Sri Lanka offers tax cuts to revive its airport

SRI LANKA’S new government Friday (28) offered tax breaks and subsidised fuel to revive the island’s second international airport built with Chinese loans but which ended up a white elephant. Authorities announced plans to suspend the $60 departure tax for two years and allow airlines free landing and parking after scheduled carriers abandoned Mattala Rajapaksa […]

Sri Lanka’s growth falls to over five year low

SRI LANKA’S economy grew at its slowest pace in more than five years from April to June, government data showed on Wednesday (18), as the Easter Sunday bomb attacks that killed over 250 people hit the island nation’s fastest-growing tourism sector. The economy gained 1.6 per cent in the second quarter of 2019, slowing from […]

Cleveland Bridge to build 250 bridges in Sri Lanka 

CLEVELAND Bridge, a bridge-building and structural engineering company in the UK, has won a construction contract in Sri Lanka. The UK Export Finance (UKEF) will provide £49 million worth of support to help the Darlington-based company build 250 bridges in the South Asian country, bringing rural communities closer. This project has been designed to accelerate […]

Sri Lanka cuts rates as economy struggles after Easter attacks

SRI LANKA’S central bank cut its main lending rate Friday (23) for the second time in three months hoping to lift the economy as its struggles in the wake of the devastating Easter attacks that hit the key tourism sector. The Central Bank of Sri Lanka (CBSL) said the rate at which it lent to […]

Sri Lanka tourism industry starts to recover after Easter attacks

SRI LANKA’S tourism industry, badly hurt by Easter day bombings, is showing signs of gradual recovery, industry executives say, although a national election later this year is likely to weigh on holiday season arrivals. The island nation’s tourism sector, one of the country’s top revenue streams, suffered a massive blow following April 21 Islamist militant […]

Sri Lanka raises stink over waste consignments from Britain

SRI LANKA has ordered the return of 213 containers of waste from Britain after finding, plastic and biological waste including suspected human body parts in the shipments, government officials said on Thursday (25). Sri Lanka is the latest in a string of Asian countries to reject shipments of waste from Western countries after China banned […]

Sri Lanka cuts rates to support economy after Easter bombings

SRI LANKA’S central bank cut its main lending rate today (31) in a bid to revive the island’s economy, which was battered by the Easter suicide bombings that killed 258 people. The Central Bank of Sri Lanka said the rate at which it lent to commercial banks was reduced by 50 basis points to 8.5 […]

Sri Lanka expects 30 per cent drop in tourist arrivals after Easter attacks

SRI LANKA fears its lucrative tourism industry could see arrivals drop up to 30 per cent, with losses of $1.5 billion this year, after deadly Easter attacks, the finance minister said today (26). “Tourism will be the worst affected,” finance minister Mangala Samaraweera told reporters. “We expect a 30 per cent drop in arrivals and […]

Sri Lanka blasts to affect country’s tourism industry

IN THE wake of serial bomb blasts in Sri Lanka on Easter Sunday, several airlines and travel booking firms hae agreed to waive cancellation charges for people scheduled to travel to the island nation imminently. “In light of the recent events in Colombo, we are providing full fee waiver on rescheduling/cancellation for all flights to/from […]

Tea label giants vow probe after Sri Lanka labour abuse expose

PLANTATIONS in Sri Lanka that supply tea stamped slavery-free to top global companies are under investigation by ethical label groups after an expose found illegal wage deductions that have left some workers ill and unable to afford healthcare. An investigation by the Thomson Reuters Foundation found some workers at tea estates certified by Rainforest Alliance […]