India’s Adani Group has decided to withdraw its wind power deals with Sri Lanka, the company said in a letter to the island nation’s Board of Investment (BOI), after Colombo’s recently elected government was preparing to renegotiate the project for a lower price.
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Manila-based Asian Development Bank is in talks to finance Sri Lanka with 900 million US dollars in 2025, after providing 808 million in 2024, to help the country emerge from an economic crisis, officials said.
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The country’s vehicle assembly and spare parts manufacturing industry has made significant progress over the past four years, increasing export income by USD 450 million, according to Deputy Minister of Industry and Entrepreneurship Development, Chaturanga Abeysinghe.
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Sri Lankan President Anura Kumara Dissanayake met with Sheikh Abdullah bin Mohammed Al Qasimi, CEO of Master Investment Group and a prominent figure in Ras Al Khaimah, at the Jumeirah Beach Hotel in Dubai.
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Remittances from Sri Lankans working abroad have continued to be strong providing much needed heft for the country’s strengthening external sector and thereby the broader economy.
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The Coconut Cultivation Board has announced plans to reorganize the Kapruka Fund Management Board Societies as part of efforts to expand coconut cultivation across the country.
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Sri Lankan seafarers are in high demand internationally and there should be a proper mechanism for catering to that ever increasing demand, Seraya Shipping Private Limited and Serayav Maritime Service Limited Founder and Managing Director Sujeewa Senaratne said.
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Construction sector continued to expand their activities through December 2024, extending their months-long expansion as reflected by the sector Purchasing Managers’ Index (PMI) for the month.
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Sri Lanka Purchasing Managers’ Index (PMI) for construction stood at 51.4 in December 2024, indicating a continued expansion in construction activities.
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The Sri Lankan government has officially lifted the temporary suspension on vehicle imports, which had been in effect since early 2020, through Gazette Extraordinary Notification No. 2421/44, dated January 31, 2025.
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