Development and Economic News
“Chinese investors pledge USD 550 Mn FDI for Port City”
Investment Promotion State Minister Dilum Amunugama said that he has succeeded in obtaining over USD 550 million worth of Foreign Direct investments (FDI) to Sri Lanka after he visited and met Chinese investors last week.
Sri Lanka factories demand reduction in water tariff
Factories are to face another shock with the increase in the water tariff by 170 per cent.
IMF to offer wavers for nonfulfilled commitments of the reform program
The International Monetary Fund (IMF) team now in Sri Lanka is nearing completion of its preliminary review on the fund-supported economic reform program with some reservations relating to quantitative performance, informed official sources divulged
Sri Lanka explores opportunities to export eggs and chicken
Minister of Agriculture Mahinda Amaraweera instructed the relevant officials to look into the opportunities of exporting eggs and chicken.
Passenger ferry service from TN to Sri Lanka befins from Oct first week
The Shipping Corporation of India (SCI) is to commence high speed passenger ferry service from Nagapattinam in Tamil Nadu to Kankesanthurai (KKS) in Sri Lanka.
LOLC Holdings buys Unguka Bank PLC, in Rwanda,
LOLC Holdings PLC discloses that its sub-subsidiary LOLC Mauritius Holdings Limited, has acquired 90% of the ordinary voting shares of Unguka Bank PLC, in Rwanda, on 14th September 2023.
Softlogic buys International Brand "Bata" for Rs 230 million
Manufacturing License and Distribution Rights & Exclusive Retail Franchise Rights of the Renowned International Brand "Bata" and the Acquisition of Footwear Retailer Ltd
Sri Lanka Railways goes inder the hammer of privatization
Sri Lanka Railways is set to be partly privatized under public private partnership to provide abetter convenientand efficient service for commuters in accordance with the governmnt’s IMF dictaded policy of restrcuturing state institutions.
10 SL organic farming businesses display their export potential in Berlin
A high profile event held at the Embassy of Sri Lanka in Berlin on 8th September provided a unique platform for 10 Sri Lankan companies to showcase their organic agriculture products with export potential and connect them with potential buyers and investors in Europe.
South Korea pledges support for President Ranil’s economic recovery plan
South Korean President Yoon Suk-yeol pledged his support for President Ranil Wickremesinghe’s economic recovery plan for Sri Lanka and praised his counterpart’s program aimed at alleviating the severe economic crisis in the country and commended his dedication.