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Indian mission in Sri Lanka denies Trincomalee oil tanks deal off

The Indian High Commission in Colombo has rejected Sri Lankan energy minister’s claim that the deal between the two countries on the 99 World War II-era Trincomalee oil tanks leased…

Bandwagoning with China: Geopolitics of a container terminal in Sri Lanka

By Asanga Abeyagoonasekera It is rather unusual for trade union leaders to speak geopolitics. “Geopolitics should not be a determinant factor for us to lease our own East Container Terminal…

Sri Lanka’s food and beverage imports grow by 9 percent in 2020

Sri Lanka’s food and beverage imports grew by nearly 9 percent topping $1.5 billion last year (2020) compared to 2019 despite import restrictions, according to the Central Bank (CB). The…

Sri Lanka halts port deal with India and Japan

Sri Lanka on Tuesday scrapped a deal to develop a major port terminal with India and Japan amid weeks-long protests by trade unions and opposition parties while India called on…

USPTO announces relief for delays in filing certified copies of foreign priority applications due to the COVID-19 outbreak

The United States Patent and Trademark Office (USPTO) recognizes that the COVID-19 outbreak has imposed significant hardships on many of our stakeholders. In particular, some foreign intellectual property (IP) offices…

Rupee to depreciate by 12% in 2021- First Capital

Sri Lanka’s First Capital Research expects LKR to depreciate approximately by 12 percent during this year. “With the weak foreign currency reserve position, high foreign currency debt repayment and a…

Sri Lanka – Korea Business Councill urges Tourism Authorities to target high spending South Korean Tourists

Sri Lanka – Korea Business Council (SLKBC) urges the Tourism Promotion Bureau to target South Korea’s outbound tourism market to attract high-spending tourists to the country. “The Per Capita income…

EU Urges Sri Lanka to Notify Imposed Import Restrictions Measures to WTO

The Europan Union (EU) has urged Sri Lanka to notify import restrictions measures imposed since April 2020 to the World Trade Organisation (WTO), while stressing the need for a level…

Central Bank Bars Banks from entering into new forward FOREX contracts

Sri Lanka’s Central Bank (CB) yesterday barred banks from entering into new forward foreign exchange contracts for three months with immediate effect to contain excess volatility in the foreign exchange…

Sri Lanka emerging as a small, yet growing market for U.S consumer food products in South Asia

Sri Lanka which has the highest per-capita GDP in South Asia has emerged as a small, yet growing, consumer food products market for the exporters of the United States, according…