Nugegoda flyover bridge closed from today for renovations

CBSL denies claims linked to US Treasury Securities

The Central Bank of Sri Lanka (CBSL) has denied claims it is pledging USD 4.5 billion worth of US Treasury Securities to obtain a credit facility of USD 1 billion. CBSL said that it has recently entered into an agreement with the Federal Reserve Bank, New York (FED) as a temporary source of US dollar liquidity to be used when required. The facility, in technical jargon, is an overnight Repurchase (Repo) facility available for ?Foreign and International Monetary Authorities? (FIMA). Many centra

24 Jul, 2020

President considers amending Antiquities Ordinance

President Gotabaya Rajapaksa is considering amending the Antiquities Ordinance?in order to strengthen the preservation of antiquities and historical national heritage. The President has decided to appoint a committee comprising the Buddhist clergy and experts in the field to study how the amendments should take place. The proposed amendment seeks to stop the destruction caused to antiquities and to pass on the country?s heritage to the future generation while resolving practical issues. The d

24 Jul, 2020

China secures deal for Sri Lanka railway smart card system

By Indika Sri Aravinda China has secured a deal for a smart card system to be installed at train stations in Sri Lanka, the Colombo Gazette learns. In February, the Ministry of Transport Management announced that a smart card for quick train travel and an e-ticketing system for seat reservations in trains will be introduced in the near future. Cabinet approval has been granted to provide the contract for the installation of ticketing machines for the project to a Chinese firm. The issuing of

25 Jul, 2020