China-Sri Lanka FTA talks set to resume within next two months

The negotiations for the proposed China-Sri Lanka Free Trade Agreement (FTA) are expected to resume within the next one to two months after a six-year hiatus. “We are waiting for official communication from China on dates for the next round of FTA negotiations,” Sri Lanka’s International Trade Office Chief Negotiator K.J. Weerasinghe told a seminar organised by the National Chamber of Exporters, in Colombo, yesterday. Speaking to Mirror Business

Hambantota Port bunker fuel volumes grow sixfold

The Hambantota International Port (HIP) has increased its bunker supplies nearly six times the 2022 volumes in the current year. As of June 2023, the port has completed over 500,000 metric tonnes of oil and gas throughput, successfully achieving the target set for the first half of the year.

India’s Jio Financial Services, BlackRock to launch asset management venture

REUTERS: India’s Jio Financial Services, part of billionaire Mukesh Ambani led Reliance Group and U.S.-based BlackRock Inc will form a 50:50 joint venture to launch asset management services in India. The two companies are targeting an initial investment of US $ 150 million each in the joint venture, Jio Financial said in a statement yesterday.

Visiting Chinese delegation explores biz opportunities in SL

A top delegation of Chinese investors, who completed a visit to Sri Lanka recently, said investment potential in the country remains ‘very high’, like in China during the 1980s and most of them would return with concrete ideas for investing in modern jewellery-making for the high-end export market, mineral processing and renewable energy production.

T-bill yields ease across maturities

The yields at yesterday’s Treasury bill auction eased across maturities and the Public Debt Department (PDD) of the Central Bank raised over Rs.155 billion, selling bills. The three-month bill yields fell three basis points from the previous auction to 19.96 percent while the six-month yields eased eight basis points to 17.69 percent. The one-year bill yields fell six basis points to 14.29 percent.

Sri Lanka relaxes capital controls for first time in over 3 years

The government on Monday announced easing of certain restrictions hitherto slapped on outward remittances since April 2020, amid improvements seen in the country’s domestic foreign exchange market.

JKH June performance indicates fast normalising economy

Premier blue-chip company John Keells Holdings PLC reported modest top and bottom-line performance for the Krishan Balendra three months to June....

July 1-23 tourist arrivals top 100, 000

Tourist arrivals to Sri Lanka in the first 23 days of July topped the 100, 000 mark, the data released by Sri Lanka Tourism Development Authority showed.

IMF reforms, debt restructuring vital for SL’s economic recovery: Japanese envoy

Ambassador of Japan to Sri Lanka, Mizukoshi Hideaki recently emphasised the importance of Sri Lanka completing the International Monetary Fund (IMF) reforms and finalising debt restructuring negotiations for the economic recovery of the country.

Expert committee to study ways to restructure Sri Lanka Railways

The Cabinet nod has been granted to appoint an expert committee to study possible ways to restructure the Department of Sri Lanka Railways. Minister of Transport...

Cabinet nod for US$ 200mn World Bank loan to strengthen social safety net

The Cabinet greenlight has been granted to enter into a loan agreement with the World Bank (WB) to secure US$ 200 million loan for the proposed social security project, which includes funding for ‘Aswesuma’....

SL-Thailand FTA talks on track for completion in February

The negotiations on the proposed Sri Lanka – Thailand Free Trade Agreement (SLTFTA) are on track for completion in February, next year. President Ranil Wickremesinghe...

UK-based Hive Energy warns Lankan consumers against scam copy-cat business

UK-based global renewable energy developer Hive Energy yesterday raised the alarm over the imitation and misappropriation of Hive Energy’s corporate branding and logo in an effort to deceive individuals....

Jehan Perinpanayagam takes helm as SLASSCOM Chairman

Sri Lanka Association of Software and Service Companies (SLASSCOM) recently welcomed Jehan Perinpanayagam as its new Chairman for the year 2023/2024. With a career spanning 26 years....

99x strengthens leadership team with key management additions and transitions

99x, a leading product engineering company, has announced significant additions and changes to its management team as part of its dynamic ‘Resetting and Rebuilding’ theme for the year 2023, targeting...

