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 […]

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 […]

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 […]

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.

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

Courtesy The Island The Central Bank will soon announce a policy package in the form of a short-term Roadmap to provide clarity with regard to the movement of Sri Lanka’s macro-economic fundamentals, Central Bank Governor Ajith Nivard Cabraal said after taking office yesterday. The Central Bank’s first and urgent priority under my watch, will be […]

Courtesy The Daily Mirror KCI Metro Link Korea Co and the GBK Consortium of more than 15 South Korean companies have signed a memorandum of understanding to undertake a feasibility study for a light rail line running north from Colombo to Bandaranaike International Airport and Negombo, along with an associated mixed use development. The project […]

Courtesy The Daily Star Sri Lanka’s Capital Alliance (CAL) has recently made a foray into Bangladesh’s brokerage business. CAL is Sri Lanka’s leading investment bank, offering integrated investment and capital market solutions, and this becomes its first overseas foray. CAL will hold a majority stake of CAL Securities, the company said in a press release […]

Srejita Nandy Courtesy Livemint.com Our Neighbourhood First policy had led to increased economic cooperation with Sri Lanka but its economy is in deep trouble and India’s relations with it have taken a turn for the worse this year India’s ‘Neighbourhood First’ policy towards Sri Lanka had resonated with Sri Lanka’s ‘India First’ foreign and security […]

Courtesy Adaderana The Central Bank of Sri Lanka has decided to impose a 100 per cent cash margin deposit requirement against the importation of selected goods of non-essential/non-urgent nature made under Letters of Credit and Documents against Acceptance terms with Licensed Commercial Banks and National Savings Bank, with immediate effect.  The decision has been made […]

Courtesy European Supermarket Magazine Sri Lanka plans to bring in new laws to deter hoarding and increase penalties on traders to tackle food shortages caused largely by the country’s deteriorating forex reserves. Shortages of essential foods including rice, sugar and milk powder in recent months pushed the government to declare a food emergency last week, empowering authorities to seize stocks […]

lanka C news ගබඩා තුළ සඟවා තිබියදී සොයාගත් සීනි මෙට්ට්‍රික් ටොන් 29,900ක ප්‍රමාණයක් අද (01) සිදු කෙරුණු විමර්ශන සහ මෙහෙයුම් ක්‍රියාවලියෙන් පසු රජයට පවරා ගත් බව අත්‍යාවශ්‍ය සේවා කොමසාරිස් ජනරාල් මේජර් ජෙනරාල් එන්.ඩී.එස්.පී. නිවුන්හැල්ල මහතා පවසයි. මෙම සීනි තොගය පාලන මිලක් යටතේ රාජ්‍ය සහ පෞද්ගලික වෙළෙඳ ආයතන මගින් පාරිභෝගික ජනතාව වෙත අළෙවි කිරීමට සැලසුම් කර […]

Courtesy The Daily Mirror China and Sri Lanka are set to deepen their bilateral vaccine diplomacy” with a leading Chinese pharma company preparing to set up a manufacturing plant to make anti-Covid jabs in President Gotabaya Rajapaksa’s home district, Hambantota The new plant will be set up under an agreement that will allow Colombo to […]

Courtesy NewsIn.Asia Hambantota, August 10 (Xinhua/HIP): Sri Lanka’s Hambantota International Port (HIP) signed a 58-million-U.S. dollar deal with Maldivian company Sea Horse Yachts on Monday to assemble and export yachts from HIP’s industrial park. Namal Rajapaksa, minister of youth and sports and state minister of digital technology and enterprise development, told Xinhua that the project […]

Courtesy WEBWIRE HEINEKEN LANKA today announced the commencement of local brewing operations of its flagship beer brand – Heineken® in Sri Lanka. With this, Sri Lanka joins an elite group of 60 countries that have the license and approvals from its global parent for local manufacturing operations. This move signifies the importance of the Sri […]

Amiti Sen  Courtesy The Hindu Officials of Sri Lankan Investment Board, Pharma Manufacturers Association to hold virtual meet with investors on August 5 Sri Lanka is seeking to invite potential investors from India to set up manufacturing operations in the new Hambantota Pharmaceutical Zone and is likely to offer a number of incentives, including tax […]

Courtesy NewsIn.Asia Colombo, July 29 (Daily Mirror) – The world’s largest star sapphire cluster which was found in a backyard in Pelmadulla is expected to be sold at a gem auction in China in November, the Daily Mirror learns. State Minister of Gem & Jewellery related Industries Lohan Ratwatte told Daily Mirror that the cluster […]

By Eroshan Meewella Courtesy Olive Eroshan Meewella, co-founder of Kolamba in London’s Soho, tells us what makes the food of his homeland so special Want to learn about Sri Lankan cuisine? Take a virtual trip to this South Asian country with Eroshan Meewella, co-founder of Kolamba in London’s Soho. Try Kolamba’s parippu recipe here, then read our review of Kolamba.  […]

Dwaipayan Barua Courtesy The Daily Star The Chittagong Port Authority (CPA) yesterday took some decisions, including prioritising berthing for Colombo-bound feeder vessels, aiming at clearing out exports piling up at private inland container depots (ICD). It will also give priority berthing to feeder vessels carrying export-laden containers. It also decided to permit two feeder operators […]

Courtesy Capital Global Asia Sri Lanka’s dollar bonds bounced back at the end of last week, following news that the country’s central bank is ready to repay debt set to mature this month.

Courtesy Adaderana The Ministry of Finance says the government has not taken a decision to impose restrictions on the import of non-essential luxury goods. Recent media reports claimed that the government is mulling the restrictions of electronic appliance including mobile phones, televisions and refrigerators as wells as perfumes, deodorants and other similar items. It was […]