Courtesy The Daily News Minister of Industries Wimal Weerawansha and Hambantota International Port Group (Private) Limited (HIPG) held a meeting regarding a proposal to set up a tyre factory in Hambantota at the Ministry of Industries, Colombo 03 recently. HIPG CEO Ray Ren said the first tyre factory was to be built with an investment […]

Daily News  Pearl Energy (Pvt) Ltd., signed an agreement with the Board of Investment of Sri Lanka to launch ‘Hambantota LNG Hub’ – a floating storage LNG trading facility at the Port of Hambantota, bringing LNG to the doorstep of Sri Lanka, with a primary aim of trading LNG in the region utilizing the strategic […]

Courtesy Adaderana SriLankan Airlines says that the airline continues to fly to selected international destinations including Italy- Milan, United Kingdom-London, Japan – Tokyo, Maldives- Male, Germany- Frankfurt, France- Paris and Australia-Sydney during the current global lockdown period. Passengers who are intending to travel with the airline to these destinations and beyond are requested to book […]

Santhosh V. Perumal Courtesy Gulf Times Sri Lanka is seeking joint venture opportunities and investments from Qatar, especially for its Port City Colombo’s infrastructure, as part of strategies to strengthen the bilateral trade between the two countries. In a webinar hosted by Doha Bank on Wednesday, Sanjaya Mohottala, director general, Board of Investments of Sri […]

ලංකා කාර්මික සංවර්ධන මණ්ඩලය කොවිඩ් 19 වසංගත තත්ත්වය හමුවේ අඩපන වූ පාවහන් සහ සම්භාණ්ඩ කර්මාන්ත ක්ෂේත්‍රයට නව පනක් ලබාදිමේ අරමුණින් සෞභාග්‍යයේ දැක්ම ප්‍රතිපත්ති ප්‍රකාශනය අනුව ගරු කර්මාන්ත අමාත්‍ය විමල් වීරවංශ අමාත්‍යතුමාගේ දේශීය කර්මාන්ත නගාසි‍ටුවීමේ සංකල්පය මත ලංකා කාර්මික සංවර්ධන මණ්ඩලයේ සම්භාන්ඩ නිෂ්පාදන හා පාවහන් සංවර්ධන මධ්‍යස්ථානයේ මැදිහත්වීමෙන් ‘Made in Sri Lanka’ දීපව්‍යාප්ත දේශීය සම්භානණ්ඩ නිෂ්පාදන […]

Courtesy Ship Technology Colombo Dockyard (CDPLC) is set to start the construction of six Eco Bulk Carriers for Norwegian company Misje Eco Bulk. The contract also includes four optional Eco Bulk Carriers. Initially signed in March, the contract is expected to become effective next month after receiving the owner’s final board approval. The 89.95m-long vessels […]

Courtesy Hiru News The first batch of paper produced at the closed Valachchenai Paper Mill was released to the market today. Accordingly 40 tons of paper was released to the market.

Courtesy Hiru News The Ceylon Electricity Board states that it has decided to provide a concession of Rs. 3 billion to all electricity consumers for the months of March, April and May. 6.7 million customers are entitled to this concession and only the fee mentioned in the February bill has to be paid for the […]

Courtesy Adaderana Foreign Relations Minister Dinesh Gunawardena and the Minister for International Trade of the UK Ranil Jayawardena have discussed stepping up bilateral trade and investment and expanding the areas of cooperation during a recent teleconference. The Ministry of Foreign Affairs said this was the first official interaction between the two Ministers. Both Ministers welcomed […]

By Larissa Romensky and Jo Printz Courtesy ABC News Dilhani Dissanayake wants everyone to know a cinnamon peeler is actually a person and not a tool. Key points: Cinnamon comes from the inner bark of a tree and is a spice native to Sri Lanka The spice was discovered by the Portuguese in the 16th century […]

Courtesy NewsIn.Asia He was speaking at the webinar on ‘Deepening Economic Collaboration between India and Sri Lanka’, organised by Federation of Indian Chambers of Commerce and Industry (FICCI) and the Lakshman Kadirgamar Institute of International Relations and Strategic Studies on 21 July 2020. Colombo, July 23 (newsin.asia): Sri Lankan Foreign Secretary Ravinatha Aryasinha said that […]

Courtesy The Island SK E&S Co. Ltd., or SK Group, South Korea’s third largest conglomerate (Chaebol) is currently in talks with the Sri Lankan authorities on the establishment of a number of investment ventures in Sri Lanka, including a $600 million LNG project. The proposed project would be able to supply LNG to 930 MW […]

Utpal Bhaskar Courtesy Livemint By leveraging the country’ solar expertise, India’s largest power generation utility NTPC Ltd plans to set up this project in the island nation under the aegis of International Solar Alliance New Delhi: India plans to set up a solar power park in Sri Lanka as part of a concerted strategy to […]

Gamini Sarath Godakanda As part of its post-COVID investment strategy, Pathfinder Capital of MMBL-Pathfinder Group has launched the ‘Pathfinder Vimana’ initiative aimed at developing advanced civilian drone technology solutions for Sri Lanka. The project will entail Pathfinder Capital creating a network of alliances and partnerships, with advanced drone technology providers across the globe. In the […]

