Jan 2 (FT) Export Development Board (EDB), in association with the Import Promotion Desk (IPD) in Germany, initiated a series of capacity building programs for export-oriented women led businesses in SL to encourage a new set of women-led exporters to the country’s economy. The collaboration between EDB and IPD represents a significant step toward empowering women entrepreneurs in SL, aiming to equip them with the necessary skills and knowledge to succeed more..

Jan 2 (TM) The main index of the Colombo Stock Exchange (CSE) is among the top 10 best-performing global indices of 2023 with a gain of 25.31% as the market closed at 10,654 on Friday, according to real-time financial market data platform investing.com. Accordingly, the list is topped by Karachi 100, the index of the Karachi Stock Exchange with a gain of 54.33%, while the index of the Moscow Exchange takes 2nd with a 43.87% gain & NASDAQ 3rd with a gain of 43.42%. more..

Jan 2 (ST) Colombo Fraud Investigation Bureau (CFIB) has observed a surge in forged documents presented to both state and non-state organisations, including paperwork given to foreign embassies to secure visas. Registrar of Motor Vehicles, Registrar of Persons, Immigration and Emigration, Customs, Inland Revenue, Labour, Customs and the Dept of Pensions are among the many govt offices more..

Jan 2 (FT) Commercial Bank of Ceylon has begun 2024 by underlining its commitment to sustainability – symbolically as well as literally. The instantly-recognisable Commercial Bank logo in blue will hereafter also feature a green element, representing the Bank’s multifaceted commitment to sustainability, encompassing diversity, inclusivity, good governance, transparency, social equity, accountability and eco-friendly banking solutions, Bank said. more..

Jan 2 (FT) SL Gem and Jewellery Association (SLGJA) in collaboration with National Gem and Jewellery Authority (NGJA) and Export Development Board announces the grand celebration of the 30th edition of Facets, Asia’s premier gem and jewellery exhibition. Scheduled to take place at the esteemed Cinnamon Grand Colombo from 6 to 8 Jan 2024, this milestone event marks 30 years of successfully highlighting the splendour and glamour of SL gems and jewellery in the global stage. more..

Jan 2 (Island) Even after imposing 18% VAT on fuel with effect from Jan 1, the govt continued to charge Rs 50 on a litre of both petrol and diesel purportedly to recover losses incurred by the highly corrupt state owned Ceylon Petroleum Corporation (CPC) over the years, SJB trade union leader Ananda Palitha said. The CPC owed the public an explanation why those who had been struggling to make ends meet were forced to more..

Jan 2 (DM) Two MPs who recently parted ways with the SLPP govt along with the group led by MP Dullas Alahapperuma- Professor G. L. Peiris and Dilan Perera- convened at the opposition leader's office and declared their move to form a grand political alliance in view of the Presidential Elections. The trio of MPs affirmed their dedication to building a cohesive opposition alliance under the leadership of Sajith Premadasa who is the Leader of the Opposition. Professor Peiris underscored more..

Jan 2 (Island) Everyone above the age of 18 years failing to obtain a Taxpayer Identification Number (TIN) would be liable to a fine of Rs 50,000, the Inland Revenue Department (IRD) said. Starting from yesterday (1), a mandatory tax registration requirement has been instituted for individuals aged 18 years and above or those reaching 18 after this date. IRD says that individuals falling under these criteria must register with the dept and obtain a TIN. In addition, anyone earning more..

Jan 2 (TM) In the wake of the second death in the Matara Prison caused by meningitis being reported on 31 Dec last year (2023), the Department of Prisons said that while the situation is now under control since no new cases have been reported within a period of one week, the situation is still being monitored closely to avoid possible threats. A 53-year-old resident of Walasmulla had died on 31 Dec while being treated in the ICU of Matara District General Hospital after being admitted to more..

Jan 2 (TM) SL is planning to resume the operations of the passenger ferry service connecting India’s Nagapattinam and SL’s Kankesanthurai (KKS) – which has currently been halted due to unfavourable weather conditions – in the middle of this month, said Ministry of Ports, Shipping, and Aviation. Ministry is planning to resume the operations of the ferry service from this month as soon as the prevailing unfavourable weather conditions are over. “We halted ferry service due to high tides more..

Jan 2 (TM) Although some of the 350 Sri Lankans who have not been paid for over a year by their employer and are stranded in Jordan can be repatriated through general procedures, a special decision will have to be taken regarding some of them who have gone there on tourist visas, and then been working, said State Minister Jagath Pushpakumara. It was recently reported that around 350 Sri Lankans who have not been paid for more..

Jan 2 (FT) The year 2023 was truly a historical one for the SL Govt Securities market as the events that unfolded led to some major developments and industry firsts. The year started off with elevated yields, which were at unprecedented levels due to a default risk premium attached to Treasury Bills and Bonds following the economic crisis and political crisis of 2022 and ensuing halt on external debt servicing. This brought about concerns of the possibility of local debt restructuring more..

