India pledges USD 1 Mn for BIMSTEC secretariat to increase operational budget

Indian Prime Minister Narendra Modi on Wednesday announced that India will provide USD 1 million to the ‘Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) secretariat to increase its operational budget.

Addressing the fifth BIMSTEC Summit virtually, PM Modi said, “India will provide the (BIMSTEC) secretariat 1...

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Fire erupts near Colombo Gold Center

A fire has broken out near the Colombo Gold Center in Pettah this afternoon (March 30), Ada Derana learns.

According to reports, the fire brigade has dispatched three trucks to the scene.

The fire has been doused completely....

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Power cut duration to be extended further?

The Ceylon Electricity Board Engineers’ Union (CEBEU) says the duration of interruptions to the power supply will have to be extended in the coming days, as the remaining stocks of fuel required for power generation activities are now running out.

Addressing a media briefing, the CEBEU’s chairperson Anil Ranjith Induwara said the fuel stocks at the...

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Regular trading at CSE temporarily halted twice today

UPDATE: The Colombo Stock Exchange has halted its regular trading for a second time today at 11.10 a.m. after the S-P SL20 index dropped over 7.5% from the previous close.

The S-P SL20 index fell by 266.47 points (7.98%) to 3,071 while the ASPI went down by 508.03 points (5.27%) to 9,139.52.

The halt is lifted at 11.40 a.m.

 

Regular trading...

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Sri Lanka s GDP grows 3.7% in 2021; 1.8% in fourth quarter

Sri Lanka’s year-on-year Gross Domestic Product (GDP) growth rate for the year of 2021 has been estimated as 3.7 percent of positive growth rate, the Department of Census and Statistics says.

According to a communiqué, the department noted that this positive growth comes against the backdrop of a 3.6 percent contraction in the economy reported in...

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Heavy traffic near Town Hall due to protest

Traffic congestion is reported on the road towards Nelum Pokuna Theatre in Colombo due to a protest, says Ada Derana correspondent.

According to reports, a demonstration has been staged against the shortage of fuel at the Ceypetco filling station near Town Hall.

People who queued up at the filling station to obtain diesel have placed cans on the...

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