Last Updated : GMT 09:40:38
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Sunday 20 July 2025
Last Updated : GMT 09:40:38
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Ravi Karunanayake

Sri Lanka battles labour shortage amid massive building boom

Themuslimchronicle, themuslimchronicleSri Lanka battles labour shortage amid massive building boom263898/1185
Colombo - Arab Today
 Gulf for decades but now contractors at home are desperate for workers as the island nation experiences an unprecedented construction boom. The labour shortage has seen builders offer lavish incentives ranging from cash to vehicles to keep workers from heading overseas, and in some cases, illegally employ foreign tradesmen to man projects. Sri Lanka was left with a massive reconstructionRead more

Sri Lanka says it secures $1.34 bn World Bank loan

Themuslimchronicle, themuslimchronicleSri Lanka says it secures $1.34 bn World Bank loan222770/84
Colombo - AFP
Sri Lanka has secured $1.34 billion in loans from the World Bank to boost the cash-strapped island's economy over the next three years, the finance ministry said on Saturday. The loans would be at concessionary rates and repayments spread out over 15 years, the ministry said in a statement.  "This is a great victory for us and it will helpRead more

Sri Lanka to sell 80% of southern Hambantota port to Chinese firm

Themuslimchronicle, themuslimchronicleSri Lanka to sell 80% of southern Hambantota port to Chinese firm212671/85
Colombo - Arab Today
Sri Lanka will sell to a Chinese company 80 percent of a $1.5-billion port in its south, where China has also been offered an investment zone, in a bid to cut the country’s debt burden, Finance Minister Ravi Karunanayake said. The move follows an offer made by Prime Minister Ranil Wickremesinghe during a visit to China in April, to swapRead more

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