Courtesy aviationnews-online.com The International Monetary Fund (IMF) has released the latest installment of Sri Lanka’s $1.5 billion bailout, but warned that restructuring the loss-making national airline was essential to sustain economic recovery. The IMF welcomed the island nation’s increase in fuel prices last month — a precondition for it to receive $252 million of the […]

Courtesy wionews.com Sri Lanka on Wednesday signed an agreement with a subsidiary of US firm Schlumberger for a $50 million seismic study off the country’s east coast to evaluate any prospective oil resources, a senior government official said. Sri Lanka signed the agreement with Eastern Echo DMCC, a subsidiary of Schlumberger, to carry out seismic data […]

Courtesy wionews.com Talks between China and Sri Lanka for a free trade agreement have hit major hurdles, mainly because Beijing will not agree to Colombo’s demand for a review of the deal after 10 years, Sri Lanka’s top negotiator said. China has invested billions of dollars building ports and roads and power stations in the […]

Courtesy NewsIn.Asia Colombo, May 30 (newsin.asia) – Sri Lanka and China, on Wednesday signed a contract to construct new underwater sewage and pipelines in capital Colombo to prevent the threat of floods. Sri Lanka’s Megapolis and Western Development Minister, Champika Ranawaka told reporters that his Ministry had signed a contract with China Petroleum Pipeline Engineering […]

BY MAREX  On Wednesday, Sri Lanka’s development and trade minister Malik Samarawickrama confirmed that Chinese investors have been cleared to build a $700 million natural gas-powered electrical station in the Chinese-run port of Hambantota. He first announced plans for Chinese state-owned engineering company Sinomach to build the plant earlier this month. The 400-gigawatt power plant will be fueled […]

Courtesy NewsIn.Asia Colombo, May 23 (newsin.asia) – China, on Wednesday said that as of the end of 2017, Chinese companies had completed more than US 15 billion dollars worth of infrastructure projects in Sri Lanka and made great contributions to the economic and social development of the island country. China’s Ambassador to Sri Lanka, Cheng […]

Ajith Siriwardana and Yohan Perera Courtesy The Daily Mirror SLFP MP Dayasiri Jayasekara alleged today that former Central Bank Governor Arjuna Mahendran, who was in Singapore, had played the key role in signing the Free Trade Agreement between Sri Lanka and Singapore. “Mr. Mahendran has been assigned the duties to function as the Sri Lankan representative […]

Courtesy Iran Daily Iran has agreed to build a new oil refinery for Sri Lanka in addition to upgrading its ageing 50,000 barrel per day (bpd) state-owned refinery, said Sri Lankan Cabinet spokesman Rajitha Senaratne on Wednesday. Iranian officials pledged the new refinery when Sri Lanka President Maithripala Sirisena made an official visit to Tehran […]

By Yusuf Ariff Courtesy Adaderana Private bus operators have decided to call off the strike action which was scheduled to commence from midnight today (16), after the government had reportedly agreed to increase the bus fares by 12.5%. During the discussion held today between representatives of private bus trade unions and ministers and government officials, the government […]

Courtesy NewsIn.Asia Colombo, May 16 (newsin.asia) – Sri Lanka is looking at the possibility of controlling droughts and floods through the use of Chinese Technology,  the local Daily Mirror, quoting Minister of Primary Industries and Social Welfare, Daya Gamage, said Wednesday. Speaking at the signing of project agreements under the World Bank aided Agriculture Sector […]

Courtesy NewsIn.Asia Colombo, May 14 (newsin.asia) – China, on Monday approved a loan of US 1 billion dollars to construct the phase one of the Central Expressway in Sri Lanka, the Prime Minister’s office said in a statement here. China’s Ambassador to Sri Lanka, Cheng Xueyuan met Prime Minister Ranil  Wickeremesinghe in capital Colombo and […]

Courtesy NewsIn.Asia Colombo, May 13 (www.news.lk): Investors form China have expressed interest in expanding investments in Sri Lanka’s agriculture sector, according to Minister of Agriculture Mahinda Amaraweera. A special discussion headed by Minister Mahinda Amaraweera was held at the Ministry of Agriculture on Friday (10) with a delegation of the Agility Group in Guangdong province […]

මාධ්‍ය නිවේදනය-සභාපති, ඇවන්ගාඩ් සමූහ ව්‍යාපාරය 2018 මැයි මස 13 වැනි දින “දිවයින ඉරිදා සංග්‍රහය” ජාතික පුවත්පතේ මුල් පිටුවේ ප්‍රධාන සිරස්තලය ලෙස ” ඇවන්ගාඩ්ගෙන් ජරාව කෑ පොලිසියේ 300කගේ නම් එළියට” ශීර්ෂපාඨය යටතේ ලිපියක් පළකර ඇත. මෙම ලිපියෙහි පළවී ඇති සියලුම කරුණු ඇවන්ගාඩ් ආයතනය වෙනුවෙන් එහි සභාපති විශ්‍රාමික මේජර් නිශ්ශංක සේනාධිපති වන මා දැඩි පිළිකුලෙන් යුතුව තරයේ […]

Courtesy RT Many Russian companies are now registering products under the ‘Novichok’ trademark – the chemical the UK says poisoned ex-spy Sergei Skripal and his daughter Yulia. From sunflower oil to detergents, ‘Novichok’ is the new black. Read more ‘English tourists wanted a cocktail – we gave them one!’: Russian mixologist explains Novichok drink The […]

Courtesy Mail on line (UK) Sri Lanka has struggled to cut losses at the state-run Ceylon Petroleum Corporation, the country’s biggest oil company Sri Lanka hiked fuel prices Thursday by up to 130 percent following pressure from the International Monetary Fund and its central bank to reduce the burden of heavy subsidies on its struggling […]