ComBank ranked strongest bank brand and country’s 2nd strongest brand overall

The Commercial Bank of Ceylon has been ranked as the strongest bank brand in Sri Lanka for the fourth consecutive year and the second strongest brand in the country overall by Brand Finance, the world’s...

Lassana Innovations launches Treats of Ceylon at BIA

Lassana Innovations, a subsidiary of Lassana.com (Pvt.) Ltd, marked a major milestone recently with the grand opening of the Treats of Ceylon shop at Bandaranaike International Airport (BIA). The Treats....

Centrum Marine sets sail on new voyage by launching modern headquarters

Centrum Marine Consultancy, the emerging leader in the provision of marine HR solutions in Sri Lanka, has entered its latest phase of rapid growth by unveiling its new headquarters ‘446 Centrum Haus’,...

WCIC launches new project to combat GBVH in workplace

The Women’s Chamber of Industry and Commerce (WCIC) is excited to announce the launch of a new project aimed at combating gender-based violence and harassment (GBVH) in the workplace. Building....

National Packaging Centre reactivated

The National Packaging Centre has been reactivated to support the growth of the local manufacturing industry in Sri Lanka. The reopening ceremony...

Indices continue to close in red

The ASPI closed in red as a result of price losses in counters such as Lanka IOC, Commercial Bank, and Melstacorp with the turnover crossing Rs. 2.5 bn. Similar behavior...

Debt restructuring to ease investment, liquidity risks on insurance firms: Fitch

Fitch Ratings yesterday said the government’s debt restructuring plan is likely to reduce investment and liquidity risks for domestic insurers, as the proposed plan would not have a direct impact on the local currency government debt holdings of insurers, banks and non-banking financial institutions (NBFIs).

Unlicensed foreign traders pose serious threat to local gem and jewellery sector

The Export Development Board (EDB) yesterday said Sri Lanka’s gem and jewellery sector is under serious threat, due to a surge in foreign traders’ involvement in key gem markets without the required licences, threatening the sector’s integrity and sustainability.

Unprecedented surge in interest payments in 2022

Based on the Central Bank data, Verité Research yesterday pointed out that Sri Lanka’s interest payments had reached their highest levels in 2022.

Growth is a mutual process, says Brandix Group Head of CSR

Brandix Apparel Group Head of Corporate Social Responsibility Malika Samaraweera discusses the impacts of internal and external community engagement by Sri Lanka’s premier apparel solutions provider.

Keells continues to provide freshest produce by strengthening value chain

Providing the highest quality of fresh produce at affordable prices to customers has been a priority for Keells. Thus, the journey commenced three decades ago, when Keells started collaborating directly with farmers, setting up collection centres to ensure that the freshest produce was made available to customers. Establishing the concept of from farm to stores within 24 hours, maintaining freshness and three-stage quality checks, Keells furthe

CTC’s top performers recognised at Pinnacle Awards 2022

The annual Pinnacle Awards of Ceylon Tobacco Company PLC (CTC) was held recently to celebrate its high-performing commercial team members. The coveted award of the night, Trade Marketing Executive of the Year 2022, was clinched by Amindha Perera for demonstrating exceptional performance in the field.

Port City Colombo inks MoU with Thai-Sri Lanka Chamber of Commerce

Port City Colombo (PCC), Sri Lanka’s most ambitious integrated development project and the country’s first foreign currency designated Special Economic Zone dedicated to exports of services, has taken a significant step towards fostering stronger ties between the Thai and Sri Lankan business communities.

Profood Propack & Agbiz 20th edition announced

The Sri Lanka Food Processors Association (SLFPA) and Lanka Exhibition and Conference Services (Pvt.) Ltd recently announced the highly anticipated 20th edition of the Profood Propack & Agbiz Exhibition, taking place from August 4-6, 2023, at the BMICH Exhibition Centre, Colombo. The event is proudly endorsed and supported by the Industries Ministry, National Agribusiness Council and Institute of Food Science and Technology Sri Lanka

Samson Rajarata Tiles begins export of terracotta floor tiles to Lebanon

Sri Lanka’s No.1 natural roofing and floor tile manufacturer Samson Rajarata Tiles (Pvt.) Ltd expanded its global footprint by commencing floor tile exports to Lebanon this month. The first consignment, consisting of two container loads of terracotta floor tiles, was shipped to Lebanon on July 15.