All Stories in Economic

Packer eyes casino business in Sri Lanka

Packer eyes casino business in Sri Lanka

       Australian gambling tycoon James Packer may be lining up a bet on Sri Lanka, scouting the Indian Ocean island for potential investments as he seeks to build a global casino empire. Packer, who owns half of casino operator Crown Ltd, met with …

Dutch Canal ( Hamilton Canal) to be developed as a tourist attraction

Dutch Canal ( Hamilton Canal) to be developed as a tourist attraction

  ▶sinhala– සිංහල ▶english–      Work on the developing of the the 14km of the Hamilton Canal from Hendala to the Negombo Lagoon section is nearing completion with the work being carried at a fast pace by the Sri Lanka Land Reclamation and Development …

Airwaves auctioned for 4G mobile network

Airwaves auctioned for 4G mobile network

    Sri Lanka auctioned a block of airwaves to become the first country in South Asia to roll out a full nationwide mobile fourth-generation (4G) network, a top official said yesterday. Anusha Palpita, director general of the Telecommunications Regulatory Commission, said he allocated the …

HSBC faces money laundering claims in Argentina

HSBC faces money laundering claims in Argentina

  ▶sinhala– සිංහල ▶english–         Banking giant HSBC, which was hit with a US fine for money laundering last year, is facing fresh accusations of illegal activity in Argentina.  Argentina has alleged that the bank used “fake receipts” to facilitate money laundering …

Raj Rajaratnam brother charged with insider trading

Raj Rajaratnam brother charged with insider trading

          Raj Rajaratnam’s younger brother was indicted on charges of conspiring in the insider-trading scheme for which the founder of the Galleon Group hedge fund was convicted nearly two years ago, U.S. prosecutors announced on Thursday. Prosecutors said Rengan Rajaratnam, 42, …

Geopolitics may hurt Bajaj in Lanka

Geopolitics may hurt Bajaj in Lanka

     Bajaj Auto, India’s biggest two-wheeler exporter, risks a decline in exports to Sri Lanka if the island nation hikes import duties yet again. Sri Lanka faces a vote at the United Nations Human Rights Council on March 21 over alleged violation of human …

Sri Lanka one of Asia’s most promising economies

Sri Lanka one of Asia’s most promising economies

   Sri Lanka has become one of Asia’s most promising economies in recent times, yet the potential of it’s gambling sector is only starting to gain recognition amongst international operators looking to expand their presence in Asia. While the big Las Vegas operators struggle to …

HSBC, Citi, Barclays to handle $1 bln Sri Lanka NSB bond sale

HSBC, Citi, Barclays to handle $1 bln Sri Lanka NSB bond sale

      (Reuters)  Citibank and Barclays will be the lead managers for an international bond sale of up to $1 billion for Sri Lanka’s state-owned National Savings Bank (NSB), sources said on Wednesday. One of four sources with knowledge of the deal said the …

Key political risks to watch in Sri Lanka

Key political risks to watch in Sri Lanka

       (Reuters) –  President Mahinda Rajapaksa is under fire from the U.N. Human Rights Council, which last year adopted a United States-sponsored resolution demanding that Sri Lanka ensure government troops who committed war crimes during the final stages of its war against Tamil rebels …

Halal logo withdrawn from local products

Halal logo withdrawn from local products

      Sri Lankan authorities and clergy said today that they had decided to withdraw the Halal logo from food products sold locally as a result of tensions which arose in the country recently over the issue. Addressing a joint media briefing, the All Ceylon …