Category: Industry
Hambantota International Port Hits 22-pct Growth in 2024, Bolsters Infrastructure for Future Expansion
Hambantota International Port (HIP) achieved an impressive growth rate of 22% in 2024, matching its performance from the previous year. With its sights set on even higher numbers in 2025, the port is implementing upgrades to its infrastructure, including the introduction of gantry and yard cranes in the container yard. These enhancements are part of […]
Sri Lanka Reports Full-Year Tourist Surge of 38-pct in 2024, December Arrivals up by 18-pct
Foreign tourist arrivals in Sri Lanka increased by 18.18% year-on-year to 248,592 in December 2024, following a 21.6% rise in the previous month, according to data from the Sri Lanka Tourism Development Authority. Among key markets, India (21.3%) remained the top tourist source market, followed by Russia (14.2%), the UK (7.5%), Germany (5.9%), Australia (5.3%), […]
Sri Lanka’s Economy, Hare or Tortoise?
By Jekhan Aruliah I was listening to a very eloquent speaker on YouTube. He commented, as our public speakers often do, that we in Sri Lanka are a blessed nation. Blessed with abundant natural assets, our forests and beaches etc, and copious human talents. And yet this blessed nation is chronically poor and in 2022 […]
Leaf Lanka Takes on Maldivian Investment, Unfolds USD 6M Retreat in Riverstone
Leaf Lanka International (Pvt) Ltd, a company led by the young entrepreneur Hashan Gunathilaka, is set to redefine luxury hospitality in Sri Lanka. The company has recently acquired a 17-acre property in Matale and has embarked on an ambitious $6 million USD project to develop an eco-luxury chalet retreat. This strategic move, backed by Maldivian […]
Sri Lankan Insurers to Tackle Profitability Pressure with Key Shifts: Fitch Ratings
Underwriting profitability for Sri Lankan non-life insurers will gradually improve as they enhance practices and shift focus to more profitable non-motor segments, Fitch Ratings says in a new report. This shift includes adjusting policy pricing, particularly for motor and medical insurance, to better cope with inflation and rising claim costs. Motor insurance profitability faces challenges […]
TRCSL Approves Starlink Satellite Broadband Tariff Plans
The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has officially given the green light to tariff plans for ‘Starlink’ satellite broadband services, which will be deployed through ‘Starlink’ Lanka (Private) Ltd.
SLT-MOBITEL completes historic SEA-ME-WE 6 Submarine Cable landing in Matara
SLT-MOBITEL has successfully landed the SEA-ME-WE 6 (Southeast Asia-Middle East-Western Europe 6) submarine cable in Matara, Sri Lanka on December 29, 2024, achieving a historic breakthrough in Sri Lanka’s telecommunications infrastructure. The cable system will be in commercial operation by mid-2026. The Matara landing was completed in collaboration with Subcom LLC, USA, and under an […]
SLPA Achieves Record-Breaking Container Throughput in 2024 Despite Competition
In 2024, the Sri Lanka Ports Authority (SLPA) terminals achieved a record-breaking throughput of 2.41 million TEUs amidst intense competition. SLPA alone contributed 2,413,012 TEUs, underscoring its crucial role in the port’s performance despite ongoing construction at both terminals. The Port of Colombo, in conjunction with other terminals, also reached a historic milestone with a […]
New perceptions study: Sri Lanka excels in tourist visa accessibility, boosting global tourism appeal
Sri Lanka comes in 33rd globally for ‘easy to get visa’. Colombo climbs six places to come in 57th for ‘leader in science and technology’. Sri Lanka’s capital ranks 74th for ‘accessible and good quality healthcare’. London, New York, and Paris remain world’s top 3-ranked cities across all metrics, as Tokyo and Dubai rise to […]
Sri Lanka CERT Appoints New Chairman: Thilak Pathirage
A new board of directors have been appointed by Secretary to Treasury on the recommendation of his excellency the President Anura Kumara Dissanayake, in his capacity as Minister of Digital Economy. The newly appointed Board, comprising ten members, convened recently, and Mr. Thilak Pathirage, a senior cybersecurity professional was elected as the Chairman. Thilak Pathirage […]
Emirates to introduce additional flights to/from Colombo
Emirates, the world’s largest international airline, will operate an additional scheduled service between Colombo and Dubai, starting from 2 January 2025. The newly-introduced flight, to operate as EK654/655, increases the seat capacity on the route by 30 percent and supports Sri Lanka’s plans to considerably increase tourist arrivals in 2025. The additional service will operate […]
JAAF partners with GTEX to drive textile innovation and competitiveness in Sri Lanka
Sri Lanka took another significant step toward textile circularity with a four-day program under the GTEX Phase II initiative, organized by the International Trade Centre (ITC) and funded by the Swiss State Secretariat for Economic Affairs (SECO). The event, which combined a two-day training-of-trainers session with a workshop on Circular Economy Business Models for the […]