THE GAME CHANGER For business and leisure Port City Colombo is an ambitious development project that’s capturing the attention of investors globally. Located in the heart of Colombo, the project promises to transform business and lifestyles in Sri Lanka, by developing a world class master planned business city coupled with state of the art living and residential facilities. The Port City Special Economic Zone is tipped to attract top multinational companies and global businesses looking to set up regional hubs and headquarters. The development is set to act as a gateway for the world to Sri Lanka and South Asia…
Author: LMD International
ECONOMIC STABILITY A SINE QUA NON Reproduced from the March 2023 edition of LMD. The export sector went through its most challenging year in 2022 due to the economic crisis. Towards the latter half of last year, export businesses faced an unprecedented slowdown in orders due to the risk of recession in major markets. In the meantime, central banks around the world have continued to raise policy rates to curb inflationary expectations, which are unfavourable to export manufacturing countries such as Sri Lanka. Mohan Pandithage, the Chairman of and Chief Executive of Hayleys, maintains that “exporters played a significant role…
A handout picture provided by Saudi Arabia on 26 July last year unveils the design for the 500 metre tall parallel structures – known collectively as The Line – in the heart of the Red Sea mega city – Neoum. The futuristic city – sans vehicles, streets and carbon emissions – is set to feature two massive mirror encased skyscrapers that extend over 170 kilometres of desert and mountain terrain. Saudi Arabia’s Crown Prince Mohammed bin Salman announced that the Neom project will ultimately house nine million people.
Japan’s next generation H3 rocket, carrying the advanced optical satellite Daichi 3, left the launchpad at the Tanegashima Space Center in the Kagoshima Prefecture on 7 March. The rocket failed shortly after lift off with the Japan Aerospace Exploration Agency (JAXA) issuing a self-destruct command due to the second stage engine apparently failing. H3 has been proposed as a possible competitor to SpaceX’s Falcon 9.
“I’m not a politician, nor do I come from a political background,” said Roshan Mahanama – the former Sri Lankan cricketer – as he launched into expressing his views on holding politicians responsible and accountable
EU Ambassador to Sri Lanka and the Maldives Denis Chaibi is confident that despite the dire consequences of the economic crisis, Sri Lanka is a strong and resilient country that will eventually bounce back
The Chairman of Jetwing Symphony Hiran Cooray remarked in an interview with LMDtv recently that Sri Lanka’s branding is confusing, and pointed out that the country is referred to as Ceylon or Sri Lanka especially when citing exports such as Ceylon Tea
ESCHEWING RE-GLOBALISATION Samantha Amerasinghe elucidates how re-globalisation can transform trading Reproduced from the April 2023 edition of LMD. Global trade continues to face multiple challenges as inflation and high interest rates, debt distress and geopolitical frictions weigh on many economies. The negative factors continue to outweigh positive trends. An escalation of Russia’s war in Ukraine, and deepening tensions between the US and China, pose significant downside risks to the world economy and international trade. The warning lights are blinking. Softening trade performances across Asia have already signalled an end to the export boom. With major economies facing recession, re-globalisation may…
Having celebrated 50 years of diplomatic relations, Bangladesh and Sri Lanka share friendship, goodwill and neighbourliness, according to Tareq Ariful Islam, the High Commissioner for the People’s Republic of Bangladesh in Sri Lanka