Business

Colombo, Oct 1 (NIA) - A dredger has arrived in Sri Lanka to start reclaiming 269 hectares of sea off the capital Colombo in order to construct the Colombo Port City project. Sri Lanka's Geological Survery and Mines Bureau has issued a license to start mining sand on September 26, the Chinese investor of the project said. China Harbour Engineering...

Geneva, Sept 28 (NIA) - In a huge leap forward, India has moved up 16 positions to rank 55th on a global index of the world's most competitive economies, where Switzerland remains on top. The jump in India's position underlines the country's recent economic recovery, improvement in the competitiveness of the country's institutions and its macro economic environment and a...

Colombo, Sept 27 (NIA) - Sri Lanka's national airline carrier, Sri Lankan Airlines, will begin direct flights to Lahore, the second largest metropolitan area in Pakistan from Tuesday, enhancing its focus on the Asia and Middle East region, the airline said in a statement. The service will be twice weekly for the first month of operation with flights on Tuesdays...

Colombo, Sept 24 - An endeavor to launch luxury yacht cruises in Sri Lanka has been stalled over a tight shipbuilding requirement, forcing already booked tours to be cancelled and depriving the country of a potential growth industry, its promoters said. TVB Group, a travel group which already run 'liveaboard' luxury yacht cruises in the Red Sea, under Aggressor brand said its Sri...

Sept 19 (NIA) - India, on Monday, gave its nod to commence a 1.4 billion dollar project to construct and upgrade 558 km of roads to link it with Bangladesh, Bhutan and Nepal and ease the movement of passengers and cargo. The project will be a part of India's larger efforts to increase inter-regional trade by 60 per cent. The...

Sept 17 (NIA) - Sri Lanka is to construct a large marina in the southern tourist town of Galle and will soon call for expressions of interest to build it, the government said here on Saturday. Sources said that some international companies had already shown interest in the project and the government would soon start discussions. Galle has gained popularity in the...

Sept 15 (NIA) - Sri Lanka, on Thursday, joined a growing list of countries to ban the Samsung Galaxy Note7 from its flights after several incidents were recorded globally, involving the battery of the Note7. In a notice which appeared at the country's main Bandaranaike International Airport, it said that passengers were prohibited in stowing the phones in their check...

Sept 14 (NIA) - Representatives from the International Monetary Fund (IMF), on Thursday held discussions with Sri Lanka's Minister of Finance, Ravi Karunanayake for a mission review of a 1.5 billion US dollar loan approved for Sri Lanka under the Extended Fund Facility (EFF). The facility has been allocated to support Sri Lanka's economic reform agenda. Jaewoo Lee, IMF Representative...

INDIA, Sept 13 (NIA) - India's Civil Aviation Ministry, on Tuesday, announced that it was pohibiting travelers from using the Samsung Galaxy Note7 on its flights after several incidents were recorded globally, involving the battery of the Note7. The Ministry further advised passengers not to pack or store the phone in their check-in baggages. "The ministry has advised airlines and...