Apr 2 (FT) LAUGFS Gas announced a substantial massive reduction in the prices of its LAUGFS branded domestic LPG. The price of a 12.5kg domestic cylinder under the LAUGFS brand will be reduced by a staggering Rs. 625 to be at an MRP of Rs. 4,115 within the Colombo District. Prices in other areas and pack sizes will be adjusted accordingly. LAUGF said this significant price revision comes as a testament to several positive developments and factors contributing to favourable economic more..

Apr 2 (DM) Sri Lanka’s monthly milk powder consumption, which almost halved following the economic crisis, due to the price escalation, is witnessing a slight increase, a senior industry representative said. The monthly milk powder consumption, which was about 7,000 MT pre-Covid, dropped to about 3,000 MT over the last three years, due to the price increases caused by the increase in the US dollar, an increase in global market milk prices and a hike in govt taxes. more..

Apr 2 (FT) Most star class city hotels yesterday appealed to the Govt to continue with the highly beneficial Minimum Room Rate (MRR) regime which as per original announcement was to end on 31 March. Heads of Renuka Hotels PLC, Jetwing Colombo Seven, Ramada by Wyndham Colombo, Steuart by Citrus, Radisson Hotels, Fairway City Hotel and Colombo City Hotel as well as five star The Kingsbury detailed how the MRR more..

Apr 2 (Island) Asian Games medallist Aruna Dharshana has given athletics fraternity new hopes in an Olympic year, hogging limelight at local track and field events. Dharshana, trained by Asanka Rajakaruna reached his personal best performances in both the 200 metres and 400 metres as he won the two disciplines with new meet record marks at the SL Army Athletics Championships concluded in Colombo over the weekend. SL Artillery athlete clocked 45.30 seconds to win men’s 400 m more..

Apr 2 (FT) SL Tourism Development Authority (SLTDA) Chairman Priantha Fernando confirmed that the Minimum Room Rate (MRR) effective since 1 October last year, has made a positive impact to the overall wellbeing and growth of the tourism sector. “The progress of the MRR has been very good not just for the Colombo City Hotels but also establishments outside the capital in increasing room rates during the season. It has had a positive impact overall on the industry yields,” he said. more..

Apr 2 (TM) SL Rupee (LKR) ranks top performer among emerging market currencies in the first quarter (1Q) of 2024 with over 7 % spot returns, market data showed. Accordingly, SL Rupee has recorded a spot return of 7.77% by the end of March claiming the top performer among the emerging market currencies. Other currencies which have positive returns in the first quarter are the Mexican Peso with a 2.5% spot return and more..

Apr 2 (EN) Local egg production has exceeded the total daily requirement, Minister of Agriculture and Plantation Industries Mahinda Amaraweera has said. “Therefore, the price of a local egg is likely to come down to 35 rupees in the coming period,” Amaraweera has said. On average, the daily requirement of eggs in this country is 6.5 million eggs. According to the Egg Producers Association, the production of eggs in local poultry farms has already exceeded 7.5 m, Amaraweera said. more..

Apr 2 (EN) Sharhan Muhseen has been appointed the chairman of Sri Lanka’s Commercial Bank of Ceylon Plc with effect from April 22, the bank said in a stock exchange filing. Sharhan Muhseen was appointed chairman of the board with effect from April 22, 2024 at a special board meeting on March 28, the bank said in a stock exchange filing. He is a senior investment banker with extensive experience in areas of mergers and acquisitions, corporate finance and capital markets. more..

Apr 2 (FT) The SJB, re-issued its challenge to the NPP for a debate on the economy, proposing a showdown between the two parties’ economic councils. SJB MP Harsha de Silva slammed the NPP for its comments critical of the SJB and said the NPP has avoided the party’s invitation extended by SJB MP Nalin Bandara on seven separate occasions. The MP commenting on certain statements made by the NPP on the IMF and debt restructuring process, stressed that while debt restructuring more..

Apr 2 (DN) Skipper Lucy Hamilton stroked an unbeaten 56 as Australia made a fighting 7 wickets win over Sri Lanka in their under 19 Tri Nation T-20 cricket fixture played at Mattala yesterday. It was very close fight but SL lasses made good fight once again until the last ball while captains knock hit by Lucy Hamilton which gave them favour for the first victory of the series. SL lasses made 132 for 7 wickets with opener Sanjana Kavindi top scored 39 in 29 balls with 8 fours more..

Apr 2 (CI) Are we in a golden age of South Asian seam bowling? While the likes of Jasprit Bumrah, Mohammed Siraj and Mohammed Shami take up most of the headline space, and Pakistan have always been a hotbed for fiery fast bowling, Sri Lanka and Bangladesh have struggled rather more in the pace department, with the likes of Chaminda Vaas, Lasith Malinga and Mustafizur Rahman outliers more than signs of more..

