Sri Lanka’s border security is receiving a significant upgrade thanks to a generous grant from the Japanese government. A package valued at USD 8.4 million includes a variety of high-tech scanners destined for Katunayake International Airport and the Colombo Port. The primary focus of these scanners is public health. Disease-detecting equipment will be used to
Sri Lanka finds itself at a crossroads brimming with economic potential. The strengthening ties with India, coupled with a surge in Indian investor interest across various sectors, presents a unique opportunity for the island nation to attract foreign direct investments (FDIs) and achieve significant economic gains. Sri Lanka India Society President Kishore Reddy emphasizes the
Sri Lanka is looking to strengthen its trade ties with Italy, its top trading partner within the European Union. Recognizing this strategic importance, the National Chamber of Commerce of Sri Lanka (NCCSL) recently hosted a session to explore bilateral trade opportunities. Sri Lankan Ambassador to Italy, Jagath Wellawatte, highlighted the under-participation of Sri Lankan businesses
Mumbai has dethroned Beijing as Asia’s billionaire capital, according to the 2024 Hurun Research Global Rich List, reported by the Times of India (TOI). India’s financial powerhouse now boasts 92 billionaires, surpassing Beijing’s 91, despite China still holding the overall lead with 814 billionaires compared to India’s 271. Mumbai’s meteoric rise is fueled by a
Canadian-based electronic lifecycle administration company, CIS, has expressed interest in exploring investment opportunities in Sri Lanka. The company, led by Sri Lankan entrepreneur Stan Muthulingam, specializes in IT resource and asset disposal services. Muthulingam recently hosted Dilum Amunugama, Sri Lanka’s State Minister, at CIS’s Toronto office. The visit aimed to showcase CIS’s operations and explore
Sri Lanka and India are poised to strengthen their economic and trade partnership through a new Economic and Technology Cooperation Agreement (ETCA) and a Bilateral Investment Treaty, according to Indian High Commissioner to Sri Lanka Shri Santosh Jha. This move comes on the heels of a successful Free Trade Agreement (FTA) established in 2000. Highlighting
The Government of Japan has recently responded to a request from the Government of Sri Lanka by offering grant assistance amounting to Japanese Yen one thousand and six hundred million (approximately Rs 3.3 billion). This aid falls under the Japanese Economic and Social Development Programme and is allocated to address the diverse needs across several
Asia Securities, a Sri Lankan investment firm, views the voluntary exit offer made to minority shareholders of Expolanka Holdings Plc (EXPO) as a positive development. In a recent report on the logistics sector, Asia Securities analyzed the offer in the context of a normalizing freight market post-pandemic. EXPO’s share price surged in 2021 and 2022,
Sri Lankan design, technology, and marketing firm Surge Global has secured a major win in the Qatari market through a strategic partnership with Gulf Business Machines (GBM) Qatar. This collaboration not only marks a significant milestone for Surge Global but also positions them as a key player in delivering cutting-edge digital transformation solutions across the
Kristalina Georgieva, the head of the International Monetary Fund (IMF), is set to run for a second five-year term. This news follows nominations from Bulgaria, her home country, and a string of European nations. Georgieva, a Bulgarian economist known for advocating climate-conscious policies, has garnered significant support. France, through its finance minister Bruno Le Maire,