Friday , January 24 2020
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Sri Lanka

Sri Lankan importers reject claims on milk powder from New Zealand

(MENAFN – Colombo Gazette) Fonterra Brands Sri Lanka, Maliban Milk Products and Diamond Milk Products are deeply concerned about claims by the Government Medical Officers Association (GMOA), that imported milk powder from New Zealand is harmful for consumption and reiterated the need to separate fact from fiction to prevent causing unnecessary panic and fear among the Sri Lankan public. The ... Read More »

President requests Japan to invest in high tech assembly plants in Sri Lanka

Measures will be taken to further strengthen long-standing bilateral relations between Japan and Sri Lanka, Japanese State Minister for Regional Revitalization Kozo Yamamoto said. Minister Yamamoto made these remarks when he paid a courtesy call on President Gotabaya Rajapaksa at the Presidential Secretariat today (13). Sri Lanka is secured and stable under the current government. The economy is also progressing. ... Read More »

Global med-tech majors seek custom duty cut to prevent smuggling of medical devices

Medical Technology Association of India (MTaI), an industry group that represents global medical technology majors, has sought to reduce the difference between the custom duties on high tech medical equipment levied by India and neighbouring countries to avoid possibility of smuggling of low volume, high value devices into the country. The association said India’s high customs duties have not only ... Read More »

New inclusions & exclusions of MBSL MIDCAP Index 2020 announced

New inclusions and exclusions of the MBSL MIDCAP Index 2020 have been announced. Accordingly, HNB Assurance, Sanasa Development Bank, Union Assurance, Commercial Bank, Dunamis Capital, Expolanka Holdings, Odel, Singer (Sri Lanka), Access Engineering and Ril Property have been excluded from the index. Seylan Bank, Pan Asia Banking Corp, First Capital Holdings, Asiri Hospital Holdings, Overseas Realty (Ceylon), ACL Cabels, Alumex, ... Read More »

Singapore’s Perennial to launch USD250mn mixed development project in Sri Lanka

Integrated real estate and healthcare company headquartered and listed in Singapore, Perennial Real Estate Holdings Limited is to launch a 250 million dollar mixed development project in Sri Lanka shortly. This foreign investment project will see the construction of a 30-storey commercial tower inclusive of 700 new residencies and have facilities for retail and food outlets. This investment will be ... Read More »

Master plan for Sri Lanka’s Hambantota Port on the horizon, says HIPS CEO

COLOMBO,:A master plan for developing industries around Sri Lanka’s southern Hambantota Port is on the horizon, says Ravindra Jayawickrema, CEO of Hambantota International Port Services (HIPS) which is a subsidiary of port operator Hambantota International Ports Group (HIPG). Jayawickrema told Xinhua in an interview that a master plan for industries, undertaken by an international group of companies who are competent ... Read More »

Gov’t simplifies procedures for EU-bound goods

THE GOVERNMENT has moved to simplify procedures for Philippine exporters to the European Union (EU), as the Bureau of Customs (BoC) released guidelines for self-certification of origin in order to avail of lower tariffs under the EU’s Generalized System of Preferences (GSP). In Customs Memorandum Order No. 50-2019, the BoC said the guidelines would simplify export processes by allowing exporters ... Read More »

Sri Lanka records 2.7-pct growth in third quarter of 2019

Sri Lanka’s national accounts estimates of the third quarter still reflect the impact of ‘Easter Sunday Attack’ especially in some services sector related economic activities, the statistics office said. When compared to the third quarter of 2018, the ‘Accommodation, food and beverage service activities’ even in this quarter have contracted substantially showing the negative impact of the Easter Sunday attack. ... Read More »

Notes from Sri Lanka: A lesson in coconuts

Think of coconut, and what comes to mind? Perhaps dried coconut, used in desserts like macaroons, or cans of creamy coconut milk, a perfect addition to spicy curries. If you’ve traveled to a tropical country, maybe you think of fresh green coconuts, the ultimate in refreshing beverages. But there’s so much more that coconut can do, as I’ve learned while ... Read More »

Sri Lanka elected Chair of Biological Weapons Convention Meet

The Meeting of States Parties (MSP) to the Convention on Biological Weapons, which concluded its four-day session in Geneva today unanimously endorsed Sri Lanka as the Chair of the Meeting of States Parties to be held in 2020. Sri Lanka’s Permanent Representative to the UN in Geneva Ambassador A.L.A. Azeez takes over the Chairmanship of the 2020 States Parties’ Meeting ... Read More »

