Tuesday , March 19 2019
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Sri Lanka

Sri Lanka rupee gains: Stocks marginally down

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The Sri Lanka rupee ended firmer at 178.25/40 to the US dollar Monday compared to Friday’s close of 178.40/55 while shares were little changed, brokers said. ‘Inflows from a sale of US 2.4 billion dollar sovereign bond are expected to boost the rupee,’ brokers said. The rupee has climbed 2.4 percent so far this year but dropped 16 percent in ... Read More »

Two Sri Lankan women nabbed at Pune airport in India for smuggling gold worth over Rs 3 million

(FILES) - Gold bars are pictured on April 6, 2009 at a plant of gold refiner and bar manufacturer Argor-Heraeus SA in Mendrisio, southern Switzerland. The price of gold hit a record high above 1,100 dollars an ounce in trading on November 6, 2009 in London following a report that Sri Lanka had joined India in purchasing the precious metal in favour of the US currency. AFP PHOTO / SEBASTIEN DERUNGS (Photo credit should read SEBASTIAN DERUNGS/AFP/Getty Images)

Colombo : Indian Customs officials on Thursday have arrested two Sri Lankan women for allegedly smuggling gold worth around Rs 30 lakh, at the Pune airport. According to police, the women arrived from Singapore by a Jet Airways flight and walked through the Green channel without declaring anything to the Customs, ANI reported. After noticing suspicious movement, Customs officials interrogated ... Read More »

World Bank to help Sri Lankan farmers tackle climate change

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Sri Lanka is particularly vulnerable to climate-related natural disasters such as floods and droughts with hundreds of people killed in recent years, the report said. “Innovation, including the introduction of improved crop varieties, cropping patterns, water resources management, among others, can help farmers adapt to changing climate and improve their incomes and livelihoods,” said World Bank Country Director for Maldives, ... Read More »

US delegation visits Hambantota Port

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Colombo : A delegation headed by US Ambassador to Sri Lanka and Maldives Alaina B. Teplitz, visited the Hambantota International Port . The visit was a part of the US Government’s mission to meet senior government and private sector officials, to discuss investment opportunities in Sri Lanka as well as to tour key economic development projects. The Ambassador was accompanied ... Read More »

Norway to provide NOK 60 million for mine action in Sri Lanka

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Colombo : The Government is providing NOK 60 million over a period of three years for mine action in Sri Lanka. ‘Sri Lanka has been heavily contaminated by landmines, but the country is now approaching its goal of becoming mine-free. This year, Norway holds the presidency of the Mine Ban Treaty, and intends to help Sri Lanka achieve this important ... Read More »

IMF revives Sri Lanka bailout hit by power struggle

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The International Monetary Fund on Friday revived a USD 1.5 billion bailout for Sri Lanka that was suspended over a government power struggle last year that seriously slowed economic growth. The Washington-based lender said officials visiting Colombo agreed to re-activate the three-year loan, which started in 2016 and spread the instalments over an additional year. “The team reached understandings at ... Read More »

Sri Lanka to launch new map in March

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COLOMBO: Sri Lanka will launch a new map by March following changes made to Sri Lanka’s shoreline due to projects such as the Colombo Port City and the Hambantota Port in southern Sri Lanka, the Survey Department said on Wednesday. P.M.P Udayakantha, Surveyor General from the Sri Lanka Survey Department, told Xinhua that the Survey Department had finished the compilation ... Read More »

Prima Ceylon celebrates 40 years in Sri Lanka

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Prima Ceylon, the flagship company of the Prima Group Sri Lanka, celebrated four decades of successful partnerships and growing together with the nation, at an event recently in Trincomalee, where its state-of-the-art flour milling complex and one of the largest flour mills in the world under one roof, is located. Being Sri Lanka’s first recorded Foreign Direct Investment (FDI) in ... Read More »

Sri Lanka’s leading port to be transformed into smart port

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Colombo: Sri Lanka Ports and Shipping Ministry, on Monday said it has taken steps to modernize information technology at the island’s Colombo port to transform it into a ‘smart port’ with many automated functions to improve efficiency. In a statement, Ports, Shipping and Southern Development Minister Sagala Ratnayaka said the government had allocated Rs. 929 million rupees, an estimated 5.18 ... Read More »