Jan 2 (DN) Bank of Ceylon will launch a mega global campaign to channel low cost funds to SL via their int'l branches, said BOC Acting Chairman Naresh Abeseysekera at the function held to commence the New Year, yesterday. He said that this would be done by building digital financial infrastructure in their overseas branches. “We have set our sights on building digital financial infrastructure in all our overseas locations. This is mainly to mobilize deposits and lend through our overseas more..

Jan 2 (EN) SL’s economy is expected to record a growth in 2024 for the first time in three years after contractions in the previous two years, State Minister Shehan Semasinghe said. The economy recovered last year, but still estimated to have recorded a contraction of around 3% from a 7.8% contraction in 2022. However, the economy has shown signs of expansion from the third quarter of last year due to gradual rise in economic activities under a lower interest rate & single digit inflationary regime. more..

Jan 2 (FT) In a synchronised move, all three key players in the fuel industry and the two domestic LP gas players raised prices amid the new VAT regime came into force impacting all economic sectors. Yesterday’s adjustments saw CEYPETCO, Lanka IOC aligning their rates whilst Sinopec opted for a slightly lower increase, keeping its Petrol Octane 92 and Auto Diesel prices Rs. 3 less than the other two competitors. Accordingly, Petrol Octane 92 was increased by Rs. 20 to Rs. 366 per litre, more..

Jan 2 (CT) An inquiry has been initiated into a group of individuals preparing a basket of flowers, allegedly using several endangered flora within Sri Pada Peak Wilderness Sanctuary, which are protected by the Fauna and Flora Protection Ordinance. The flowers were apparently offered in prayers and homage to the sacred Sri Pada site. Peak Wilderness Sanctuary is the third largest nature reserve in Sri Lanka. more..

Jan 2 (FT) In a noteworthy feat, December marked the highest tourist arrivals, propelling SL’s total visitors to 1.48 million visitors in 2023 — just shy of the annual target by a mere 0.85%. For the first time since the Easter Sunday attacks, country surpassed the 1.45 million tourist arrival mark, showcasing a remarkable year-on-year (YoY) growth of 106.6% compared to 2022. Although the authorities projected 242,135 arrivals in December, realised figure only reached 87% of the target. more..

Jan 2 (Island) Police yesterday demolished a hotel, in Dehiwela, allegedly belonging to an absconding drug dealer. It was identified as an illegal construction on the beach. Police said that the illegal construction belonged to a wanted criminal currently living abroad. The hotel had been identified as an illegal construction and the police and other government authorities had called for its demolition. Police had taken into custody three persons including one identified himself as a more..

Jan 2 (FT) SL had seen a drastic increase in imports to the country during the last two weeks aiming to gain undue advantage of the VAT increase which came into effect from Jan 1, State Minister Ranjith Siyambalapitiya said. He said some people were trying to fish in troubled waters with the VAT increase where they had imported large amounts of goods than the requirement of the country, aiming to gain undue profits. more..

Jan 2 (FT) As in 1994, corruption has become the dominant narrative in this election year. The General Election was held on 16 Aug 1994. The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) Act, No. 19 of 1994, was certified on 27 October, 72 days after the General Election and a few days before the Prez Election. There was no white paper and no consultation. The rapidity of enactment provides a plausible explanation for the poor quality of the resulting legislation. more..

Jan 2 (FT) In 2024, fifteen years after the end of the armed conflict in Sri Lanka, the ethnic conflict remained unsolved. Tamils who have been victims of human rights violations for decades and pushed to the point of exhaustion by an uncaring state and callous Govts, continue to demand justice. The Govt, and even the international community, offer reconciliation as an alternative to the Tamil community. What will reconciliation, that is an alternative to justice and not the natural more..

Jan 2 (EN) Minister Manusha Nanayakkara said he rejected the recommendation for reinstating the ban on mothers with children under 5-years working abroad. “Parental responsibility belongs to both the mother and the father,” he said. “Why should this apply to mothers and not to fathers?” The recommendation to reinstate the ban on mothers of young children from foreign employment was made by the Sectoral Oversight Committee on Children, Women and Gender Relations. more..

Jan 2 (TM) Last Sunday, Sunday Morning Sports reported several allegations aimed at the President of SL Society of Rugby Football Referees Dinka Pieris. He has now come forth to refute all allegations regarding the fund transfers and believes these crude attempts tarnish his image just before the upcoming AGM. Allegations were regarding the transfer of a fixed deposit from HNB Bank to Pan Asia Bank without the consultation of the general members and without adhering to a proper more..

