Chamber of Commerce says barter of tea with oil between Iran and Sri Lanka is not fair because Sri Lankans will give Iran second or third degree tea as their low quality tea has no customer in the world. Speaking to ILNA news agency, Masoud Daneshmand […]

Courtesy Adaderana The Cabinet of Ministers has approved the procurement of 500 new buses for the Sri Lanka Transport Board (SLTB) under the Indian loan grant scheme and another 750 jeeps for Sri Lanka Police under the Indian Line of Credit.  On 08th January 2020, the approval of the Cabinet of Ministers had been granted […]

Usman Hanif Courtesy The Express Tribune Representatives from 40-50 firms will explore avenues of mutual cooperation, says envoy KARACHI: Sri Lankan trade minister will be visiting Pakistan on January 23 accompanied by representatives from 40 to 50 companies to explore avenues of cooperation and collaboration with the business community of Pakistan, revealed Consul General of Sri Lanka […]

Courtesy Ceylon Today India will have a direct say in as many as 75 of the oil tanks in Trincomalee, with 14 of them to be retained by the Indian Oil company on lease for another 50 years. The Ceylon Petroleum Corporation will manage the remaining 24, energy minister Udaya Gammanpila said. He spoke to […]

Courtesy Businesswire $425 million-projects’ value financed by the SFD in Sri Lanka SRI JAYAWARDENEPURA KOTTE, Sri Lanka–(BUSINESS WIRE)–The Saudi Fund for Development represented by the CEO Mr. Sultan Abdulrahman Al-Marshad, inaugurated the completion of the development of Peradeniya-Badulla-Chenkaladi Road Project in the Democratic Socialist Republic of Sri Lanka, with a loan worth US$ 60 million. […]

Courtesy NewsIn.Asia Colombo, Dec 24 (AdaDerana) – The Colombo Stock Exchange (CSE) set a new record today (December 24) as the All Share Price Index (ASPI) surpassed 12,000 points for the first time in history. The ASPI closed at 12,070.68 points at the end of trading today (November 16), marking an increase of 1.00% (119.45 […]

Courtesy Business Recorder COLOMBO: Sri Lanka’s inflation hit a record 11.1 percent in November, official figures showed Wednesday, and authorities warned a worsening economic crisis could prompt further food rationing. The island’s tourism-dependent economy was hammered by the pandemic and the government imposed a broad import ban to shore up foreign exchange reserves, triggering shortages […]

Carla Mozée Courtesy Business Insider Sri Lanka reached an agreement to send tea to Iran to settle a $251 million oil debt, according to reports.  Sri Lanka wasn’t able to pay the debt via other means as US sanctions prohibit dealings with Iranian banks.  But Sri Lanka said its tea-barter plan does not violate UN […]

Courtesy Islamic Republic News Agency Tehran, IRNA – Iran and Sari Lanka have signed an agreement on working out ways to settle the latter’s oil debt to Iran. Chairman of Trade Promotion Organization of Iran Ali-Reza Peimanpaak and minister of trade of Sari Lanka signed the agreement in a meeting, according to the Wednesday report […]

Courtesy Adaderana The root cause for the recent domestic liquefied petroleum gas (LPG) cylinder-related incidents in the country was a result of the change in the composition, the presidential committee appointed on the matter says. Chairman of the said committee, Prof. Shantha Walpolage of the University of Moratuwa revealed this during a press conference held […]

Courtesy Adaderana The general public should not have any undue fear when using liquefied petroleum gas, says the Litro Gas Limited Chairman, Theshara Jayasinghe. He also noted that there is no change in the composition of Litro’s LP gas, adding that steps have been taken to obtain recommendations from foreign experts in this regard. The […]

Courtesy Adaderana Litro Gas Lanka Limited has commenced the distribution of domestic LP gas cylinders, conforming to the requirements of the Consumer Affairs Authority (CAA).  The CAA said that the new stock of LP gas cylinders can be identified by the shrink bundling film of the gas cylinder valves (the polythene seal), which will carry […]

