The Government of the Democratic Socialist Republic of Sri Lanka and the Government of the Federation of Saint Kitts and Nevis in accordance with the interests and desires of the peoples of both countries have decided to establish diplomatic relations between the two countries with effect from 22 March 2021. The establishment of diplomatic relations…
Leading global manufacturing company Star Garments Group (‘Star’) recently established a state-of-the-art factory in Buttala in the Monaragala District, with the view of promoting inclusive growth and supporting the nation’s efforts in uplifting regional economies. This is the group’s eleventh factory in Sri Lanka and will go on to provide job opportunities for over 1,000…
CAIRO (Reuters) -The stranded container ship blocking the Suez Canal for almost a week was re-floated on Monday and is currently being secured, Inchcape Shipping Services said, raising hopes the busy waterway will soon be reopened. The 400-metre (430-yard) long Ever Given was successfully re-floated at 4.30 am local time (0230 GMT) and was being…
A meeting of the Enterprise Development Advisory Council (EDAC) was held on March 26 at the Shangri-La Hotel under the patronage of Hon Ajith Nivard Cabraal, Minister of State for Finance and Capital Markets and Public Enterprise Reforms. The progress of the subcommittees on ICT, Doing Business, Stock Market and Automobile initiated during the previous…
The Silk Road Journal – by Mahika Ming When the United States of America (USA) and Canada were constructing their first ever railroads, thousands of Chinese slaves were taken across the Pacific by the colonial rulers to work in these mega projects. As per records thousands of Chinese peasants have died constructing railroads in the…
The approval was granted at the cabinet meeting held on the 04th January 2021 to establish the Colombo Port City Special Economic Zone which will be an International business and services hub with specialized infrastructure facilities. Port City investor company, CHEC Port City Colombo (Pvt) Ltd. welcomes the Government’s move and expects this initiative will…
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. Gibson and his senior management team held talks with the top level of the Sri Lankan government including President Gotabaya Rajapaksa, Prime Minister Mahinda Rajapaksa, State Ministers Nivard Cabraal, Tharaka Balasooriya, D.V….
The Minister of Trade Bandula Gunawardena stated that soybean oil can be used instead of coconut oil and that soybean oil is being sold at lower prices throughout Sri Lanka through Sathosa outlets, promoting local soybean cultivation. The Minister made this statement in Parliament today (26). “As a substitute for coconut oil, local soybean cultivation…
SINGAPORE (Reuters) – Reeling from the blockage in the Suez Canal, shipping rates for oil product tankers have nearly doubled this week, and several vessels were diverted away from the vital waterway as a giant container ship remained wedged between both banks. The 400-metres long Ever Given has been stuck in the canal since Tuesday…
Russian billionaire Andrey Igorevich Melnichenko, who met PM Mahinda Rajapaksa, visited the Hambantota International Port (HIP) during his visit to Sri Lanka last week. During discussions with the port’s top officials, he had shown keen interest in the potential to develop regional distribution of fertilizer via the Hambantota International Port. “This is well in line…
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