Speaking highly of the sound traditional friendship and all-round partnership between the two countries, Deputy Minister Quy agreed to propose an early visit by Vietnamese leaders to Sri Lanka. Sumith Nakandala stated that the consultation is one of th…
Apr 12, 2018 (LBO) – Sri Lanka’s cabinet of ministers has called for an action plan for expediting the activities related to exploration and production of petroleum. It has been planned to enter in to agreements with selected companies to explore the petroleum in Eastern Coastal area and shallow sea …
ECONOMYNEXT – Chevron Lubricants Lanka has said profit margins were getting squeezed with intensifying competition and rising costs and the industry struggling with excess blending capacity. Net profit at Chevron’s Sri Lanka unit fell 26% to Rs. 2.6 billion in 2017 from a year ago. “The decline in …
Cardinal Ranjith even wrote to Sri Lanka’s president urging that tutorial classes be banned on Sundays from 6am to 2pm so they do not interfere with religious instruction. Many private tutors work at weekends focusing on secular studies as this can result in a lucrative side income given the intensifying …
“The Colombo International Container Terminal, a Sino-Lankan joint venture, has become the fastest growing container terminal in the world. The newly completed Moragahakanda Project, which is the biggest reservoir in Sri Lanka, has brought great benefi…
ECONOMYNEXT – Sri Lanka’s bond markets were active after a ceiling rate cut, which was followed up with tens of billions of rupees worth of cash injections below the ceiling rate, which has left money markets flushed with printed money, dealers said. On Tuesday ahead of a bill auction, bonds were …
Apr 10, Colombo: The highest foreign direct investment in the history of Sri Lanka has been recorded during the year 2017, according to the Finance Ministry. The foreign direct investments received by the country during 2017 is around US$ 1.9 billion (…
The Met Office also said that on the apparent northward relative motion of the sun, it is going to be directly over the latitudes of Sri Lanka during 05th to … The nearest areas of Sri Lanka over which the sun is overhead today (10th), are Kalkuda, W…
A familiar face is back on walls across Sri Lanka. The country’s former president Mahinda Rajapaksa has been grinning from thousands of posters and billboards recently, palms pressed together in gratitude. Voters delivered a shock repudiation of Rajapaksa’s government three years ago, as the UN …
Apr 10, 2018 (LBO) – Sri Lanka’s government is looking at attracting up to US 2.5 billion dollars in Foreign Direct Investments (FDI) in 2018, and to double it to US 5 billion by 2020, a statement said. In 2017 the the highest FDI inflows came from China, followed by Hong Kong, India and Singapore, the …