26 February 2017
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A Costly Sale For EPF

epfThe sale of up to 71 million ordinary shares of John Keells Holdings PLC (JKH) held by the Employees Provident Fund (EPF), in March, 2012, during the period of former Central Bank Governor Ajith Nivard Cabraal, has deprived the Fund from earning billions of rupees in financial gains, The Sunday Leader learned. EPF had puchased a state of JKH in 2012 and 2013 at prices ranging between Rs. 240 and Rs. 320 per share. It is learnt that around 71 million shares were bought at over Rs. 300 per share.

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Fix cigarette taxes so over 75% of the retail price as recommended by WHO in SL

smokingOver the past 60 years smoking rates have plummeted in Britain, America, Australia and other countries that have cracked down on the habit. But in some others they have changed little, and in nearly 40 countries the number of smokers is actually increasing.

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Historic deflation as July consumer prices fall for first time

graphSri Lanka posted its first fall in consumer prices in July due to lower electricity, kerosene and transportation costs, but the Finance Minister does not see it paving the way for lower interest rates.

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The Plight of the Senior Citizens not resolved as yet.

eldersIn March this year there was a big clamour regarding the plight of the Senior Citizens’ Fixed Deposit Schemes.

When the restriction of the maximum Deposit of Rs. One Million for a 15% rate per Annum was declared there was a hue and cry and persistent outcry from many people. There was a proposition that Senior Citizens’ Deposits will not be limited to the Rs. One Million Restriction, the people were very happy, eagerly awaiting the directive from the Government . But it is over Four Months since the proposition was made and looks like it has died a natural death.

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New pub-restaurant opens at Rathnapura

New state of the art pub restaurent opened at Rathnapura.

The address is 

35, Colombo Road, Malangama, Ratnapura.
(in between Ratnapura & Kuruwita)

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Top 16 global ad agencies express interests to promote SL Tourism

sl tourismSixteen top international advertising firms have expressed their interest to promote Sri Lanka Tourism in the upcoming first-ever global destination marketing campaign. Read more...

SL explores partnership with MCC in US

us washingtonIn a meeting with the Chief Executive Officer of the U.S. Millennium Challenge Corporation (MCC) Dana J. Hyde, Sri Lanka’s Ambassador Prasad Kariyawasam emphasized the desire of the Government to establish a partnership with the United States under the Millennium Challenge Corporation. Read more...

Muthukaruppan Chettiar launches new flagship store

muthukaruppan01Premier jewellers - Pl Mtt Muthukaruppan Chettiar Jewellers passed another milestone in their journey after launching their new flagship store today (16).
 
The 03-storey flagship store is located at No. 36, Sea Street, Col. 11. A host of guests including artistes attended the launch.
 
The company notes that it does not have any branches or flagship stores anywhere except in Colombo.
 
Pl Mtt Muthukaruppan Chettiar Jewellers has been much popular in the local market as a premier jeweller since their inception in 1937. 
 
The company notes that wedding couples who have chosen them as their wedding jeweller will be granted the opportunity to air a videoclip of their special day on the programme 'Wedding' which is telecast every Saturday at 4.30pm on Swarnawahini. The opportunity will be granted free of charge.
 
(Pics : Roshan Chathuranga)
 
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SL pages (UK) Ltd is launching a community directory in United Kingdom

sl ukThe United Kingdom is the world’s sixth largest economy. UK has come out of the recession with blooming success and in record breaking speed. Having mentioned that, I would like to underpin the contribution of ‘British Sri Lankan’ contribution in all the sectors. SL Pages (UK) LTD is initiated a plan to serve the Sri Lankan community which is increasing annually. Read more...

Government acquired 68 billion loans for the 100 days

sl logoDuring the first quarter of this year the government has acquired a sum of Rs. 68 billion in loans.

According to the hierarchy of the Central Bank this is a significant increase of percentage when comparing to the first quarter of the last year. Read more...

CPC incurs loss of Rs. 5bn from January to April

cpcCPC's total cost of petroleum imports during the first four months of the year was around Rs. 90 billion.

The Ceylon Petroleum Corporation, reported a loss of 5 billion rupees by the end of April 2015 despite the oil price reduction of the world market, state statistics report showed. Read more...

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