Radi

In the wake of ever increasing Russian tourist inflow, the Sri Lanka Embassy in Moscow has initiated a banking cooperation between People’s Bank in Sri Lanka and National Investment Industrial Bank in Russia (NIIB).

Sri Lanka’s long term National Economic Policy will be formulated in accordance with the vision of President Ranil Wickremesinghe with the endorsement of parliament to make it stable and unchanged for the next 25 years.

Country’s premier private sector lobby the Ceylon Chamber of Commerce yesterday said that the National Budget for 2023 presented by President and Finance Minister Ranil Wickremesinghe contains many laudable reform proposals which, if implemented in a timely manner, will complement the on-going fiscal reforms outlined.

A new surcharge tax on fuel imports will be used to cover Rs 700 billion (2 billion US dollar) loan taken over from state-run Ceylon Petroleum Corporation, State Minister for Finance Shehan Semasinghe said.

In an urgent priority move Government is set to implement the Singapore - Sri Lanka Free Trade Agreement (FTA) as soon as possible according highest priority to this task while expediting necessary official procedure towards this end, Presidential secretariat announced.