Cash strapped Sri Lanka is to provide special 40-year tax amnesty for Chinese-built Colombo Port city to attract potential investors as it has so far failed to attract major foreign direct investments after the much-hyped since its opening for investors nearly one year ago, a senior treasury official said.
Worker remittances to Sri Lanka recovered in May from April levels, but still stand significantly below what the country received a year ago, Central Bank sources said.
India and Sri Lanka extended the existing S&T cooperation for 3 more years, with focus on new areas like waste-water technologies, biotech, sustainable agriculture,...
