Chairman and CEO of KPMG India, Arun M. Kumar has reportedly said that Sri Lanka has the potential to become the Switzerland of Asia, where the world’s major economies work together to power Asian and global economic growth.
Chief Sales and Marketing Officer, CHEC Port City Colombo (Pvt) Ltd., Liang Thow Ming has reportedly said that the marine construction work on the Chinese funded Port City in Sri Lanka’s commercial capital
An industry expert representing the Sri Lanka Association for Software and Services Companies (SLASSCOM) has reportedly stated that Sri Lanka’s information technology industry is looking at prioritizing data science
Chief Sales and Marketing Officer, CHEC Port City Colombo (Pvt) Ltd., Liang Thow Ming has reportedly said that the Chinese
Sri Lanka’s Prime Minister says country is building long term financial stability by diversifying its exports
Prime Minister Ranil Wickremesinghe has reportedly said the government is in the process of building long term financial stability by diversifying its exports.
Sri Lankan government expands new digital land registry islandwide to speed up property registration process
The government of Sri Lanka has reportedly made arrangements to expand its new digital land registry islandwide in order to speed up property registration, which in turn would make the country more attractive for investors.
Sri Lanka’s Census and Statistics Department notes growth in industrial production activities in July 2018
An index compiled by Sri Lanka’s Census and Statistics Department has reportedly shown that industrial production activities in Sri Lanka has recorded a 1.1 percent growth during July 2018 compared to a year earlier.
Sri Lanka’s Hambantota Port signs terminal service agreement with Japan’s K-Line, first in the country
The Hambantota Port in Sri Lanka has reportedly said it has signed a terminal service agreement with Japan’s K-Line, which will lead to more vehicles being transshipped via the port.
Sri Lankan government temporarily lifts minimum room rates in Colombo to boost off-season tourist arrivals
Sri Lanka’s Tourism Development Minister John Amaratunge has reportedly said that the government has decided to temporarily lift the minimum prices on Colombo hotel rooms in a bid to boost off-season tourist arrivals for two months.
Sri Lankan government approves proposal to manufacture bricks from fly ash from the country’s coal power plant
Sri Lanka has announced that fly ash from the country’s Norochcholai coal power plant will be used to make bricks and reduce air pollution.
Australian expert hails Sri Lankan government’s move to use free trade agreements as a key tool of reforms
An Australian expert in free trade agreements (FTAs) has reportedly said that using FTAs as the key tool of reform in a multi-party political system is a bold move.
Sri Lanka and Vietnam discuss establishing direct air flights and relaxing visa rules to boost bilateral relations
Sri Lanka and Vietnam has reportedly commenced discussions on the possibilities of relaxing visa rules and establish direct air links between the two countries.
Sri Lanka’s Vocational Training Authority and Unilever Group set up vocational training center to develop skills
Unilever Sri Lanka and the Vocational Training Authority of Sri Lanka (VTA) have jointly unveiled a vocational training center in the town of Agarapathana recently.
A Pakistani media outlet, the Daily News International, has recently reported that Sri Lanka’s MW Ventures International and Hirdaramani Group are seeking opportunities to enter
Sri Lanka’s Tenaga Car Parks and JLanka to set up more electric vehicle charging stations in Colombo
Sri Lanka’s Tenaga Car Parks (Pvt) Ltd and JLanka E-mobility (Pvt) Ltd have joined forces to increase the number of electric vehicle (EV) charging stations in Colombo.
USAID joins Sri Lanka’s Hatton National Bank and Sampath Bank to offer US$ 9 million for local financing of MSMEs
The US Agency for International Development (USAID) along with the USAID Development Credit Authority (DCA) and Sri Lanka’s Hatton National Bank PLC
The Finance Ministry of Sri Lanka has reportedly stated that the proposed 15% value added tax (VAT) on apartment units would only be imposed from the 1st of April 2019.
The local media has reported that the Sri Lankan government has invited more players to import, export and blend lubricants.
