Stocking up on veggies
Consumers at the new Manning Market at Peliyagoda on Friday stocking up on vegetables ahead of the presidential poll. Pic by Gayan Amarasekara
Smart agriculture boosts paddy farming in Sri Lanka
Sri Lanka’s drive towards agricultural modernisation has brought to the fore children of farmers to be trained to man the smart technology – drones for paddy cultivation. Sons and daughters of farmers have been trained under a public private partnership (PPP) initiative to man the latest technological data driven smart agriculture drones in the process [...]
Sri Lanka repays $600 m to India
Sri Lanka recently repaid US$400 million to India, along with an additional $200 million towards a $2.2 billion debt owed to the Asian Clearing Union (ACU), as part of a phased repayment strategy, Finance Ministry sources said. The Central Bank of Sri Lanka has been repaying the ACU credit and India’s $400 million swap in [...]
Atlas Axillia to go regional, introduce new products
Atlas Axillia Company (Pvt) Ltd after launching a new range of educational toys (EDU Toys) that support early childhood development has firm plans of going regional while introducing new product ranges. Asitha Samaraweera, Managing Director of Atlas Axillia told The Sunday Times Business recently that they are trying to go into the region with these [...]
Travel warning, uncertainty on promos, visas on arrival
The tourism industry is battling on despite a litany of concerns that keeps getting new issues added on as a severe drop in arrivals is evident with the latest setback being the US travel warning against Sri Lanka. Authorities are raising concerns that with the Presidential election and subsequently a possible dissolution of Parliament matters [...]
Government revises import duties
Sri Lanka is gearing up for a series of tax changes aimed at bolstering local trade and industries ahead of the 2025 budget, with a key focus on increasing government revenue. These reforms have been in motion since January 2023, when the country began phasing out para-tariffs on imports. Major shifts include the gradual elimination [...]
Dissecting Sri Lanka’s future
The Sunday Times Business Club (STBC) is hosting an interesting discussion titled “Dissecting Sri Lanka’s future” at the Shangri-La hotel, Colombo on Tuesday September 24 bringing together two experts to discuss the new leadership of the country, the first discussion of its kind after a new president assumes office. Eminent economist Prof. Sirimal Abeyratne and [...]
Visa blues – 2
By midday today (Sunday) it would all be over bar the shouting. I mean … the result of the presidential election. Another issue – apart from the polls – that has drawn the attention of Sri Lankans is the visa crisis which each week shows a level of uncertainty. For this reason, I am compelled [...]
Economic battle at hand
This week, I had an invitation to attend a podcast recording arranged by the Friedrich Naumann Foundation for Freedom in Colombo. The topic was the “economic battle” that Sri Lanka must win after the Presidential Elections. As you understand, I had to prepare this column before the elections, which was scheduled for Saturday the 21st [...]
Sri Lanka reaches agreement on Sovereign Debt Restructuring
The Government of Sri Lanka has made significant strides in its debt restructuring efforts by reaching agreements in principle with key stakeholders, including the Ad Hoc Group of Bondholders (AHGB), the Local Consortium of Sri Lanka (LCSL), and China Development Bank (CDB), the Finance Ministry announced. These agreements are part of Sri Lanka’s strategy to [...]
Moderate earnings from Colombo Port terminals
Two privately operated Colombo port terminals have generated significant revenue over the past eight years, recording gross profits despite rising administrative costs and moderate dividend payments to the Sri Lanka Ports Authority (SLPA). According to a recent Hansard report, the Colombo International Container Terminals Ltd. (CICT) and South Asia Gateway Terminals (Pvt) Ltd. (SAGT) have [...]
SLBFE inundated with unattended complaints
The Sri Lanka Bureau of Foreign Employment is in the news for all the wrong reasons. Almost all stakeholders, including migrant workers, foreign employment agencies, civil society activists etc are complaining that their ‘complaints’ over the years haven’t been addressed by the Sri Lanka Bureau of Foreign Employment (SLBFE). “They take years to reply to [...]
Delays in global shipping lines
While it’s been more than 260 days since the Red Sea crisis commenced, attacks have been continuing although not frequent per latest updates. Currently almost all carriers are passing via Cape of Good Hope to reach the West, of course costs are escalating with additional 12 days to total transit from East to West, and [...]
Sri Lankan planters chart course for sustainable future
The intervention of the Planters’ Association of Ceylon (PA) via the Supreme Court on the festering wage hike for workers in plantations has led to a reasonable solution, it was stated at its 170th Annual General Meeting (AGM) held on September 14 in Colombo. The AGM witnessed the formal handover of leadership from outgoing Chairman, [...]
Sri Lanka’s coffee comeback story
Sri Lanka’s unique geography, favourable climate, and increasing investments are fuelling a resurgence in its coffee industry. With the global speciality coffee market expanding, the country is poised to become a major player. By 2029, Sri Lanka’s coffee market is expected to grow by 10.05 per cent, reaching a market volume of US $106.50 million. [...]