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Hong-Kong based Alta Hospitality Asia fund eyes a prime real-estate in Galle

The newly launched Alta Hospitality Asia fund of Hong-Kong-based Alta Capital Real Estate eyes a prime real-estate in Galle to develop a premier wellness retreat with comprehensive facilities and luxury…

Mike Pompeo arrives in Colombo as U.S seeks to balance China’s growing influence in the region

The United States (U.S.) Secretary of State, Mike Pompeo yesterday arrived in Sri Lanka for a two-day visit during which he would hold talks with the top Lankan leadership, as…

ICICI Bank exits Sri Lanka

India-based ICICI  bank has shut down its offshore unit in Sri Lanka after securing approval from the country’s Central Bank (CB) last week. “The Monetary Board of the Central Bank…

Sri Lankan to ban several single-use plastic products from 2021

The government decided to ban a range single-use plastic and polythene waste material products including Poly Ethylene Terephthalate (PET) and Vinyl Chloride (PVC) containers from with effect from 2021. The…

Dairy industry seeks clear access to land and water for forage crops

The All Island Dairy Association (AIDA) urges the government to remove restrictions on land and water utilization for forage crops to increase the quantity and quality of milk production. All…

Sri Lanka allows importation of special bamboo sticks for incense stick production with tax relief

Sri Lanka’s Cabinet of Ministers decided to allow importation of special bamboo sticks for incense stick production with tax relief citing shortages in sourcing these bamboo sticks locally. The proposal…