SL rules out currency devaluation in 2012
Sri Lanka\'s central bank is not contemplating a fresh move to devalue its rupee currency this year, its Gov. Ajith Nivard Cabraal said on Monday, contrary to market speculation due to a looming balance of payment crisis.
[Views:262] [Tue, Jan 03, 2012] [Full Article]

Dr. R.H.S. Samaratunga appointed Sec to Petroleum Ministry
Dr. R.H.S. Samaratunga has been appointed as the Secretary of the Ministry of Petroleum Industries, Ministry sources stated.
[Views:245] [Tue, Jan 03, 2012] [Full Article]

Maldives bans hotel spas after protests
The tourism ministry instructed all resort hotels across the country\'s 1,192 tiny coral islands to shut their spas and health centres with immediate effect.
[Views:192] [Sun, Jan 01, 2012] [Full Article]

CAA earns Rs.1 billion in fines
The Consumer Affairs Authority (CAA) has earned Rs.1 billion in fines through various raids it has conducted this year alone. It has conducted 45,000 raids within the year 2011, CAA Chairman Rumy Marshook stated.
[Views:136] [Sun, Jan 01, 2012] [Full Article]

Compensation for vehicle owners completed by Jan 6 - CPC
The compensation for vehicles that were damaged due to pumping substandard petrol will be completed on January 6, the Ceylon Petroleum Corporation (CPC) stated.
[Views:143] [Sun, Jan 01, 2012] [Full Article]

Dinesh Weerakkody appointed Chairman of Commercial Bank
Dinesh Weerakkody was appointed Chairman of the Commercial Bank with effect from today (December 30), sources stated.
[Views:112] [Sun, Jan 01, 2012] [Full Article]

Citibank ordered to pay US$ 2.5 million to Sri Lanka
A Singapore arbitrator has ordered Citibank to pay US $ 2.5 million to Sri Lanka as court fees over the case filed on the hedging deal. On August 1, a Singapore arbitrator voided an oil hedging deal between Sri Lanka and Citibank, rejecting the bank’s demand for 192 million US dollars and interest payments.
[Views:77] [Thu, Dec 29, 2011] [Full Article]

Zahra International announces two new drinks
Zahra International has announced plans to introduce to Sri Lanka a sparkly addition of fruit based beverages to make your taste buds tingle this Christmas.
[Views:59] [Thu, Dec 29, 2011] [Full Article]

16 financial institutions to be taken to courts
The Central Bank will take legal action against 16 financial institutions that were operating without the authorisation of the monetary board, Parliament was informed yesterday.
[Views:110] [Wed, Dec 21, 2011] [Full Article]

Law to use plastic crates won’t change
The law to use plastic crates for transporting fruits and vegetables will not be changed but land master tractors and three wheelers will be allowed to transport these goods without plastic crates, Minister of Co-operatives and Internal Trade Johnston Fernando said.
[Views:402] [Wed, Dec 14, 2011] [Full Article]

Qatar keen to invest in SL
Qatar investors have shown keen interest in participating in Sri Lanka\'s on going development activities, Qatar Prime Minister Sheikh Hamad Bin Jassim Bin Jaber Al-Thani said.
[Views:162] [Fri, Dec 09, 2011] [Full Article]

Plastic containers for vegetable transportation mandatory
It will be mandatory to transport vegetables and fruits in plastic containers with effect from midnight December 11, Minister of Cooperatives and Internal Trade, Johnston Fernando stated.
[Views:175] [Thu, Dec 08, 2011] [Full Article]

CB strongly denies involvement of officials in alleged gold scam
The Central Bank strongly denies the involvement of its officials in the alleged gold scam reported by certain sections of the media. Despite several press releases issued earlier by the Central Bank clarifying its position that it does not involve in gold trading activities locally, some media still continue to carry news items alleging Central Banks’ involvement in this regard, stated the Central Bank.
[Views:110] [Thu, Dec 08, 2011] [Full Article]

Selected Lankan businesses to get faster UK visas
The British High Commission (BHC) today launched a new fast track visa pilot scheme for selected Sri Lanka companies doing regular business with the United Kingdom.
[Views:89] [Thu, Dec 08, 2011] [Full Article]

Commercial Credit Net Profit grows tenfold in 1H 2011
Catering to a more diversified market has enabled Commercial Credit, to increase its net profit for the six months ended 31 September 2011 to Rs. 265.5 Mn. This is an increase of 1604% per cent over the corresponding period in the previous year.
[Views:89] [Wed, Dec 07, 2011] [Full Article]

Increased Limits on Foreign Investments in Government Securities
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held December 5, decided to raise the current threshold for foreign investments in Treasury bills and Treasury bonds from 10% of the outstanding Treasury bill and Treasury bond stock to 12.5%.
[Views:110] [Tue, Dec 06, 2011] [Full Article]

CEB earns over Rs.23M from Jaffna raids
The Ceylon Electricity Board has acquired Rs.23, 677, 063 from raids conducted o November 26, 27, 28 and 29 in the Jaffna District alone. It has been estimated that out of the total sum Rs.1, 260, 000 is from fines and Rs.22, 417, 063 from CEB losses, the Ministry of Power and Energy said today.
[Views:95] [Sat, Dec 03, 2011] [Full Article]

CEB workers to take union action over 45% salary hike
Ceylon Electricity Board (CEB) workers have decided to take to trade union action demanding salary increments. It has been reported that all trade unions affiliated to CEB have commenced discussions regarding the matter and that they demand a 45% salary hike.
[Views:118] [Fri, Dec 02, 2011] [Full Article]

Lanka urged to withdraw new tax on agri products
Pakistani exporters on Monday urged the Sri Lankan government to withdraw its decision of levying new tax on the import of agricultural products as it would affect Pakistani exports to the country.
[Views:124] [Wed, Nov 30, 2011] [Full Article]

Johnston admits 22,500 coconuts dumped at sea
Internal Trade Minister Johnston Fernando admitted in Parliament today that 22,500 coconuts valued at Rs.688,506 and imported from India were destroyed by being dumped at sea.
[Views:104] [Wed, Nov 30, 2011] [Full Article]