Sri Lanka is prepared to enter into a USD 02 million promotional campaign with world renowned business media institution Bloomberg to promote the islands tourism sector, said Sri Lanka Tourism Promotion Bureau Chairman Rohantha Athukorala. This promotion campaign would be for only one quarter of the year. Bloomberg Television is telecast to over 40 countries…
• Lauds Provincial Agriculture Minister P. Ayngaranesan for condemning the misinformation campaign against the Chunnakkam Power Plant In the light of Environmentalist and Northern Provincial Minister of Agriculture, Livestock, Irrigation and Environment Ponnudurai Ayngaranesan condemning the misinformation campaign against the Northern Power Company-run Chunnakkam power plant, who stated that the protests are politically-motivated and requested…
Prominent Sri Lankan entrepreneur Hemaka Amarasuriya is to be appointed as head of Sri Lanka Insurance, Finance Minister Ravi Karunanayake told www.adaderanabiz.lk this evening (14 February). Hemaka Devapriya Senarath Amarasuriya is the Founder President of the Industrial Association of Sri Lanka. Mr. Amarasuriya served as Vice President of Retail Holdings N.V, Senior Regional Vice President…
A high level government delegation that is to visit Washington shortly is to request a loan of around USD 04 billion from the International Monetary Fund (IMF) as a concession to Sri Lanka’s balance of payments. The IMF took steps to provide a concessionary loan of USD 2.5 billion to Sri Lanka in 2009. Finance…
The Cabinet has approved the proposal by the President and Minister of Defense to release another 1,000 acres of land area in different stages in the Palay area being maintained by the Sri Lanka Army and the Sri Lanka Air Force as High Security Zones. This follows a large extent of land from the 11,639…
The tax free vehicle permit provided to government servants can be transferred to another even in the future and the government has not taken any decision to change this procedure, says the Finance Minister. Finance Minister Ravi Karunanayake said that media reports to the effect that the government is preparing a circular to prevent these…
At first blush, it’s lunacy – a 900-horsepower, all-electric supercar from an island nation best known for tea and tourism, not tech. Yet the team behind the stunning Vega sports car has credentials – and financial backing – befitting similar passion projects emerging in California’s Silicon Valley. The effort is the brainchild of technology entrepreneur…
Colombo equities edged lower on Tuesday as investors took a breather after five-day winning streak. Market sentiments were volatile amid the expectation of an increase in interest rates and mixed signals on corporate earnings. In the opening hours, bourse declined to 7,311.54 (-47.87 index points or -0.7%) but managed to close higher at 7,331.39 with…
After he revealed that an Indian vehicle marketing company is not passing the full tax concession introduced by the new government’s interim budget to its clients, the Managing Director of this particular company met him this morning, said the Finance Minister. Finance Minister Ravi Karunanayake added that the particular Managing Director had agreed to pass…
In spite of the new government’s interim budget proposing a 15 per cent interest on deposits by senior citizens, several bank officials have not implemented this, said Finance Minister Ravi Karunanayake while speaking to the media today (12 February). He said that several officials of the Bank of Ceylon have been interdicted for failing to…
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