Elon Musk is likely to arrive in Sri Lanka next month to launch his Starlink satellite-based internet service in Sri Lanka, an official said yesterday. The government, earlier, gave Starlink, the satellite unit of SpaceX, preliminary approval to provide internet services there. Afterwards, the government fast-tracked the process by even amending the Telecommunications Regulatory Act…
Star Garments, a subsidiary of Charles Komar & Sons, has secured a $15 million loan from the International Finance Corporation (IFC) to establish a new garment factory in Togo, marking their first venture into Africa. This factory, to be built in the Plateforme Industrielle d’Adétikopé near Lomé, will adhere to Leadership in Energy and Environmental…
Chethana Gomis Sri Lanka has objected to India’s proposal to explore cobalt deposits in the Indian Ocean. Thus, our country had objected to India’s recent proposal to obtain the necessary right to explore a cobalt deposit that may belong to the jurisdiction of Sri Lanka. Colombo argues that the area India wants to explore for…
Harsha Gunasena Ahilan Kadirgamar (hereinafter referred to as AK), whose colourful academic credentials i.e., bachelor’s degree in electrical engineering, master’s in economics and a doctorate in anthropology would impress anyone, has written an article titled “Kenya to Sri Lanka: Protests, IMF and High Ambition” to the Daily Mirror published on July 1, 2024 (https://www.dailymirror.lk/opinion/Kenya-to-Sri-Lanka-Protests-IMF-and-high-ambition/172-286106). I…
Sri Lanka reached a groundbreaking agreement with its private creditors to restructure its debt, becoming the first country to utilize a Governance-Linked Bond (GLB). This innovative financial instrument was designed by Verité Research in Colombo. The Verité-GLB adjusts repayments based on the country’s achievement of mutually agreed governance benchmarks. If these benchmarks are met, Sri…
The maritime world is abuzz with the news that the Megamax container ship, Ever Ace, was scheduled to dock at the Colombo East Container Terminal (CECT) of Colombo Port yesterday. This event marks the second visit of the Ever Ace to Colombo, but notably, it will be the first time the ship calls at a…
by Arundathie Abeysinghe Colombo (AsiaNews) – India is trying to secure exploration rights for a cobalt offshore deposit that could fall under Sri Lanka’s jurisdiction. New Delhi is driven by competition with Beijing, but Colombo also wants to extract minerals that are crucial for modern technologies, including for the energy transition. Cobalt is in fact…
Key Statistics Female Labour Force Participation in Sri Lanka: 29.4% Male Labour Force Participation in Sri Lanka: 67.4% Comparison with Other Countries: Indonesia: 53% Malaysia: 52% Vietnam: 68% Singapore: 62% Sri Lanka’s labour force participation rate for women remains alarmingly low, highlighting a significant gender disparity in the country’s employment landscape. According to recent data,…
The Parliamentary Committee on Government Accounts has emphasized the critical need for the Labour Department to establish a continuously updated data system, stressing its importance for public safety. This urgent recommendation emerged from a meeting chaired by State Minister Lasantha Alagiyawanna, which reviewed the Auditor General’s reports for 2021 and 2022 and evaluated the current…
Sri Lanka Energy Project (SLEP) has received top honors at the 2024 annual conference for the Society for International Development, the premier U.S. event for international development professionals. The award was given in recognition of the innovative solar-powered electric vehicle battery swapping stations owned and operated by Sri Lanka’s Sling Mobility (Pvt.) Ltd., particularly highlighting…
