Sri Lanka’s government will spend Rs. 160 billion to 200 billion to bring developmental revolution in the country, within the current and next year, Prime Minister Ranil Wickremesinghe had said addressing a meeting held recently at the Kelebokka state plantation playground to mark the distribution of 500 plots of land in extent of seven perches…
Sri Lanka’s Finance and Media Minister Mangala Samaraweera had told reporters on last Friday that government is expecting to sell the owning company of Colombo Hilton Hotel and the former Ceylinco Group owned now Government owned building where a Hyatt hotel was expected to emerge. “We’re hoping, especially the Hilton and the Hyatt, will be…
The Ceylon Institute of Builders (CIoB), a renowned group of engineers and builders of Sri Lanka, had recently pointed out that the China International Contractors Association (CHINCA) has a stake in 40% of construction projects in the country, a media report said. The reports also highlight that the Chinese companies are involved in as much…
Implements one of the region’s largest recorded multi-site roof mounted projects MAS Holdings (Pvt.) Ltd., the region’s number one design to delivery apparel and textile solutions provider, recently announced the launch of its pioneering renewable energy drive ‘Photon’. Implemented in line with the group’s key environmental goals, Photon will see the installation of 24…
The healthy growth in the number of tourists arriving from India, the United Kingdom and Australia resulted in tourist arrivals increasing by 12.6 per cent in April 2018 in comparison to April 2017. Total tourist arrivals during the first four months of 2018 grew by 16.1 per cent to 888,353 in comparison to the corresponding period of 2017….
The Cabinet has granted approval to the proposal made by the Minister of Health, Nutrition and Indigenous Medicine to carry out the project for the construction of the Cardiac and Critical Care Complex of the Lady Ridgeway Hospital for children as a Joint Venture with the coordination of the Ministry of Health, Nutrition and Indigenous…
Reuters – Sri Lankan shares closed firmer on Friday, recovering from four consecutive sessions of decline to a near 15-month closing low, as investors picked up battered stocks. However, foreign investors continued to offload the island nation’s risky assets, limiting the gains. The Colombo stock index ended 0.21 percent higher at 6,194.63, but posted a…
Merchandise export earnings remained unchanged at US dollars 795 million when compared with April 2017. Earnings from industrial exports showed a slight growth while agricultural and mineral exports declined. Under industrial exports, earnings from food, beverages and tobacco exports rose driven by the increase in coconut related products categorised under vegetable, fruit and nut preparations….
Sri Lanka’s external sector strengthened in April 2018 with continuous inflows to the financial account of the balance of payments (BOP) despite the mixed performance demonstrated in the current account. Higher inflows to the financial account, particularly with the proceeds of the 12th international sovereign bond (ISB) issuance, project loans and FCBU loans and foreign…
In a recent article (June 28th 2018) written by contributor Panos Mourdoukoutas to globally famous American Business Magazine – Forbes titled “China Is Doing The Same Things To Sri Lanka Great Britain Did To China After The Opium Wars”, it points out that China is turning Sri Lanka into a modern day “semi-colony,” the same…
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