The last rites for Deshabandu Patrick Amarasinghe who passed away on Thursday will be held at 4.00 pm today (10 October) at the Kanatte in Borella Deshabandu Patrick Amarasinghe, a veteran industrialist and a former Chairman of the Federation of Chambers of Commerce and Industry passed away at the age of 83. Patrick Amarasinghe’s entrepreneurship…
The Sri Lanka Motor Vehicle Importers’ Association has put forward a series of proposals to the Finance Ministry for the preparation the 2016 Budget with one of the proposals being the reduction of the Customs levy on vans. This states that currently the Customs duties on lorries and vans are very high though these vehicles…
In a significant development affecting the Sri Lankan retail market segments, Singapore has extended its support the revive LAKSATHOSA, Sri Lanka’s sole state owned retail chain -and the immediate offer of support comes in the wake of a Ministerial level request made on 7 October in Colombo. “We’ll do this for Sri Lanka-Singapore is pleased…
The government is preparing to appoint a mediatory committee to look into the current issues that have arisen over the Colombo Port City Development Project and submit a report to the Ministerial Committee on Economic Management on the suitable steps to be taken. Minister of Ports and Shipping Arjuna Ranatunga has proposed the setting up…
A select committee would be appointed to investigate into the activities of the Central Bank of Sri Lanka (CBSL) during the last 10 years, Prime Minister Ranil Wickremesinghe told Parliament on 08 October. While adding further, the Prime Minister said that the government is not satisfied with the performance of the CBSL and hence its…
Colombo Bourse continued the lackluster trading activity on Thursday and closed with mixed returns amid the low investor interest due to lack of clarity in policy directions. Benchmark index declined to 7,072 mark during the session but closed higher at 7,085.65 with a marginal increase of 0.20 index points or 0.00%. 20-scip S&P SL index…
Sri Lanka will seek international competitive bids to select operators for its first urban railway project, the head of the country`s investment agency said. Upul Jayasuriya, chairman of Sri Lanka`s Board of Investment, spoke to The Nikkei while on a visit to Japan about Sri Lanka`s urban railway project. The plan is for a 30-kilometer…
How the prices of many Japanese vehicles imported to Sri Lanka would increase was reported yesterday (07 October). As revealed to us, though the government had initially announced that the price increase would be effective on these vehicles for which Letters of Credit had been opened after 17 September 2015, it has now been announced…
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…
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