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  • Intensive week for German-Sri Lankan relations; Speaker of German Parliament in town
  • Colombo hosts top 40 diplomats at regional German Ambassadors’ conference
  • Konrad Adenauer Foundation conference to bring 20 young political leaders from Asia-Pacific region
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The Ceylon Chamber of Commerce welcomes the decision by the Ministry of Finance to postpone the abolition of the SVAT system that was due to come in to effect on 1st April 2017, following joint submissions made by the Ceylon Chamber of Commerce (CCC), Joint Apparel Association Forum (JAAF), Exporters Association of Sri Lanka (EASL), The Lanka Fruit and Vegetable Producers, Processors and Exporters Association (LFVPPEA), National Chamber of Exporters (NCE), National Chamber of Commerce (NCC) and Sri Lanka Shippers' Council.

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Prof. Mohan Munasinghe who shared the 2007 Nobel Prize for Peace was the Chief Guest at the world renowned Energy Globe Award ceremonies in Vienna on 17 March 2017. His speech was webcast to over 50 million viewers in 5 continents.

Friday, 31 March 2017 09:54

NSB posts best-ever results in 2016

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NSB’s operating profit at Rs. 16.1 billion recorded a 4% increase as compared to the previous year. These reported profits were achieved despite lower interest margins on account of an elevated market interest rate scenario.

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  • Popular and plain - speaking Lankan-born economist predicts a prolonged global downturn in 2017-2019
  • Money printing by six global central banks rose by unprecedented 240% to $ 17 trillion from 2006-2015
  • Tips rising protectionism globally, massive Budget Deficits, more Quantitative Easing to finance deficits, further rise in Govt.and private debt
  • Urges Govt. and private sector to convert global recession to a “golden opportunity” to lure Chinese and other factories to be relocated in Sri Lanka by becoming competitive
  • Warns Sri Lanka cannot afford the luxury of bickering between political parties and it is country’s loss if fresh opportunity is missed
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The recent steep rise in duty and tax imposed by the government on synthetic lubricants is causing alarm in the market, as lubricant suppliers are now starting to pass on the hike to the end users.the duty and taxes have been increased by 31 percent. This has forced suppliers in the local lubricant market to increase prices accordingly and consumers are affected adversely as they have to pay substantially higher prices as a result. Local franchise car agencies too are affected, as they are forced to pass on a substantial cost increase to the customer.Unfortunately, this duty and tax hike will only result in discouraging the vehicle owners from using synthetic lubricants due to the high price. This is not a welcome development for the country as synthetic lubricants help vehicles to perform better,when compared with conventional oils, thereby saving exchange for the country and less emissions.

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The Research Intelligence Unit says that in terms of the total number of office space buildings, Grade A developments only account for a small percentage of the total. The Grade A contribution to the cumulative stock is still estimated at around 53 percent due the much larger scale of these buildings.

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A high level investigation has been instigated by the government to ascertain corrupt practices and administrative blunders if there are any in the Sri Lankan Airlines A-330 air craft dry lease to the Pakistan International Airlines (PIA) in August last year and their lease of three A330-200 aircraft from an international firm in 2010, official sources said .

Thursday, 30 March 2017 09:42

Bill to boost SOEs ready

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  • Minister Kabir Hashim calls for national consensus for SOE transformation 
  • Revenue of top 10 SOEs accounts for half of all 295 listed companies on CSE

The Bill to boost state-owned enterprises (SOEs) that are loss-making and burdening the public is being studied by the legal draftsman, a top Minister revealed yesterday.

Thursday, 30 March 2017 09:40

Tourism Vision 2025 to be out in April

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  • Rs. 100 m first-ever digital campaign ready for launch in July focusing on Western Europe
  • Awaiting TRO to be sorted to call on bids for digital campaign
  • Ministry Secy. insists on digital marketing as a key promotional tool to attract modern-day tourists

By Charumini de Silva

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