Sri Lanka’s Colombo Port records an impressive 15.6 percent growth in container handling in the first half of 2018
The Sri Lanka Ports Authority (SLPA) has reportedly said that container handling at Sri Lanka’s Colombo Port has grown 15.6 percent in the first half of 2018.
Singaporean economist says Sri Lanka could get more manufacturing investments due to US-China trade war
A Singapore based trade economist has reportedly stated that Sri Lanka could get more manufacturing investment due to the increasing economic tensions between the US and China.
Managing Director of Sri Lanka’s Agency for Development, Mangala Yapa has reportedly said that the government will continue to move forward on trade deal negotiations with the next round of discussions with Thailand
Sri Lankan government opens value added tax refund counters for tourists at the Katunayake International Airport
The government of Sri Lanka has opened a value added tax (VAT) refund counter at the Katunayake International Airport as part of its efforts to make the country a competitive trading hub.
Sri Lanka’s Heladiv Foods Plc opens unit in California to distribute tea concentrates and specialty products
VA Foods Plc of Sri Lanka, which is known for its Heladiv branded ready-to-drink tea, has reportedly announced that it has opened a unit in California in the USA to distribute tea concentrates and specialty products.
Sri Lanka’s State Minister for Development Strategies and International Trade, Sujeewa Senasinghe has reportedly said that Sri Lanka and Kenya could mutually benefit through closer business ties due to their strategic locations.
Sri Lanka’s Millennium Housing Developers to invest Rs. 5 billion to develop luxury apartments and affordable housing
Millennium Housing Developers Plc of Sri Lanka, which is a publicly traded company, has reportedly stated that it was investing Rs. 5 billion to develop luxury apartments
The Indian High Commission in Colombo has announced that the state owned Sri Lanka Railways has inked a US$ 82.64 million deal to buy 160 passenger coaches from India’s RITES Ltd.
ITC report calls on Sri Lankan government to allow more payment gateways and reduce fees to promote e-commerce
A report prepared by the Geneva-based International Trade Centre (ITC) has reportedly stated that the Sri Lankan government could allow more payment gateways and reduce fees to expand electronic commerce.
Sri Lanka’s Finance Minister says Enterprise Sri Lanka programme to promote entrepreneurial culture in the country
Finance Minister of Sri Lanka Mangala Samaraweera has reportedly said that subsidized credit made available under the government’s Enterprise Sri Lanka programme is aimed at developing entrepreneurial culture in the country and is only intended for new businesses.
US Embassy in Colombo signs MOU with Matara Chamber of Industry and Commerce to open an American Corner in Matara
The US Embassy in Colombo has signed a Memorandum of Understanding recently with the Matara Chamber of Industry and Commerce to open a new American Corner in Matara.
Sri Lanka’s Browns Hotels and Resorts keen to successfully complete its expansion ventures in the Maldives
Browns Hotels and Resorts of Sri Lanka, which is owned by Browns Investments PLC, has reportedly stated in the Browns Investments’ latest annual review that the company is keen on competing its expansion projects in the Maldives.
Sri Lankan businessman decides to sell of his shares in Anilana Hotels listed in the Colombo Stock Exchange
Well known Sri Lankan businessman Asanga Seneviratne has reportedly decided to sell some of his shares in Anilana Hotels (ALHP), which is listed in the Colombo Stock Exchange (CSE).
Sri Lankan government to conduct digital advertising programmes to promote tourism in India and China
The Cabinet of Ministers in Sri Lanka has reportedly granted approval for the Global Level Tourism Development Project presented by Tourism Development and Christian Cultural Affairs Minister of Sri Lanka, John Amaratunga
The government of Sri Lanka is reportedly looking at constructing two new integrated golf resorts in the mountainous and beach areas in order to promote golf tourism in the country.
Sri Lanka’s Finance Minister calls for a shift towards higher value agriculture and improving competitiveness of the economy
Finance Minister of Sri Lanka Mangala Samaraweera has reportedly noted that Sri Lankan farmers should shift towards higher value agriculture in order to avoid being trapped in low-wage subsistence farming.
