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Agreement on Hambantota Port

Agreement on Hambantota Port

After many hiccups and protracted negotiations, China and Sri Lanka have reached an agreement on the US$ 1.4 billion Hambantota port in southern Sri Lanka. According to reliable sources, the Sri Lankan cabinet will take up the agreement on Tuesday and once it gets cabinet …

The new Constitution

The new Constitution

Speaking at a book launch last week, Prime Minister Ranil Wickremesinghe said the draft of Sri Lanka’s new Constitution would be ready by January 2018, yet again shifting the deadline for the challenging task his government took up after coming to power in 2015. As …

New Tax Bill aims to widen tax net, cut indirect taxes

New Tax Bill aims to widen tax net, cut indirect taxes

Sri Lanka’s new tax bill, demanded by the IMF as a condition for a third tranche of aid disbursed this week, will seek to ensure that all citizens pay direct taxes and cut indirect taxes, top finance ministry officials said on Friday. The new Inland …

Shares post 1-month closing low

Shares post 1-month closing low

Sri Lankan shares fell for an eighth session in nine in thin trade on Friday and posted a more than one-month closing low, with blue chips leading the losers. The Colombo stock index ended 0.22 percent lower at 6,669.51, its lowest close since June 14, …

An important step for Sri Lankans

An important step for Sri Lankans

United Nations Secretary-General António Guterres today congratulated the Sri Lankan Government for setting up an Office of Missing Persons (OMP), “an important step for all Sri Lankans who are still looking for the truth about their loved ones.” “The United Nations stands ready to support …

UN official in Sri Lanka for talks

UN official in Sri Lanka for talks

UN Under Secretary General for Political Affairs, Jeffrey Feltman arrived in Sri Lanka on a three day visit on Wednesday to hold talks with Sri Lankan leaders on the peace building process, the UN office in Colombo said in a statement. Feltman arrived in Sri …

IMF approves US167.2 million to Sri Lanka

IMF approves US167.2 million to Sri Lanka

The Executive Board of the International Monetary Fund (IMF), on Tuesday, completed its second review of Sri Lanka’s Extended Fund Facility (EFF) arrangement, which enables the disbursement of about US167.2 million dollars to the island country, a statement released by IMF said here. The second …

Talks on FTA with China progressing

Talks on FTA with China progressing

Sri Lanka, on Sunday said talks on a proposed Free Trade Agreement (FTA) with China were progressing smoothly and both countries hoped to sign the agreement soon. Commerce and Industry Minister, Rishard Bathiudeen said Sri Lanka had to date held six sessions of discussions with …

Implement Geneva resolution or face consequences

Implement Geneva resolution or face consequences

Alleging that ‘retrograde elements in the security establishment and their allies’ in the government were trying to undermine post-war reconciliation process, the UN yesterday warned Sri Lanka of dire consequences unless the government fully implemented Geneva Resolution 30/1 co-sponsored by the Sirisena-Wickremesinghe administration in Oct …

UN report wants an end to involvement in commercial or civilian activities

UN report wants an end to involvement in commercial or civilian activities

The UN Committee on the Economic, Social and Cultural Rights has published its findings on the countries it examined during its latest session, held from 29 May to 23 June 2017, in Geneva:  Australia, Uruguay, The Netherlands, Liechtenstein, Sri Lanka and Pakistan. The UN committee …