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Saturday, 18 June 2016 08:05

Huge victory for Lanka, says envoy

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The lifting of the EU ban for fish exports is a huge victory for Sri Lanka which would help boost fish processing activities and exports, household incomes and overall economic activity, European Union Ambassador to Sri Lanka David Daly said yesterday.

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Mini hydro projects on state forest reservation are the cause of environmental degradation, experts say.

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In an unprecedented development in Sri Lanka’s bilateral trade history, Africa’s third largest oil producer opened its prized petroleum exploration doors wide to Sri Lanka on 14 June-and this offer, if accepted, shall turn Sri Lanka’s national energy picture on its head.

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The TJL Group (TJ), part of the Brandix Group in Knit Fabric manufacturing expressed optimism about the GSP+, a preferential tariff system for garment exports.

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The establishment of the Sri Lanka-German Training Institute (SLGTI), a landmark project initiated by German Development Cooperation (GIZ) in partnership with the Government of Sri Lanka, was announced at a press conference attended by Hon MahindaSamarasinghe, Minister of Skills Development and Vocational Training and HE Dr.JuergenMorhard, Ambassador of the Federal Republic of Germany to Sri Lanka and the Maldives. The SLGTI, situated in Kilinochchi, is scheduled to be officially opened on 18 July by HE President MaithripalaSirisena.

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The world’s smallest PC –ASUS VivoStick PC has been introduced to the local market via its agents EPSI Technology Ltd.

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The European Union (EU) has completely lifted the ban on fisheries exports from Sri Lanka, the Government Information Department said yesterday.Sri Lanka was one of the biggest exporters to the EU of high value fishery products such as fresh and chilled swordfish, tuna and tuna-like species.

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President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe are to meet civil society representatives today to discuss the future of Central Bank Governor Arjuna Mahendran.

Thursday, 16 June 2016 08:45

Cabinet cheers capital gains tax!

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The Cabinet has approved a proposal submitted by Prime Minister Ranil Wickremesinghe to draft a new Capital Gains tax regime with technical assistance from the International Monetary Fund (IMF).

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Disgruntled bankers yesterday slammed Finance Minister Ravi Karunanayake’s proposal to set an upper limit of Rs.10 million on them if engaging in leasing business, though the move has been welcomed by specialist firms. Some of the disappointment of bankers had been conveyed during a meeting held earlier this week between heads of banks and the Finance Minister, who also met the Non-Bank Financial Institutions (NBFIs), which are considered specialists in leasing, separately on the same day.

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