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HEADLINES - 10th August 2018


CCC to host first public seminar on Trade Information Portal – Ceylon Today

The Ceylon Chamber of Commerce will hold a seminar on Sri Lanka’s Trade Information Portal (TIP) on Thursday, 16 August 2018 from 02.30pm–4.30pm at the Chamber auditorium, a press release stated. The seminar, being the first public forum on TIP, intends to raise awareness on the key features of TIP and discuss how the private sector could benefit from key trade information published in this interactive site.


Govt allocates Rs 1 bn for tea replanting – Daily News

The Government will offer a Rs. 1 billion tea replanting subsidy this year to increase the area under tea cultivation. The area under tea cultivation is stagnant and shrinking. Replanting is essential for increasing and remaining competitive, Minister of Plantation Industries Navin Dissanayake said that in an interview with ‘Daily News Business’.


More buses to minimise public inconvenience – Daily News

Transport and Civil Aviation Ministry sources yesterday said that a number of measures have been taken to minimise the inconvenience faced by the railway commuters due to sudden wild cat strike action launched by the Sri Lanka Railway Department trade unions. All leave of Sri Lanka Transport Board employees has been cancelled and a fleet of over 500 buses which were deployed for the transport of schoolchildren would be in operation.


Mangala pledges to resolve salary anomalies within 3 months – Daily Mirror

Finance Minister Mangala Samaraweera today requested railway employees to stop the strike and come for discussions and ensured to resolve their salary anomalies within three months.


VAT exemptions bill passed – Daily News

The Value Added Tax (Amendment) Bill presented by Finance and Mass Minister Mangala Samaraweera to exempt private hospital channelling services and several other selected items from VAT was passed in Parliament yesterday.


Rs. 650,000 each for a councillor’s chair at WPC – Daily Mirror

Some 104 chairs, each costing Rs 650,000, had been reportedly ordered from abroad for the chamber of the new Western Provincial Council building, JVP Western Provincial Councillor Lakshman Nipuna Arachchi said.


Labour force participation rate, a wake-up call for policymakers – The Island

The Sri Lankan Labour Force Participation Rate (LFPRs) released by the Department of Census and Statistics shows that the lowest LFPR, since 2013, was reported in the first quarter of 2018. Quarterly figures show LFPR in Q1 2016 was 54.1 million, by both genders all-island, which crept up to 54.7 million in Q1 2017. However, causing concern to policymakers, this number has dwindled to just 52 million in Q1 2018.


Water tariff hike in the pipeline – The Island

There would be an imminent hike in water tariff, Parliament was told yesterday. City Planning and Water Supply State Minister Lucky Jayawardena told Parliament that there would be a revision to the water tariff soon.


Grid can’t cater to 200,000 electric cars Solar powered cars preferred – Moratuwa UC Chair – Ceylon Today

If electricity powered cars from the grid exceed 200,000 it will hit the electricity supply affecting the ordinary consumer, warned Sri Lanka Podujana Peramuna Member and Moratuwa Urban Council (UC) Chairman, Samanlal Fernando yesterday (9).


Essential Medicines : Price reduction results in Rs.4.4 billion benefit to patients - Rajitha – The Island

Health Minister Rajitha Senaratne  said yesterday that a reduction in the prices of 48 essential medicines, had  resulted in a total benefit of Rs.4.4 billion to the community of patients.


Hambantota port control to revert to Sri Lanka after 80-years for one dollar – EconomyNext

Sri Lanka can will regain a majority stake in the terminal company at Hambantota port from China after 80-years for one dollar and the port will pay standard royalties on containers and bulk cargo after 25-years, details tabled in parliament showed.


Airbnb ties knot with Sri Lanka Tourism – Daily News

The world’s largest community driven hospitality platform, Airbnb yesterday entered into a strategic partnership with Sri Lanka Tourism Development Authority (SLTDA) to bring more travellers to Sri Lanka by launching over 40 bookable experiences across Sri Lanka, designed and led by locals. Through this Asia-first partnership, Airbnb and SLTDA will work together to take local experience of hosts onto the Airbnb platform and help local people from across Sri Lanka share their passion and interests with travelers from around the world.


US Peace Corps to return to Sri Lanka – Daily News

The United States and Sri Lanka have renewed an agreement to re-establish a Peace Corps programme in Sri Lanka through the signing of a Memorandum of Understanding at the Education Ministry yesterday.


Sri Lanka stock market depository offers digital share accounts, IPOs – EconomyNext

Sri Lanka’s stock market depository and settlement service provider said it would offer digital account opening options, removing paperwork for investors,  along with electronic share issues and voting for shareholders.


Sri Lankan listed firms told to pay dividends directly to shareholder bank accounts – EconomyNext

Sri Lanka’s stock exchange has told listed companies to pay dividends directly to bank accounts of shareholders after complaints of payment delays. The Colombo Stock Exchange (CSE) said it has got several complaints from shareholders that they had not got dividends within the stipulated time.


Sri Lankan stocks close up, foreign buying in Ceylinco Insurance – EconomyNext

Sri Lankan closed higher Wednesday with turnover propped up by block deals as foreign investors bought into Ceylinco Insurance while there was continued foreign selling in John Keells holdings (JKH), brokers said.


Sri Lankan Treasuries yields fall across maturities – EconomyNext

Sri Lankan Treasury Bill yields fell further at an auction Wednesday with the 01-year bill yield falling 07 basis points to 9.16 percent from last week, data from the Public Debt Department of the central bank showed. It raised 12.9 billion rupees from 01-year bills, slightly more than what was offered, after getting bids worth almost 63 billion rupees.


Rupee edges down on importer dollar demand – Daily Mirror

(Colombo) REUTERS: The Sri Lankan rupee closed marginally weaker yesterday on importer dollar demand, while dealers expect the local currency to stabilise around the current level in the short term.


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