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11 ministries get secretaries over 60 years of age

Secretaries who have retired and are over the age of 60 have been appointed to 11 ministries. Ports and Aviation Ministry Secretary K.V.P.R. de Silva, Resettlement Ministry Secretary M.B. Dissanayake, Youth Affairs Ministry Secretary S.S. Hewapathirana, Public Administration Ministry Secretary D. Dissanayake, Cabinet Ministers’ Office Secretary S. Abeysinghe, Presidential Secretary S.C. Weeratunge, Media Ministry Secretary W.B. Ganegala, Sports Ministry Secretary S. Liyanagama, Education Ministry Secretary S.S. Sirisena, Cultural and National Heritage Ministry Secretary Wimal Rubasinghe and Labor Ministry Secretary M. Madihahewa are secretaries who are over 60 years of age.

SL Tourism Spent Rs.222.3 Million, Free Rooms, Air Ticket &VVIP Treatment For Participants To Hold IIFA In Sri Lanka

It has been revealed that besides the colossal money spent by the government for having IIFA in Sri Lanka, Rs 222.3 million (US $ 1,950,000) has been spent by the Sri Lanka Tourism Promotion Bureau (SLTPB) and had agreed to provide a host of other concessions including more than 2,600 free rooms and Customs waivers for the Indian International Film Awards (IIFA) ceremony held in Colombo. All meals for those sharing the suites and rooms were provided free after the menu was decided upon by the board in consultation with the franchise holder....
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Apply afresh next year for GSP + concession –EU

According to reports from the European High Commission sources, a fresh application has to be made to obtain the GSP + concession for next year....
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Epic Wins Excellence Award at ASPAC 2010

Verifone Inc. the world leader in secure payment devices conducted the ASPAC Customer & Partner Forum 2010 in Taipei, Taiwan from June 8-10, 2010. This event featured a program to provide excellent opportunity for stakeholders to meet with and network with other partners across the region, as well as to listen to industry and technology leaders. Epic Lanka was awarded the Verifone Circle of Excellence Award in recognition of their innovative technology solutions....
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Inflation Rising In Sri Lanka – World Bank Report

World Bank in a report states Sri Lanka must reduce high budget deficits and public debt. It states South Asia's fiscal deficit, including that of Sri Lanka’s, is the highest of all regions and public debt at 60 percent of Gross Domestic Product might prompt investors to penalize the region like they did to European countries like Greece....
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New SLIM Ex-Co drives marketing to enhance business and national value.

The Sri Lanka Institute of Marketing’s new President and Executive Committee have actively launched their tenure of office with a new and vibrant theme – ‘We believe, We achieve, We win’, with a view to enhance the image of SLIM further among the business fraternity by adding value to the service being provided by the institute....
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Fitch Affirms John Keells Holdings at 'AAA(lka)'; Outlook Stable

Fitch Ratings has today affirmed Sri Lanka's John Keells Holdings PLC's (JKH) National Long-term rating at 'AAA(lka)', as well as its senior unsecured notes at 'AAA(lka)'. The Outlook remains Stable....
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Vehicle taxes reduced due to a Benz deal of the Rajapaksa family

The government’s decision to reduce taxes on imported vehicles by 50% has been due to a plan to import 500 Benz cars by a young parliamentarian in the Rajapaksa family. ...
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Taxes on vehicles reduced to help a Nil Balakaya member

A senior Finance Ministry official told Lanka News Web that the government’s sudden decision to reduce the import tax on vehicles by 50% was to provide financial assistance to a leading figure in Namal Rajapaksa’s Nil Balakaya. ...
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Janashakthi speedily expedites flood-related claims

Janashakthi Insurance announced that it has received over 400 flood related claims so far since the onslaught of the torrential rains. The total amounts to approximately Rs. 150 Mn. ...
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Economists visiting Sri shocked by Wimal’s actions

Finance Minister and Economic Development Ministry Secretary Dr. P.B. Jayasundera has informed Economic Development Minister Basil Rajapaksa that economists representing international organizations who have arrived in the country to explore the possibilities of granting aid to the country, have been shocked a petrified by NFF Leader and Wimal Weerawansa’s protest outside the UN launched on the 6th, sources from the Finance Ministry said.

New BOI project for economic development in Information Technology sector

The IT/BPO industry in Sri Lanka is witnessing tremendous growth due to the expansion of the global BPO industry. This is further supplemented with the availability of a highly skilled talent pool at a competitive cost to cater to the needs of the industry. Domestic IT adoption is also increasing significantly, driven by the awareness created by the initiatives taken to build IT capacity and competence in rural areas of Sri Lanka. The growth of telecom penetration, increasing use of IT and strong focus on ICT education in schools has also encouraged this growth. The use of technology and outsourcing as a means to reduce cost will continue to drive the growth of IT/BPO sector in Sri Lanka.

Jet awaits govt nod to launch more flights to Colombo

Jet Airways has so far not got official permission to launch additional flights to Colombo, four months after it applied, an airline official said.

The US GSP also at stake

The US government has decided to review the GSP facility extended to 3,400 Sri Lanka exports to the country.

STOP LABOUR RIGHTS VIOLATIONS IN THE APPAREL SECTOR AND COMPLY WITH ILO STANDARDS TO PROTECT US GSP

The US government has accepted a petition to review the US GSP status enjoyed by Sri Lanka.

New BOI projects reflect growing importance of tourism sector in economic development of Sri Lanka.

The Board of Investment promotional strategy will focus mainly on 5 areas during the next five years, which include dairies, tourism and leisure, education, IT/BPO and urban infrastructure development. Since the Tourism sector has the potential of becoming a major contributor in the economic development of the country, the government aims at building up this industry so that it may offer a world standard product.

Fitch Downgrades Sinhaputhra Finance PLC to 'B(lka)'

Fitch Ratings Lanka has today downgraded Sinhaputhra Finance PLC's (SFL) National Long-term rating to 'B(lka)' from 'BB-(lka)'. The Outlook is Negative. Although liquidity pressure faced by the company has waned, Fitch notes the significant increase in the regulatory six-month NPLs and consequent deterioration in the net NPL/equity ratio, and depressed profitability.

FITIS offers ICT Partnership Opportunities

The Federation of IT Industry Sri Lanka popularly known as FITIS offers its members a unique opportunity to create ICT partnerships. In finding new regional partners ICT companies can now join the business exchange and multilateral trade visit programs they offer through their regional body ASSOCIO.

Tri-Star Apparel provides jobs for 400 rehabilitated ex-LTTE cadres

400 ex-LTTE female cadres who received vocational training in rehabilitation centres have received jobs at the Tri-Star Apparel Factory in Alawwa.

GSP Plus benefit will not be extented unconditionaly

The Delegation of the European Union to the Democratic Socialist Republic of Sri Lanka & the Maldives would like to clarify information which has appeared in several press articles related to the ongoing dialogue on GSP plus between the European Commission and the Government of Sri Lanka.
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