Home  » Business



Sri Lanka seeks Indian stake in Colombo port amid Chinese presence

Sri Lanka would like to see an investor from India take a share in a private consortium that will be given a concession to build and operate a container terminal in Colombo port, a minister said, amid a strong Chinese presence already in the port.

Sri Lanka’s John Keells Holdings, Hayleys and Aitken Spence have shown early interest in the building the terminal, along with global shipping lines like Maersk and NYK Lines, Ports Minister Arjuna Ranatunga said.

Minister Ranatunga said Sri Lanka would like to see an Indian investor take at least a 20 percent stake in a consortium that will run the East Terminal of the expanded deep draught South Harbour of Colombo Port.

The South Terminal of the port is already owned and operated by China Merchant Holdings (International).

"We would like to see an Indian investor take at least a 20 percent stake," Ranatunga told members of Sri Lanka’s Foreign Correspondents Association.


LOLC’s strong profits growth in the first quarter on the back of an outstanding 2015/16


LOLC’s dominant financial services sector companies, led the Group to record strong profits in the first three months of 2016/17, a PBT of Rs. 3.2Bn when compared to Rs. 2.7Bn recorded in the same period last year. The current year’s perf...

Union Assurance Relocates Trincomalee Regional Office Offering Better Service to Customers


Union Assurance (UA) relocated its Trincomalee Regional Office on the 19th of August 2016 to provide better services to residents in the area. The new branch will support the company’s pace to reach its goal of having fully operational branches...

SANASA Development Bank Steps into its 19th Year


The SANASA Development Bank a pioneering financial institution founded on supporting the grassroots levels of Sri Lanka just celebrated its 19th anniversary. Sanasa which begun operations in August 1997 as a licensed specialized bank approved by the ...

Wild Elephant partners TNL Onstage Season 16


The new and improved Wild Elephant, from Elephant House, has signed on with the popular TNL Onstage Season 16 music competition as its "Official Beverage Partner".Re-launched recently with a more refined taste, in an iconic, stylish can, ...

CEAT launches four more high-performance tyres for motorcycles


CEAT Kelani Holdings Pvt ltd has announced it has further expanded its portfolio of tyres for motorcycles with the addition of four new sizes, one of which is designed for two models in the ‘superbike’ category.Engineered for high perfo...

President gifts latest Singer X Series laptops to top 12 G.C.E O/L level students


Singer Sri Lanka PLC, the country’s premier consumer durables retailer, has stepped forward to inspire high-achieving students and thereby boost education in the country by providing the latest Singer X Series laptops to top 12 students who ...

Regionalism- does it promote Free Trade?

During the past few decades, there has been a tremendous surge in regionalism throughout the international trading system. Economists however have been promoting world free trade which in theoretical economics enhances the welfare of everybody f...

Commercial Bank declared the ‘Strongest Bank’ in Sri Lanka

The Commercial Bank of Ceylon PLC has been adjudged ‘The Strongest Bank in Sri Lanka in 2016’ following a detailed and transparent scorecard compiled and analysed by The Asian Banker, a leading provider of strategic intelligence on the...

SDB bank opens Tele collection unit at Malabe


SDB bank opens their new Tele collection unit at Malabe on 23rd August 2016 to provide an effective and efficient service to customers, with the participation of Mr. Nimal C. Hapuarachchi, General Manager/Chief Executive Officer of SDB, Mr. Kumar May...

Commercial Bank & DIMO offer special leasing packages for TATA Vehicles

The Commercial Bank of Ceylon and Diesel & Motor Engineering PLC (DIMO) have announced a new partnership to promote the TATA Passenger and Commercial vehicle range.Valid till end October 2016, the new promotion will offer special discounts, fre...

More Articles



Do you like to read online news?
Total : 7378 Votes. Results


animated gif
Processing Request
Please Wait...