Through the Gazette notification No. 1933/16 pertaining to imposing Customs duties, the government has announced new Customs duties on Japanese motor vehicles like Toyota and others imported to Sri Lanka. Accordingly, the Customs duty on a Toyota Aqua vehicle has been increased by Rs. 770,000while the duty on a Toyota Axio vehicle has been increased…
Sri Lanka has reportedly asked India to change the location of a stalled US$500 million power project to be built by NTPC Ltd. This is the second time that Sri Lanka has made the request for change of location for this project. The first was in 2007. Any change in the project’s location will require…
Visitors to Sri Lanka as well as Sri Lankans travelling overseas can now support the country’s brand with a cause and live the passion prior to departure, following the opening of an independent Embark store at the Bandaranaike International Airport (BIA) Katunayake. Hot on the heels of the opening of the first independent Embark store…
Japan’s Foreign Ministry has announced that the Japanese government is to provide USD 380 million (Yen 45.4 billion) for the expansion of Sri Lanka’s Bandaranaike International Airport (BIA). While the signing of this agreement during Prime Minister Ranil Wickremesinghe’s current tour of Japan, Japan has also expressed its keenness on providing cooperation towards Sri Lanka’s…
Colombo equities closed Tuesday session on a negative note amid the concerns on budget 2016 which is due on next month. Market swung between gains and losses where benchmark index advanced to 7,105 mark but failed to retain the momentum to close at 7,085.93, marginally down by 3.13 index points or 0.04% while 20-scrip S&P…
Sudath Chaminda Munasinghe has resigned as Chief Executive Officer at John Keells PLC with effect from 01 October 2015. He does not have any relevant interest in shares of the company. Hishantha Gerard Rodney de Mel has been appointed Acting Chief Executive Officer at John Keells PLC with effect from 01 October 2015. He too…
Paying an additional Rs.3 lakh for a hybrid car wasn’t something Sunil Kumar, a Palakkad, Kerala-based neurosurgeon who was looking to upgrade from his seven-year-old Toyota Corolla, had in mind initially. But a quick, back-of-the-envelope calculation swung the decision in favour of the Toyota Camry. Kumar’s new hybrid car gives a mileage of 16km to…
The Sri Lankan rupee rose on Tuesday on dollar sales by a private bank amid mild demand for the greenback from importers, dealers said. The rupee were trading at 140.95/141.05 per dollar at 0526 GMT, compared with Monday’s close of 141.24/28. Dealers said the two state banks, through which the central bank directs the market,…
Finance Minister Ravi Karunanayake has reportedly requested Sri Lankan businessmen in Japan not to send Japanese vehicles to Sri Lanka till the next budget is presented. This request had been reportedly made by the Finance Minister who has joined Prime Minister Ranil Wickremesinghe on his official tour to Japan, during a discussion he had with…
Remember the ever-rising electricity bills from your air-conditioner? Or the freezing coldness in December in your home in the hill country? A simple solution for the countless problems of this nature exists today in the form of ‘double glazing’, a novel concept that can transform all windows and glass surfaces in your homes and workplaces….
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