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Economy


Biggest ever Chinese loan for highway development

Sri Lanka signed an agreement today (Friday) with the EXIM Bank of China for a loan of US$ 989 million to fund part of the country’s highway system the Finance Ministry said in a press release.


Artificial Rain falls over Moussekelle in first ever test

For the first time in history artificial rain was tested in Sri Lanka with moderate rainfall experienced over Maussakele Reservoir for 45 minutes.


Local dairy manufacturers unable to meet demand during milk powder shortage.

Local Milk producers are claiming that their products are flying off the shelves as there is a shortage of imported dairy products.


Power cuts are now official

The government has dropped its mask on the power cuts and are saying they are now official.


Power cuts persist despite promises

Reports of power cuts emerge despite assurances to the contrary.


“Gamperaliya” gets more cash in election year

In this election year the Government has allocated a huge chunk of cash for its Rural Development program "Gamperaliya."


“Not an election budget but a sensitive one,” says Mangala

Finance Minister says new Luxury Tax (LT) will be charged for vehicles registered after 6th March.


Ignorance and corruption bedevils state enterprises

Rampant corruption, mismanagement and ignorance is ruining State Owned Enterprises says the Advocata Institute


Corruption and patronage culture rampant

Successive Sri Lankan governments have pumped a colossal Rs.1,150 billion into the upkeep of these SOEs up to 2017.


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