CNA COLOMBO :Sri Lanka’s central bank kept interest rates steady on Tuesday and expressed optimism that prices would decelerate sharply in the coming months, in its first policy decision since securing a $3 billion bailout from the International Monetary Fund. The Central Bank of Sri Lanka (CBSL) held its standing deposit facility rate and standing […]

Courtesy The Daily Mirror Restructuring of Sri Lanka Telecom (SLT) will be done by the institution that will be set up following the model of Singapore and Malaysia to run state institutions, State Minister Ranjith Siyambalapitiya  told Parliament today. Responding to a question raised by Leader of the Opposition Sajith Premadasa on the restructuring of […]

Courtesy The Daily Mirror The Sri Lankan government is seeking Russian cooperation in multiple sectors, namely, tourism, air traffic, and locomotive construction, besides eyeing crude from Moscow. Colombo is negotiating a deal to buy discounted crude from Moscow, Sri Lankan Minister of Transport and Highways and Minister of Mass Media Bandula Gunawardana told Sputnik on […]

Courtesy Pakistan Observer Sri Lanka continues its dialogue with Russia on possible purchases of oil and gas, Sri Lankan Transport Minister Bandula Gunawardana told Sputnik in an interview. Sri Lanka does not buy oil from Russia yet, however, this is to be discussed with the Ministry of Petroleum. I think we can get some win-win […]

By Nishel Fernando Courtesy The Daily Mirror The use of Indian rupee (INR) in Sri Lanka-India bilateral trade is facilitating traders from both countries to cut transaction costs by over 50 percent while enabling same day trade settlements.  Joining a panel discussion themed ‘Indian rupee denominated trade settlements between India and Sri Lanka and the […]

Courtesy NewsIn.Asia Considering the recent public inquiries and the developments observed relating to cryptocurrencies, which are also commonly referred to as crypto”, the Central Bank of Sri Lanka (CBSL) wishes to reiterate to the public of the significant risks associated with using and investing in cryptocurrency. Cryptocurrency is a type of virtual currency that is […]

Courtesy https://wholesalemanager.co.uk/ Coconutea is launching a range of six drinks to the coconut water category after it identified a gap in the UK market for premium offering. A ‘superfood in a bottle’ it combines the magic of pure coconut water and green tea celebrating the king coconut grown in Sri Lanka. With a 35% growth […]

sell-X Computers ලංකාවේ සියලුම සන්නාමයන්ගෙන් යුත් පරිඝනක අලෙවියේ දැවැන්තයා වන  sell-X Computers පුද්ගලික සමාගමේ මෙහෙයුම් කටයුතු තවදුරටත් පුළුල් කරමින්  සිය ප්‍රධාන කාර්යාලය සහ ප්‍රදර්ශනාගාරය නව පස් මහල්  ගොඩනැගිල්ලක උත්සවාකාරයෙන් විවෘත කරනු ලැබීය. ලංකාව පුරා බෙදාහැරීම් ජාලයකට සහ දකුණු පළාත සහ අගනුවර කේන්ද්‍ර කරගනිමින් පරිඝනක සහ ඒ ආශ්‍රිත උපාංග අලෙවියේ දැවැන්තයා වන sell-X Computers, ගාල්ල,  කිතුලම්පිටිය […]

Lanka Property Web (Pvt) Ltd On the 18th and 19th of March 2023, LankaPropertyWeb hosted the eighth annual Lanka Property Show in the Balmoral Hall, The Kingsbury in Colombo. The event was a huge success, with close to 10,000 visitors attending both physically and virtually, including foreign investors, and solidifying its status as Sri Lanka’s […]

Courtesy Adaderana The report on the batch of imported eggs from India is scheduled to be released tomorrow (29 March), Director General of Animal Production and Health Dr. Hemamali Kotelawala stated. However, although nearly  a week has passed since the arrival of the stock of eggs, the Department of Animal Production and Health are yet to […]

Courtesy Adaderana Minister of Power and Energy Kanchana Wijesekera says the Cabinet of Ministers has granted approval to award licenses to China’s Sinopec, Australia’s United Petroleum and RM Parks of the USA, in collaboration with multinational oil and gas company – Shell plc, to enter the fuel retail market in Sri Lanka. In a twitter message, he said that the Energy […]

Courtesy The Morning First ferry from Pondicherry due end of April $ 50 one way ticket, 100 Kg luggage allowance A new passenger terminal at Kankesanturai (KKS) port, built at a cost of Rs 144 million is to be completed by the second week of April, with the first ferry from the Indian port of […]

Courtesy Adaderana Minister of Transport and Highways Bandula Gunawardene states that permission will be granted for anyone to carry out trade activities on the sides of the roads in all parts of the island during the upcoming New Year festive season. Joining an event held in Galle, the minister expressed that the producers will be […]

Courtesy The Daily Mirror A group of Japanese investors along with Japan Deputy Head of Mission Katsuki Kotaro called on the Board of Investment (BOI) to discuss new investment opportunities in Sri Lanka. The investors had a productive discussion with Investment Promotion State Minister Dilum Amunugama, BOI Director General Renuka M Weerakone and other officials […]

