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Last Updated = Thu, Mar 23, 2017, 10:59 pm SL Time

* India Sourcing Fair 2017 and India International Textiles Expo 2017 in Colombo

Mar 23 (CP) Colombo- The India Trade Promotion Organization (ITPO) (A Public Sector Enterprise under Ministry of Commerce, Government of India) is organizing India Sourcing Fair, Colombo, Sri Lanka from 24 to 26 March 2017 at Hall No. C of BMICH in which more than 30 companies from India are participating.
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* Sri Lanka to introduce new legislation to replace old Acts in financial sector to meet present day needs

Mar 23 (CP) Colombo- The Sri Lankan government in its initiative to reform key sectors plans to introduce new legislation instead of amending the old Acts that do not meet present day needs. The government has proposed replacing several acts and the Cabinet of Ministers has given its approval to the proposals.
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* Lubricant players concerned over increase in duty and taxes on synthetic lubricants

Mar 23 (Island) The recent steep rise in duty and tax imposed by the government on synthetic lubricants effective mid-November is causing alarm in the market, as lubricant suppliers are now starting to pass on the hike to the end users, a press release said.
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* Sri Lanka’s new revenue act to include capital gains policy

Mar 23 (LBO) Sri Lanka’s proposed Inland Revenue Act is to be drafted in conformity with the announced policy design of capital gains tax, the government said. Budget 2017 proposed a capital gains tax to be introduced with effect from 1st April 2017 at a rate of 10 percent.
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* IPM Sri Lanka to expand to Maldives

Mar 22 (CP) Colombo- Institute of Personnel Management (IPM) Sri Lanka has initiated plans to expand its footprint to neighboring Republic of Maldives in order to provide their expertise in HR education and people management skills to the citizens of Maldives.
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* Sri Lankan shares fall to 1-yr closing low, breaching key barrier

Mar 22 (Reuters) Sri Lankan shares fell on Wednesday to a more than one-year closing low, breaching a key psychological barrier of 6,000, as expectations of an interest rate hike continued to drag down the market ahead of the central bank's policy review.
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* Boost for local tech firms expected from SL-Singapore FTA

Mar 22 (DM) The Sri Lanka-Singapore free trade agreement (FTA) talks have included a novel approach to digital services in the negotiations agenda, which is likely to afford new opportunities for Sri Lanka’s digital entrepreneurs, an Information Communications Technology Agency (ICTA) official said recently.
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* Private sector technical team proposes to hold off the abolition of current SVAT system

Mar 23 (CP) Colombo- The private sector technical committee appointed by joint Chambers and Trade Associations to study the government's plan to abolish the current Simplified Value Added Tax (SVAT) system has proposed to hold off the move and maintain the current SVAT mechanism until a robust refund mechanism is put in place.
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* Sri Lankan shares fall to 1-yr closing low, rate review in focus

Sri Lankan shares fell for a second straight session on Thursday to a more than one-year closing low as expectations of an interest rate hike continued to drag down the market ahead of the central bank's monetary policy review.
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* SL says China agrees to cut Hambantota port stake to 60% in a decade

Mar 23 (DN) Sri Lanka has reached agreement to sell 80 percent of Hambantota port to China though a joint venture an option to reduce the Chinese stake to 60 percent in 10 years, Deputy International Trade Minister Sujeewa Senasinghe said.
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* EFL marks 35 years, establishes itself as sub continent's first global logistics provider

Mar 22 (CP) Colombo- Leading logistical services provider Expolanka Freight (Pvt) Ltd celebrated its 35th anniversary on 22 March. The company marked the milestone with a reaffirmed commitment to its core mission and values, with a strengthened focus on Asia's flourishing fast fashion market.
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* POLL-Views split on Sri Lanka rate hike, tightrope walk for cbank

Mar 22 (Reuters) COLOMBO- Sri Lanka's central bank could raise its key policy rates in the coming months if it skips a chance to tighten this week, a Reuters poll showed, two weeks after the International Monetary Fund called for further tightening.
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* HNB once again wins Best Retail Bank and Best Micro Finance Product of the Year at Asian Banker Awards 2017

Mar 22 (Island) Continuing an unprecedented winning streak, Sri Lanka’s leading private sector commercial bank, HNB PLC was once again awarded the Best Retail Bank for the 9th year,
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* NDB’s international rating affirmed at ‘B’ with Stable Outlook

Mar 22 (DN) Standard & Poor’s (S&P) has affirmed National Development Bank’s (NDB) long term and short term issuer credit rating at ‘B’ with a stable outlook in their report dated March 20 2017.
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