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UAE to promote Sri Lanka’s trade, investment, and economic cooperation

Sri Lanka has been enjoying friendly relations with the UAE in all spheres including trade, investment, tourism and economic cooperation and that the total turnover in bilateral trade between the countries has now crossed US$2 billion.

Sri Lanka eyes African continent for business expansion

Srilanka is to explore business opportunities in African countries, studying carefully and entering cautiously into the African continent with a total population of 1.3 billion and a combined GDP of over USD 2.6 trillion, beneficial for foreign policy makers and businessmen.

SL Finance Ministry takes over US$1 bn debt of SriLankan Airlines

Sri Lanka’s Ministry of Finance, or Treasury, will likely take over the USD1 billion debt that SriLankan Airlines (UL, Colombo International) owed, and the government will soon start looking for an investor for the troubled carrier, according to Sujeewa Rajapakse, chairman of the state-owned commercial bank the People’s Bank.

Mattala International Airport (MRIA) gains momentum with 11,926 tourist arrivals

The loss-making Mattala Rajapaksa International Airport (MRIA) facilitated 11,926 international tourists in February 2023 gaining air traffic momentum with the revival of tourism this year, Airport and Aviation Services (Private) Limited of Sri Lanka (AASL) announced.

Sampath Bank and CIC Holdings join hands to empower rural agri-entrepreneurs

Local private banks are now introducing innovative financial solutions for rural agricultural and industrial business sectors for the benefit of villagers.

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President Orders Faster Development of Katunayake Airport and Domestic Airports

President Anura Kumara Dissanayake has directed officials to accelerate ongoing projects to increase passenger-handling capacity and improve facilities at Katunayake International Airport, while also advancing the development of domestic airports across the country to meet future aviation demands. The directive was issued during a discussion on the 2027 Budget proposals for the Ministry of Ports and Civil Aviation held at the Presidential Secretariat. During the meeting, the President reviewed the progress of development projects at Katunayake Airport and stressed the importance of completing them without delay. He also highlighted the need to expand supporting infrastructure, including road networks surrounding the airport, to improve accessibility and accommodate growing passenger traffic. Improving convenience and facilities for air travellers at both Katunayake International Airport and regional airports was another key focus of the discussion. The meeting was attended by Minister of Ports and Civil Aviation and Minister of Energy Anura Karunathilaka, Minister of Labour and Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando, and Deputy Minister of Ports and Civil Aviation Janith Ruwan Kodituwakku. Other participants included Chief of Staff to the President Prabath Chandrakeerthi, Senior Additional Secretary to the President and Secretary to the Ministry of Energy Russell Aponso, Secretary to the Ministry of Finance, Planning and Economic Development Dr. Harshana Suriyapperuma, and Secretary to the Ministry of Ports and Civil Aviation W. W. S. Mangala. Deputy Secretary to the Treasury A. K. Seneviratne, Director General of the Department of National Budget Jude Nilukshan, and other officials from the relevant institutions and the Ministry of Finance also attended the discussion.
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