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Sri Lanka keen to establish strong mutual trade ties with Pakistan

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SIALKOT: The High Commissioner of Sri Lanka in Pakistan Maj-Gen (R) Jayanth Lakuketagodage has said that Sri Lanka was much keen to establish strong mutual trade ties with Pakistan. He stressed upon the need of making some effective practical measures to boost mutual trade ties between Sri Lanka and Pakistan, saying that the Sri Lanka was much keen to further ... Read More »

Sri Lanka, S Korea to sign economic cooperation deal next month

Germany-Switzerland sign arbitration agreement for tax disputes

COLOMBO: Sri Lanka will sign an economic cooperation agreement with South Korea during the state visit of President Maithripala Sirisena, which is scheduled for next month, the government said. The economic cooperation agreement will cover the fields of investment partnership, trade relations, tourism promotion, and industrial cooperation. The Cabinet, this week, approved a proposal made by Development Strategies and International ... Read More »

Sri Lanka, Pakistan target US$ 1 bln trade by 2018

bilateral trade

COLOMBO: In order to invigorate efforts to reach the target of US $ 1 billion trade by 2018, Sri Lanka and Pakistan have agreed to redouble trade promotion efforts during the fifth Sri Lanka-Pakistan Foreign Office Consultations held on Tuesday in Colombo, after a lapse of three years. In this regard, the 2nd edition of the Pakistan Single Country Exhibition ... Read More »

Sri Lanka, Finland to ink digitalization deal

Switzerland, Italy inks accord to exchange tax data

COLOMBO: Sri Lanka and Finland expects to sign a memorandum of understanding on digitalization, Economic Minister Mika Lintila had said during an official visit of Prime Minister Ranil Wickremesinghe. Prime Minister Wickremesinghe’s visit had laid a strong foundation for closer relations between the two countries, he had said, during a banquet held in Helsinki to welcome a delegation from Sri ... Read More »

Sri Lanka, China sign long-delayed $1.5 billion port deal

Germany-Switzerland sign arbitration agreement for tax disputes

COLOMBO: Sri Lanka’s government on Saturday signed a long-delayed agreement to sell a 70 percent stake in a $1.5 billion port to China in a bid to recover from the heavy burden of repaying a Chinese loan obtained to build the facility. The agreement comes after a nearly six-month delay since the signing of the framework deal, which immediately drew ... Read More »

Sri Lanka, Bangladesh agree on Free Trade

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COLOMBO: Sri Lanka and Bangladesh have agreed to finalise a Free Trade Agreement between them by the end of this year. The matter came up for discussion during bilateral discussions when President Maithripala Sirisena visited Dhaka last week. As the first step, a Memorandum of Understanding on Economic Partnership was signed between the two countries. The MoU “should pave way ... Read More »

Sri Lanka, Pakistan should utilize the full potential of FTA

FTA

COLOMBO: Pakistan’s Prime Minister Nawaz Sharif has said that Pakistan and Sri Lanka can collaborate to achieve the objectives of the South Asian Association for Regional Cooperation (SAARC). Prime Minister Sharif made this remark when President Pakistan-Sri Lanka Friendship Trade & Investment Association Iftikhar Aziz, called on the Prime Minister at PM House in Islamabad on Friday. While recalling a ... Read More »

Sri Lanka, Bangladesh FTA on the cards

fta

DHAKA: Sri Lanka and Bangladesh are considering to inking a free trade agreement between the two countries. Attention was drawn towards this initiative during a meeting held between Finance Minister Ravi Karunanayake and Bangladesh High Commissioner Riaz Hamidullah at the Finance Ministry on Friday. The discussion was centered on the benefits to be tapped by both countries from such an ... Read More »

Sri Lanka, Pakistan to include services in trade pact

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COLOMBO: Sri Lanka and Pakistan have agreed to include services in a bilateral free trade agreement (FTA), Pakistani Prime Minister Nawaz Sharif said. India has been in discussion with Sri Lanka to liberalise the service sector under a trade pact for a Comprehensive Economic Partnership Agreement (CEPA) since early 2000. But Sri Lankan entrepreneurs have strongly opposed such an agreement ... Read More »

20,000-year-old fossilized human teeth discovered in Sri Lanka

teeth

COLOMBO: People adapted to living in tropical rainforests thousands of years earlier than previously known, according to an analysis of 20,000-year-old fossilised human teeth discovered in Sri Lanka. The researchers from Oxford University, working with a team from Sri Lanka and the University of Bradford, analysed the carbon and oxygen isotopes in the teeth of 26 individuals, with the oldest ... Read More »

