Shirajiv Sirimane

Eravur Fabric Park to draw over USD 300 mn FDI in next 2 years

Despite the current economic issues there is an overwhelming foreign and local investor response for the Eravur Fabric Processing Park in Batticaloa by the end of the year it will have over USD 300...

Abans, EWIS combine to assemble Lanka’s first 4G Smartphone

For the first time, Abans PLC, partnered with EWIS Colombo Limited (ECL), to produce and market locally assembled smartphones. These would be 4G enabled and would be...
Excise Dept. targets USD 50 mn from liquor exports

Sri Lanka hopes to get around USD 50 million export revenue from locally made liquor sales in 2023, Commissioner General of Excise Department of Sri Lanka, M.J. Gunasiri said...
Govt to re-negotiate USD 400 mn ADB loan

The Government is re-negotiating with the Asian Development Bank to obtain USD 400 million for road development and also settle long overdue amounts due to local contractors...
Non availability of jet fuel causing SriLankan USD 7 mn monthly losses

Srilankan airlines losses around USD 7 million each month due to difficulties the airline faces in obtaining aviation fuel, said aviation industry specialist and current...

“If promoted palm oil industry could save country billions”

Businessman and Minister of Investment promotion Dhammika Perera has stated to bat for the Palm oil industry in a bid to save the country several billion incurred annually towards Palm oil imports.In...
GFlock to net in USD 5 bn revenue by 2027

Local clothing brand GFlock will launch a mega campaign to launch their products globally mostly targeting the Sri Lanka diaspora said fashion designer, CEO and founder GFlock, Ranil Willadarage. (...
Sri Lanka Tourism to seek help from int’l lending agencies

Sri Lanka Tourism will look at International lending agencies such as Asian Development Bank (ADB) to seek their financial assistance to bail out the industry, said Hotelier Asoka Hettigoda.He said...
PM to present Interim Budget end July

Prime Minister Ranil Wickremesinghe will present an Interim Budget at the end of July offering over Rs. 200 billion as incentives to low- income families as well as the Small and Medium sector.The...
SLBA to halt paying bank, lease rentals from July 14

The Sri Lanka Business Alliance (SLBA) said that they have brought their grievances to the government on many occasions but with no avail. If the government keeps on cold shouldering the SME sector...
Cabinet approved moratorium yet to be implemented

The Cabinet approved a six month moratorium for the Tourism sector 21 days ago but it’s yet to be implemented, a tourism stakeholder said at a joint press conference yesterday.Asoka Hettogoda said...
Indonesia still keen for PTA with Sri Lanka - Ambassador Tobbing

Despite the current economic crisis in Sri Lanka, Indonesia is still keen to enter into a preferential trade agreement (PTA) with Sri Lanka,Indonesian Ambassador to Sri Lanka Dewi Gustina Tobbing...
Sri Lanka should market its unique scenery and facilities to Indian film industry

Sri Lanka Tourism should market its unique scenery and facilities to the Indian film industry in a more aggressive manner, said CEO Inspiredge, business development consultancy Sumit Bothra.An...
Banks shouldn’t be like ‘Shylocks’

Sri Lanka banks, leasing companies and pawning centers should adopt a lenient approach when trying to take back their dues from customers, said diversified entrepreneur and Chairman Araliya Holdings...
Over 30% agri, livestock and fisheries produce wasted – ISMM

Sri Lanka still loses and allows the perishing of over 30 to 40% of its agricultural, livestock and fisheries produce due to non-use of proper transportation methods and lack of proper cold storage...
No impact on tea exports to Russia - Industry

The Russian Aeroflot issue has not had any negative impact on the Sri Lanka tea exports nor the Tea Auction prices so far, tea stakeholders said.Chairman, Colombo Tea Broker’s Association Niraj De...
“Aeroflot issue may impact on SL”

The commercial court decision to suspend an Aeroflot flight from leaving Colombo airport will bring in major negative implications to the already bleeding Sri Lankan economy if not diplomatically...
Taiwan to help with labour cooperation and employment

According to a news article in early 2022, there are about 22,000 Sri Lankans working in South Korea contributing to USD 520 million in forex remittance. This number accounts for 7.75% of forex...
BOI exporters increase revenue by USD 250 mn in first 3Ms of 2022

Despite the negative economic sentiments the Board of Investment approved export companies have brought in increased revenue of USD 250 million in the first three months of 2022 to Sri Lanka.The...
SLPA receives 18 investment proposals

Sri Lankan Port Authority (SLPA) has received 18 proposals from global and local investors for the proposed development of the Galle Port, Chairman SLPA Dr. Prasantha Jayamanna saidHe said that they...