Stuart Gibson, Co-Founder & Co-CEO of Hong Kong listed ESR Cayman Ltd, one of APAC’s largest logistics property platforms, visited Sri Lanka recently.

As commodities prices gain with the recovery in global economy beset by the pandemic, price of sugar, which is a major imported consumer commodity in Sri Lanka, is expected to rise in tandem with other agricultural commodities.

Asian markets rose yesterday but optimism over the pace of economic recovery continued to be offset by worries about rising infections across Europe and the continent’s vaccine struggles, with inflation concerns casting an ever-present shadow.

Approval was granted at the Cabinet meeting held on January 4, 2021 to establish the Colombo Port City Special Economic Zone (SEZ), which will be an international business and services hub with specialized infrastructure facilities.

In a fresh attempt to expedite repatriation of Sri Lankan migrant workers awaiting to return to the country, Sri Lanka Bureau of Foreign Employment (SLBFE) has selected 10 private sector hotels and guest houses as quarantine centres to provide quaran

The Cabinet of Ministers this week gave the approval for a proposal to lift the suspension on ceramic imports, which remained banned for nearly a year, after the industry stakeholders met with the Treasury Secretary earlier this month, seeking redres

To shore up the country’s image as a preferred investment destination, the Sri Lankan government plans to obtain the assistance of an international consulting firm for the promotion of the country’s improving investment and business climate to pr

National Authority of Tobacco and Alcohol (NATA) Chairman Dr. Samadhi Rajapaksa said his institution has sought clarification from the Attorney General’s Department with regards to the ‘Ayurvedic Cinnamon Cigarette’ that is being manufactured a

Tugboats and diggers are working to refloat a giant container ship that has blocked Egypt’s Suez Canal, one of the world’s busiest trade routes. The owners of the 400m-long (1312ft) vessel say it ran aground sideways after being hit by strong win

Labour Minister Nimal Siripala de Silva yesterday presented the National Minimum Wages Amendment Bill to Parliament, under which the government seeks to increase the monthly and daily minimum wages of workers.

Renewable energy giant WindForce Limited (WIND) said its Initial Public Offering (IPO) worth Rs.3.2 billion, which officially opened yesterday on the Colombo Stock Exchange (CSE), was oversubscribed on the opening day.

The government plans to bring in new legislation to set up a commission to look into the underutilised assets such as state lands and delayed condominiums, to be put to productive use.

The Colombo Port City Economic Commission Bill, aimed at setting up a special economic zone in Colombo Port City built by China, is expected to be submitted to Parliament, as the Legal Draftsman has completed the drafting of the bill specifying the p

Softlogic Holdings subsidiary Odel PLC yesterday said it entered into an agreement with the Urban Development Authority (UDA) to lease,

The Bolagala Floating Agro Tourism Resort in Katana, the first of its kind in Sri Lanka, has received approval from the Sri Lanka Tourism Development Authority (SLTDA) to open its doors in June.

The sector-wise breakdown of non-performing loans (NPLs) showed that manufacturing sector had recorded the highest rate among others such as agriculture, trade, tourism, construction and consumption.

R I L Property PLC will not suspend BreadTalk operations as announced, as the company is now in negotiations with a potential investor, who intends to acquire franchise rights.

A multi-pronged approach is required to rebuild the hard-hit economy, which was already on downward path even before the pandemic struck, according to senior economist and former central banker Dr. W. A. Wijewardena.

The Central Bank of Sri Lanka (CBSL) and People’s Bank of China (PBoC) have entered into a bilateral currency swap agreement, with a view to promoting bilateral trade and direct investment for economic development of the two countries and to be use

In an about-turn, Standard Chartered Bank (StanChart) upgraded its outlook on the Sri Lankan economy, after the country received the approval from China’s Central Bank for a US $ 1.5 billion equivalent currency swap arrangement.

Plantations Minister Ramesh Pathirana has ordered to establish the Kithul Development Board, to regulate and develop kithul (fishtail palms) as a main plantation crop in Sri Lanka.

Sri Lanka’s Cabinet of Ministers has granted approval to ratify the landmark International Labour Organisation (ILO) Convention on Eliminating Violence and Harassment in the world of work and to draft sweeping new laws and regulations to prevent vi

Headline inflation, as measured by the year-on-year (YoY) change in the Natio nal Consumer Price Index (NCPI), increased to 4.2 percent in February 2021, from 3.7 percent in January 2021.

The Hotels Association of Sri Lanka (THASL) yesterday stressed that the moratorium alone is insufficient to tackle the ongoing crisis faced by the tourism sector and measures should be taken to extend an “innovative” stimulus package.

The remittance income from Sri Lankan migrant workers continued its climb in February, extending gains to its 10th consecutive month since last May.

Fits Aviation Pvt Limited (FitsAir) is gearing to commence flight operations from unpaved dirt-strips, targeting cities and locations with congested and time-consuming road networks such as Kandy and Nuwara-Eliya.

The State Oil Company of Azerbaijan Republic (SOCAR) this week said the company expects to join Sri Lanka’s upcoming LNG development programme by partnering with the Pearl Energy project.

Businesses tend to prefer consistent bad policies to inconsistent good policies, as such provides predictability when taking business decisions including expansions and new investments, a top private sector executive says.

The Colombo Stock Exchange (CSE) and Securities and Exchange Commission (SEC) are encouraging family-owned businesses to go public to make use of the concessions offered to new listings, while boosting the country’s capital market’s liquidity.

Announcing further relief to those who lost their savings to now defunct finance companies, the Central Bank last week said the maximum compensation that a depositor receives will be increased from Rs.600,000 to Rs.1.1 million.