IFC, a member of the World Bank Group, on Wednesday announced an investment of $27 million in Sri Lanka’s Melwa Hotels and Resorts Private Limited. The financing will help Melwa Hotels, a subsidiary of Melwire Rolling Private Limited, develop three new hotels outside of Colombo, in Yala, …
China’s Belt and Road Initiative leads the news today as one of the biggest players in the global infrastructure drive kicks off talks with potential investors for an estimated $4 billion in real estate deals linked to a Sri Lankan port project. On a slightly greener note, one of Singapore’s largest developers has …
Sri Lanka’s central bank Wednesday called for political stability amid mounting tensions in the ruling coalition and as the economy recorded its slowest growth in 16 years. The Central Bank of Sri Lanka warned that the government should press ahead with economic reforms even as the coalition lost its …
A delegation of 51 Sri Lanka-based tourism and hospitality companies visited Arabian Travel Market in Dubai to develop tourist arrivals and demand. Sri Lanka Tourism Promotion Bureau has successfully concluded a press conference at Arabian Travel Marke…
ECONOMYNEXT – Sri Lanka’s tour operators have protested a decision by a regulatory agency not to take action against hotels built on the coast illegally, which could be contributing to the rise in crime against tourists, saying it will harm the image of the country. The Sri Lanka Association of Inbound …
The reshuffle took place after the defection of six ministers from the Sri Lanka Freedom Party (SLFP) to the opposition last month. The defected ministers had voted in favour of a no-confidence motion on Prime Minister Ranil Wickremesinghe when it was …
SLAITO members are disappointed to hear about the suspension as this issue is being monitored by tour operators who are waiting to see a swift response from authorities as they are responsible for the safety of tourists they send to Sri Lanka. The ille…
Six elephants have died after eating PLASTIC that had been dumped at a landfill site in Sri Lanka. Rubbish from nearby areas is taken to the dump in Deegawapi but has since attracted numerous wild animals – including birds, dogs and even now the elepha…
COLOMBO (Reuters) – A Chinese-backed real estate project near Sri Lanka’s main port is in discussion with investors for up to $4 billion in investments in its first phase, the developer said on Wednesday. Work on the $1.4 billion Port City project by China Communication Construction Company (CCCC) …
Sri Lankan President Maithripala Sirisena visits the residence of internationally recognized film director Dr. Lester James Peiris on the occasion of his 99th birthday on April 5 in Colombo. Peiris passed away three weeks later. (Photo supplied) …