20,000-year-old fossilized human teeth discovered in Sri Lanka

index

COLOMBO: People adapted to living in tropical rainforests thousands of years earlier than previously known, according to an analysis of 20,000-year-old fossilised human teeth discovered in Sri Lanka. The researchers said there has been a debate over when our species first began living in rainforests, with some experts arguing such habitats may have been too daunting for early human hunter-gathers. ... Read More »

Sri Lanka approves $1.5 billion China funded port project to avoid ‘misunderstanding’ with Beijing

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COLOMBO: Sri Lanka’s new government will go ahead with $1.5 billion China’s funded port city project planned by the previous president to avoid misunderstandings with Beijing. Xi Jinping, China’s President officially launched the city’s development on an artificial island during a visit to Sri Lanka last September. The new government of President Maithripala Sirisena has said it wants to review all projects ... Read More »

Checking black money transactions: India offers Sri Lanka to set up snoop units

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COLOMBO: India has proposed Sri Lanka and other six overseas intelligence units to setup snoop units to have a regular check and balance over the black money and fraudulent transactions. Two such snoop units have been proposed at Beijing and Guangzhou because of the exponential growth of trade between India and China and the intelligence supported by cases of undervaluation ... Read More »

Sri Lanka stands first in many economic indexes in South Asia

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COLOMBO: Ajith Nivard Kabraal, Governor of the Central Bank of Sri Lanka said that Sri Lanka has been successful in securing the first place in many economic indexes in South Asia. Sri Lanka has also been successful in taking the forefront in the indexes on economic freedom, prosperity, legal dominance and human development. He has disclosed this fact at a ... Read More »

Sri Lanka launches railway track to link Jaffna with Colombo

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COLOMBO: Sri Lanka inaugurated the newly built railway track between Jaffna and Kankasanthurai covering distance of 18 kilometers, which established a direct train link with Colombo. This track corridor has two crossing stations at Kondavil and Chunnakam and five halt stations at Kokuvil, Inuvil, Mallakam, Tellipalai and Mavittapuram. Sections between Omanthai to Jaffna (129 km) and Medawachchiya – Thiruketheeswaram (69km) ... Read More »

Central Bank of Sri Lanka says progress made on banks financial sector consolidation

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COLOMBO: Central Bank of Sri Lanka says further progress was made by Merchant Bank of Sri Lanka Public Limited Company, DFCC Bank finance and leasing companies on the financial sector consolidation process. The Central Bank said Amalgamation of the Merchant Bank of Sri Lanka Public Limited Company (PLC), MCSL Financial Services Limited and MBSL Savings Bank Limited reached the final ... Read More »

Sri Lanka, UAE join hands on customs technical cooperation

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COLOMBO: Sri Lanka Customs joind hands with UAF Federal Customs Authority to initiate the operations of customs technical cooperation. In its plan to enhance ties with foreign partners, the FCA relies on the location of the UAE as a global trade hub having strong trade relationships with most of the world’s countries. In this field, the customs regulator is keen ... Read More »

Sri Lanka secures 89th place in Best Forbes business countries

Srilanka

COLOMBO: Sri Lanka has been placed at 89th rank in the list of best Forbes business countries while the best country for business this year is Denmark, which ranked No. 1 three straight years between 2008 and 2010. The top10 includes also Hong Kong, New Zealand, Ireland, Sweden, Canada, Norway, Singapore and Switzerland. Sri Lanka ranked 124 on Tax Burden ... Read More »

Sri Lanka secures 89th place in Best Forbes business countries

Srilanka

COLOMBO: Sri Lanka has been placed at 89th rank in the list of best Forbes business countries while the best country for business this year is Denmark, which ranked No. 1 three straight years between 2008 and 2010. The top10 includes also Hong Kong, New Zealand, Ireland, Sweden, Canada, Norway, Singapore and Switzerland. Sri Lanka ranked 124 on Tax Burden ... Read More »

Sri Lanka, Korea join hands to establish $50m credit line to facilitate trade

Sri Lanka, South korea

COLOMBO: Sri Lanka and Korea signed an agreement to facilitate their importers and exporters by setting up a revolving credit line of %50 million. This agreement was signed between Sri Lanka’s Hatton National Bank (HNB), and The Export-Import Bank of Korea’ (KEXIM). Jonathan Alles, Managing Director of HNB said that with foreign trade between Sri Lanka and Korea growing significantly, ... Read More »