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MRP for fuel

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A decision has been taken to declare only the Maximum Retail Price based on the pricing formula for all types of fuel.

State Minister of Power and Energy DV Chanaka noted that steps will be taken to declare a Maximum Retail Price, to create competitiveness among fuel distributing companies in the country.

Speaking to media in Colombo yesterday (23), the State Minister assured that the Maximum Retail Price will be stipulated by the government to all fuel companies under the price formula from August.

The State Minister also said that it is expected to take a decision regarding the QR code after discussing it with all the parties in the future. He noted that in order to increase fuel competitiveness, agreements have been reached with three major internationally registered companies.

The State Minister stated that this will increase competition and offer a sound remedy for the current dollar issue. By the first week of next month, a ship of Sinopec Company is scheduled to arrive in Sri Lanka.

Until now, the fuel price formula existed only for Ceylon Petroleum Corporation.

State Minister DV Chanaka noted that instead, steps will be taken to set a Maximum Retail Price using the pricing formula to affect all companies through this new system.

Thus, the Ministry will decide only the Maximum Retail Price in the future.

The companies will then be able to provide fuel at a price of their choice subject to the maximum price.

State Minister of Power and Energy DV Chanaka claimed that this will create competition among fuel companies resulting in reduced fuel prices.

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Standard egg prices to be announced daily via SMS

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Chairman of the All-Ceylon Egg Producers’ Association, R.M. Sarath Rathnayake has said new measures to announce daily standardized egg prices will be introduced from next Monday (June 23) to ensure fair pricing for consumers.

The prices covering wholesale, retail, and intermediary rates will be communicated daily at 5.00am via SMS to small, medium, and large-scale egg producers, as well as bakery owners, food manufacturers, and hotels through the number 070-7030700.

He warned of recent practices where eggs were bought at Rs.15-18 and stockpiled, stating such actions will no longer be tolerated.

He also criticized groups posing as “egg associations” without actual farming experience.

The cost of producing an egg is around Rs.28 for large farms, Rs.29-30 for medium range farms, and Rs.32 for small-scale producers, he further said.

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16 bn. Apple, Facebook, Google passwords exposed

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A staggering 16 billion passwords to Apple, Facebook, Google, and various US government services have been leaked online, triggering global security alerts in what experts are calling the most significant data breach in history.

The mammoth security breach has forced Google to urge billions of users to change their passwords immediately.

At the same time, the FBI has issued warnings to Americans about opening suspicious links in SMS messages.

Cybersecurity experts at Cybernews, who investigated the breach, discovered a whopping 30 exposed datasets containing between tens of millions and over 3.5 billion records each.

Perhaps most alarmingly, researchers confirmed that nearly all these exposed datasets contain previously unreported information, making this an entirely fresh security crisis.

“This is not just a leak – it’s a blueprint for mass exploitation,” the researchers said via Forbes this week.

(news.com.au)

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New chairman appointed to CSE

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Dimuthu Abeyesekera has been appointed as the new Chairman of the Colombo Stock Exchange (CSE).

The CSE announced that Mr. Abeyesekera brings over 35 years of experience in the capital markets and has served on the CSE Board for the past six years.

He currently serves as the Director/CEO of Asha Securities Ltd, which is affiliated with Phillip Capital Singapore, a specialized financial services organization managing assets worth over US$ 35 billion with a network of offices around the world.

Abeysekera also currently serves as the Director at Asha Financial Services Ltd, a specialised margin Trading Company in Colombo.

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