Sri Lanka and India to jointly establish solar power plants in Trinco
The Cabinet of Ministers has approved the proposal presented by the Minister of Power and Energy to take further necessary steps related to the establishment of two solar power plants with capacity of 50 Megawatt and 70 Megawatt at Sampur in Trincomalee, as a joint venture between Sri Lanka and India.
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Sri Lanka’s manufacturing and services sectors expand in January 2025
Sri Lanka’s Purchasing Managers’ Index (PMI) for January 2025 recorded growth in both manufacturing and services sectors.
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Sri Lanka is on the verge of a major digital transformation as the government accelerates efforts to modernize the economy.
Sri Lanka is on the verge of a major digital transformation as the government accelerates efforts to modernize the economy.
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Sri Lanka Economic sentiment steadies in early 2025”: Survey
In its February edition, business magazine LMD reports that “the optimistic outlook for economic sentiment prevails as confidence strengthens amid positive trends.”
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Poultry industry calls for tax cuts on maize imports to stabilise prices
The poultry industry recently called on the Government to remove or reduce the Rs. 25 per kilo tax on imported maize in the upcoming Budget, warning that failure to do so could lead to a sharp increase in the price of eggs and chicken during the Sinhala-Hindu
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Ruwanpura Expressway construction temporarily suspended, not abandoned – Deputy Minister
Deputy Minister of Transport and Highways, Dr. Prasanna Gunasena, has clarified that reports suggesting the construction work on the Ruwanpura Expressway has been abandoned are entirely false.
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Market activity rises but yields hold their ground
By First Capital Research
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Inflation set to climb this year, expected to peak in mid-2026: CBSL
Inflation could possibly hover around 2 percentage points above inflation target Headline inflation is forecast to converge to targeted 5% level over medium term, supported by implementation of appropriate policy measures Economic growth is expected to continue its rebound over medium term, although at a moderate pace
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India’s Adani “respectfully” withdraws from Sri Lanka wind power deal
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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ADB reaffirms support for Sri Lanka with US$ 900mn for 2025
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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