Sri Lanka luxury Yacht cruises becalmed over regulations

Sri Lanka luxury Yacht cruises becalmed over regulations

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...

Sri Lanka looks to foreign parties to help enhance oil refining capacity

Sri Lanka looks to foreign parties to help enhance oil refining capacity

Colombo, September 19 (NIA): Sri Lanka is exploring possibilities of private investment in oil refining and has invited several foreign companies, including Indian companies like Reliance, to come up with proposals, the Minister for Petroleum, Chandima Weerakkody, told the Foreign Correspondents’ Association here on Monday. He said that he will be visiting India soon to meet his Indian counterpart. Officials...

Sri Lanka to construct large marina in Galle

Sri Lanka to construct large marina in Galle

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...

Sri Lanka too prohibits use of Samsung Galaxy Note7 on its flights

Sri Lanka too prohibits use of Samsung Galaxy Note7 on its flights

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...

IMF reviews loan facility extended to Sri Lanka

IMF reviews loan facility extended to Sri Lanka

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 prohibits use of Samsung Galaxy Note7 on its flights

India prohibits use of Samsung Galaxy Note7 on its flights

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...

Sri Lanka’s national airline carrier to face losses due to airport runway closure

Sri Lanka pilots stage union action over faulty alcohol testing

Sept 10 - Pilots of Sri Lanka's national carrier began trade union action Friday to protest alleged irregularities in administering breathalyser tests after a colleague was found drunk before flying out of Frankfurt. The Airline Pilots' Guild said they will not undertake extra flying hours and also not fill in for absent colleagues after the management suspended Airbus captain Sujith...

The hollowness of India’s claim about high growth

The hollowness of India’s claim about high growth

Mihir Sharma/Bloomberg View India’s just-released GDP figures show it’s still the world’s fastest-growing large economy. Over the past decade or so, those numbers have swooped and stuttered -- from the boom years of the mid-2000s, when easy money and roaring demand pushed growth up to nearly double digits, to the hard stop at the time of the 2008 financial crisis, to the dramatic, stimulus-driven...

Sri Lankan Prime Minister questions viability of US concept of a single Indo-Pacific security strategy

Sri Lanka to privatize loss making State Owned Enterprises (SOEs) through stock market

Colombo, September 8 (Daily FT): The Sri Lankan Prime Minister Ranil Wickremesinghe revealed on Wednesday that the Government is planning to privatize loss-making state enterprises through the stock market. “We are unable to continue paying off the debts of the Hambantota Port and the Mattala Airport while all efforts have been taken to keep Sri Lankan Airlines from winding up,”...

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