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SL halts canned fish imports

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In a move aimed at bolstering the domestic canned fish industry, Minister Douglas Devananda has directed a temporary halt on imports of canned fish from abroad, effective immediately. 
The announcement came after a discussion held today between the Minister and representatives of the Canned Fish Producers Association.

Minister Devananda emphasized the need to support local businesses and create a favorable environment for their growth. 

He instructed the Director General of the Fisheries Department, Susantha Kahawatta, to implement the import suspension effectively. 

The Canned Fish Producers Association welcomed the decision, highlighting the challenges faced by local businesses due to foreign competition. 

They pointed out that imports of approximately 8,000 tons of canned fish in recent months had significantly impacted domestic sales.

Additionally, the Association expressed concerns about the decreasing prices of imported canned fish compared to local products.

Furthermore, the Association emphasized the impact of government-imposed taxes such as VAT and CESS, which they claim put further strain on their operations and threaten factory closures.

Minister Devananda also instructed the Secretary of the Ministry to investigate the feasibility of imposing an additional levy on imported canned fish. 

(newsfirst.lk)

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Adani decides to withdraw from wind energy project in SL

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Adani Green Energy has decided to withdraw from its proposed wind energy project in Mannar, Sri Lanka.
The company has conveyed this decision in a letter addressed to the chairman of Sri Lanka’s Board of Investment.

“It was learnt that another Cabinet appointed negotiations committee and Project Committee would be constituted to renegotiate the project proposal,” the company wrote in a letter, a copy of which was seen by Reuters, addressed to the chairman of Sri Lanka’s Board of Investment.

“This aspect was deliberated at the Board of our company and it was decided that while the company fully respects the sovereign rights of Sri Lanka and its choices, it would respectfully withdraw from the said project,” the letter added.

Adani Green Energy is a part of Indian billionaire Gautam Adani’s Adani Group.

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AG withdraws recommendation on Lasantha murder suspects

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The Attorney General has informed Mt. Lavinia Magistrate’s court that the recent recommendation made by him regarding the suspects involved in the murder of Sri Lankan journalist – Lasantha Wickrematunge will be suspended temporarily.

The AG has informed the Court of this in writing today (Feb. 13).

In a letter sent to the Director of the CID on Jan. 27, the Attorney General had previously provided his legal advice, regarding the release of three individuals.

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UAE – SL reaches agreement to strengthen economic & investment relations

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Coinciding with the President’s three-day official visit to the United Arab Emirates (UAE) to attend the World Governments Summit 2025, Sri Lanka and the UAE reached an agreement on Reciprocal Promotion and Protection of Investments to strengthen economic and investment relations between the two countries.

The agreement was signed by Mohamed Bin Hadi Al Hussaini, UAE’s Minister of State for Financial Affairs, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs.  

This bilateral agreement establishes a secure legal framework to expand investment opportunities in global markets while ensuring the protection of foreign investments.  

The purpose of this agreement is to facilitate and strengthen foreign investments between the two nations by ensuring investor rights protection, promoting economic cooperation, and establishing comprehensive investment protection mechanisms, dispute resolution frameworks, and policy structures. This agreement will also contribute to strengthening global economic partnerships and creating opportunities for exploring new investment prospects in Sri Lanka.

This agreement underscores the importance of bilateral economic development and financial stability while demonstrating the commitment of both the United Arab Emirates and Sri Lanka to strengthening economic cooperation. It aims to foster trade and business expansion in Sri Lanka while promoting a transparent and stable investment environment.

Furthermore, this agreement also highlights Sri Lanka’s commitment to enhancing Foreign Direct Investment (FDI) and fostering a more attractive investment landscape. By enhancing investor confidence, it is expected to generate new business opportunities and contribute to economic progress.  

Ultimately, this agreement will reinforce the long-term partnership between the UAE and Sri Lanka, facilitating sustainable investments and advancing trade and financial collaborations between the two countries.  

(President’s Media Division)

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