Apr 2 (TM) Ex-Minister of Sports Roshan Ranasinghe says that if he is able to gain political power, following the country’s next round of national elections, he will radically overhaul the sports set up here, with ultra emphasis on cleaning up the Augean stables in cricket. The former Minister made this comment, when The Daily Morning Sports, sought his views on the perceived delay on the part of the Attorney General’s Dept, to act on the recommendations put forth by the AG. more..

Apr 2 (FT) Minister Kanchana Wijesekera yesterday shed light on the particulars of the Ceylon Petroleum Corporation’s (CPC) fuel costs, following the recent fuel price revision announced on Sunday. In a comprehensive 6-point statement shared via ‘X’, he provided insights into the factors influencing the decision not to reduce the prices of 92 Octane Petrol and Auto Diesel. Wijesekera highlighted the significant impact of refinery costs on Auto Diesel, 92 Octane Petrol and Kerosene. more..

Apr 2 (TM) Health Trade Unions Alliance (HTUA) has postponed the continuous strike, which was scheduled to commence today, for 24 hours, following the Health Ministry's decision to convene a meeting between the Govt and the trade unions today at the Presidential Secretariat. The continuous strike was initially scheduled to commence today following a protest staged all over the island yesterday (1). Meanwhile, HTUA Co-Convenor Chanaka Dharmawickrama said that more..

Apr 2 (FT) Several leading export lobbies yesterday issued an urgent appeal over the appreciation of the Rupee and resulting concerns. In a joint statement, the Exporters Association of Sri Lanka, Joint Apparel Association Forum of Sri Lanka, National Chamber of Exporters, Tea Exporters Association and Sri Lanka Association of Manufacturers and Exporters of Rubber Products listed a host of challenges emanating from an overvalued rupee. Following is their full statement. more..

Apr 2 (Island) There is a trend among some SL parents not to have their infants vaccinated and this could lead to disastrous consequences, officials from National Programme for Tuberculosis Control and Chest Diseases (NPTCCD) says. In certain developed nations, some parents start vaccinating their children only after a year or so after they were born and SL parents who find out about this on the Internet, had also started more..

Apr 2 (PTI) SL's Tamil political parties are planning to field a candidate from the minority community in the presidential election to present a credible and acceptable political solution for them, a senior community leader said. SL is scheduled to hold the next prez election in the last quarter of 2024 to elect a new Prez by mid-November. Senior Tamil leader R Sampanthan said that Tamils will be well served in the forthcoming presidential election by supporting a candidate who would pledge more..

Apr 2 (TM) Merely because the cargo ship that collided with a bridge in Baltimore, US, causing the destruction of both the ship and the bridge, was en route to SL, it does not mean that the hazardous material that was said to aboard the ship was intended for SL, SLPA claimed. Noting that most of the containers that were aboard the ship were to go to other destinations (countries) via SL, SLPA Chairman Keith D. Bernard said that SLPA was not even aware of the contents of the containers more..

Apr 2 (FT) For the fiscal year 2022/23 (April to March), tax concessions resulted in a total of LKR 978 billion in foregone revenue, the govt reported. The foregone revenue amounts to 56% of the total tax revenue collected by the govt in 2022. This was highlighted by PublicFinance.lk, SL’s premier economic insights platform, maintained by Verité Research. The source was a document titled Tax Expenditure Statement published on more..

Apr 2 (FT) Professional Accountants often struggle in deciding whether their overriding loyalty is to the employer, client, boss, profession, the public or self. Adding to this, most organisations believe that a professional accountant employed by them must always act in their best interest over and above any other stakeholder. This is flawed thinking because the maintenance of the trust inherent in the fiduciary relationship which anchors the role of a professional in his/her dealings, more..

Apr 2 (FT) Peter Breuer of the IMF’s visiting delegation made some interesting comments specifically related to alternatives or alterations to the current program. He stated that any alternative proposals must be realistic before repeating the urgency for improving revenue and meeting Intended Targets (ITs) and noting the “commitment in the (IMF) program to not grant any more tax concessions. Tax concessions are a missing component of tax revenues”. more..

Apr 2 (AD) The Cabinet of Ministers has green-lighted a proposal seeking to hand over the historic Ehalepola Walawwa and the grounds over to the Sri Dalada Maligawa (Temple of the Tooth Relic) in Kandy through a title deed of sacred premises. In accordance with a decision taken in the Cabinet meeting held on 19 February 2024, the President’s Secretary had been informed to discuss with all the relevant parties and submit a report with recommendations to the Cabinet regarding more..

Apr 2 (FT) Nayantara Fonseka (Taru), launches Nyne Hotels, marking a new chapter in hospitality excellence and creativity. This transition isn’t merely a name change; it signifies the brand’s commitment to providing unparalleled experiences that engage with all nine senses (vision, hearing, smell, taste, touch, balance, intuition, time, and presence). The significance of the number nine is rooted in completeness and culmination: “At Nyne Hotels, it represents the pinnacle of our dedication more..

