In terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), the Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Department for Registration of Persons on January 11, 2017 at the Central Bank of Sri Lanka to receive information in order to…
Removal of customs duties would be accompanied by rigorous monitoring and conditional on continued commitment to sustainable development, human rights and good governance. The European Commission today proposed that a significant part of the remaining import duties on Sri Lankan products should be removed by the European Union in exchange for the country’s commitment to…
None of the companies like John Keells, Aitken Spence, Hayleys, Access etc are the wealthiest in Sri Lanka, said Prime Minister Ranil Wickremesinghe. Adding further, the Prime Minister said that the wealthiest commercial organization is the Employees Provident Fund (EPF). He said that if needed, this organization has the capability of buying over all these…
Redefining Expectations of the Discerning Business Traveler Park Inn by Radisson®, the star-class hospitality brand marked its entry on the paradise isle at a Ground-breaking ceremony held on Monday, under the patronage of Hon. John Amaratunga, Minister of Tourism Development & Christian Religious Affairs. An investment of the Sofia Hospitality (Pvt) Ltd., a subsidiary of…
Dr. Harsha de Silva, Deputy Minister of Foreign Affairs, visited Singapore on 9th January 2017 to address the Public Forum cum Panel Discussion on the theme “The Indian Ocean” organised by the Institute of South Asian Studies (ISAS) of the National University of Singapore. The other speakers who participated at this inaugural session of Distinguished…
Reuters – Sri Lankan shares erased early gains to end marginally lower on Tuesday as yields on short-term government securities rose in a weekly auction amid uncertainty over government’s monetary and budget policies. Yields on treasury bill auctions rose 9-19 basis points at a weekly auction on Tuesday to its four-month high, rising for the…
After the last boat registration issue was resolved several months ago, the SLA yacht finally launched with several successful whale charters. Two new areas were identified with large Blue Whale aggregations due the Sri Lanka Aggressors ability to travel hundreds of Nautical Miles over a 7 day charter trip. The new dispute has arisen over…
Shangri-La Hotels and Resorts announced the appointment of Timothy Wright, as Vice President & General Manager and Chris McFall, as Director of Sales & Marketing, for Shangri-La Hotel, Colombo due to open during the second half of 2017. The hotel will be the second property in Sri Lanka for the leading Asian hospitality group, joining…
LAUGFS Maritime Becomes the First to Register a Ship at Hambantota Port LAUGFS, one of the largest diversified conglomerates in Sri Lanka, is set to mark another monumental milestone by being the first to register a vessel at the Hambantota Port. The announcement was made together with the purchase of another LPG vessel under LAUGFS…
Records 77% sales volume growth in 2016 Huawei, a leading smartphone brand in Sri Lanka, announced that Singer Sri Lanka, the exclusive national distributor for Huawei smartphones, has successfully surpassed Rs. 1 bn Huawei smartphone sales generated solely inthe month of December 2016. As a trusted, state-of-the-art brand amongst the general public, Huawei together with…
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