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Jaffna International Trade Fair inaugurated

The ninth edition of Jaffna International Trade Fair was inaugurated today. Minister Daya Gamage, state minister Vijayakala Maheswaran, north chief minister C.V. Vigneswaran, state officials and Indian diplomatic officials attended. The trade fair is taking place at the Jaffna public stadium. Speaking at its inauguration, minister Gamage said this would …

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Sri Lankan rupee firmer on bank, exporter dollar sales

The Sri Lankan rupee ended firmer on Thursday, further moving away from a record low hit earlier this week, as banks and exporters sold dollars, dealers said. The spot rupee ended at 153.70/80 per dollar, compared with Wednesday’s close of 153.75/85. On Tuesday, the rupee hit a record intraday low …

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SL’s first modern FTA with Singapore inked

A Free Trade Agreement (FTA) between Singapore and Sri Lanka, which contains one of the most liberal rules of origin, giving greater access to each others markets , was signed in Colombo yesterday, following a comparatively short period of negotiations.   This is in addition to the Avoidance of Double …

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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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