By Dr. Janaka Ratnasiri Courtesy The Island In response to the writer’s previous articles on the present power crisis published in the Island of March 28th and April 05th, he has received from an investor some new information which would shed light on the real party behind the present power crisis. This investor claims that […]

Source: Xinhua| Editor: Shi Yinglun Courtesy Xinhua COLOMBO, April 5 (Xinhua) — Sri Lanka’s national air carrier, Sri Lankan Airlines, on Friday said it had formulated a five-year strategic business plan to transform the island country into a strategic hub for air travel and air cargo in the Asia-Africa-Middle East region. The plan will be […]

By GCR Staff Courtesy  Global Construction Review The Asian Infrastructure Investment Bank (AIIB) has announced funding for projects worth $280m in Sri Lanka and $40m in Laos. In the case of Sri Lanka, $200m will go towards low-income housing in Colombo. Some 5,500 homes will be given to people living in dilapidated housing with poor […]

Andy Brown Courtesy International Construction Colombo is the largest city in Sri Lanka The Asian Infrastructure Investment Bank (AIIB) has announced funding of US$280 million for two projects in Sri Lanka. The money is for two projects – US$200 million for improving housing conditions for low-income communities in Colombo by constructing affordable housing and redeveloping […]

Courtesy Adaderana SLFP-affiliated trade unions of SriLankan Airlines today claimed that the government is preparing to sell Sri Lanka’s national carrier to a company which is ‘operating with LTTE funds’. Representatives of the Sri Lanka Nidahas Sevaka Sangamaya – Sri Lankan Airlines, addressing a press conference today, vowed to resort to strict trade union action […]

 by Lucy Patchett in Ethics, Supply chain, Sustainability  Courtesy  cips.org Sri Lankan tea plantations in the central highland district of Nuwara Eliya are being investigated by the Rainforest Alliance and the Fairtrade Foundation for abusing labour workers rights and breaching ethical label standards. Investigations are underway, confirmed The Rainforest Alliance and the Fairtrade Foundation, and said […]

Exclusive by Lorna Knowles, ABC Investigations and Siobhan Heanue, South Asia correspondent Courtesy ABC News PHOTO: Cows on Lammermoor Estate in Sri Lanka were part of the Australian export program. (ABC News: Siobhan Heanue)RELATED STORY: Aus jerseys hand-picked for Sri Lanka Hundreds of Australian and New Zealand cattle have died in a Federal Government-backed export deal with Sri Lanka, which […]

Ajith Siriwardana and Yohan Perera Courtesy The Daily Mirror The Hambantota oil refinery project was not a genuine investment but is an attempt at money laundering to bring down money earned illegally through the Central Bank bond scam, UPFA MP Shehan Semasinghe said yesterday. He told parliament that Transparency International had also cast aspersions with […]

 Bharani Vaitheesvaran, ET Bureau The proposed refinery near the Hambantota port is the largest foreign direct investment project in Sri Lanka. By Bharani Vaitheesvaran, ET Bureau|Read more at://economictimes.indiatimes.com/articleshow/68641214.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Robin Marshall Budapest Business Journal A Sri Lankan-based company with a 50-year history in tourism is launching what it calls the newest Hungarian airline to take to the skies”: RonanAir. RonanAir is a scheduled Hungarian airline set to commence operations in summer 2019,” Rihaab Mowlana, media & marketing consultant for the company told the Budapest […]

Muscat Daily staff writer MUSCAT –  Clarifying Oman’s intention to invest and participate in a large oil refinery project in Sri Lanka, H E Dr Mohammed bin Hamad al Rumhi, Minister of Oil and Gas has said that Oman Oil Company is considering the feasibility of participation in the Sril Lankan project. In a statement to […]

Courtesy NewsIn.Asia New Delhi/Colombo, March 29 (Reuters): An agreement to build a proposed $3.85 billion oil refinery in Sri Lanka will take at least a year to be finalized as its main investor, India’s Accord Group, says it is yet to recruit partners and conduct an assessment of the plan’s viability. The comments add to […]

lanka C news March 28, 2019 at 3:30 am | lanka C news පසුගිය දා හම්බන්තොට මිරිජ්ජවිල දී මුල්ගල් තැබූ තෙල්පිරිපහදු ව්‍යාපෘතියේ ප්‍රධාන ආයෝජකයා වන සිල්වර්පාක් ඉන්ටර්නැෂනල් පුද්ගලික සමාගම තිබෙන්නේ ආමර් වීදිය ප්‍රදේශයේ බව පාර්ලිමේන්තු මන්ත්‍රී නාමල් රාජපක්ෂ මහතා පවසයි. පාර්ලමේන්තුවේ දී ඔහු මේ බව පැවසීය. හම්බන්තොට තෙල් පිරිපහදුවකට මුල් ගල තිබ්බා. ජාත්‍යන්තර මාධ්‍යයක් කිව්වා […]

Courtesy onemileatatime.com I’m a big fan of countries eliminating barriers to entry, whether that comes in the form of removing the hassle or cost associated with visiting. Over the past few months we’ve seen quite a few countries shake up their visa requirements, both for better and worse. It looks like the latest country to […]

