Adani’s wind power tariff of 24.78 LKR per unit is the lowest in the country, cheaper than the CEB’s 100 MW Wind power plant at Thambapavani and significantly lower than oil-based power at 80 LKR per unit. By replacing higher-cost, import-dependent fossil fuel power, Adani’s project will save Sri Lanka over US$ 270 million annually…
By Jithendra Antonio Fossil fuels, which primarily have been cornerstone of industrial development and modern society for over a century, is well on its way to become the very reason for its eventual downfall. The environmental and economic costs associated with these fuels are alarming. Fossil fuels emit Greenhouse Gases which trap heat, leading to…
Lankem Ceylon PLC, a leading entity in Sri Lanka’s corporate sphere, has formally announced plans to venture into fertilizer manufacturing with the establishment of a new plant in Oyamaduwa, situated within the Anuradhapura district. This initiative, in accordance with Section 8 of the Listing Rules, marks a significant strategic move for the company. To oversee…
PickMe, Sri Lanka’s premier ride-hailing platform, has collaborated with PhonePe, India’s leading fintech company, to enable seamless UPI-based QR payments for Indian travellers in Sri Lanka. The partnership signifies a major step forward in enhancing their travel experience through the convenience of cashless transactions on PickMe rides, right from the moment they exit the Bandaranaike…
Global hotel owner and operator Minor Hotels has added two properties in Sri Lanka, marking the introduction of its upper-upscale NH Collection Hotels & Resorts and upscale NH Hotels & Resorts brands in the country. Minor Hotels will manage the two properties, one in the Sri Lankan capital of Colombo and the other in the…
The International Monetary Fund (IMF) says there is a strong expectation that Sri Lanka will soon reach agreements with external commercial creditors consistent with program parameters. “So overall we assess that there has been sufficiently strong progress on the debt restructuring front,” Julie Kozack, Director of the IMF Communications Department, said during a press briefing…
SOZO Beverages Pvt Ltd, a leading innovator in the non-alcoholic beverage industry, proudly announces its strategic partnership with International Distillers Ltd (IDL), a premier player in the alcohol beverage sector. With its handpicked fruit juices and artisanal mixers, SOZO’s product portfolio beautifully complements IDL’s premier range of alcoholic beverages. IDL’s capital infusion through its parent…
The President has instructed the introduction of relief packages for the education and fishing sectors. State Minister of Technology, Kanaka Herath, announced that the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted preliminary approval for ‘Starlink’ to provide satellite-based internet services in Sri Lanka. The State Minister emphasized that a two-week period has been…
Emirates and Condor have signed a reciprocal codeshare partnership that will start from October 2024, subject to government approvals. The new agreement will offer seamless connections and expanded choices for Emirates customers connecting on Condor-operated flights via Germany to popular destinations in Majorca and the Canary Islands as well as international points in North, Central…
State Minister for Finance Dr. Ranjith Siambalapitiya says that 44,430 vehicles have been released to the market during the period when import restrictions were imposed. Among them are 38,144 motorcycles and 6,286 cars, the minister points out. This information was revealed in a discussion held at the Ministry of Finance with a group of local…
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