Business News (242)
Forest Conservation Department to take stern action against knuckles trespassers
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The Department of Forest Conservation said that strict action will be taken against people who enter the Knuckles Reserve without permission.
Central Bank maintains key policy rates unchanged well anchoring inflation
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The Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) at their current levels of 8.50 per cent and 9.50 per cent, respectively.
Sampath Bank Launches Innovative Mini-POS Solution, Empowering SMEs
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Responding to the increasing demand for digital payment solutions within the small and medium-sized enterprise (SME) sector, Sampath Bank is the first bank in Sri Lanka is set to launch a MiniPOS device.
Social security benefits to be introduced for all workers over 55 years
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Social security benefits will be extended to all workers aged 55 and above across vaious industries Labour and Foreign Employment Minister Manusha Nanayakkara announced revealing that that the Cabinet has approved a proposal to provide those benefits.
Two state owned fertilizer companies to be merged introducing staff retirement scheme
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A compulsory retirement scheme is set to be implemented in connection with the amalgamation of the Ceylon Fertilizer Company Limited and the Colombo Commercial Fertilizer Company Limited.
Central Bank maintains policy Interest rates at their current levels
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The Central Bank of Sri Lanka has decided to maintain policy interest rates at their current levels. Accordingly It will maintain Standing Deposit Facility Rate (SDFR) - 8.50% ,Standing Lending Facility Rate (SLFR) - 9.50% and Statutory Reserve Ratio (SRR) - 2.00% levels.
The railway service in the country is currently in a critical situation, and efficient train usage requires significant investments, Cabinet Spokesman and Transport Minister Bandula Gunawardana said.
Planters’ Association strongly opposes wage hike for plantation sector workers
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The plantation industry raised its strongest possible objections to the Government's arbitrary, reckless, unilateral decision to drastically hike minimum wages for tea and rubber sector workers by an unprecedented 70%.
Sri Lanka hopes to work closer with Saudi Arabia in tourism, labor and renewable energy sectors to support the Kingdom’s Vision 2030, the island nation’s new ambassador told Arab News as he assumed his post in Riyadh on Monday.
State Minister of Finance Ranjith Siyambalapitiya announced that preliminary work to modernise the Customs Department auction process will commence via online this week.
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Sri Lanka to host foreign artistes, Sigiriya fashion show to promote tourism
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Sri Lanka plans to bring down international artistes, and hold water festivals to boost tourists, Sri Lanka Tourism Promotion Bureau Chairman, Chalaka Gajabahu said.
Sri Lanka Customs reward funds raise financial misappropriation issues
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The Sri Lanka Customs has said that it cannot locate the finance minister’s authorisation, issued many decades ago, for the distribution of contentious reward funds among officials and informants in accordance with Section 153(2)(b) of the Customs Ordinance No.17 of 1869.
New Technology Promotion Act to replace ICTA with Digital Transformation Agency
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The Information and Communication Technology Agency of Sri Lanka (ICTA) will be replaced by Digital Transformation Agency in accordance with the new Technology Promotion Act., the State Minister of Technology Kanaka Herath reveals.
Sri Lanka’s Micro, Small and Medium Enterprises (MSMEs) hit by the economic downturn will receive a new impetus with the introduction of a Rs. 5 billion new loan relief package as proposed in the budget 2024, Finance Ministry sources confirmed.