News

Port City duty-free business: Minimum investment laid down

Published

7 months ago

October 29, 2023

editor

Investors wishing to start duty-free retail business operations and duty-free shopping mall operations at Colombo Port City will be required to bring in a minimum investment of USD 5 million and USD 7 million, respectively.

This is in terms of new regulations gazetted by the Colombo Port City Economic Commission (CPCEC).

In addition to an investment of USD 5 million, investors looking to start a duty-free retail business will also be required to satisfy the CPCEC that they have access to a range of high-quality luxury retail brand products.

Prospective business investors will have three years to fulfil the requirements needed for them to be given tax exemptions lasting up to 20 years.

News

Fmr. Army Chief joins SJB

Published

11 mins ago

May 17, 2024

nipuni

Former Army Commander Retired General Mahesh Senanayake has joined with the Samagi Jana Balawegaya (SJB).

In a Facebook post, party leader Sajith Premadasa said that the Former Army Chief joined the SJB to support the program to rebuild Sri Lanka.

Mr. Premadasa had appointed General Mahesh Senanayake as the Chief of the Samagi Ranaviru Balawegaya.

News

Colombo HC sentences 9 Pakistani drug traffickers to 10 years in prison

Published

1 hour ago

May 17, 2024

nipuni

Nine Pakistani nationals, who were arrested on charges of smuggling a large cache of drugs, have been sentenced to 10 years in prison by the Colombo High Court.

During a joint operation carried out by the Police Narcotics Bureau (PNB) and the Sri Lanka Navy on January 01, 2020, the Pakistani nationals were apprehended while transporting 614 kg of ‘Ice’ (Crystal Methamphetamine) and 581 kg and 34 grams of suspected drugs by boat.

The report of the Government Analyst has confirmed that the seized parcels contained over 491 kilograms of ‘Ketamine’ drugs and nearly 472 kilograms of ‘Ice’ (Crystal Methamphetamine).

The accused pleaded guilty to the charges when the case was taken up before the court, and were subsequently sentenced to 10 years in prison, police said.

Furthermore, the police mentioned that measures are underway to extradite the suspects to Pakistan in order to serve their sentences.

(adaderana.lk)

(This story, originally published by adaderana.lk has not been edited by SLM staff)

News

Uni. exams postponed due to non-academic staff strike

Published

1 hour ago

May 17, 2024

nipuni

The University Grants Commission said all examinations of undergraduate students in universities have to be postponed, due to the ongoing strike launched by the university non-academic trade unions.
UGC Vice Chairman Senior Prof. Chandana P. Udawatte said as a result, over 50,000 undergraduates will not be able to complete their degree within the planned timeframe.

He said the issuance of the university admission manual, which includes the details on how to apply for degree courses, for those who pass the Advanced Level Examination, was also delayed due to the strike action.

Prof. Udawatte said the Minister of Education has already submitted the necessary proposals to the Cabinet to resolve the issues of the university non-academic staff.

However, Co-Convener of the University Trade Union Alliance Dhammika S. Priyantha said the strike will continue indefinitely until favourable solutions are provided to their demands.

The strike is ongoing for the 16th day.

(News1st)