Jan 2 (CT) Over 300 exotic birds had been imported on 30 December 2023, sans the required licence, on a private plane arriving at MRIA, Mattala. The birds were intended for display at a private zoo in the country. According to SL Customs, the airplane, that carried 330 exotic birds, arrived from Suriname. SL Customs Spokesperson Seevali Arukgoda said due to permit issues, the birds were prevented from being released. more..

Jan 2 (AD) The highest vegetable prices recorded within the country in recent history was registered today, the Peliyagoda Manning Public Trade Association said. It is reported that the prices of vegetables have increased as a result of the prevailing heavy rainfall and reduced yield. Commenting on the current situation, D.P. Prasad Susantha of Peliyagoda Manning Public Trade Association said the farmers have even refrained from sending the vegetables to the markets more..

Jan 2 (FT) “Walking into the Galle Face Hotel is an emotional experience,” says LOVI CEO Asanka de Mel. “Growing up, I remember my father believed…actually we all believed…it was the most beautiful place in Colombo,” he said. For 160 years, the hotel, the Grande Dame of the Orient, has stood by the Indian Ocean, a silent witness to the changes in SL. As you enter the lobby, you’re greeted by an Ayubowan, and immediately you feel the grandeur, the warmth, the embrace of Sri Lanka. more..

Jan 2 (AD) Health Minister Ramesh Pathirana has ensured that the Ministry is closely monitoring the emergence of the novel COVID-19 sub-variant ‘JN1’ reported from India. While acknowledging that no cases have been reported from the sample tests conducted thus far, Pathirana urged the public to adhere to the health practices established during the previous waves of COVID-19. Furthermore, Minister announced that preparations more..

Jan 2 (EN) Health authorities are planning to vaccinate children to immunize against measles which has re-emerged in the island nation as fears over failure to immunize had led to spreading of the disease in the country. Although SL has been recognized by the WHO for eradicating measles, the country has seen around 700 reported cases last year, Health Minister Ramesh Pathirana said. “Certain deficiencies in people’s existing immunity may have contributed to this situation,” more..

Jan 2 (AD) The Ministry of Finance has issued a clarification regarding Tax Identification Numbers (TINs), emphasizing that possessing a TIN does not automatically imply liability for income tax. Accordingly, only individuals aged 18 and above, whose income surpasses the annual tax exemption limit of Rs. 1.2 million, are obligated to pay income tax. Despite this clarification, the PMD outlined that a TIN is compulsory for specific activities, effective from 01 February. more..

Jan 2 (CT) A 40-year-old mother of four and resident of Nittambuwa, returned to the country last morning, following an assault by her employer and job agent while working in Saudi Arabia. Upon her arrival at the BIA, it was evident that the victim, Sureni Wasana, was in poor health, struggling to speak properly or walk. She shared her harrowing ordeal with the media, detailing the abuse she endured. “I was employed at a house in Al Asad as a domestic aid. I left for Saudi Arabia on 6 Dec 2022, more..

Jan 2 (AD) The govt has decided to give the National Transport Commission (NTC) the authority to take decisions pertaining to the charges and fares levied for public transportation, including railways, three-wheeler and school transport services. Minister of Transport Bandula Gunawardena said the relevant documents have been sent to the Attorney General in order to amend the relevant Act. Gunawardena also emphasized that he submitted a Cabinet paper on Monday, more..

Jan 2 (AP) A group of Rohingya refugees living in SL staged a protest outside the office of the U.N. refugee agency Tuesday, saying they fear losing their living allowance once the agency's office in the island nation closes at the end of this year. Protesters also want to be resettled in another country because SL does not allow them to live there permanently. About 100 Rohingya refugees live in SL, most of them rescued at sea by more..

Jan 2 (FT) Lanka Milk Foods (CWE) has concluded a Rs. 5 billion worth shareholding restructuring involving four subsidiaries. They are Ambewela Products Ltd, United Dairies Lanka Ltd, Ambewela Livestock Company Ltd, and Pattipola Livestock Company Ltd. LMF has transferred the entirety of shares it owns in the four subsidiaries to Lanka Dairies Ltd, (LDL) a fully owned subsidiary. This is in pursuance of a proposal to restructure the group of companies under LMF for the purpose more..

Jan 2 (AD) SL Police introduced a hotline for the public to provide information in relation to the ongoing massive anti-drug operation Yukthiya, which is being carried out across the island. The hotline was introduced under the directive of the Acting IGP Deshabandu Tennakoon, while stickers displaying the relevant hotline number were also pasted on the back of three-wheelers today. Accordingly, the public has been urged to contact the Police Headquarters via phone number 071 859 8800 more..

Jan 2 (Nikkei) Surging investment from China, including a multibillion dollar oil project late last year, is leaving a giant question mark over SL even as it tries to restructure towering debt and recover from its worst economic crisis as an independent nation: Just how much leverage does Beijing have over the island country? China is the largest bilateral creditor to SL, which in May 2022 became the first Asian lower-middle income more..