Amidst the azure waters of the Indian Ocean, Sri Lanka’s ambitious urban development, Port City Colombo, emerges as a beacon of Sri Lankan economic development. With an injection of US $5.6 billion projected in foreign direct investment, this icon of innovation stands poised to redefine the island’s economic landscape. Touted as a service export Special…
SriLankan Airlines, the national carrier of Sri Lanka and a member of the oneworld alliance, achieved the highest ever monthly revenue in Company history in December 2017. The air-transport operation of the Company recorded a stand-alone revenue of US Dollar 100.1 million – the first instance in the 38-year history of the airline where monthly…
Amid Sri Lanka’s striving towards economic stability, VAT benefits emerge as a cornerstone of the proposed tax reform. With an eye on bolstering the tax-to-GDP ratio, crucial for robust fiscal health, the country considers amendments to its taxation framework. As part of the IMF stabilization program, Sri Lanka is urged to enhance its tax-to-GDP ratio,…
Amidst an ever-evolving economic landscape, the Asian Development Bank (ADB) has made a resolute commitment to stimulate economic development by providing a $100 million ADB loan extension to support SMEs in Sri Lanka. This initiative is poised to empower local enterprises, ensuring they have equitable access to financial growth opportunities essential for their expansion and…
The landscape of logistics services in Sri Lanka is marked by the dynamic interplay of its vibrant import/export sector, robust freight forwarding capabilities, and ongoing efforts in trade facilitation. However, this environment is not without its trials, particularly when it comes to maintaining equitable terms of trade. In the realm of shipping and transportation, credit…
Amid its most challenging economic downturn post-independence, Sri Lanka is actively examining fiscal reforms, including a critical Sri Lanka tax policy alteration. The government’s contemplation of a VAT rate cut, anticipated to roll out in the second quarter of 2024, signifies a strategic maneuver within the 2024 tax amendments to reinvigorate economic growth. This tax…
Sri Lanka’s Ministry of Shipping and Ports says last year 183 ships arrived at the Magampura Mahinda Rajapaksha Port in Hambantota Port. Out of these ships, 175 ships were cargo ships. In 2017, 126,514 tonnes have been unloaded at the Magam Ruhunupura Mahinda Rajapaksa Port and 46,835 tonnes have been shipped from the Port. The…
The island nation of Sri Lanka, historically known for its enchanting beauty and strategic maritime position, is charting a new course in economic transformation. At the crux of this journey lie the burgeoning sectors of Information Technology (IT) and biotechnology advancement, propelling the country towards innovation and global competitiveness. With continual efforts to bolster the…
Ward Place in Colombo has been closed for traffic from Town Hall due to a protest by university students, Ada Derana reporter said. The Inter University Students’ Federation (IUSF) organised the protest march in Colombo today (21), demanding solutions for the issues of South Eastern University students. The agitation is also against the recent statements…
In 8 coordinated attacks around Sri Lanka, 215 people were killed and 449 were injured. the death toll included 35 foreign nationals. the nationalities were USA, Denmark, Pakistan, India, Morocco, China, Japan and Bangladesh. 7 persons have been arrested and an island-wide curfew has been imposed until 6 a.m on Monday morning. Schools throughout the…
Mr. Moon Chan Kim the Co-founder and technical adviser of E&D Co., Ltd, a company which provides environment and energy technology solutions. Its products include EnDsel-PF, a device that reduces the particulate matter, carbon monoxide, and hydrocarbon emissions from diesel vehicles; and EnDsel-PPF, a solution for emission control from light and medium duty diesel vehicles. He…
Generating Business Ideas While on SLTB Buses Undertaking a journey on Sri Lanka Transport Board (SLTB) buses isn’t just about transit from one destination to another; it’s become a dynamic environment for innovative thinking and business idea generation. Navigating through the bustling streets and serene landscapes of Sri Lanka, these state-owned buses harbor potential for…
In a reaffirmation of its superiority in providing unbeatable connectivity and a superior user experience SLT-MOBITEL Mobile was again ranked as the most ‘fastest Mobile Network by Ookla the world’s leader in mobile and fixed broadband network testing software including data analysis and data. This recognition is a testimony to SLT-MOBITEL’s commitment to provide record…