Price of imported milk powder reduced

India and Sri Lanka sign deal to develop Trincomalee oil tank farm

India and Sri Lanka today signed an agreement to develop the Trincomalee oil tank farm. The agreement was signed between the Treasury Secretary, the Commissioner General of Lands, the Ceylon Petroleum Corporation (CPC), Lanka Indian Oil and Trinco Petroleum Terminal Pvt. Ltd. “A new milestone in India, Sri Lanka economic and energy partnership!! Congratulations to all parties on signing the Agreement to develop the Trincomalee Oil Tank Farms. Sincerely appreciate the guidance from leadership o

06 Jan, 2022

Susil?s SLPP membership at stake?

By Easwaran Rutnam? The Sri Lanka Podujana Peramuna (SLPP) membership of former State Minister Susil Premajayantha is at stake.? SLPP General Secretary Sagara Kariyawasam told Daily Mirror that there are calls from within the party to take disciplinary action against Premajayantha. Kariyawasam said that the SLPP Central Committee will convene and decide if disciplinary action should be taken against Premajayantha. ?A number of SLPP members want disciplinary action taken on MP Premajayantha.

06 Jan, 2022

Banks in India cautious in dealing with Sri Lanka because of Forex issue

As Sri Lanka grapples with a severe foreign exchange crunch, high street banks in India have turned cautious and selective about their exposures to the island nation. Several institutions have reduced discounting letters of credit (LC) ? the basic instrument for financing trade ? issued by many Lanka lenders while others are giving credit to exporters based on the standing of the party, amount, the tenor of the credit, and standing of the bank issuing LCs. Given the long trade relations, Sri L

07 Jan, 2022