Apr 2 (AD) The Colombo High Court on Tuesday (02) rejected the bail application filed by the General Secretary of BBS General Secretary Ven. Galagodaaththe Gnanasara Thero, who was recently handed a 4-year rigorous imprisonment. High Court Judge Aditya Patabendige conveyed the decision when the bail application put forward by the defense attorneys requesting the court to release their client on bail was taken up more..

Apr 2 (DM) Due to a series of programms to be held for the State Vesak festival for Sri Buddha year 2568 (2024), the Buddha Sasana, Religious and Cultural Affairs Ministry requested to stop the slaughter of animals and to close down meat shops and places where drugs are sold, including liquor stores, on May 22, 23 and 24. Meanwhile, Minister Bandula Gunawardana said the State Vesak festival is scheduled to be held from May 21 to 27, naming it Vesak week and focusing on Matale district. more..

Apr 2 (EN) Mothers of infants should avoid working abroad, SL’s Minister Geetha Kumarasinghe, has said. “A mother should stay with the child till the child is two years,” Kumarasinghe said. “To whom are they going to give the responsibility? To the grandparents? To the husband? No, it is the mother who does that. You have to look after the child.” At an event for Int'l Women’s Day last month, Kumarasinghe said she was in favor of requesting mothers with children under two to refrain more..

Apr 2 (DM) Ways and Means Committee has requested the Customs to handover the names of importers, who have earned undue profits last year, to the Inland Revenue Dept so that they could be taxed, Chairman of the Committee Champika Ranawaka said. MP said that the Inland Revenue Dept will charge 36 percent of their income as taxes. “Some of the importers have started companies temporarily to import essential items and more..

Apr 2 (BS) External Affairs Minister (EAM) S Jaishankar’s call for finding a solution to the Katchatheevu island matter by bringing Sri Lanka to the negotiating table could prove to be an uphill task, show official records from both countries. Katchatheevu was identified as belonging to SL in 1974 as part of a maritime boundary agreement between the two countries. While claiming at a press conference on Monday that prime ministers from the Congress had displayed more..

Apr 2 (AD) MP Gamini Lokuge has been unanimously elected as the new Chairman of the Committee on Banking and Financial Services for the Fifth Session of the Ninth Parliament. The first meeting of the Committee on Banking and Financial Services for the Fifth Session of the Ninth Parliament was held yesterday. The name of Gamini Lokuge was proposed by MP Kokila Gunawardena and seconded by MP Udaya Gammanpila. Gamini Lokuge chaired this committee more..

Apr 2 (EN) Prez Ranil Wickremesinghe appointed High Court Judge W.K.D. Wijerathne as the Director General of the CIABOC, which has wide powers under the new Anti Corruption Act. Wijerathne has functioned in the same role before, but this new appointment is under the new Act which was passed in the parliament in September last year. The new Act is one of the commitments Prez Wickremesinghe’s govt made to the International Monetary Fund in return to its $3 billion loan. more..

Apr 2 (AD) The Order under the Value Added Tax Act, in relation to increasing the VAT from 15% to 18%, was passed in Parliament today by a majority of 36 votes. During the vote held this evening, after the opposition had asked for a division, a total of 55 MPs voted in favor of the order and 19 voted against it. Parliament was subsequently adjourned until Apr 24, 2024. Meanwhile, the Second Reading of the Banking (Amendment) Bill was followed by the Committee Stage and Third Reading, more..

Apr 2 (CI) SL continued their march toward a 2-0 series victory on day four, taking seven Bangladesh wickets, as they encountered only pockets of resistance from the opposition. Mominul Haque crossed fifty as Bangladesh strove to bat out almost five-and-a-half sessions to save the match, or hit the record 511 runs they needed to win. Mehidy Hasan Miraz was unbeaten at stumps, but no one else crossed 40 and their biggest partnership more..

Apr 2 (CT) OIC of Horowpathana Police and four other Police Officers apologised to three persons, who were arrested following the 2019 Easter Sunday attacks, in the Supreme Court yesterday, acknowledging that the arrests were wrongful. The three arrested persons from Kebithigollewa, Seinul Abdil Irfan, Seinul Abdeen Haleemfathullah and Nuhurge Sakaria, received apologies in the Open Court from the Police before the SC Justices S. Thurairajah, Kumudini Wickremasinghe and more..

Apr 2 (AD) The govt has decided to provide free-of-charge sanitary napkins to schoolgirls starting this month. At its meeting on Monday, the Cabinet of Ministers green-lighted a proposal presented by Education Minister Susil Premajayantha to carry out the program annually. Thereby, as many as 800,000 schoolgirls from rural schools, remote schools, estate schools, and urban schools with poverty-stricken students, will thus be provided with sanitary napkins free of charge. more..

Apr 2 (WB) SL’s economy is projected to see moderate growth of 2.2% in 2024, showing signs of stabilization, following the severe economic downturn of 2022. But, the country still faces elevated poverty levels, income inequality, and labor market concerns, says the World Bank's latest bi-annual update. Released today, SL Development Update, Bridge to Recovery, highlights that SL saw declining inflation, higher revenues on the back of more..