Sri Lanka February tea output falls 19.7%

REUTERS: Sri Lanka’s tea output fell 19.7 percent in February compared to a year earlier due to drought during the past six months and the lack of fertiliser use, the state-run Tea Board said. Production in the first two months of the year also dropped 17.1 percent compared to the same period last year. 

Malik meets Vietnamese envoy

The Ambassador of Vietnam to Sri Lanka, Phan Kieu Thu paid a courtesy call on Development Strategies and International Trade Minister Malik Samarawickrama at the ministry.  

Govt. says number of loss making SOEs reduced

Most of Sri Lanka’s state-owned enterprises (SOEs) have stopped bleeding under the ‘good governance’ regime, after it took over two years ago, Sri Lanka’s Finance Minister Ravi Karunanayake said this week.

FinMin says delay unlikely in IMF third tranche

The third tranche of the International Monetary Fund’s (IMF) US $ 1.5 billion Extended Fund Facility (EFF) would not be delayed in mid-2017 despite Sri Lanka’s inability to meet the foreign reserve targets set by the programme, the country’s Finance Minister Ravi Karunanayake told reporters in Colombo, yesterday. 

SL corporate earnings growth slows down in 4Q

Sri Lanka’s listed company earnings growth slowed substantially during the quarter ended in December 31, 2016 (4Q16), in comparison to the previous quarter’s earnings growth, an analysis by an independent research house showed. 

Garbage mountain!

The Meethotamulla garbage dump is seen from a high-rise building in Colombo. The government has so far failed to come up with a plausible solution to the garbage disposal problem plaguing Colombo and the suburbs despite the launch of the ambitious Megapolis plan targeting the Western Province 

Holi enthusiasm grips Colombo

The colourful Indian festival Holi was celebrated at the Paradise Beach Hotel in Mount Lavinia yesterday. The colourful event, which was organized by the ‘Colombo Indians’ drew a large crowd

Germany promises continued support for tourism development

Sri Lanka is targeting 150,000 German tourists this year. This was revealed during a meeting between Tourism Development Minister John Amaratunga and the Federal Minister for Economic Affairs and Energy, Brigitte Zypries on the sidelines of the ongoing ITB in Berlin this week. Zypries is also the Minister of Tourism in Germany. 

Govt. mulls introducing military grade filter to fight CKDu

Sri Lankans with poor access to clean drinking water will be able to use British military grade ‘Lifesaver’ water filters for an affordable price in the near future to convert polluted water available in their community to clean water, Sri Lanka’s Finance Minister said yesterday.

CSE rings bell for gender equality

In celebration of the International Women’s Day, the Colombo Stock Exchange (CSE) yesterday rang the trading floor bell in a bid to highlight the need for achieving gender equality in the workplace, marketplace and community. 

Top Chinese delegation inspects H’tota port, airport

The Board of Investment (BOI) said it recently hosted a delegation consisting of senior officials from Chinese People’s Political Consultative Conference of Shanghai (CPPCC).  

NZ biz delegation upbeat over Lankan investment prospects

A business delegation of 14 New Zealand companies arrived in Sri Lanka this week to further strengthen business links between the two countries. 

European fund managers visit CSE

Three large European funds led by Thomas Vester of LGM Investments, Tina Ronnholm of Swedish National Pension Fund and Peter F.Tobeason of Silvercrest Asset Management Group...

Medicare 2017

Mediacare 2017, the 8th edition of Sri Lanka’s only healthcare services exhibition was inaugurated at the Sirimavo Bandaranaike Memorial Exhibition Hall in Colombo yesterday.

Tourist arrivals swell in post-war

A tourist travels in a double-decker bus in Colombo on March 2. The number of foreign tourists visiting Sri Lanka has swelled since the island ended a 37-year separatist conflict with Tamil Tiger rebels in May 2009 (AFP Photo)

Govt. mulls doubling Trinco oil tank farm project size with India

The Sri Lankan government is currently inquiring whether the joint venture proposed to be formed with the Indian government with regards to the Trincomalee oil tank farm could be doubled in size, Sri Lanka’s petroleum minister said.

Govt. role imperative for capital market development: stakeholders

In a bid to turn around its fortunes, Sri Lanka’s capital market stakeholders want the government to play a bigger role in the market by way of listing state assets on the bourse and reactivating the state-run private sector pension fund, Employees’ Provident Fund (EPF).

SriLankan welcomes first A320neo aircraft

National carrier SriLankan Airlines yesterday received its first A320neo Airbus aircraft, which the airline expects to utilize to gain more traction in the Asian and Middle Eastern markets under the airline’s new strategic focus in becoming a major regional player.  

Colombo Int’l Financial City work in progress

Backhoes, excavators and other heavy machinery are seen at the site where land is being reclaimed from the sea to develop the Chinese-funded Colombo International Financial City,

BIA runway renovation in full swing

The main runway of Bandaranaike International Airport in Katunayake is currently closed for renovations. Flights will use the runway only at night time during January to April,

New entrant to Colombo bourse banks on expansions, Trump for future growth

Leading brush manufacturer B P P L Holdings Limited, (Beira Group), which will be entering the Colombo Stock Exchange next month, is hoping that its planned expansion projects, coupled with friendly policies from Donald Trump, would help expand its top line in the future. 

New entrant to Colombo bourse banks on expansions, Trump for future growth

Leading brush manufacturer B P P L Holdings Limited, (Beira Group), which will be entering the Colombo Stock Exchange next month, is hoping that its planned expansion projects, coupled with friendly policies from Donald Trump, would help expand its top line in the future. 

Govt. to direct market SriLankan to global airlines

Sri Lanka will not be going for a second round of bidding to seek a partner for the state-run SriLankan Airlines, as priority will be given to market the airline directly to global airlines, State Enterprise Development Deputy Minister Eran Wickramaratne said.

World’s largest car carrier to call at H’tota port

MV Hoegh Tracer, the world’s largest pure car and truck Carrier (PCTC)  belonging to Hoegh Autoliners AS, Oslo, is scheduled to call at Hambantota port during the first week of March 2017 under its local agency Diamond Shipping Services (Pvt.) Ltd.

Architect 2017

The 35th edition of the architect exhibition hosted by the Sri Lanka Institute of Architect’s (SLIA) is currently underway in Colombo. The exhibition comprises of 305 stalls and 135 panels displaying architects’ work.

Google Loon likely to float away from Sri Lanka

The much-touted Google Loon project is likely to slip away from Sri Lanka due to legal snags stemming from spectrum allocation, a concerned Telecommunication and Digital Infrastructure Minister said.

President appoints Chamath Palihapitiya as SL’s ICT ambassador

Chamath Palihapitiya, a Sri Lankan-born businessman and investor in Silicon Valley, has been appointed as Sri Lanka’s ICT ambassador by President Maithripala Sirisena

Tourists visiting Sigiriya on the rise

Sri  Lankans and tourists climb the 80-metre (600-foot) fortress of Sigiriya rock (the Lion Rock) in Sigiriya, north-central  

US visa restrictions could shift more work to SL, India:Virtusa

In the event of the inward-looking Trump administration enacting regulations to restrict foreign IT professionals entering the United States, VirtusaPolaris, a US-based technology company, says more work will move out of the US to countries like India and Sri Lanka.  

Kalpitiya tourist attraction

A dolphin jumps in front of a tourist boat in the sea in Kalpitiya,  Sri  Lanka on  February 12.