Sri Lanka Financial News

Garuda Aerospace has signed an initial pact with agri-tech solutions provider CYOL to launch its operations in Sri Lanka, a statement said on Tuesday. This agreement marks a major milestone in both companies' growth as they expand their operations into Australia, Africa, and Asia, Garuda Aerospace said in the statement. Garuda Aerospace will collaborate with CYOL to deliver solutions for farming and technology integration, the statement said. As part of this partnership, Garuda Aerospace has officially launched its operations in Sri Lanka, further solidifying its presence in South Asia, it stated. Garuda Aerospace offers its drone solutions for various areas such as agriculture, surveillance, mapping, thermography, videography, and defence anti-drone systems,

Pralhad Joshi on Monday said India has been re-elected as the President of Indian Solar Alliance (ISA) from 2024 to 2026. Addressing the press conference at 7th General Assembly of the ISA, Joshi informed that France has been reelected as Vice-President of the ISA. India's election to the President post is a testament to the impactful work the country, under the leadership of Prime Minister Narendra Modi, has been doing over the years for the global good in advancing solar energy adoption across the globe and boosting investment in essential solar projects, including mini-grids and healthcare solutions, Joshi opined. Eight Vice Presidents of the Standing Committee, two from each of the four ISA geographical regions, were also selected by the Assembly.

Gautam Gambhir under immense pressure barely three months into his appointment as the head coach of the Indian team. He was appointed to the top post amid much fanfare and was also given a rare seat at the selection committee meeting for the tour of Australia. However, his initial report card clearly suggests things aren't looking good for the former India opener. Unless there is a remarkable turnaround Down Under, Gambhir, who was given a free hand in selection matters, may not have as much say in issues concerning the team in the coming times. Right after Gambhir took over the reins, India lost an ODI series to Sri Lanka for the first time in 27 years, and then New Zealand completed a 3-0 whitewash of his side in Tests at home on Sunday, something the team never experienced in its long cricketing journey.

India now finds itself in a difficult situation to qualify for the World Test Championship final for the 2023-25 cycle after the 0-3 whitewash at home against New Zealand. This loss marks India's first home Test series defeat since 2012. New Zealand created multiple records with the series win. This Test series win is the first for New Zealand in India since their tours began in 1955-56. Kiwis also became the only team to secure a 3-0 series win in India. Before the New Zealand series, India led the WTC standings with a percentage (PCT) of 68.06. However, after losing the first two matches, India's PCT dropped to 62.82, while Australia follows closely at 62.50 and Sri Lanka at 55.56.

Subscribe to enjoy similar stories. Muddled captaincy, wrong decisions, faulty selection, decline of stalwarts—it was a perfect storm that flattened India at home after a 12-year winning run. India’s Test series loss to New Zealand, going 2-0 down in Pune on 26 October, came after 18 consecutive home series wins.

Gautam Adani is exploring investment opportunities in Bhutan's Gelephu Mindfulness City, a new urban project aimed at transforming the southern region of the Himalayan kingdom into a thriving economic hub. Gelephu Governor Lotay Tshering told Bloomberg, Bhutan is engaging with the Adani Group, led by Asia's second-richest individual, to develop solar and hydroelectric plants within this ambitious 1,000-square-kilometer township near the Indian border. Bhutan’s investment initiative underscores its long-standing alliance with India, which views Bhutan’s growth as strategic for countering China’s influence in the region. This partnership offers Adani Group a chance to bolster its green energy portfolio, aligning with its existing international projects across Israel, Kenya, Sri Lanka, Bangladesh, and Vietnam. Governor Tshering, who served as Bhutan’s Prime Minister until 2023, revealed that hundreds of sites have been identified for renewable energy projects in the Gelephu area. With an estimated capacity addition of 20 gigawatts, the project aims to establish a sustainable energy network. This includes planned contracts for constructing roads, bridges, and facilities that could attract investors from across Asia.

The owner and manager of the cargo ship that caused the Baltimore bridge collapse have agreed to pay more than $100 million to settle a lawsuit brought by the Justice Department

Ravichandran Ashwin surpassed Australia's Nathan Lyon to become the seventh highest wicket taker in Test cricket during the first innings of the second Test against New Zealand at Pune. Ashwin got his 531st Test wicket when he dismissed Devon Conway for his third wicket in the innings. The Tamil Nadu bowler has the second highest wickets for India, only behind Anil Kumble's 619 scalps. Playing in his 104th Test, Ashwin has a bowling average of 23.74 and a strike rate of 50.38. He has the joint second most five-wicket hauls at 37, sharing the record with Australian great Shane Warne. Sri Lankan legend Muthaih Muralitharan leads the list with 67. Additionally Ashwin has scored 3438 Test runs at an average of 26.45, including six centuries.

Nathan Lyon to go seventh on the all-time Test-wicket takers list when he dismissed Devon Conway to grab his third wicket on Day 1 of second Test in Pune. The two off-spinners will go head-to-head when India visits Australia for a five-match Test series in November. Conway was Ashwin's 531st Test wicket. the Tamil Nadu bowler has the second highest wickets for India, only behind Anil Kumble's 619 scalps.