Courtesy The Daily Mirror Prices of rice are seen displayed With the CAA announcement of the extraordinary gazette, the price of rice hiked to 130 rupees Former Director of the Department of Agriculture Department K. B. Goonarathne underscores the possibility of selling Nadu at 90 rupees a kilo If the Government can grant concessions to the […]

Courtesy fibre2fashion.com After registering a steep fall of 21 per cent year-on-year to $4.423 billion last year, textile and garment exports from Sri Lanka are likely to cross $5-billion mark in 2021, as the island nation has already earned $3.893 billion until September, growing at 18.5 per cent year-on-year, according to the statistics released by […]

Courtesy Nikkei Asia Beijing steps up Belt and Road spending with support of friendly president Shipping containers at the main port of Colombo. Sri Lanka’s location in the Indian Ocean and its deep harbors have made it strategically important under China’s Belt and Road infrastructure initiative.    © ReutersRYOSUKE HANADA, Nikkei staff writerNovember 25, 2021 06:30 JST NEW DELHI […]

Courtesy The Daily Mirror The Russian Federation has agreed to explore the possibility of generating low-cost electricity in Sri Lanka through new sources such as nuclear power. The decision was revealed following a meeting held between Russian Ambassador Yuri B. Materiy and Power Minister Gamini Lokuge at the Ministry. The ambassador said Sri Lanka should […]

Courtesy NewsIn.Asia The acquisition by Reliance ensured that amanté would benefit from Reliance’s scale and retail expertise, and that the brand we created and our employees in India and Sri Lanka will continue to benefit from being a part of a well-established retail company” Colombo, Nov 12 – MAS Holdings announced that one of its […]

[By Dr. Chulanee Attanayake] Courtesy The Maritime Executive Adani’s multimillion-dollar investment in Colombo not only makes commercial sense, it’s a strategic game-changer, too. On September 30, Adani Group, India’s largest private port operator, signed what has been reported as a $700 million agreement to build a new container terminal in Sri Lanka. The deal to jointly develop […]

Courtesy NewsIn.Asia COLOMBO, Nov. 10 (Xinhua) — Sri Lanka’s Port City Colombo project will add 13.8 billion U.S. dollars to the country’s economy once fully operational, local media citing a study by PricewaterhouseCoopers (PwC) reported here Wednesday. The PwC study evaluated the impact of the Port City Colombo project on macroeconomic variables including employment, GDP, […]

Courtesy Adaderana The Colombo Stock Exchange (CSE) set another record today as the All Share Price Index (ASPI) surpassed 10,600 points for the first time in history. The ASPI closed at 10,632.21 points at the end of trading today (November 05), marking an increase of 2.11% (220.19 points) from the previous day.  The previous highest […]

Courtesy Adaderana The payment for the organic fertilizer consignment shipped by Qingdao Seawin Biotech Group Co. Ltd. was halted due to an interim injunction issued by the court, the People’s Bank in Sri Lanka said today, in response to the move by the Embassy of China in Colombo to blacklist the state-owned financial institution. Action […]

Courtesy Adaderana In the latest development in the row over a consignment of organic fertilizer containing harmful bacteria shipped from China, the People’s Bank in Sri Lanka has been blacklisted by the Economic and Commercial Office of the Chinese Embassy in Colombo. The move is attributed to the failure of People’s Bank to make the […]

Courtesy The Daily Mirror Fertilizer issue The government decided, all of a sudden, to implement organic farming in place of chemical agriculture which Sri Lankan farmers are accustomed to for nearly 60 years. President Gotabaya Rajapaksa is pledge-bound to introduce eco-friendly agriculture in steps over a decade according to his manifesto ‘Vistas of Prosperity and […]

Courtesy Adaderana The nationwide rollout campaign of ‘LANKAQR’ – an integrated payment system developed by the Central Bank of Sri Lanka, was launched today by Minister Namal Rajapaksa.  LANKAQR is a project initiative from the Central Bank of Sri Lanka to ensure all QR codes and QR based transactions in Sri Lanka are standardized and […]

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 […]

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 […]