Courtesy The Load Star Photo: Sri Lanka Ports AuthorityBy Angelo Mathais, India correspondent The unusually strong transhipment cargo gains by Sri Lanka’s Colombo port this year, driven by Red Sea-linked vessel diversions, seem to be ebbing. The port saw a 6% year-on-year drop in transhipment volumes in July following the 5% decline reported for June, according […]

Courtesy Business Standard The Sri Lankan government and a state-run Indian firm on Tuesday signed an agreement to develop infrastructure for storage, regasification and LNG supply for a combined cycle power plant in the island nation, according to the power and energy ministry here. The memorandum of understanding (MoU) was signed between Sri Lanka’s LTL […]

https://techcrunch.com/ Sanjiva Weerawarana is a Sri Lankan success story. He founded enterprise software firm WSO2 in 2005, got it close to $100 million in ARR, then sold it to private equity firm EQT for $600 million in May. He sometimes drives for Uber, too. Sri Lanka isn’t renowned for its startup ecosystem, but one company […]

Courtesy Gulf News Aviation Minister Nimal Sripala de Silva said none of the bidding parties was ‘worthy’ Dubai: The government of Sri Lanka has decided against selling a minority stake of 49 per cent of its national carrier, Sri Lankan Airlines, after none of the bidding entities that expressed interest in it was deemed worthy.” […]

Courtesy Adaderana The European Union (EU) is backing Sri Lanka’s initiative of the newly established Department of Cinnamon Development through the Export Agriculture in Sri Lanka project, the EU Delegation to Sri Lanka and Maldives said in a statement. The statement highlighted that the EU will bring in the expertise of the International Finance Corporation (IFC) […]

Courtesy Adaderana Qatar Airways will be increasing its Sri Lanka-Doha flights from the current five-daily flights schedule to six-daily flights, starting 10 July 2024. “The increase in flights further demonstrate the award-winning airline’s dedication to providing more choices and better connectivity for all passengers flying to and from Sri Lanka”, a statement added. The additional […]

Courtesy PRNewswire NEW YORK, July 3, 2024 /PRNewswire/ — The global cinnamon market size is estimated to grow by USD 412.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 7.97% during the forecast period. Rising awareness about health benefits of cinnamon is driving market growth, with a trend towards growing application of […]

business-standard.com The related infrastructure that would transmit electricity to consumption centres will see further investment of over $290 million, two sources with knowledge of the matter said. Adani Group plans to invest over $1 billion in setting up projects in Sri Lanka to generate electricity from wind in what would be the island nation’s single […]

Business LankaPropertyWeb (LPW), Sri Lanka’s leading real estate portal, is pleased to announce the release of its 2024 Western Province Land Price Index (LPI). The index reveals a significant 7.8% increase in land prices compared to the previous year. Highlights include a 13% surge in Gampaha District, an 8% rise in Kalutara District, and a […]

by LankaPropertyWeb Land prices bounce back to growth in the latest Land Price Index by LankaPropertyWeb. Theoverall land prices in the Western Province increased by 7.8% compared to the previous year,according to the 2024 Western Province Land Price Index (LPI), developed byLankaPropertyWeb (LPW). The Land Price Index (LPI), updated annually, monitors the trendsin asking price […]

LankaPropertyWeb (LPW), LankaPropertyWeb (LPW), the leading real estate portal in Sri Lanka, proudly announces groundbreaking enhancements set to revolutionise the real estate marketing industry. Demonstrating an unwavering commitment to innovation, LankaPropertyWeb introduces two cutting-edge features – the AI-powered social Media Promo Add-On Package and the ML Image Recognition Tool – designed to transform property listings […]

courtesy FibreFashion INSIGHTS The Central Bank of Sri Lanka (CBSL) predicts an 8.4 per cent increase in exports to $12.9 billion in 2024, following a decline in the previous year. This projection was outlined in the CBSL’s 2023 Annual Economic Review, released recently. Exports dropped by 9 per cent to $11.9 billion in 2023 from […]

Dr. Chula Rajapakse MNZM Spokesperson for the United Sri Lanka Association To : Hon Chris Bishop MPMinister of Housing Government of New Zealand.Dear Chris,Thank you for agreeing to advocate to achieve the above objective. The basis for this request is as follows:1. There is an urgent need to improve connectivity between New Zealand & Sri Lanka, […]

Courtesy CNA ENGALURU : Sri Lankan shares closed higher on Thursday, driven by gains in financial and industrial stocks. * The CSE All Share index settled 1.4 per cent higher at 12,075.98, gaining for three straight sessions. * LOLC Holdings and John Keells Holdings were the top gainers on the CSE All Share, rising 5.6 […]

Courtesy Adaderana Chinese state energy giant Sinopec is pushing for greater access to Sri Lanka’s market, where rival India is also seeking to expand its presence, as it looks to build its first fully-controlled overseas refinery, reflecting a change in the firm’s global strategy to compensate for slowing demand growth at home. Sinopec, the world’s […]

Hiru News In a bid to bolster their respective boating and yachting sectors, Sri Lanka and Singapore have inked a Memorandum of Understanding (MoU) between the Chamber of Marine Industries of Sri Lanka (CMISL) and the Singapore Boating Industry Association (SBIA). The signing ceremony, held on April 22, saw Indhra Kaushal Rajapaksa, Chairman of CMISL […]