Sri Lanka bans import of spices, minor export crops for re-export

Sri Lanka’s Finance Ministry has prohibited the importation of spices and minor export crops for the purpose of re-export or re-export after minor processing. The Finance Ministry said in a statement that this restriction has been imposed as a measure to protect small export crop growers and SMEs. Accordingly, the importation of pepper, tamarind, cinnamon, nutmeg, peas, cardamom, ginger, and ... Read More »

Sri Lanka, China agree to renegotiate H’tota Port deal

Sri Lanka and China agreed yesterday to renegotiate the Hambantota Port project, but in a manner that would not harm traditional friendship between the two countries, informed sources said yesterday. Former Chinese ambassador to Sri Lanka Wu Jianghao called on Prime Minister Mahinda Rajapaksa in Colombo as an envoy of Chinese President Xi Jinping yesterday. Discussion centered on the development ... Read More »

Court lifts travel ban against Former Customs DG and Additional DG

The Colombo Fort Magistrate Ranga Dissanayake has today temporarily lifted the over seas travel ban imposed on former Customs Director General Jagath Wijeweera and former Customs Additional Director General Tharaka Seneviratne till March 31. The Magistrate made this order after considering the request made by the defense counsel. Read More »

Public urged not to purchase vehicles under investigation

The Ceylon Motor Traders Association (CMTA) was recently contacted, and informed that 13 units of Audi A5 motor vehicles have been imported under Customs Declaration number CBMV1 2019 I 4730, which wrongfully declares 2,000 CC petrol engined cars as 1,400 CC. This mis-declaration results in an approximate duty loss to the Government of Sri Lanka of Rs.160,000,000/= and the loss ... Read More »

Three Indians arrested with 1,000kg of Beedi leaves

Three Indian nationals have been apprehended with a large consignment of Beedi leaves during a joint operation conducted by the Sri Lanka Navy and Coast Guard in the seas northwest of the island. Having spotted a suspicious fishing dhow in the seas off Kudiramalai, Kalpitiya by the Navy, a Sri Lanka Coast Guard Ship patrolling in north-western seas had been ... Read More »

Sri Lanka Navy seizes over 200 kg of drugs suspected to be heroin in Southern seas

Colombo: Sri Lanka Navy has seized a multi-day fishing trawler carrying over 224 kilograms of drugs suspected to be heroin and arrested five Sri Lankans onboard the vessel while transporting the drugs. The haul of drugs was discovered when the Navy inspected a suspicious multi-day fishing vessel during a special operation conducted in the seas off the coast of Galle ... Read More »

Misconception of tea auction and export prices

The sustainability of Ceylon Tea or Sri Lanka tea industry depends on how efficiently and effectively it can adapt to match the changing global consumer preferences and consumption patterns. The tea industry needs to be competitive in production, marketing, logistics, product form and more. It must face the market realities and redefine its business strategies and reposition the product lines ... Read More »

Sri Lanka taken off world terror finance watch list

Sri Lanka has been removed from the “Grey List” of the Financial Action Task Force (FATF) on money laundering, the FATF announced last week. According to the outcome of the FATF Plenary held on October 16-18 in France, Sri Lanka now has become a country that is no longer subjected to the monitoring of the top international terror finance watchdog. ... Read More »

DHL Global Forwarding Sri Lanka consolidates operations at DHL Logistics Park

COLOMBO, SRI LANKA : DHL Global Forwarding Sri Lanka has moved to consolidate its operations and facilities in Colombo into a 225,000-square-foot logistics compound. Dubbed the “DHL Logistics Hub”, the compound comprises seven warehouses and the logistics company’s local head office, and is strategically located on Negombo Road, Colombo just six kilometers from the Colombo Sea Port and 30 kilometers ... Read More »

As crushing season begins, illegal imports worry edible oil industry

SOPA claims duty evasion of Rs 2000 crore The Soyabean Processor Association of India has voiced concern over illegal imports of edible oil from Nepal, Bangladesh, Sri Lanka and other SAARC countries without paying import duty. In a letter to Prime Minister Narendra Modi, Sopa pegged the loss to exchequer from duty evasion at over ₹2,000 crore. Read More »