Courtesy Adaderana Sri Lanka is seeking a 10-year moratorium on its foreign debt, President Ranil Wickremesinghe’s office said on March 20, 2023 on the eve of a desperately needed $2.9 billion IMF bailout. Mr. Wickremesinghe’s office quoted him as saying the widely expected International Monetary Fund (IMF) rescue will only give us a breathing space […]

Courtesy Hiru News The government has decided to re-implement the Colombo Fort – Malabe light rail project as a solution to the severe traffic congestion in and around Colombo. Urban Development and Housing Minister Prasanna Ranatunga had recently submitted a Cabinet paper to obtain alternative proposals for this.Minister Ranatunga said that since thousands of public […]

Courtesy The Daily News British High Commissioner Sarah Hulton OBE and Trade Ministry officials. The UK Government launched its new Developing Countries Trading Scheme (DCTS) replacing the UK Generalised Scheme of Preferences system (GSP) was launched and under the scheme, Sri Lanka is eligible for zero tariffs on 92% of products. Over 150 additional products […]

Lanka Property Web (Pvt) Ltd Lanka Property Show, the largest real estate exhibition in Sri Lanka is being organised by LankaPropertyWeb, Sri Lanka’s leading online real estate marketplace for the 8th time this year, on the 18th and 19th of March at the Kingsbury hotel, from 8.00 a.m. to 10.00 p.m.  As one of the […]

Courtesy CNA COLOMBO : Sri Lanka has approved an anti-corruption legislation that is a key clause in the actions needed for its $2.9 billion bailout from the International Monetary Fund (IMF), a government spokesperson said on Tuesday. The proposed anti-corruption legislation is part of the IMF staff-level agreement that economic crisis-hit Sri Lanka agreed to […]

Courtesy The Daily Mirror Several credit card issuers have lifted the limits that hitherto had on overseas use, as they saw their foreign currency conditions improving substantially in the recent times, providing them a lot more room to allow their cardholders with higher spending thresholds when they travel overseas. When the country’s foreign currency conditions […]

Senaka Weeraratna Had the Roman Empire under Constantine embraced Buddhism rather than Christianity we would have had a more peaceful Europe and a more peaceful world. Historically speaking despite all the rhetoric on Peace and Human Rights, Europe remains the same. The biggest battlefield in history compared to other continents. The track record of Europe is […]

Courtesy Adaderana The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) increased by over 100 point during today’s (03 March) trading. Accordingly, the ASPI increased by 111.09 points (1.19%) to 9444.92 at today’s trading, while the turnover was recorded at Rs. 2.8 billion. Meanwhile, the S&P SL20 went up by 9.70 points […]

Pathik Hasan Dhaka, Bangladesh The economy of Bangladesh is gradually improving. As a result of the increase in the country’s GDP, the per capita income has increased and the standard of living is improving as compared to before. Although the economic momentum has been somewhat hampered in the past few years due to the corona […]

Courtesy Adaderana Earnings from merchandise exports declined by 11.3% to USD 978 in January 2023, as opposed to those recorded in January 2022. Meanwhile, the deficit in the merchandise trade account narrowed to USD 410 million in January 2023 from USD 857 million recorded in January 2022, the Central Bank of Sri Lanka (CBSL) reported. […]

Allison Hurst Courtesy Toronto CTVnews Almost six months have passed and Toronto woman Shamita Kumar is still looking for a piece of luggage her mom was supposed to have with her in Sri Lanka. “My aunt was sick, so we were really there to take care of her,” Kumar told CTV News Toronto in an […]

Courtesy Adaderana In a bid to further facilitate investors through speedy approvals for investment projects, thereby easing the ease of doing business, the Board of Investment of Sri Lanka (BOI) will be granted more powers in future, Investment Promotion State Minister Dilum Amunugama stated. He stressed that the new powers would see investors being given […]

Courtesy Times of Oman New Delhi: Sri Lanka’s Board of Investment has approved the two wind power plants of Adani Green Energy to be built in Mannar and Pooneryn at a total investment of $442 million. According to the statement released by the Board of Investment of Sri Lanka on Friday, it has issued a letter […]

Press Release LankaPropertyWeb Overseas buyer interest in Sri Lankan properties increased by 40% in 2022, compared with the year before, according to the Real Estate Market Outlook Report 2023, published by Sri Lanka’s leading real estate portal, LankaPropertyWeb. The report said that traffic from overseas countries such as the United Kingdom, Australia, the United States, […]

Courtesy Adaderana Facing a dire national financial crisis and an urgent need to generate foreign currency income, state-owned SriLankan Airlines (SL) is restructuring and expanding its network to markets that were strong in the pre-Covid period, including Australia, and China. India remains the flag-carrier’s largest market, though flights have been reduced from 125 to 90 […]

Courtesy Adaderana The Board of Investment of Sri Lanka (BOI) has issued a letter of approval to India’s Adani Green Energy Limited for the two wind power plants to be set up in Mannar and Pooneryn at a total investment of USD 442 million.  The project will add 350 MW of electricity to the national […]