News

CBSL probes Jaffna team’s sponsor MTFE SL Group

Published

1 year ago

August 11, 2023

editor

The Resolution and Enforcement Department of the Central Bank of Sri Lanka (CBSL) has launched an investigation into MTFE SL Group which was a sponsor of the 2023 Lanka Premier League (LPL).

The CBSL said that there were facts to indicate that the activities of MTFE SL Group could fall under prohibited pyramid schemes.

It is also said that this company has not been registered under the Central Bank.

The company is a sponsor of the 2023 LPL based on an agreement reached with Sri Lanka Cricket (SLC) and I.P.G. company and accordingly, it was seen how the company printed its logo on the jersey of the Jaffna Kings team and carried out advertising activities in the stadiums where the matches were held.

However, with strong objections received against this company on social media sites stating that it is working as a pyramid company, the SLC and I.P.G. company later proceeded to remove MTFE SL Group as a sponsor.

Source – Hiru

News

2 Chinese nationals arrested at BIA with gems worth over Rs. 17 mn.

Published

11 hours ago

January 14, 2025

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Two Chinese nationals have been nabbed at the Bandaranaike International Airport (BIA) last night (Jan. 13) after attempting smuggle a stock of gemstones out of the country.

The customs officers had apprehended the 45-year-old male and his 21-year-old daughter who had hidden gemstones in their undergarments, reports say.

According to Sri Lanka Customs, he stock of gemstones includes Moonstones, Hessonite Garnets, Star Sapphires, Cats Eyes and Emeralds weighing around 689.5 grams in total and valued around Rs. 17,450,875.

News

100 families in Suduwella village, evacuated

Published

11 hours ago

January 14, 2025

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100 families residing in Suduwella village, Gal Oya have been evacuated to safety, District Secretary of Ampara District, Chinthaka Abeywickrama says.
Noting that the Gal Oya is near to breaching its banks, Mr. Abeywickrama has said that the evacuation was done in the face of a possible flood situation.

Meanwhile, the banks of the Gal Oya have been severely eroded in the Kota Vehera area.

News

Samarasinghe blames previous govt. again for red rice shortage

Published

11 hours ago

January 14, 2025

editor

Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe has yet again blamed the previous government for the current shortage of red rice in the local market.

Speaking to media, the minister criticised a policy implemented by the previous government that distributed 20 kg of red rice to households indiscriminately.

However, he has assured the public that the situation will improve soon and that the supply will normalise in the coming months.

“Red rice is an essential food item, especially during the Thai Pongal celebrations, and we are aware of the anxiety caused by this shortage. Plans are afoot to stabilize supply ahead of upcoming harvests,” Samarasinghe stated.