Chinese firms are in negotiation with Sri Lanka’s Plantation Industries Ministry to set up joint ventures with local firms to infuse substantial capital into rubber, tea and coconut plantations and production value chains to boost production and to produce higher-value added products.
A Sri Lankan man carries clothes racks for sale in Colombo. Sri Lanka’s countrywide consumer prices in July rose to 3.4 percent on year-on-year basis from 2.5 percent in June. The increase was driven by low base in the previous year and acceleration of prices in non-food items. (AFP Photo)
The failure to adopt a resolution to take AIA Insurance Lanka PLC (AIA Sri Lanka) private at an Extraordinary General Meeting (EGM) this week will neither affect the insurer’s business in Sri Lanka nor its parent company’s commitment towards the market, a top company official said.
In what could be only termed as a ‘desperate’ move, the government is said to have enquired from the country’s banking sector of the possibility of increasing the pawning loans by at least half a trillion rupees, Mirror Business reliably learns.
Significantly tighter external borrowing conditions are likely to further squeeze Sri Lanka’s debt affordability as the country grapples to rollover its mammoth US $ 17 billion foreign currency debt in the next five years amid tightening international capital market yields and capital outflows from frontier and emerging markets with rising yields in the United States.
Having successfully wrapped a three decades’ run, Sri Lanka’s foremost apparel training body is to expand to the South Asian region next. Meanwhile, for Sri Lanka to sustain its apparel advantage over the longer term, it needs to think beyond its low cost of labour. “I am pleased to inform that Sri Lanka Institut
The Sri Lanka Tourism Development Authority (SLTDA) this week partnered with the Urban Development Authority (UDA) to expedite the investment approval process by streaming it to cut down the project approval time period by half and reduce costs. SLTDA Chairman Kavan Ratnayaka and UDA Ch
Sri Lanka’s largest aluminium extrusion manufacturer, Alumex PLC, a subsidiary of the Hayleys group, on Tuesday announced aggressive plans to sharply increase its aluminium extrusion exports to 10 percent from the current 2 percent and to tap into the local residential housing market with a marketing strategy to capture 50 percent share in the window and door market.
The poor coordination of agricultural policies among government agencies, disharmony between agricultural and trade policies and the lack of congruence between agricultural and other national policies and goals, have become major roadblocks to uplift the general living standards of Sri Lanka’s farming community. Addressing a joint se
Sri Lanka’s merchandise exports grew moderately in the first half of the year, at 5.3 percent year-on-year (YoY) to reach US $ 5.63 billion, compared to US $ 5.34 billion recorded for the same period, last year, the provisional data from the Export Development Board showed.
Finance and Mass Media Minister Mangala Samaraweera yesterday vowed to bring in new amendments to the Microfinance Act of 2016 before the next budget, to resolve the rural indebtedness, which has become “a national tragedy”, caused by certain errant microfinance companies.
Sri Lanka Insurance Corporation (SLIC) launches a fresh attempt to regain the market leadership in Sri Lanka’s insurance industry by implementing a three-year strategic plan partnering with a consultancy firm, aligned with fast-tracked branch expansions and modernisation of SLIC operations.
John Keells Holdings PLC (JKH), Sri Lanka’s highest valued business conglomerate, could not escape from the dampened economic activities in the country, as the group performance was hampered by its key consumer business segments.
The Sri Lankan banks may still be far from a full-blown non-performing loan (NPL) crisis. But cracks are appearing in the asset quality with the rise in sour loans, hindering the banking sector’s future growth prospects.
Sri Lanka’s maritime sector master plan, developed by Maritime and Transport Business Solutions (MTBS), a consultancy firm from the Netherlands, and funded by the Asian Development Bank (ADB) is nearing completion, according to Ports and Shipping Minister Mahinda Samarasinghe.
Canada issues travel advisory over serious risk in Arugam Bay
More countries issue travel advisories
Sri Lanka Tourism invites global travellers for upcoming season
Russian embassy urges citizens to stay vigilant in Arugam Bay
US Embassy issues travel warning for Arugam Bay
Warning of a terror attack: Govt springs into action on multiple fronts
Indian Intelligence alerts Sri Lanka to potential attack in Arugam Bay
Tourism industry on edge as travel advisories mount
Israelis top tourist arrivals in Arugam Bay, but reduced now