The prices of schoolbags and school shoes have been slashed by 10%, manufacturers have reportedly told State Minister of Finance – Ranjith Siyambalapitiya today (July 27).
This has been conveyed during a discussion held at the Finance Ministry.
The manufacturers have further told the State Minister that they are willing to sell existing stocks of schoolbags and shoes in the market at revised rates.
The price reduction comes after several rounds of lengthy talks between the state minister and the manufacturers.
In a boost to bilateral trade, China’s S.F. Airlines launched its inaugural Kunming-Colombo cargo flight yesterday, marking a new chapter in Sri Lanka’s logistics connectivity with Yunnan Province.
S.F. Airlines deployed a Boeing 747-200 aircraft for the inaugural flight, which arrived at BIA from Kunming at 10:50 a.m. yesterday (26), carrying 22 metric tons of cargo.
S.F. Airlines – a major Chinese logistics carrier.
CIB Big City, a private business outlet in Maharagama, has been fined Rs. 1 million by the Gangodawila Magistrate’s Court today (June 26) for selling overpriced bottled water.
A case was filed against the business outlet following a raid carried out by the Consumer Affairs Authority (CAA) officials on May 09, 2025.
During the raid, officials had discovered that a 500 ml bottle of water has been sold at Rs. 90 despite the MRP being declared as Rs. 70 by a gazette notification published on April 01, 2025.
The store is a part of the well known fashion chain – Wijaya Group, which is chaired by Mr. K.R.G Wijesundera.
Oil prices fell sharply to their lowest in more than a week on Tuesday as U.S. President Donald Trump said a ceasefire has been agreed between Iran and Israel, alleviating worries of supply disruptions in the Middle East – a major oil-producing region. Brent crude futures were down $2.08, or 2.9%, at $69.40 a barrel around 0330 GMT, after earlier tumbling more than 4% and touching its lowest level since June 11.
U.S. West Texas Intermediate crude declined $2.03, or 3.0%, to $66.48 per barrel, having dived 6% to its weakest level since June 9 earlier in the session.