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Sri Lanka has been promoting eco tourism under a tourism promotional plan for 2016, with the participation of private and public sector stakeholders.

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The Sri Lankan Government has planned to set up a separate fund to implement the Western Region Megapolis Project (WRMP) with an impressive investment of US$ 44 billion.

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Despite the Prime Minister’s directive to postpone the importation of vehicles for Ministers, Deputy Ministers and state Ministers for at least three months, Super luxury vehicles ordered by the Treasury for Ministers, Deputy Ministers and state Ministers are arriving at the Hambantota Port, official sources revealed.

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The Committee on Public Enterprise will be releasing its report on the Central Bank (CB) bond issue soon, a member of the COPE committee said.

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The often repeated pun on the IMF’s acronymsatirically suggests that it prescribesa tighter fiscal policy, whatever an economy’s problem might be. Indeed, lower budget deficits and higher government revenues are central to Sri Lanka’s latest US$ 1.5 billion loan from the IMF. But, the economy’sbooms and busts of recent years – including the current economic distress – go beyond merely the fiscal; much of it has manifested in the monetary and exchange rate policy spheres. It is hard,however, to get away from the argument that all roads lead back to the fiscal quandary; the frequent devaluation of the rupee for example, is a reflection in the monetary sphere of fundamental imbalances in the real economy – production, consumption, and investment. And fiscal policy is where the adjustments begin.

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Investigations into the disappearance of a massive sum of Rs.3 billion from the Ceylon Electricity Board (CEB) Employees Provident Fund by investing in a private company are to be expedited.

Saturday, 09 July 2016 09:07

The all-new BMW 7 Series.

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Driving pleasure, luxury and comfort redefined.

THE ALL NEW BMW 7 SERIES UNVEILS SHEER DRIVING LUXURY
• “Probably the best car ever built by BMW”: Heinz Reuter, Chairman/MD, Prestige Automobile
• Most Innovative Car at World Luxury Car Awards 2016
• Premieres in Colombo with unique technology and pioneering breakthroughs

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The Cabinet of Ministers will meet next Tuesday July 12 to decide on the prices of essential goods-and VAT will not be added to these items, said the Minister of Industry and Commerce Rishad Bathiudeen on 8 July in Parliament.

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Ceylon Hotels Corporation Plc’s Board has decided to reduce the stated capital of company to write off Rs. 1.02 billion of carried forward losses.

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Minister of Finance Ravi Karunanayake says despite the negative impact Brexit, UK’s departure from the European Union, has on the world, Sri Lanka has seen a benefit with an upward movement in foreign reserves.

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