Sri Lanka: Ports Authority wins GPF Ports Authority of the Year 2019 Award

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Sri Lanka Ports Authority (SLPA) won the Ports Authority of the Year 2019 Award by the Global Ports Forum (GPF) for the second consecutive year at the GPF awards ceremony 2019 followed by the conference forum held at the Hyatt Regency Dubai Deira, in the United Arab Emirates on 20thFebruary 2019. Mr.Upul Jayatissa – Director (Logistics, Marketing & Business Development) ... Read More »

Sri Lankan Ports Authority partners with Ironman 70.3 Colombo

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The Sri Lanka Ports Authority (SLPA) is partnering with Ironman 70.3 for its second long distance triathlon to be held in the Sri Lankan capital Colombo. The endurance race covering running, cycling and swimming is being held of the second consecutive year in Colombo. Some 739 athletes from 58 countries will take part in the 70.3 miles (113km) event. “The ... Read More »

Planters’ Association of Ceylon reiterates that Rs. 750 daily wage final

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Planters’ Association of Ceylon reiterates that the new collective agreement between Regional Plantation Companies and estate sector trade unions is already binding. “It does not require any further action from any other stakeholders in order to proceed with the new wage among the RPC sector,” Secretary General of the Planters’ Association, Lalith Obeyesekere said. “Therefore wages have already been paid ... Read More »

MV Beijing Bridge makes maiden call at Port of Colombo

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Colombo: MV Beijing Bridge under its AGI Service made the maiden call at the Port of Colombo’s Sri Lanka Ports Authority (SLPA) controlled Jaya Container Terminal (JCT) on last week. In order to mark the vessel’s maiden call at the Port a plaque exchange was also held between SLPA Additional Managing Director Upali De Zoysa and MV Beijing Bridge Captain ... Read More »

New laws to prevent using fishing boats for human smuggling

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A special discussion was held with the State Minister of Fisheries and Aquatic Resources Development Dilip Wedaarachchi regarding the problems faced by multi-day trawler owners due to the use of fishing boats for human smuggling. About 50 multi-day fishing trawler owners and fishermen attended the discussion held at the Ministry of Fisheries and Aquatic Resources Development. Multi-day fishing trawler owners ... Read More »

Director General entrusted to investigate alleged corruptions in Customs

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Colombo: Minister of Finance and Mass Media, Mangala Samaraweera says that he has no need to protect anyone involved in frauds and corruption in the Sri Lanka Customs, which is an institution under his purview. Accordingly, the chief officers of the Customs and trade unions are given the responsibility of revealing the information on the alleged frauds and corruptions taking ... Read More »

Customs nab five Sri Lankans smuggling foreign cigarettes worth over Rs. 3 million

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Colombo: Sri Lanka Customs officials have arrested five Sri Lankan passengers at the Bandaranaike International Airport in Katunayake for attempting to illegally bring a stock of foreign cigarettes into the country. Officers of the Narcotics Control Unit of the Sri Lanka Customs had seized the foreign cigarettes and arrested the suspects. Customs officers say they have found over 300 cartons ... Read More »

Wholesale traders enter customs trade union battle

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COLOMBO : All wholesale shops in Colombo will be closed today (February 05) as a result of the ongoing trade union action launched by the Sri Lanka Customs. This was confirmed to News 1st by the President of the Essential Goods Importers Association G.Rajendran. The work-to-rule action was launched by the customs trade unions on the 29th of last month ... Read More »

Sri Lanka wants South Asia trade integration as soft-peg trigger import controls

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Colombo : Sri Lanka wants greater trade liberalization and trust among South Asian economies to accelerate development and reduce poverty, a top central banker said, after slapping trade restrictions which has hit Indian vehicle exports and gold trading. High import protection, partly imposed to make up for policy errors of soft-pegged central banks in the region as well as political ... Read More »

BOI signs MOU with Coast Conservation Coastal Resources Management Department

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Colombo: The Board of Investment of Sri Lanka has signed a Memorandum of Understanding with the Coast Conservation & Coastal Resources Management Department. The MOU was signed on behalf of the BOI by Mrs. Champika Malalgoda, Director General of the BOI and by Mr. B K Prabath Chandrakeerthi, Director General of the Coast Conservation & Coastal Resources Management Department. The ... Read More »

Six members of SL family arrested at BIA

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Colombo : A Sri Lankan family of six who attempted to smuggle a large stock of cosmetics, imported cigarettes and foreign liquor worth nearly Rs.1 million were taken into custody by the Customs at the Bandaranaike International Airport (BIA) on Wednesday evening. The Customs officials stationed at the Arrival Terminal on suspicion checked a family of six including several women, ... Read More »