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Thursday, 29 June 2017 05:57

Toyota recognizes best dealers

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Toyota Lanka (Private) Limited, the sole authorized distributor for Toyota vehicles in Sri Lanka, recently held its Annual Service and Spare Parts Dealer Convention 2017 at Jetwing Blue Hotel, Negombo. The event was graced by over 150 members of Toyota Lanka’s island-wide dealer network in a spirit of true comradely.

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Anilana Hotels and Properties Plc (ALHP) yesterday announced plans to sell 51% stake in the company to Singapore-based Somap International Pte Ltd. for Rs. 667 million.

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Foreign institutional shareholder and technical partner Ube Singapore Holdings Ltd. has invested a further Rs. 1.5 billion to increase its stake in Tokyo Cement Company (Lanka) Plc. to over 10%.

Tuesday, 27 June 2017 08:57

CB says continued consolidation crucial

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Continuation is key believes Central Bank Governor Dr. Indrajit Coomaraswamy, who has backed the Government to continue its fiscal consolidation process and aim for sustainable growth by keeping policy rates steady despite 2017 facing turbulence in reaching its growth targets after record natural disasters.

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Sri Lanka’s first ever National Youth Summit on Cyber Security will be held tomorrow at the BMICH, Colombo.

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Sarah Jones of Mini Exchange has just raised over $1 mn in seed funding in the UAE for her online clothing business for children and mums. She shares five tips for startups raising money in this region. From a mere 500 items at the start of 2014 to an offering of over 30,000 items from more than 250 international brands, the company has grown rapidly due to effective marketing campaigns and active social media presence. In January 2015, Mini Exchange was selected as the GCC-based start-up for the 10th edition of the US-hosted Google Blackbox Connect programme, which Sarah attended in Silicon Valley.

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With due consideration to the prevailing and evolving domestic and international macroeconomic environment, the Monetary Board, at its meeting held on June 22, 2017 was of the view that the current monetary policy stance is appropriate and decided to maintain the policy interest rates of the Central Bank of Sri Lanka at their present levels.

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Indirect taxes account for 80 percent of the government’s tax income. This will be brought down to 60 percent within the next two years bringing tangible relief and benefits to the innocent and poor people, Finance and Mass Media Minister Mangala Samaraweera said.

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The Committee on Public Accounts (COPA) tabled its latest report in Parliament yesterday. The report was prepared based on COPA investigations conducted over 36 State institutions between May and October last year.

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Remittances from Sri Lankan workers in oil-rich Gulf countries have dropped 15.6 per cent to Rs.487.9million in April and the Qatar crisis may hit hard the revenue from this sector, Central Bank Governor Dr. Indrajit Coomaraswamy said.

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