Courtesy The Daily Mirror A heated argument erupted in Parliament yesterday between Hambantota District UPFA Parliamentarian Namal Rajapaksa and Deputy Minister of Development Strategies and International Trade Nalin Bandara over the Hambantota-Oman Oil Refinery. Speaking during the committee stage debate in the House, MP Rajapaksa said the cabinet had given the approval for the project […]

By Compelo Staff Writer Courtesy Compelo Sri Lankan Prime Minister Ranil Wickremesinghe has laid the foundation stone on a new $3.85bn oil refinery in Hambantota in the country’s Southern Province. The oil refinery, which will be built within the Mirijjawila Export Processing Zone, will be owned by Silver Park International, a Singapore company controlled by India-based […]

Kanika Datta |  New Delhi  Courtesy business-standard The former Managing Director of McKinsey who served a prison term for insider trading has written a memoir setting out why his conviction was a miscarriage of justice Rajat K Gupta. Photo: Reuters The cheekbones are more sharply defined, the hair tinged with grey. Those could be signs of […]

Courtesy The Standard Fourteen Chinese construction workers who were in Sri Lanka without a valid employment visa have been sentenced to jail for a year and fined Rs 50,000 (1,881 yuan) each by a Magistrates’ Court in the southern coastal city of Galle. The Chinese had arrived Colombo on one-month tourist visas. They were arrested […]

Courtesy NewsIn.Asia Colombo, March 22 (newsin.asia) – Sri Lanka’s Finance Ministry, on Friday signed a concessional loan agreement with China’s EXIM Bank to construct section one of a mega Central Expressway which will ease the island’s traffic congestion and boost tourism. The concessional loan agreement, valued at 989 million dollars was signed between China’s Ambassador […]

Courtesy Adaderana A Singapore-based company in which stakes are held by the family members of former Indian Minister of State S. Jagathrakshakan of the DMK has been linked to a record foreign direct investment of $3.85 billion in an oil refinery in Sri Lanka. However, the recent announcement by Sri Lanka’s Board of Investment (BOI) […]

Courtesy NewsIn.Asia New Delhi, March 20 (Reuters) – Oman’s oil ministry on Wednesday denied being part of a $3.85 billion plan to build an oil refinery in Sri Lanka, a day after the government in Colombo announced the Arab country’s participation. Sri Lankan officials told a news conference on Tuesday that a joint venture between […]

Courtesy Reuters NEW DELHI, March 20 (Reuters) – Oman’s oil ministry on Wednesday denied being part of a $3.85 billion plan to build an oil refinery in Sri Lanka, a day after the government in Colombo announced the Arab country’s participation. Sri Lankan officials told a news conference on Tuesday that a joint venture between […]

Courtesy Adaderana Sri Lanka announced Tuesday that an overseas joint venture had committed $3.85 billion to a new oil refinery – the single largest foreign investment in the country’s history. The Board of Investment of Sri Lanka said construction would begin this weekend on the refinery and storage facility jointly financed by Oman’s Ministry of […]

Courtesy NewsIn.Asia Colombo, March 19 (newsin.asia) – China’s global telecommunications giant Huawei, has reiterated its commitment to grow in the Sri Lankan market and introduce the 5G technology this year, the Daily FT reported here Tuesday.Huawei Technologies Lanka CEO Shunli Wang, quoted in local media reports said that Huawei had the potential to grow better in […]

Courtesy NewsIn.Asia Colombo, March 14 (newsin.asia) – The state owned Sri Lanka Ports Authority, on Thursday said that it would purchase three ship-to-shore gantry cranes from China for its deep water terminal at the Colombo Port in order to handle bigger container ships this year.  The Government Information Department said that the cabinet of ministers, […]

Embassy of Sri Lanka Sweden The Embassy of Sri Lanka in Stockholm together with the Sweden-Sri Lanka Business Council organized two events in Luleå on 03 and 04 March to promote Sri Lanka tourism and investment opportunities.  Luleå is the capital of Norrbotten County, which is home to many companies engaging in high tech research and manufacturing industries. […]

Courtesy Adaderana The Government of Japan has agreed to grant loan assistance of USD 1,800 million for the Light Rail Transit System (LRT) project that is to be implemented this year as a solution for the traffic congestion on Colombo city and suburbs, the Ministry of Finance stated, issuing a press release. Accordingly, the Japan […]

Courtesy NewsIn.Asia Colombo, March 8 (newsin.asia) – Sri Lanka’s Transport and Civil Aviation Ministry, on Friday, launched special ‘all female compartments’ in passenger trains travelling throughout the island in order to ensure the safety of female passengers, local media said. The additional compartments were unveiled on Friday morning, coinciding with International Women’s Day, on the […]

Courtesy NewsIn.Asia Colombo, March 8 (newsin.asia) – Sri Lanka’s national air carrier, Sri Lankan Airlines, operated its first all female crew flight from Colombo to Singapore and back on Friday to celebrate International Women’s Day, the airline said in a statement. The UL306 flight took off from Colombo’s Bandaranaike International Airport on Friday morning carrying […]

BY IDAH Z. PSWARAYI-RIDDIHOUGH Courtesy http://blogs.worldbank.org It’s International Women’s Day today, and there is a lot to celebrate in Sri Lanka and beyond. Being a woman, mother, sister, aunt – name it, it’s something women wake up to daily and they love it.  None of them question about being enumerated for these roles.  We marvel and revel in […]