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Tag Archives: Sri Lanka

China, Sri Lanka jointly develop green BRI projects

“The sediment barriers are just like the Great Wall on the water. This is truly of great wisdom,” a Sri Lankan engineer exclaimed after seeing the sediment barriers built around the Colombo Port City to stop the flying sand enter into the city when the Port City’s land reclamation was …

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Sri Lanka: Trade deficit expands

Sri Lanka’s trade deficit expanded over US $ 10 billion in the year 2018 despite a significant decline in the December trade deficit with a notable deceleration in the import expenditure, the data released by the Central Bank showed. The December imports fell sharply by 15.3 percent year-on-year (YoY) to …

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Sri Lanka to launch new map in March

Sri Lanka will launch a new map by March following changes made to Sri Lanka’s shoreline due to projects such as the Colombo Port City and the Hambantota Port in southern Sri Lanka, the Survey Department said on Wednesday, Feb. 27. P.M.P Udayakantha, Surveyor General from the Sri Lanka Survey …

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Sri Lanka wavers between liberalising shipping or not

Sri Lanka’s government has not yet decided on a budget proposal to liberalise the shipping sector by removing foreign ownership limits on ship agency and freight forwarding businesses, Minister of Ports &Shipping Sagala Ratnayaka said. “Liberalisation is good as it will improve competition but I have to be convinced it …

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Sri Lanka strike left 6K boxes stranded

Sri Lankan customs officers on Tuesday, Feb. 6,  called off a strike that left 6,000 containers stranded at the country’s main port and put pressure on food prices, after the government agreed to reinstate their boss for three months. The strike by thousands of officials began a week ago in …

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Sri Lanka deals with China for port upgrade

Sri Lanka penned two multi-million dollar contracts with Chinese firms for a port upgrade project on Thursday (Nov. 29) in the middle of a political hiatus that has raised doubts over the legitimacy of the government and the legality of the deals. The debt-saddled island has long been a target …

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Sri Lanka’s Sept exports up 4.4%

Sri Lanka’s exports grew 4.4 percent in September 2018 to 1,055 million US dollars from a year ago, exceeding a billion dollars for the fourth straight month, but the trade gap widened as import spending rose faster. The central bank said spending on merchandise imports increased by 6.1percent to 1,768 …

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China-India struggle for investments

Gleaming cranes stretch out on the waterfront in the Sri Lankan capital Colombo as Chinese companies construct a $1.5 billion new commercial district, including hotels, marinas and a motor racing track. They have already built a giant container terminal nearby and a huge port in the south. Now India, the …

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Win-win deal between SL and Bangladesh

Sri Lanka and Bangladesh have finalized the much awaited Coastal Shipping Agreement, and it will be signed shortly, Development Strategies and International Trade Minister Malik Samarawickrama told a recent forum in Colombo. The agreement will allow third party access for Sri Lankan vessels to East Indian ports, he said. “Coastal …

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The results of China’s trap diplomacy

One such African country that is exhibiting all the red flag signals of going Sri Lankan and now Zambian way is Djibouti Beijing’s cumulative loans to Africa since 2000 amounted to $124-billion by 2016, according to figures compiled by the China-Africa Research Initiative (CARI). Djibouti is projected to take on …

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