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Sri Lanka and Singapore sign Free Trade Agreement

The Government of Sri Lanka today signed a Free Trade Agreement (FTA) with Singapore at the Presidential Secretariat in Colombo. The Free Trade Agreement will boost the trade between the two countries as this would facilitate duty free access to selected goods and services of each other, the President’s Media …

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Debt burden brought down

Prime Minister Ranil Wickremesinghe has pointed out that the huge debt burden inherited from former President Mahinda Rajapaksa has been reduced to a manageable level.   The Prime Minster said, on Sunday, that it had taken over two years to lay the foundation for economic development as the Rajapaksa regime …

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Bulk sale of kerosene banned

Following a large scale racket where diesel was mixed with kerosene, the Ceylon Petroleum Corporation has issued a circular banning the sale of kerosene wholesale from yesterday.   The circular (No. 987) has been issued by Chairman CPC Dhammika Ranatunga and sent to all Ceypetco distributors.

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Nationwide inflation declines to 7.3 percent in December 2017

Sri Lanka’s nationwide inflation in December 2017 determined under the National Consumer Price Index (NCPI) declined to 7.3 percent from 8.4 percent recorded in November on an year-on-year basis, the Department of Census and Statistics reported Monday. The NCPI for all items for the month of December 2017 increased marginally …

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Sri Lanka achieves record exports in 2017

Sri Lankan merchandise exports grew to an all time record of over US$11.4bn in 2017, surpassing the previous high of US$11.1bn achieved in 2014.   Once, again the EU and the USA were our biggest markets taking ~US$3bn each. The sectors showing particularly strong year-on-year growth were tea ~20% and …

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Seat belts, air bags compulsory on vehicles from July 1- FM

The Ministry of Finance and Mass Media has decided to postpone the implementation of the budget proposal on introduction of emission standards and safety measures from 1st July, 2018, the Government Information Department said. The Ministry has taken this decision after considering the representations made by motor vehicle importers and …

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