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Final report of Presidential Comm of inquiry on SL Customs, handed over to President
The final report of the Presidential Commission of Inquiry into Sri Lanka Customs was handed over to President Gotabaya Rajapaksa by Chairman of the Commission Supreme Court Judge Shiran Gunaratne at the President’s House, in Colombo Wednesday. A six-member Presidential Commission of Inquiry was appointed by an Extraordinary Gazette Notification on February 24, 2021 to […]
Finance Minister of India assures her fullest support to economic recovery process in Sri Lanka
Finance and Corporate Affairs Minister of India Nirmala Sitharaman assured the High Commissioner of Sri Lanka to India, Milinda Moragoda of her fullest support and cooperation in the process of economic recovery in Sri Lanka. The Finance Minister of India gave this assurance when High Commissioner Moragoda called on her on 21 June at the […]
Dhammika Perera enters Parliament
Sri Lankan businessman Dhammika Perera was sworn in as a Member of Parliament before the Speaker today representing the Sri Lanka Podujana Peramuna (SLPP) as a national list MP. “I handed over my asset declaration and tax clearance certificate to the Speaker today,” speaking to journalists Perera said. “I think the President will give me […]
Central Bank deploys new system to monitor foreign currency transactions
Recognising the need to implement a comprehensive cross-border transactions and domestic foreign currency transactions monitoring system as a key national priority, the Central Bank has implemented a new data collecting system known as the International Transactions Reporting System (ITRS) with the participation of Licensed Commercial Banks (LCBs) and Licensed Specialised Banks (LSBs). The ITRS is […]
NCPI based headline inflation increased to 45.3-pct in May
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index has increased to 45.3% in May 2022 from 33.8% in April 2022. This increase in Y-o-Y inflation was driven by the monthly increases of both Food and Non-Food categories. Accordingly, Food inflation (Y-o-Y) increased to 58.0% in May 2022 from […]
Geographical Indication (GI) status for Ceylon Cinnamon attracts Turkish market
The Embassy of Sri Lanka in Turkey initiated a programme to promote Ceylon Cinnamon aggressively in Turkey after obtaining the European Union Geographical Indication status for Ceylon Cinnamon. The Embassy in collaboration with the Sri Lanka Export Development Board organized a networking and briefing session on Sri Lankan Spices, including Ceylon Cinnamon, to major Turkish […]
JKH to raise equivalent of USD 75Mn via unlisted convertible debentures to Fairfax Financial
John Keells Holdings PLC (JKH) announced it will raise the equivalent of USD 75 million of foreign direct investment by way of a private placement of Sri Lankan Rupee (LKR) denominated unlisted convertible debentures (“debentures”) to certain controlled affiliates of Fairfax Financial Holdings Limited, headquartered in Canada (collectively, “Fairfax”). The transaction amounts to a value […]
Towards a Developed Urban Transportation System: Lessons for Sri Lanka
A new publication from the Institute of Policy Studies of Sri Lanka (IPS) calls for a legally binding master plan for public transportation in Sri Lanka, whereby urban transport will become a fully integrated system instead of a collection of projects. The study notes that despite a broad planning context, the progress made in public […]
Zero chance for illegal migrants, says Australia’s new Minister for Home Affairs
Minister of Foreign Affairs of Sri Lanka Prof. G. L. Peiris held a meeting with Australia’s Minister for Home Affairs, Clare O’Neil MP during her visit to Colombo, Sri Lanka, from 19 to 21 June 2022. This is the first overseas visit Minister O’Neil has undertaken as the Home Affairs Minister reflecting the importance Australia places […]
Flights between China and Sri Lanka to increase
It has been decided to increase the number of flights between China and Sri Lanka. Accordingly, China will operate three flights to Sri Lanka from this week. SriLankan Airlines too offers frequent flights to China. This was revealed by the Chinese Ambassador to Sri Lanka Qi Zhenhong when he paid a courtesy call on President […]