Israel's national security council on Wednesday called on Israelis to immediately leave some tourist areas in southern Sri Lanka over the threat of a possible terrorist attack. The agency said the warning pertained to the area of Arugam Bay and beaches in the south and west of Sri Lanka, and stemmed from «current information about a terrorist threat focused on tourist areas and beaches». The security council did not specify the exact nature of the threat and called on Israelis in the rest of Sri Lanka to be cautious and refrain from holding large gatherings in public areas.

Rishabh Pant on Wednesday overtook his superstar India teammate Virat Kohli to reach the sixth spot in the ICC Test rankings for batters. Fresh from a counter-attacking 99 in the second innings of the opening Test against New Zealand, Pant gained three spots in the rankings while Kohli, who made a fluent 70 in Bengaluru, dropped a place to be eighth. Opener Yashasvi Jaiswal remains India's highest ranked batter at four. India captain Rohit Sharma dropped two places to be joint 15th alongside Sri Lanka's Dimuth Karunaratne. England star Joe Root maintains a healthy lead at the top of the charts.

sovereign defaults has finally crested, with the likes of Ghana, Sri Lanka and Zambia concluding years of painful debt reworks. But the International Monetary Fund and others worry that a dangerous liquidity shortfall could take its place in many emerging economies — setting back development, stunting climate change mitigation and fuelling distrust in governments and Western institutions. The issue, and what to do about it when western countries are increasingly loath to send money overseas, is a key topic at the IMF World Bank autumn meetings taking place in Washington, D.C. this week.

New Zealand's impressive triumph over India in the first Test in Bengaluru has had significant ramifications on the race to qualify for next year's ICC World Test Championship (WTC) 2023-25 final. The Black Caps chased down their victory target of 107 with relative ease on Sunday, with the win propelling them from sixth to fourth in the updated standings, with a win-loss percentage of 44.44%, according to the ICC. While India remain at the top of the standings, the loss has somewhat weakened their hold on a place in next year's final, as their percentage drops to 68.06% ahead of two more Tests against New Zealand and a five-match series with Australia at the end of the year.

New Zealand on Sunday registered a historic Test win in India after 36 years as the beat the hosts by eight wickets in the first Test at Bengaluru in a rain curtailed match. Chasing a modest total of 107 to win, New Zealand started the day on a bad note, losing a wicket of the second ball. However, Will Young battled a stunning spell of fast bowling from Jasprit Bumrah and Mohammed Siraj to reamain unbeaten on 48. Rachin Ravindra followed up his first innings century with 39 not out off just 46 balls.

exports of personal computers including laptops have emerged as a key electronic item shipments from India during April-August this fiscal, according to the commerce ministry data. The exports of personal computers have recorded healthy growth in five destinations- the UAE, Russia, Bangladesh, the US, and Sri Lanka. The exports of laptops to the top five markets — increased to $102.6 million in April-August from just $37 million in the same period of the previous year, the data showed. The government's support to personal computer manufacturing through Production Linked Incentive (PLI) and other measures like ease of doing business have supported this growth.

Sachin Tendulkar is set to return to the sport — both as an investor and a player — with the launch of the International Masters League (IML), a T20 franchise tournament featuring retired international players.

Subscribe to enjoy similar stories. Mumbai: The International Masters League (IML), a new T20 cricket tournament featuring legendary players from six nations, is set to begin on 17 November. Icons like Sachin Tendulkar, Brian Lara, and Kumar Sangakkara will lead teams in this nostalgia-fuelled competition, which aims to blend cricketing heritage with the fast-paced excitement of the T20 format.

Jayasuriya was appointed Sri Lanka cricket head coach on Monday, replacing Chris Silverwood who quit following the country's early exit from the T20 World Cup. Jayasuriya, 55, had been in interim charge since June and on Monday was appointed full-time coach until March 2026 after recent successes, which included a Test match win in England and a home 2-0 Test series sweep against New Zealand. «The Executive Committee of Sri Lanka Cricket made this decision, taking into consideration the team's good performances in the recent tours against India, England, and New Zealand,» Sri Lanka's cricket board said in a statement.

India Women registered their first win in the ongoing ICC Women's Word Cup on Sunday after beating arch-rival Pakistan by wickets six and seven balls to spare at the Dubai International Cricket Stadium in the United Arab Emirates. Chasing 106 to win, opener Shafali Verma led the charge with a steady 32, while Jemimah Rodrigues scored 23 runs. Captain Harmanpreet Kaur handled a mini-collapse where India lost two wickets in as many balls when the score was at 80. The skipper remained unbeaten on 29, but was retired hurt with just two runs needed to win. Kaur injured her neck after she lost balance attempting to hit the winning runs. Earlier, the bowlers did a great job to restrict Pakistan to 105/8 in 20 overs. Pacer Arundhati Reddy spearheaded India's bowling with 3/19, earning her the Player of the Match award. Off-spinner Shreyanka Patil did not allow the batters to settle and registered figures of 2/12 in four over, including a maiden. Renuka Singh Thakur, Deepti Sharma, and Asha Sobhana picked up a wicket each. For Pakistan, Nida Dar scored a 34-ball 28 after being reduced to 41/4 inside 10 overs. Captain Fatima Sana and Syeda Shah played little cameos to help their team cross the 100-run mark.