Tourism Minister Harin Fernando disclosed that three out of four potential parties are Indian companies that are shortlisted to buy Hotel Developers Lanka Ltd., the owning company of the popular five-star Hilton Colombo. “Most probably it will go to an Indian firm,” he said speaking at the Sri Lanka Tourism Networking Evening held recently in…
Sri Lanka is accelerating its push for free trade agreements (FTAs) with key regional and global partners, aiming to finalize deals with India, Indonesia, Malaysia, Vietnam, and China by the end of 2024. This ambitious plan, announced by Foreign Affairs Minister Ali Sabry, seeks to boost the nation’s economic growth and competitiveness by opening up…
Prime Minister Srettha Thavisin, during the recent Sri Lanka – Thailand Business Networking event, highlighted the thriving economic relationship between the two sides, pointing out the Thailand-Sri Lanka Free Trade Agreement (FTA) as a milestone showcasing mutual confidence in the economic prospects of both nations. The trade between Thailand and Sri Lanka has witnessed a…
As Thai Prime Minister Srettha Thavisin prepares to visit Sri Lanka on February 3-4, the recently released trade data sheds light on the burgeoning economic relationship between the two countries. The visit, which will culminate in the signing of a free trade agreement (FTA), further solidifies this promising direction. According to oec.world, in 2021, Thailand…
In a recent educational workshop organized by the We Have a Dream Collective on January 19, 2024, Mr. Sarath Jayamanne, President’s Counsel and former Director General of the Bribery Commission, shed light on the main features of the groundbreaking Anti-Corruption Act No. 9 of 2023. The Act, designed to combat bribery and corruption, introduces several…
Commenting on the sky rocketing vegetable prices, the Trade, Commerce, and Food Security Minister Nalin Fernando said if vegetables were imported, vegetables such as a kilo of carrot, beans and leeks can be supplied at Rs. 300 to Rs. 350. “I informed the Secretary to the President to convene the Food Policy Committee and asked…
Colombo Port Experiences Surge in Traffic Amid Red Sea Crisis Sri Lanka’s Colombo port has witnessed a significant increase in container volumes in recent weeks as vessels seek alternative routes to avoid the tensions in the southern Red Sea. Yemen’s Iran-backed Houthi rebels’ attacks on ships in this vital shipping route prompted some shipping companies…
Hundreds of thousands of Sri Lankan drivers who’ve been stuck with flimsy paper licenses can finally breathe a sigh of relief. The Department of Motor Traffic (DMT) has announced it will clear the backlog of 865,000 temporary licenses by October this year, replacing them with proper laminated cards. This welcome news comes after months of…
Hatch, recognised as a leading organisation in Sri Lanka’s innovation and entrepreneurship domain, welcomed Her Royal Highness Princess Anne, The Princess Royal to their co-working space during her official visit to Sri Lanka. The tour of Hatch offered her an immersive experience into the dynamic entrepreneurial spirit of Sri Lankan startups. In conjunction with the…
Sri Lanka’s Liquefied Petroleum Gas (LPG) market is set to welcome a new player! Indian giant Pune Gas has partnered with 3DH Group to form Lanka Gastech, a joint venture poised to shake up the sector. This move comes as Sri Lanka’s industrial and commercial sectors increasingly seek sustainable energy solutions. Jesal Sampat, Executive Director…
