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Cabinet approves new visa categories for Port City!

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The Cabinet has approved the introduction of new visa categories for the Colombo Port City.

The Department of Immigration and Emigration is tasked with issuing visas to investors and other related parties who would visit the country for various services such as international trade, shipping and operations, finance, information technology and tourism to be established in the Port City.

Accordingly, the Cabinet has approved the proposal presented by the Minister of Public Security to take necessary steps to introduce the following visa categories based on the recommendations of the Colombo Port City Economic Commission.

Under the ‘Residence Visa’ category, “Investment Visa” for investors, “Employment Visa” for employees and “CPC Residential Property Lease Buyer Visa” for foreigners living on tax basis in Port City have been approved.

Meanwhile, Ajlan and Bros Holding Group, one of the largest conglomerates in the Middle East (Saudi Arabia), has entered into an agreement with CHEC in Riyadh, a subsidiary of CHEC (Pvt) Ltd, the operating company of the Port City project, to launch several development projects in the Port City. The value of the investment is 1.3 billion USDs.

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Norochcholai generator to shut down for 25 days

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The Ceylon Electricity Board (CEB) announced that the generator No. 01 at the Norochcholai Power Plant will be deactivated from midnight today (June 13) for scheduled maintenance lasting 25 days.

This will result in a temporary reduction of 300 megawatts from the national grid.

However, the Kelanitissa Combined Cycle Power Plant, which had been deactivated for around one and a half months for maintenance, will also be reactivated from midnight, contributing 165 megawatts back to the system.

CEB Media Spokesman – Dhammika Wimalaratne noted that the timing of the maintenance aligns with increased hydroelectric generation capacity due to current rainfall.

(Source: Aruna)

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Global oil prices soar after Israel attacks Iran

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Global oil prices jumped after Israel said it had struck Iran, in a dramatic escalation of tensions in the Middle East.

Benchmark oil contracts Brent Crude and Nymex light sweet were up by more than 10% after the news emerged.

Traders are concerned that a conflict between Iran and Israel could disrupt supplies coming from the energy-rich region.

The cost of crude oil affects everything from the price of food at the supermarket to how much it costs to fill up your car.

Analysts have told the BBC that energy traders will now be watching to see whether Iran retaliates in the coming days.

“It’s an explosive situation, albeit one that could be defused quickly as we saw in April and October last year, when Israel and Iran struck each other directly,” Vandana Hari of Vandana Insights told the BBC.

“It could also spiral out into a bigger war that disrupts Mideast oil supply,” she added.

In an extreme scenario, Iran could disrupt supplies of millions of barrels of oil a day if it targets infrastructure or shipping in the Strait of Hormuz.

The strait is one of the world’s most important shipping routes, with about a fifth of the world’s oil passing through it.

At any one time, there are several dozen tankers on their way to the Strait of Hormuz, or leaving it, as major oil and gas producers in the Middle East and their customers transport energy from the region.

Bounded to the north by Iran and to the south by Oman and the United Arab Emirates (UAE), the Strait of Hormuz connects the Gulf with the Arabian Sea.

“What we see now is very initial risk-on reaction. But over the next day or two, the market will need to factor in where this could escalate to,” Saul Kavonic, head of energy research at MST Financial said.

(BBC News)

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CID teams conduct prison inspections islandwide

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The Ministry of Public Security says that 28 Criminal Investigation Department (CID) teams have begun inspections at all prisons across the country yesterday (June 12), with the operation continuing today (June 13) due to its scale.

These inspections focus particularly on reviewing prison documents, as part of the ongoing investigation into the alleged misuse of presidential pardons to unlawfully release inmates.

Commissioner General of Prisons – Thushara Upuldeniya, who was arrested over the unauthorized release of an Anuradhapura Prison inmate on Vesak Poya Day, remains in custody at a Colombo prison under special protection.

Meanwhile, Anuradhapura Prison Superintendent – Mohan Karunaratne, who has also been remanded, is to be produced before court again today.

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