Courtesy Adaderana The world’s largest refiner, China’s Sinopec plans to start work on a refinery in Sri Lanka by June, the power minister said on Thursday, advancing a project earmarked as the biggest investment in the crisis-hit island nation. Sri Lanka is looking to attract investment in the battle to stabilise its economy and return […]

Courtesy NDTV UPI is an instant real-time payment system to facilitate inter-bank transactions through mobile phones. India has been proactive in extending the reach of UPI globally Payments through India’s Unified Payments Interface (UPI) will now be accepted in seven countries after its launch in Sri Lanka and Mauritius on Monday. After the announcement, MyGovIndia, a […]

Courtesy Adaderana The Cabinet of Ministers has granted approval to import 15,000 tonnes of cashew nuts in shell since the country’s annual requirement of cashew nuts in shell has not been met due to the fact that the crops have not been harvested as expected in the last season.  Joining the Cabinet press conference held […]

Courtesy The Daily Mirror Thailand, Feb. 02 (Bangkok Post) The Free Trade Agreement (FTA), which is expected to be signed between Thailand and Sri Lanka this week, will benefit Thailand’s exports of automotive parts, textiles, electrical appliances, machinery, steel products, paper, processed food and animal feed, Thai media reported. Thailand and Sri Lanka will sign […]

Courtesy Adaderana Sri Lanka’s Minister of Ports, Shipping and Aviation Nimal Siripala de Silva has stated that the recent increase in the number of ship arrivals at the Colombo Port is likely due to the Red Sea crisis. Accordingly, the Minister revealed that the number of ships docking at the Colombo Port has increased by […]

Courtesy CBC This baker’s true passion is his gourmet chocolate business Chamira Milinda is the owner of Chocolate de Champ, a small homemade chocolate business he runs out of his home in L’Anse au Loup, a community on Labrador’s southern coast. Since moving to Labrador from his home in Sri Lanka in 2012, Milinda has been working full time in […]

උපුටා ගැන්ම ලංකා සී නිව්ස් ශ්‍රී  ලංකා ටෙලිකොම් සමාගම පෞද්ගලීකරණය කිරීමේ ක්‍රියාදාමය යටතේ එහි කොටස් ආයෝජනය සඳහා සුදුසුකම් ප්‍රකාශ කළ සමාගම් තුනක් සම්බන්ධයෙන් රාජ්‍ය ව්‍යවසාය ප්‍රතිව්‍යුහගතකරණ ඒකකය විසින් ඇගයීම් සිදු කිරීමට නියමිතය. රාජ්‍ය ව්‍යවසාය ප්‍රතිව්‍යුහගතකරණ වැඩපිළිවෙළ යටතේ මෙම සමාගමේ රජය සතු කොටස් සඳහා ආයෝජනය කිරීමට සුදුසුකම් ප්‍රකාශ කිරීමේ අවසන් දිනය පසුගිය සිකුරාදා (12දා) අවසන් වූ […]

Courtesy Adaderana Indian billionaire Mukesh Ambani has plans to expand his horizons in the telecommunications business through his firm Jio Platforms, expressing interest in buying stake in Sri Lanka Telecom PLC, the state-owned telecom company, Indian media reported. The Sri Lankan government has been struggling with the cash-strapped Telecom PLC, as current authorities continue to […]

Courtesy The Daily Mirror Colombo, Dec. 27 (Daily Mirror) – The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) today announced that people should only buy mobile phones that have been approved by the Commission. Addressing the media TRCSL Deputy Director of Compliance, Ms. M. Pathirana, requested consumers check the IMEI number to verify the phone […]

By Namini Wijedasa/Sunday Times Colombo, December 24: President Ranil Wickremesinghe, in his capacity as Investment Promotion Minister, on Friday gazetted the initiative under the 2008 Strategic Development Projects Act (SDPA), stating that the aim was to turn the Colombo Port into a logistics hub for South Asia. The use of the SDPA goes contrary to […]

By Shamindra Ferdinando Courtesy The Island Wijeyadasa pushes for suspension of Parate executions: ‘Country paying heavy price for not having proper tax regime, favourable treatment to some’ Justice, Prisons Affairs and Constitutional Reforms Minister Dr. Wijeyadasa Rajapakse, PC, has assured the local business community, troubled by parate executions, that laws will be brought in to regulate […]

Ada Derana

Courtesy The Island The Cabinet of Ministers approved the proposal presented by the Minister of Transport and Highways to award the contract for the design and construction of the Ratmalana Railway Diesel Power Set Factory under the Railway Efficiency Improvement Project which is being implemented under Asian Development Bank funds, to China Civil Engineering Construction […]

Courtesy Daily News Creating a unique record in the Sri Lankan cruise segment Aitken Spence Travels, brought 4,000 passengers from three vessels on a single day on Sunday. The simultaneous arrivals of three cruise ships—Vasco Da Gama, Mein Schiff 5, and MS Seven Seas Navigator on December 10, 2023, at the port of Colombo also helped […]