Development and Economic News

ProClime Services Pvt Ltd, a start-up focused on the climate sector, aims to invest about $150 million in carbon projects across sectors in India and Sri Lanka over the next 12-18 months.

The Cabinet of Ministers has approved the proposal presented by the Minister of Power and Energy to appoint a committee to study the matter and make recommendations to prepare a necessary legal framework for the introduction of a regulatory body for energy sector.

Capital A CEO Tan Sri Tony Fernandes clarified that it is AirAsia Consulting Sdn Bhd that is bidding to acquire SriLankan Airlines, and not AirAsia.

In a bid to address the concerns of the senior citizens grappling with withholding tax on interest payments, State Minister of Finance Ranjith Siyambalapitiya announced plans for a formal relief program aimed at providing immediate assistance.

President Ranil Wickremesinghe declared open the super-luxury hotel ‘ITC Ratnadipa Colombo’ which boasts Sri Lanka’s first ever sky bridge ‘AHASA ONE’ connecting two towers at a height of 100m above the ground.

Sri Lanka is set to host the 34th plenary meeting of the International Standards Organization Technical Committee for tea on July 24.

Sri Lanka’s revenue collecting bodies have outperformed and exceeded tax revenue target by 6 percent for the first quarter ended on March 31, State Revenue Minister Ranjith Siyambalapitiya said.

Tourism Minister Harin Fernando yesterday revealed plans to amend the recently implemented visa procedures, allowing tourists to apply for a single-entry 30-day visa starting from 1 May.

Malaysian budget carrier AirAsia is among six bidders for Sri Lanka’s state-run carrier SriLankan Airlines as the island nation looks to reduce losses incurred by government-owned enterprises under a US$2.9 billion (RM13.8 billion) International Monetary Fund (IMF) programme.

Sri Lanka’s tourism industry is anticipated to receive a boost from Indian pilgrims with the official launch of the Shree Ramayan Trails project.

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