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Twitter logo to change

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Twitter owner Elon Musk has said he wants to get rid of the Twitter bird logo, and replace it with an “X”.

However, Mr Musk also has a history of making statements that fail to happen or are not serious.

Mr Musk, who has changed the name of the business to X Corp, said the replacement “should have been done a long time ago”.

According to reports, the billionaire wants to create a “super app” called “X” which is similar to China’s WeChat.

He said on Sunday he was looking to change Twitter’s logo, tweeting: “And soon we shall bid adieu to the Twitter brand and, gradually, all the birds.”

He then said that an interim logo would go live later the same day.

Mr Musk posted an image of a flickering “X” on Twitter, and later in a Twitter Spaces audio chat, replied “Yes” when asked if the Twitter logo will change, adding that “it should have been done a long time ago”.

The company’s chief executive, Linda Yaccarino, wrote on the platform that the rebrand was an exciting new opportunity.

“Twitter made one massive impression and changed the way we communicate,” she said.

“Now, X will go further, transforming the global town square.”

For some people in Asia, super-apps including India’s PayTM and Indonesia’s GoJek have been a vital part of everyday lives for the past few years.

The apps let users pay for services through a finance system.

WeChat is a messaging and social media platform that has evolved into one of the region’s biggest apps in terms of its range of services and number of users.

Last year, it was estimated to have 1.29 billion users in China alone.

(BBC News)

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SDB CEO announces resignation

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Sanasa Development Bank CEO Priyantha Talwatte has announced his resignation with effect from Feb. 20.

In a filing to the Colombo Stock Exchange, the SDB has said the Board accepted his resignation.

Talwatte joined SDB bank in November 2022 after resigning from Nations Trust Bank in April 2022 having served the institution for two decades.

Commanding over 30 years’ experience in banking Talwatte is an alumnus of Harvard Business School (AMP) Boston, USA.

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Special commodity levy on several items, upped

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A government notification has been issued, increasing the special commodity levy imposed on several items including black grams, green grams and cowpeas.

As such, the special commodity levy on black grams (skinned, either split or not) has been increased to Rs. 300 per kilogram. 

Meanwhile, the tax on green grams, cowpeas, Kurakkan (seeds), Kurakkan (other), millet (seeds) and millet (other) has been raised from Rs. 70 to Rs. 300.

In addition, a special commodity levy of Rs. 25 is in place on maize.

The communiqué, issued by President Ranil Wickremesinghe in his capacity as the Finance Minister, says the order is valid from February 20, 2024 through December 31, 2024.

It also notes that importation of maize, black grams, green grams, and Kurakkan is allowed on the recommendation of the Agriculture Ministry.

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CBSL imposes penalties on BoC and People’s Bank

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The Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka (CBSL) has collected penalties amounting to Rs. 14 million in total from three financial institutions.

According to a CBSL press release, the FIU collected these penalties from Sep. 27 – Dec. 31 2023 from MMBL Money Transfer (Pvt) Ltd as well as from state owned banks – Bank of Ceylon and People’s Bank.

The CBSL said by the powers vested under Section 19 (1) read together with Section 19 (2) of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), financial penalties are imposed on Institutions for non-compliance with the provisions of the FTRA.  The penalty may be prescribed taking into consideration the nature and gravity of the relevant non-compliance, it added.

Accordingly, as Sri Lanka’s regulator for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), the FIU collected the penalties has credited it to the Consolidated Fund.

The complete press release is as follows : 

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