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Sri Lanka

Some operators appear to be shifting from large compounds to hotels, apartment buildings and office space that can be rented quickly and abandoned just as fast.

Global Enterprise

Sri Lanka emerging as a new base for Asia’s scam networks after crackdown in Cambodia

Authorities in the South Asian island nation say they have arrested more than 1,000 people this year alone

The central bank says headline inflation is likely to remain above the target of 5 per cent in the period ahead, before easing and stabilising around it.

Banking & Finance

Sri Lanka jolts markets with outsized 100-bp rate hike to counter Gulf crisis

The Central Bank raised the overnight policy rate to 8.75% from 7.75%

Some 204 members of the Irins Bushehr have been evacuated.

Sri Lanka comes to aid of second Iranian naval vessel

The vessel had faced engine damage

The IRIS Dena, pictured above in 2023, sank 19 nautical miles off Sri Lanka's southern port city of Galle after a US submarine strike.

Sri Lanka trying to safeguard lives on second Iranian ship after US sinks frigate

Two freezers, dispatched from Colombo, will store 87 bodies recovered from the sea

Sources from Sri Lanka's navy and defence ministry say at least 101 people are missing in the incident.

At least 80 killed in US strike on Iranian warship: Sri Lankan minister

Authorities say they have rescued 32 people so far

A home surrounded by flood waters in Kangar in northern Malaysia's Perlis state.

Severe storms kill nearly 1,000 in South-east Asia, Sri Lanka

Indonesia and Sri Lanka are among the worst affected by heavy rainfall, flooding and landslides

A petitioner who brought action against the MV X-Press Pearl, which sank off Colombo Port in June 2021, said he had been officially informed of the payment.

Global Enterprise

Polluting Singapore ship’s agent pays token damages to Sri Lanka

The move comes as the owners of the X-Press Pearl refused to pay the massive damages

X-Press Feeders has operated the MV X-Press Pearl that sank off Colombo Port in June 2021 after a fire, believed to have been caused by a nitric acid leak.

Global Enterprise

Singapore firm rejects US$1 billion Sri Lankan pollution damages

X-Press Feeders CEO Shmuel Yoskovitz believes paying would have wide-ranging implications on global shipping

The US$1.2 billion City of Dreams casino complex in Colombo is South Asia’s first integrated resort.

Sri Lanka rolls the dice on casinos to power post-crisis tourism boom

The push is part of the nation’s aim to raise tourist arrivals by 50% to 3 million this year

Wickremesinghe was taken into custody after being questioned about a September 2023 visit to London to attend a ceremony for his wife at a British university while he was head of state, the officer said.

Sri Lanka ex-president Ranil Wickremesinghe arrested for fund misuse

He is accused of using government money for his travel on a private visit

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