COLOMBO (Reuters) – Sri Lanka will sign agreements with French oil and gas major Total and a subsidiary of U.S. firm Schlumberger for a seismic study off its east coast to evaluate any prospective oil resources, a top official said on Friday. Vajira Dassanayake, the director general at Petroleum Resources Development Secretariat (PRDS), said a […]

COLOMBO (Reuters) – Sri Lanka’s state-run investment body has approved a $500 million liquefied natural gas plant by China Machinery Engineering Corp near a Chinese-controlled port and industrial zone, the development strategies minister said on Friday. The state-run Board of Investment has approved investment projects worth $1 billion in the first quarter, Malik Samarawickrama said, […]

Courtesy NewsIn.Asia Colombo, May 4 (newsin.asia) – Standard Chartered Bank, on Friday said it is setting up a ‘China Desk’ at its branch in Sri Lanka’s capital Colombo to encourage more Chinese companies to invest in the island under the One Belt One Road initiative. Sam Xu, Head of Transaction Banking at Standard Chartered in […]

Courtesy NewsIn.Asia Colombo, April 26 (newsin.asia) – Sri Lanka and China, on Thursday launched the construction of a mega luxury mall complex in the heart of Colombo which will transform the island’s capital into an attractive shopping destination in South Asia. Odel, owned by Softlogic Holdings Limited, will fund the construction of the new Odel […]

By Editor  Courtesy NewsIn.Asia Colombo, April 24 (newsin.asia) – A group of investors from Pakistan, who arrived in Sri Lanka on Monday have expressed interest to construct a state of the art hospital in the island country to perform heart surgeries and to build two tourism zones as well as to construct a low-cost new housing scheme. The […]

Courtesy newsin.asia Colombo, April 20 (newsin.asia) – Sri Lanka’s Transport Ministry, on Friday said it had been made obligatory for all three wheel services in the island country to fix a meter and issue a receipt at the end of the trip. The new rule had been announced on April 1, but a two week grace […]

By Editor Courtesy NewsIn.Asia  Colombo, April 13 (Reuters): China Communication Construction Company (CCCC) will invest $800 million to build an underground road network to Sri Lanka’s Port City, a $1.4 billion project built on reclaimed land, a government minister said. The plan, for which an agreement has already been signed, is expected to reduce traffic congestion on […]

ලසන්ත වික්‍රමසිංහ ලේකම් තොරතුරු තාක්ෂණ වෘත්තීයවේදීන්ගේ සංසදය තොරතුරු තාක්ෂණ වෘත්තීයවේදීන්ගේ සංසදය විසින් අද දහවල් පැවැත්වූ මාධ්‍ය සාකච්ඡාව සම්බන්ධ ප්‍රවෘත්තිය. අත්සන් කරන ලද සිංගප්පූරු-ශ්‍රී ලංකා ගිවිසුම මඟින් ශ්‍රී ලංකාව පාවාදීමකට ලක් කර ඇති බව තොරතුරු තාක්ෂණ වෘත්තීයවේදීන්ගේ සංසදය පෙන්වා දෙයි. සංවර්ධන උපායමාර්ග සහ ජාත්‍යන්තර වෙළදාම අමාත්‍යවරයා දැනුවත්ව රට පාවා දීමක නිරත වන නිසා ඔහුව එම තනතුරුන් […]

by Editor  April 11, 2018 Courtesy NewsIn.Asia Colombo, April 11 (newsin.asia): The US 1.4 billion State of the Art Colombo Port City (CPC), built by the China Harbor Construction Company (CHCC) in association with the Singapore-based designers Surbana Jurong group and the business advisory group Atkins Acuity, is expected to be South Asia’s commercial and entertainment hub […]

by Editor  April 11, 2018 Courtesy NewsIn.Asia Colombo, April 11 (newsin.asia) – Sri Lanka will call for fresh bids for an oil exploration block off the island’s northwestern coast in May, where traces of natural gas was discovered in 2011, Cabinet Spokesperson Rajitha Senaratne said Wednesday. Senaratne said that following a proposal by Minister of Petroleum Resources, […]

by EditorApril 11, 2018  Courtesy NewsIn.Asia Colombo, April 11 (newsin.asia) – China Harbour Engineering Company, which is constructing a mega 1.4 billion dollar Port City project close to the Colombo Harbour, on Tuesday evening presented the Colombo Port City’s Development Control Regulations (DCR) to the government which will now enable land to be sold to investors. […]

CSIS Briefs Courtesy Center for Strategic and International Studies The Issue Unable to repay its debt, Sri Lanka gave China a controlling equity stake and a 99-year lease for Hambantota port, which it handed over in December 2017. The economic rationale for Hambantota is weak, given existing capacity and expansion plans at Colombo port, fueling concerns that it […]

by EditorApril 3, 2018 Courtesy NewsIn.Asia Colombo, April 4 (newsin.asia): Towards the end of 2019, automobile loving Sri Lankans will see something they have been longing to see – a locally manufactured Sri Lankan” car vying for road space with international brands. Ideal Motors’ small car, not named yet, is to be made in collaboration with […]

By Eurasia Review The Bank of China opened its first branch in Sri Lanka’s capital Colombo on Wednesday evening.Sri Lankan Prime Minister Ranil Wickremesinghe, who was the Chief Guest at the ceremony said the opening of the Colombo branch was an important step in strengthening the island’s economy and it opened a new chapter in the […]

By Editor newsin.asia Colombo, March 26 (newsin.asia) – Sri Lanka’s Transport Ministry, on Monday said a newly re-developed airport in Batticaloa, in eastern Sri Lanka, will boost tourism into the region and pave way for more flights to land there. The government information department said the Batticaloa Airport which was re-developed as a domestic airport was […]