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Port City Colombo breaks ground for premier business park

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The Port City Colombo yesterday (12) had its ground breaking ceremony for its premier business park, the Business Center. 

The Port City Colombo project, touted as the largest Public-Private Partnership (PPP) and Foreign Direct Investment (FDI) venture in Sri Lanka’s history, positions the nation as a prominent player in the region’s technology and commerce sectors. 

The project aims to create a dynamic space for knowledge exchange and innovation, drawing top talent from across South Asia.

The groundbreaking ceremony also marked the official welcome of Authorized Persons (APs) to operate within the Port City Colombo Special Economic Zone, further enhancing the project’s strategic importance.

Speaking at the ceremony, representatives from Port City Colombo highlighted the Business Center’s role as a catalyst for growth, innovation, and collaboration. 

They extended invitations to investors and global corporations to capitalize on the strategic advantages offered by the hub located at the heart of South Asia.

The event was graced by notable dignitaries including Prime Minister Dinesh Gunawardena, the Ambassador of the People’s Republic of China to Sri Lanka Qi Zhenhong, State Minister of Investment Promotion Dilum Amunugama, Chairman of the Colombo Port City Economic Commission Dinesh Weerakkody, and the Managing Director of CHEC Port City Colombo (Pvt) Ltd.

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Forests on state lands to be designated as reserves

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The Ministry of Environment has decided to designate several forests located on state owned lands as official forest reserves.

Deputy Minister – Anton Jayakody has stated that such forests, each spanning 05 hectares or more, have been identified in every district.

Special priority will be given to designating forest reserves on mountain peaks.

In the first phase, 20 forests in districts including Monaragala and Ampara have been selected under the new program named ‘Vanaspathi’,  he said.

He further said the initiative aims to protect these forest areas and expand the country’s forest cover.

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No cases filed against 22 banned pyramid schemes – CBSL

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Although the Central Bank of Sri Lanka (CBSL) has banned 22 institutions operating illegal pyramid schemes, no legal action has been taken against any of them so far, according to reports.

This was disclosed during a workshop held at the CBSL yesterday (July 08) on the dangers of pyramid schemes.

According to CBSL officials, after initial investigations, the files were handed over to the Criminal Investigation Department (CID) for further inquiry.

The CID’s Financial Crimes Unit has reportedly completed its investigations and submitted findings to the Attorney General’s Department, which is responsible for filing cases.

However, it was noted that not a single case has been filed to date.

The CBSL states that investigations will be continued against companies engaged in these illegal practices and hopes at least one or two such cases would be filed by the end of this year or early next year (2026).

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NPP’s Nishantha Jayaweera sworn in as MP

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U. D. Nishantha Jayaweera was sworn in as a National People’s Power (NPP) National List Member of Parliament before the Speaker of the House – Dr. Jagath Wickramaratne, today (July 09).

He fills the Parliamentary seat left vacant following the resignation of Dr. Harshana Suriyapperuma last month.

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