Sri Lanka to host first ever international competition in kiteboard – KTA Sri Lanka Asian Freestyle X Championships
Asia’s long established kiteboard competition organization, the KTA, is reportedly heading to Sri Lanka in order to launch the country’s first ever international competition in kiteboard
The Board of Investment (BOI) in Sri Lanka has stated that the country’s Northern Province has benefited from foreign investments with increasing opportunities for investments.
Chinese private sector business chamber with 4.2 million member companies exploring investment opportunities in Sri Lanka
A top Chinese private sector business chamber with 4.2 million member companies has reportedly visited Sri Lanka’s Board of Investments
Sri Lankan Minister says Sri Lanka and Vietnam are engaged in further strengthening bilateral relationship
A Minister of the Sri Lankan government has reportedly said that Sri Lanka is strengthening relations with Vietnam and the Association of South East Asian Nations
Sri Lankan government contemplating reduction in airport fees to make the country more competitive with other Asian countries
Sri Lanka’s Tourism Development Minister, John Amaratunge has reportedly said that the government is reviewing how to reduce airport fees
French company commences seismic survey to study oil exploration in the seas of Sri Lanka’s Eastern Province
Eastern Echo DMCC, which is a unit of oil services group Shlumberger and Total of France, has reportedly launched a seismic survey in the seas off Sri Lanka’s Easters coast to study the possibilities of oil exploration in the area.
Sri Lanka’s Prime Minister calls for more engagement among Indian Ocean powers to increase dividends from economic, political and security relations
Prime Minister of Sri Lanka Ranil Wickremesinghe has reportedly noted a Sri Lankan-assisted multilateral and multi-stakeholder platform to promote stronger maritime engagement
Sri Lanka’s Softlogic Plc expands portfolio through the acquisition of another high net worth brand name
Sri Lanka’s Odel Plc, which is a member of Softlogic Holdings Plc, has acquired Cotton Collection Ltd from its founder Niloufer Esufally Anverally at a sum of Rs. 300 million.
Sri Lankan government decides to prepare National Cooperative Policy to modernize over 14,000 cooperatives island wide
The Ministry of Industry and Commerce in Sri Lanka has stated that preparations are being made to formulate a National Cooperative Policy in order to modernize over 14,400 cooperatives around the country serving eight million people.
Chairman of Sri Lanka’s Access Engineering, Sumal Perera has reportedly said that a transition from construction into a real estate firm is seeing early results with apartment and office pre-sales on track to bring more profits.
Sri Lanka’s Plantation Industries Ministry has reportedly received approval for new projects to improve coconut and rubber cultivation and revive production.
Sri Lankan President focuses on addressing issues faced by the farming community and uplifting agriculture sector
President of Sri Lanka Maithripala Sirisena has last week said that at present many projects are being implemented to change the fate of the farming community while uplifting the agriculture sector in the country.
US amphibious ship from the Seventh Fleet calls at Trincomalee Port to explore local logistics support services
A United States Navy amphibious ship from the Seventh Fleet with marines on board has called at the Trincomalee Port in the eastern region of Sri Lanka for joint exercises with Sri Lanka Navy and to explore local logistics support services.
India’s External Affairs Minister Sushma Swaraj has reportedly told Sri Lanka’s Prime Minister Ranil Wickremesinghe that India is willing to assist Sri Lanka in developing its ports and aviation sectors.
Sri Lankan government to upgrade Palaly Airport in northern region to the level of a regional airport
The government of Sri Lanka is reportedly looking at upgrading the Palaly Airport in the Northern Province to the level of a regional airport in order to operate flights to South Indian cities by the end of this year.
Sri Lankan government’s Enterprise Sri Lanka programme to develop young entrepreneurs well accepted in the western province
The local media in Sri Lanka has reported that 87 loans to strengthen young entrepreneurs under the government’s Enterprise Sri Lanka programme have already been disbursed island wide.