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World Bank classifies Sri Lanka as upper-middle income country under new revision

World Bank classifies Sri Lanka as upper-middle income country under new revision

Sri Lanka has moved up to the upper-middle income category from lower-middle income category under the World Bank’s new country classification by income level. As of July 1, 2019, under the new revision, Sri Lanka’s Gross National Income (GNI) per capita is 4,060 US dollars, up from 3,840…

Growing taste for Sri Lankan tea among Chinese youth triggers export boom

Growing taste for Sri Lankan tea among Chinese youth triggers export boom

Chinese youth are acquiring a taste for Sri Lanka’s black tea, with shipments to China, mainly a green tea market, growing strongly this year, Sri Lanka Tea Board Chairman Lucille Wijewardena said. “From nothing about three to five years ago, last year they bought 10 million plus kilos…

Japanese investor reiterates his confidence in Sri Lanka

Japanese investor reiterates his confidence in Sri Lanka

A leading Japanese investor – President of Tosslec Co. Ltd, Kyoto, Japan Jitsuo Mikasa – reaffirmed that his company would continue to invest in Sri Lanka without any break or disruption of the company’s customer network. Tosslec Co. Ltd’s subsidiary Tos Lanka Co. (Pvt) Ltd has been in…

Sri Lanka e-commerce use still low, survey finds

Sri Lanka e-commerce use still low, survey finds

Sri Lankan internet users had the highest levels of awareness of e-commerce platforms but actual use, in completing…

Scientists develop salt tolerant rice variety

Scientists develop salt tolerant rice variety

A group of Indian scientists has developed a new salt-tolerant transgenic rice plant by over-expressing a gene from…

SriLankan Airlines formulates new 5-year Strategic Business Plan

SriLankan Airlines formulates new 5-year Strategic Business Plan

SriLankan Airlines has formulated a new five-year Strategic Business Plan for the period 2019-24 with the objective of…

SL’s economic growth to pick up in 2019

SL’s economic growth to pick up in 2019

Sri Lanka’s current account deficit will drop to 2.5% of GDP in 2019 with the recovery in agriculture…

Largest oil field production asset calls Sri Lanka

Largest oil field production asset calls Sri Lanka

Hayleys Energy Services (HES), yesterday ushered in the first floating production storage and offloading (FPSO) asset to ever…

Modernizing Sri Lanka’s bamboo industry could reduce poverty, protect environment

Modernizing Sri Lanka’s bamboo industry could reduce poverty, protect environment

Sri Lankan farmers could cultivate bamboo to diversify and enhance their income sources if the industry is modernized,…

Oman’s Oil and Gas Minister arrives in Lanka to attend ceremony of oil refinery in Hambantota

Oman’s Oil and Gas Minister arrives in Lanka to attend ceremony of oil refinery in Hambantota

Dr Mohammed Hamad Al Ruhmy, Minister of Oil & Gas of the Sultanate of Oman was received by…

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