PM calls for innovation, technology and right skills to speed up development

As Sri Lanka looks to speed up its development pace to become a high income economy by 2030, 

Germany to help Sri Lanka achieve development goals

The Government of Germany will extend its full cooperation to Sri Lankan government in its endeavours to achieve the set development goals under good governance, Ambassador of Germany to Sri Lanka Juergen Morhard said.

Sri Lanka affirms commitment to ‘SheTrades’

Sri Lanka yesterday affirmed its commitment to ‘SheTrades’ call to action, pledging to contribute to 

Local sugar industry attracts foreign interest

Foreign investor interest in the local sugar industry is rising, with discussions underway to provide 

JICA loans Rs.47bn to support Sri Lanka’s development agenda

The Japan International Cooperation Agency (JICA) has taken steps to grant Sri Lanka Rs.46.6 billion (JPY 33 billion) to enable the government to maintain financial stability, continue the development agenda within the next five years and achieve its development goals.  

US Exim Bank chief pledges support to strengthen Lankan exports

US Exim Bank Chairman Fred .P. Hochberg has stated that his bank will assist Sri Lanka to strengthen its exports. 

Thirsty Taiwan makes splash on global whisky scene

AFP - An upstart Taiwanese whisky is outshining veteran brands on the global stage as the island 

Robots to boost Lankan manufacturing sector productivity

In a bid to help boost the productivity of the labour scarce local manufacturing sector, Danish 

Ceylon Shipping Corp. takes delivery of second ship

S t a t e - o w n e d C e y l o n Shipping Corporation (CSC) received its latest ship ‘Ceylon Princess’, which arrived at the Colombo Port yesterday. Ceylon Princess, the second ship belonging to CSC, 

SriLankan to pay Rs.25bn for aircraft order cancellation

The Sri Lankan government will be paying Rs. 25 billion to the Netherlands-based world’s biggest 

Lower food prices ease September inflation

A man sits on a domestic gas tank while having his breakfast at a food stall on a road near a main market in Colombo. Sri Lanka’s inflation stood at 3.9 percent during the 12 months to September, edging down from 4 percent in August, helped by lower food prices (Reuters photo)

PM invites Kiwi businesses to invest in CIFC

Sri Lanka has invited the business community in New Zealand to invest in the proposed Colombo 

SLTDA and Rupavahini launch travel programme to boost domestic tourism

In order to promote and develop the domestic tourism of Sri Lanka, Sri Lanka Tourism Development Authority which is under the Ministry of Tourism Development and Christian Religious Affairs together with Sri Lanka Rupavahini Corporation is going to start an amazing and attractive TV travel programme soon. 

Govt. expects to raise Rs.100bn through revised VAT this year

The government expects to raise as much as Rs.100 billion through the revised Value Added Tax 

Bullish CB Governor says unwise to rule out anything

Although private credit growth is expected to fall down to a manageable 20 percent by the end of this year and all macroeconomic targets are to be achieved, the Central Bank refused to rule out a rate hike over the next six months, while keeping rates unchanged during this month’s policy review.

‘ Tourism for all’ says Sri Lanka Tourism

Emphasizing on the accessibility issues for differently-abled tourists, the Sri Lankan government 

Commercial Bank of Maldives launches operations

History was made when Commercial Bank of Maldives, a subsidiary of Commercial Bank of Ceylon 

IMF wants VAT bill in parliament soon

The InternatiThe International Monetary Fund (IMF) last week asked the government to expedite the legislative onal Monetary Fund (IMF) last week asked the government to expedite the legislative 

PM goes step further in envisioning new SL

Prime Minister Ranil Wickremesinghe yesterday went a step further in envisioning a new future for Sri Lanka stating that the ultimate aim is to make the nation a sea and air-based economy, a potential 

Protesting against proposed Customs law

A demonstration was staged by the Customs Trade Union Alliance yesterday in front of Sri Lanka Customs headquarters in Colombo Fort, demanding the authorities to withdraw the proposed new Customs Ordinance Draft Bill Pic by Kushan Pathiraja

Informal tourism sector continues to grow despite snags

Tourist stays in unregistered accommodation grew by 37.53 percent Year-on-Year (YoY) for 2015, but r

Power gamble!

The government appears to be taking a big gamble in order to avoid a power crisis in 2018 by placing its trust in Standardized Power Purchases (SPPs) from future private sector power plants, many of which the 2016 Budget had already proposed to cancel.

Colombo’s real estate bubble!

A man walks past an advertisement of a hotels and apartment complex, in Colombo. Recently a private 

Industry Assn. hails President’s directive to ban gem mining by foreign firms

Sri Lanka Gem and Jewellery Association (SLGJA) yesterday welcomed a directive supposedly 

Govt. intervention sought to prick real estate bubble

??By Chandeepa Wettasinghe The government should intervene to burst the real estate bubble in 

IMF reviews extended loan facility with FinMin

IMF representatives yesterday met Finance Minister Ravi Karunanayake for a mission review of the 

Protest against garbage!

A protest was staged yesterday by the residents of Ekala against the plans to relocate the Meethotamulla garbage dump to Ekala. Despite probably being the cleanest country in South Asia, Sri Lanka has so far failed to set up a working mechanism to recycle its garbage in a sustainable manner  Pic by Pradeep Pathirana

Celebrating Eid al-Adha!

A girl applies henna on a hand of a customer at a stall ahead of Eid al-Adha in Colombo (REUTERS)

Colombo Int’l Financial City to begin work next month

People walking past a backhoe located in the proposed Chinese-funded Colombo International Financial City. Reclamation work of the Colombo International Financial City, which was earlier known as Colombo Port City, is expected to recommence this October with a new tripartite agreement among Ministry of Megapolis and Western Development, the Urban Development Authority (UDA) and CHEC Port City Colombo replacing the previous agreement signed in 201

Public transport misery

Commuters hang off a local passenger train in the morning in Colombo. Sri Lanka is looking to improve