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SL, India to boost trade, investment amidst COVID-19 challenges

Indian Prime Minister Narendra ModiPrime Minister Mahinda Rajapaksa  Modi, Rajapaksa hold virtual summit to discuss bilateral relations, regional and international issues of mutual concern Pledge strong commitment towards mutually beneficial development cooperation partnership India assures continued commitment to support SL to minimise health and economic impact of … [Read more...] about SL, India to boost trade, investment amidst COVID-19 challenges

‘Sri Lanka@100’ platform debuts to boost economic prosperity through growth of mid-sized firms

The official launch of the Sri Lanka@100 platform. From left: USAID Mission Director Reed J. Aeschliman, SL@100 CoFounder and Stax MD Dr. Kumudu Gunasekera, SL@100 Co-Founder and Stax MD Ruwindhu Peiris, State Minister of Regional Cooperation Tharaka Balasuriya, and U.S. Ambassador to Sri Lanka and the Maldives Alaina B. Teplitz – Pic by Lasantha KumaraSri Lanka@100, a … [Read more...] about ‘Sri Lanka@100’ platform debuts to boost economic prosperity through growth of mid-sized firms

President-led first Export Development Council kicks off new initiatives

After 28 years Exports Development Council convenes under the patronage of the President President says many signed trade agreements not favourable for SL, stresses need to review expeditiously to be beneficial to the economy Removes para tariffs on industrial raw materials to make exports more competitive Introduces Export Reward Scheme from 1 October to 31 March 2021 to … [Read more...] about President-led first Export Development Council kicks off new initiatives

Cabinet approves forex-risk-free foreign investments in Govt. bonds

Central Bank  Special benefit only if investments are held to maturity; any sale before maturity will incur penalty though enjoying same exchange rate at the time of buying Minimum investment set at $ 25 m and maximum at $ 1 b Any exchange loss due to depreciation will be set-off by Central Bank when transferring profits to Treasury  Foreign investments in Government … [Read more...] about Cabinet approves forex-risk-free foreign investments in Govt. bonds

20A to Parliament today with Govt. MPs’ backing

 President briefs Cabinet and Govt. Group ahead of 20A Bill tabling in Parliament today by Justice Minister Ali Sabry Says 20A interim measure until new Constitution introduced First Bill to be tabled in House by new Govt. By Chandani Kirinde President Gotabaya Rajapaksa yesterday won unanimous backing for the 20th Amendment to the Constitution from both Cabinet as well as … [Read more...] about 20A to Parliament today with Govt. MPs’ backing

Politics of MR’s cow slaughter ban

In spite of MR’s denial there is no doubt that the ban will affect the Muslim community directly. Majority of the country’s beef eaters and beef suppliers are Muslims, and thousands will be thrown out of employment when the ban comes into effect – Pic by Shehan Gunasekara Prime Minister MR’s announcement to ban cow slaughter is yet another measure to please Sinhala Buddhist … [Read more...] about Politics of MR’s cow slaughter ban

Investments on the rise: BOI

  Says agreements worth $ 1.5 b signed in the first nine months; 2020 target is $ 2-2.5 b  The Board of Investment (BOI) says agreements to the value of $ 1.5 billion have been approved in the first nine months of this year from the 2020 targeted figure of $ 2-2.5 billion. BOI Director General Sanjaya Mohottala BOI Director General Sanjaya Mohottala said of the value … [Read more...] about Investments on the rise: BOI