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…
Global electricity generation from coal is set to drop by the largest amount on record in 2020
Global coal generation is estimated to fall by 5% in 2020 to 2012 levels, marking the largest annual decrease on record, the International Energy Agency (IEA) estimated in a new…
United States assures support for Sri Lanka in responding to COVID and building its economy despite the withdrawal of the MCC grant
The United States assures support for Sri Lanka in responding to COVID and building its economy, despite the withdrawal of Rs. 89 billion Millennium Challenge Corporation (MCC) grant. ” On December…
IATA to launch its Travel Pass within 1Q2021
The International Air Transport Association (IATA) is on the schedule to release the IATA Travel Pass early in the first quarter of 2021 to help reconnect our world safely. The…
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…
LOLC acquires Hemas’ Serendib Hotel PLC for Rs.792M
Sri Lanka’s Hemas Holdings PLC (HHL) has divested its’ shareholding in Serendib Hotel PLC to LOLC Holdings PLC for Rs 791.7 million. Eden Hotel Lanka PLC, a unit of LOLC…
Sri Lanka plans to resume international flight operations after Christmas
Sri Lanka plans to resume international flight operations from the 26th of December allowing commercial and cargo flights to operate to Island Nation without a restricted schedule, the Civil Aviation…
Blackstone acquires Piramal Glass for $1 billion
The World’s largest alternative equity firm, Blackstone Group Inc, has signed an agreement to acquire Piramal Group’s Piramal Glass including its unit in Sri Lanka for an estimated $1…
Sri Lankan Entrepreneur Shaping Digital Landscape in Bhutan; Opens University, Silicon Valley Equivalent
Sesiri Pathirane is a tech investor and entrepreneur who has been highly instrumental in – with blessings of the Government & cooperation from Private sector investors – revolutionizing the digital…
United States kick-off $20M Project to Support Small Businesses and empower Female Participation in Sri Lanka’s Labor Force
The United States launched a new Rs3.6 billion ($ 19.5 million) initiative to help small businesses and economically empower Sri Lankan women. The Private Sector Development Project, which is funded through…