Courtesy fibre2fashion Katubedda, Sri Lanka laboratory of Bureau Veritas, a leading testing, inspection and certification provider for consumer goods and healthcare industry, has got ISO/IEC 17025 accreditation for testing medical/surgical face masks. This will help face mask buyers and suppliers worldwide to test medical masks, including full EU market entry scope, in this lab. With […]

Courtesy WEBWIRE Colombo – WEBWIRE – Wednesday, July 15, 2020 Standard Chartered Sri Lanka announced today that Brandix is the latest company to complete a drawdown from the Bank’s global USD1 billion COVID-19 financing commitment, underscoring its ongoing efforts to support local businesses in the pandemic response. Standard Chartered’s extension of USD12 million funding will assist the production switch […]

By Feizal Samath Courtesy TTG Asia The reopening of Sri Lanka’s Colombo International Airport has been delayed indefinitely, after repatriation flights were suspended due to a spike in Covid-19 infections last week. This marks the second postponement of the reopening of the country’s main international airport, after authorities announced last month that its initial August 1 reopening would […]

Courtesy People’s Daily Online Ms. Lyu, please tell me your mother’s name. I’ll pray for her at the temple,” a Sri Lankan engineer said to his Chinese colleague, Lyu Zeying. Lyu is a high-pressure welder with China Machinery Engineering Corporation, the Chinese contractor of the Puttalam coal-fired power plant in Sri Lanka. The power plant […]

Courtesy Ada Derana Minister Prasanna Ranatunga says that the complete reopening of airports may be delayed due to the increased number of registrations to arrive in the country. Previously it was targeted to reopen the airports in Sri Lanka from August 01 and the country will be open for tourists. Considering that situation, the date […]

උපුටා ගැන්ම  හිරු පුවත් ශ්‍රී ලංකා මහ බැංකුවේ මුදල් මණ්ඩලයට ආචාර්ය රාණි ජයමහ සහ සමන්ත කුමාරසිංහ පත් කිරීමට අද රැස්වූ ව්‍යවස්ථාදායක සභාවේ අනුමැතිය හිමිවී තිබෙනවා. මුදල් මණ්ඩලයේ පුරප්පාඩුව පැවති සාමාජිකයන් දෙදෙනා සඳහායි මෙම පත්කිරීම් සිදුවන්නේ .

Courtesy Adaderana The Constitutional Council has approved the appointment of Dr. Ranee Jayamaha and Samantha Kumarasinghe to the Monetary Board of the Central Bank of Sri Lanka (CBSL). A Constitutional Council meeting was held today (24) at the Speaker’s Residence under the patronage of its Chairman and former Speaker of the Eighth Parliament Karu Jayasuriya. […]

Courtesy Adaderana President Gotabaya Rajapaksa has given one year’s time to Lanka Salt Limited which runs at a loss since 2018 to earn profit, the President’s Media Division said. The profit earned by the Lanka Salt Limited in 2016 stood at Rs. 70 million. In 2017 it declined to Rs. 32 million. The organization made […]

Courtesy Adaderana Having identified the urgent need of reviving the businesses adversely affected by the COVID-19 outbreak and thereby to promote economic activity in the country, the Central Bank and the Government of Sri Lanka launched a novel refinance facility under the Saubagya (Prosperity) Loan Scheme, as announced today (24). The Central Bank has approved […]

Courtesy Gulf Times Sri Lanka’s Tourism Promotion Bureau (SLTPB) is planning to launch a long-awaited multi-million-dollar global tourism promotion campaign in January 2021 if tourism does not bounce back to the pre-Covid level in two years, local media reported.Currently, the final terms of references (TOR) of the five-year campaign are being reviewed by an appointed […]

ABU DHABI, Courtesy Trade Arabia Effective June 20, Etihad Airways will operate twice-weekly scheduled services for outbound passengers from Colombo to key destinations on its global network via Abu Dhabi. EY265 will depart Colombo on Thursdays and Saturdays at 1.35am, landing in Abu Dhabi at 4.30am local time. From Abu Dhabi, the service connects to […]

Courtesy Adaderana A three-member committee has been appointed to inquire into illegal activities of finance leasing businesses and unauthorized finance bodies, says the President’s Media Division (PMD). The committee is chaired by the Director General of Legal Affairs of the Presidential Secretariat, Attorney-at-Law Harigupta Rohanadeera. Director of Legal and Compliance Department of CBSL K.G. Sirikumara, […]

Courtesy Adaderana Growth of the Sri Lankan economy has fallen to dismal levels over the past few years, and the impact of the COVID-19 pandemic may result in severe stress on economic and financial system stability in the period ahead unless immediate remedial actions are taken. In this context, in support of the government’s efforts […]

Courtesy Adaderana The Monetary Board of the Central Bank of Sri Lanka (CBSL), at its meeting held today (16), decided to reduce the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of licensed commercial banks (LCBs) by 200 basis points to 2.00 per cent, with effect from the reserve maintenance period that commenced […]

Courtesy Hiru News The Monetary Board of the Central Bank of Sri Lanka, has decided to reduce the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of licensed commercial banks (LCBs) by 200 basis points to 2.00 per cent, with effect from 16 June 2020. <br /><br />This reduction in the SRR injects […]

Courtesy Hiru News – Growth of the Sri Lankan economy has fallen to dismal levels over the past few years, and the impact of the COVID-19 pandemic may result in severe stress on economic and financial system stability in the period ahead unless immediate remedial actions are taken. In this context, in support of the […]