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Government plans to tap Indian tourists to revive tourism
Sri Lanka plans to tap Indian tourists to revive the South Asian island’s battered tourism sector and shore up its depleted foreign exchange reserves.
Sri Lanka’s headline inflation to hit 70% in coming months
Sri Lanka’s headline inflation is expected to rise to 70 per cent in the coming months from the current level of 50%, the Governor of the Central Bank of Sri Lanka, Dr. Nandalal Weerasinghe says.
Probe the huge profit margins CPC makes on imports, sales of fuel: PUCSL Head
The Public Utilities Commission of Sri Lanka (PUCSL) Chairman, Janaka Rathnayake, today urged the government to investigate the Ceylon Petroleum Corporation (CPC) for making huge profit margins on fuel imports and sales.
Minister Dhammika Perera streamlines FDI approval process
The Ministry of Technology and Investment Promotion has taken measures to streamline the investment approval process by eliminating the heavy paper work and filling of application forms with a view of attracting more Foreign Direct Investments into the country, a senior official of the ministry said.
India demands advance payment for fuel supply to Sri Lanka
India is seeking payment in advance for supply of fuel to Sri Lanka after credit lines were exhausted, according to people with knowledge of the matter, official sources said.