The agreement for the Colombo Port City Development Project signed between the Government of Sri Lanka and the relevant project company on 16 September 2014 expired on 15 September 2015. A proposal by Minister of Ports and Shipping Arjuna Ranatunge, the Cabinet of Ministers approved the extension of this agreement for a further six months…
Colombo bourse extended losses for the third consecutive session amid domestic economic worries as the World Bank warned developing countries of a possible financial turbulence if US Fed decides to increase interest rates today. The investors’ remain cautious on weakening rupee, high interest rates which dragged the index to the negative zone. Rupee was further…
“Sri Lanka has great potential to attract Japanese investors who are interested in investing in Sri Lanka,” said His Excellency Kenichi Suganuma, Ambassador for Japan during His Excellency’s meeting with the Ceylon Chamber led Sri Lanka – Japan Business Co-operation Committee. Ambassador further mentioned that ASEAN is now saturated. Although India is a big market…
Having introduced Sri Lanka’s first IT Park in 2009, Orion Development, took its first steps towards the next milestone in the sector –Orion Towers, a state of the art, environmentally friendly, three-phase development in the heart of Colombowhich commenced construction recently. Since its inception Orion City has sought to transform the scope of built-to-specification, cutting…
The interchange of the Colombo Outer Circular Highway constructed near the Athurugiriya town would be opened along with the opening of the Kaduwela-Kadawatha stretch of the expressway, said a spokesman from the Ministry of Highways. The distance from this spot to Kadawatha is 15 kilometres while to Matara it is 138 kilometres. The nine kilometre…
Digital Holdings Lanka (Private) Limited, (DHL) a wholly owned subsidiary of Diaglog Axiata PLC, acquired 740,000 ordinary shares in issue amounting to 54.29 per cent, of Digital Commerce Lanka (Private) Limited in which Dialog holds a 45.71 per cent, for a total consideration of Rs. 247,900,000. Following this acquisition DHL and Dialog will hold 59.29%…
Sports? Tourism? They may seem quite unrelated, but in fact ‘Sport Tourism’ is a massive industry today amounting to well over $600 billion in value along with a sky-rocketing growth rate. It takes a twofold outlook, with ‘event sport tourism’ referring to popular events such as the World Cup that attract thousands of tourists and…
Colombo stocks lost further ground on Wednesday after trading in a narrow range as most of the investors remained hesitant to make big trades. The much anticipated Fed policy meeting, the domestic economic concerns along with the outcome of the UNHRC meeting are seemingly keeping the investors on the sidelines. The benchmark ASI lost 15.03…
The Ceylon Electricity Board (CEB) is to introduce a concessionary rate of Rs. 13.00 per unit on electricity bills for re-charging of electric motorcars at home during off-peak hours. According to the CEB this rate would be applicable from 10.30 pm to 5.30 am, considered as off-peak hours. While Rs. 54.00 per unit consumed is…
Call it the “Ram Setu” or “Hanuman Bridge”, the stretch of low-lying banks that connect India to Sri Lanka across the Palk Strait is very much part of the subcontinent’s Ramayana lore. Lord Ram, the story goes, built this bridge with the assistance of Hanuman’s monkey army, walked into Lanka to rescue his consort Sita…
Video Story
