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
REUTERS: Sri Lanka’s tea output in July fell 19 percent from a year earlier to a 15-year low due to poor application of fertiliser, low market prices and a government ban on pesticides, the state-run Tea Board said yesterday.
China’s top diplomat in the country yesterday said that the world’s second largest economy is prepared to commit over US $ 5 billion in foreign direct investments (FDIs) over the medium to long term for special economic zones, if the Sri Lankan government is prepared to authorize them.
Although the government has been on the lookout for new avenues to boost its coffers, it is yet to plug the revenue leakages that amount to approximately US $ 2 million per day due to the non-digitisation of state agencies, the country’s telecom minister pointed out.
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