Sri Lanka: A country trapped in debt

Sri Lanka: A country trapped in debt

Colombo, May 26 – China is investing billions of dollars in infrastructure and developments in Sri Lanka, but many local citizens feel the country is being sold to the Chinese. Normally the roads leading to Asian ports are bustling. Trucks loaded with cargo. Small shops where lorry drivers and workers take a tea break. Hambantota port […]

Experts discuss connecting Colombo to mega Port City via Light Rail Transit

Experts discuss connecting Colombo to mega Port City via Light Rail Transit

Colombo, May 24 (NIA) – A group of senior officials from the mega 1.4 billion dollar Colombo Port City Development project met the transport master plan team of Sri Lanka’s Western Region Megapolis Project to discuss the ongoing study on Light Rail Transit (LRT) lines and its connectivity to the Port City. Dr. Dimantha de Silva, […]

US firm wins design competition held for the China-funded and executed Colombo Port City

US firm wins design competition held for the China-funded and executed Colombo Port City

Colombo, May 22 (newsin.asia): The renowned American firm of architects, Skidmore, Owings & Merrill (SOM), has won the design competition held for the China-funded and executed US$ 1.4 billion Colombo Port City. SOM won the Design Idea International Competition for its ability to combine modernity with the tradition and culture of Sri Lanka. The Port […]

Sri Lanka’s Softlogic gets franchise for Baskin-Robbins ice cream

Sri Lanka’s Softlogic gets franchise for Baskin-Robbins ice cream

Colombo, May 19 (NIA) – Sri Lanka’s Softlogic Holdings group said it had acquired the franchise for Baskin-Robbins ice cream, which would help expand its retail and fast food restaurants business. Softlogic Restaurants (Private) Ltd., a group subsidiary, had acquired the exclusive master franchise for Baskin-Robbins ice cream and its allied products in a deal with […]

Much awaited Sri Lanka, China FTA to be signed this year

Much awaited Sri Lanka, China FTA to be signed this year

Colombo, May 17 (NIA) – Sri Lanka and China will sign a Free Trade Agreement (FTA) this year as China pledged to increase its investments in the island country. In discussions held between Sri Lankan Prime Minister Ranil Wickremesinghe and Chinese Prime Minister Li Keqiang in Beijing late on Tuesday evening, the Chinese leader also pledged support and cooperation […]

India’s OBOR “debt” propaganda failed at Beijing summit

India’s OBOR “debt” propaganda failed at Beijing summit

By P.K.Balachandran/www.bdnews24.com After India warned developing countries which joined China’s global One Belt One Road or OBOR project that the scheme would cast an unbearable debt burden on their shoulders, China said India’s propaganda had no takers. Commenting on the Indian statement, the official Chinese newspaper, Global Times, said that even if India joins the […]

Sri Lankan Prime Minister calls for freedom of navigation at OBOR summit in Beijing

Sri Lankan Prime Minister calls for freedom of navigation at OBOR summit in Beijing

Beijing, May 15 (newsin.asia): In a speech at the One Belt One Road (OBOR) summit here on Monday, which will please New Delhi, Washington and Tokyo, Sri Lankan Prime Minister, Ranil Wickremesinghe, urged participating countries to ensure peace and rule-based freedom of navigation in the Indian Ocean. The speech appeared to be a mild censure […]

Sri Lanka wants FTA with Singapore finalized before July

Sri Lanka wants FTA with Singapore finalized before July

Colombo, May 9 – Sri Lanka wants the scheduled free trade agreement with Singapore to be finalized before July this year, the BOI said quoting International Trade Minister Malik Samarawickrama. The Board of Investment said another FTA with China is expected by the end of this year. “Minister spoke of the Government’s interest to develop […]

SriLankan Airlines posts Rs. 6.5bn loss for 2016/17

SriLankan Airlines posts Rs. 6.5bn loss for 2016/17

Colombo, May 5 – State-run SriLankan Airlines has released data of some of the losses it made during 2016 saying 6.49 billion rupees before interest costs and one-off charges, up from 2.9 billion rupees a year earlier, despite falling oil prices. It is not clear why full losses had not been released and why loss […]

Sri Lanka’s business community calls on govt to look beyond GSP plus

Sri Lanka’s business community calls on govt to look beyond GSP plus

Colombo, May 3 (NIA) – Sri Lanka’s largest business community, the Ceylon Chamber of Commerce (CCC) on Wednesday called upon the government to address labour shortages and fast-track approvals and certifications to support sectors capable of expanding their exports to the EU. Following the recent EU parliament’s decision to vote in favour of granting Sri Lanka the GSP plus scheme, […]

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