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Second phase of GRI’s $100M Tyre Project to Be Commissioned in December

Global Rubber Industries (GRI) last week broke ground and laid the foundation stone for the second phase of a $ 100 million project with a new manufacturing facility in Badalgama,…

Vietnam and Sri Lanka Express Interest to pursue a Preferential Trade Agreement

During a farewell call on Foreign Minister Dinesh Gunawardena this week, the Ambassador of Viet Nam in Colombo, Pham ThiBich Ngoc endorsed that Sri Lanka and Vietnam have immense potential…

Sri Lanka’s President Confirms Adani Group’s Involvement in East Container Terminal

President Gotabaya Rajapaksa today assured representatives of Port Trade Unions that the East Container Terminal (ECT) of the Colombo Port will not be sold or leased. According to him, the…

Sri Lanka and Thailand eye to finalize the Proposed FTA

The Foreign Minister Dinesh Gunawardena and the outgoing Ambassador of Thailand in Sri Lanka Chulamanee Chartsuwan has endorsed the importance of finalizing the Free Trade Agreement to spearhead the bilateral…

President appoints De-Regulation Commission Chaired by Lalith Weeratunga and Krishan Balendra

President Gotabaya Rajapaksa has appointed an 18-member De-Regulation Commission for the Simplification of the Existing Laws and Regulations to spur the growth of the COVID-19 battered economy. The Commission is…

MSC to launch a new direct service from India to West Africa with a call at Port of Colombo

The World’s second-largest shipping line, the Mediterranean Shipping Company(MSC) announced a new direct service, MSC India Africa Service (IAS) from India to West Africa with a call at Port of…

Protectionism To Rise In 2021 States Attempts To Stimulate Domestic Recovery – Economist

Governments in 2021 are likely to ramp up protectionist economic measures in a bid to stimulate domestic recovery from the COVID-19 pandemic despite the interests of the private sector lying elsewhere, Kathmina…

Sri Lanka’s fruit and Vegetable industry enters into MOU with WB’s Agriculture Sector Modernisation Project

The Lanka Fruit and Vegetable Producers, Processors and Exporters Association (LFVPPEA) have entered into a memorandum of understanding (MOU) with the World Bank’s (WB) Agriculture Sector Modernisation Project (ASMP) anticipating…

Sri Lankan Airlines plans to procure two freighters in 2021

Sri Lankan Airlines (UL) plans to call Request for Proposals (RFP) to procure two dedicated freighters shortly. “There’s so much cargo business at the moment. Exports have picked up, so…

Sri Lanka faces worst decline as debt crisis looms

Sri Lanka Tuesday announced its worst economic slump with second-quarter GDP plunging 16.3 percent as international concern grows over its ability to repay foreign debt. The department of Census and…