Development and Economic News
CB expects the finalisation of debt restructuring process by June 2024
The Government has gained momentous progress on the debt restructuring process with the successful completion of the Domestic Debt Optimisation (DDO) which is expected to extend the maturity of domestic debt and reduce the stress on government finances, Central Bank Governor Nandalal Weerasinghe said .
US backs expansion of Sri Lanka’s ports sector
The Colombo Plan, with funding from the US Embassy, on Wednesday launched a three-year program to enhance the technical expertise of Sri Lanka Ports Authority staff and advance “smart” port operations at the Port of Colombo.
Govt. to establish Investment Infrastructure Facilities Corporation
The Government has decided to establish a new statutory body, the Investment Infrastructure Facilities Corporation.
Sri Lanka explores granite export amidst low domestic demand
Sri Lanka is set to export of granite stocks immediately, paving the way for a potential economic boost with the approval of the cabinet of ministers.
Cathay Pacific to resume direct HK-CBO flights after 4 year hiatus
After a four-year hiatus Cathay Pacific yesterday resumed direct flights between Hong Kong and Colombo encouraged by an upturn in tourist and business travel.
SL’s largest rice mill owner gets BOI approval for US$ 8.9 m tourism venture
The Board of Investment (BOI) has granted approval for the latest tourism initiative from the Araliya group, led by prominent businessman and largest rice mill owner Dudley Sirisena this week.
SL’s largest rice mill owner gets BOI approval for US$ 8.9 m tourism venture
The Board of Investment (BOI) has granted approval for the latest tourism initiative from the Araliya group, led by prominent businessman and largest rice mill owner Dudley Sirisena this week.
Adani wind power project adopts hi-tech system to protect birdlifed
The government has started the acquisition of lands, most of which are privately owned, for the Adani-backed 250MW Mannar Wind Power Project (MWPP), its final environment impact assessment (EIA) report states.
Oil & Gas Vessel Calls at Hambantota Port Surge 132% in 2023
The Hambantota International Port (HIP) witnessed a phenomenal year in 2023, with oil and gas vessel calls increasing 132% compared to 2022.
Sri Lanka’s Services exports recorded a new high in 2023
Sri Lanka’s Services exports recorded a new high in 2023 with a strong rebound whilst shipment of goods lagged amidst challenges as per provisional data released by the export development board yesterday.