News

First investor of ‘Colombo Financial City’ arrives

Published

1 year ago

October 3, 2023

editor

After the Port City was renamed as Colombo Financial City and launched in Dubai, UAE, four investors from a Chinese company arrived in Sri Lanka yesterday as the first investor to invest in it.

The team of CZK Huarui International Culture and Art (Beijing), a semi-state company in China, is led by its General Manager Sophia Li.

This group of investors arrived in Sri Lanka based on the agreements and MoUs reached with the Sri Lanka Board of Investment (BOI) and the Sri Lanka Ministry of Investment Promotion following the recent visit of Investment Promotion State Minister Dilum Amunugama.

They have planned to establish a gem museum, an affiliated gem testing laboratory and a gem auction center in the financial city of Colombo at a cost of US$ 50 million.

In addition, they have planned to invest another 150 million US dollars to establish an electric vehicle assembly factory under the Sri Lanka Board of Investment.

State Minister Amunugama has prepared arrangements to give the necessary approval for all these investment projects within seven days.

This group of investors arrived from Kunming, China at 08.30 pm yesterday and they were welcomed by BOI Deputy Director Manoj Casseer, Board Director Ranjith Dharmasiri and a group of officials at the Katunayake Airport.

News

Arsenic contaminated tinned fish stock to be re-exported

Published

2 hours ago

October 12, 2024

editor

A consignment of canned fish, containing the toxic heavy metal ‘Arsenic’, has been found from the Customs storage complex in Orugodawatte.

In a statement, the Department of Government Information says that the consignment in five containers amounts to USD 215,000.

The toxic canned fish was inspected by the Secretary to the Ministries of Environment, Wildlife, Forest Resources, Water Supply, and Irrigation Prabath Chandrakeerthi yesterday (Oct. 11)

Mr. Chandrakeerthi has said that measures will be taken to re-export the stock instead of being destroyed in Sri Lanka.

“These canned fish were imported in May 2022. This contains toxic heavy metal ‘Arsenic’ beyond the stipulated weight level. Therefore, it is unfit for human consumption. It has been notified as usable as animal feed. As it is unfit for human consumption it clearly cannot be used as animal feed as well,” he said.

Further investigations are underway.

News

Luxury vehicle confiscated after CIABOC probe

Published

3 hours ago

October 12, 2024

editor

The Colombo Magistrate’s Court has ordered the confiscation of a luxury vehicle seized by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC).

Colombo Chief Magistrate Thilina Gamage issued the order following a request made by CIABOC.

It is revealed that the vehicle, a Mitsubishi Montero jeep, belongs to a businessman from the Badulla area.

Investigations had uncovered that the vehicle was imported using falsified information provided to the Customs, resulting in the government being defrauded of more than Rs. 55 million in taxes.