ECONOMYNEXT – Sri Lanka and India’s shared past, shared heritage and strong cultural ties create “a herbal warmth” in their relations, said Indian High Commissioner Santosh Jha.
“For us, as close neighbors, cooperation is the only option. This is achieved only through selection and opportunity,” Jha said at the India-Sri Lanka Defence Seminar held in Colombo on Wednesday.
“Our arrival in Sri Lanka is guided by our neighbourhood-centric policy and our SAGAR vision. This means that we share with our closest neighbors what we can according to their desires and aspirations. It also means that our arrival remains generous and not reciprocal. .
India looks forward to bidding with Sri Lanka to advance our joint effort to further deepen our defence cooperation, the High Commissioner said.
Ayubowan, Namaskaar, hello
I welcome you to the Defence Cooperation Seminar between India and Sri Lanka that we are organising in Colombo. Thank you all for coming. My deep thanks to His ExcellencyMinister of State, Mr. Tennekoon, for your presence here today.
I will also have to thank the Sri Lankan Chief of Defence Staff and the commanders of the air force and army for their kind presence. We appreciate the assistance provided through the Sri Lankan Ministry of Defence. We look forward to running with our Sri Lanka friends to advance our joint efforts to further deepen our defence cooperation.
I am also grateful for the presence of the Indian delegation led by the Additional Secretary of the Ministry of Defence. He heads a giant and highly varied delegation from the Indian defence industry, comprising some primary entities of the Indian defence public sector and a wide range of private sector personnel. commercial actors.
Our shared civilizational past, our shared heritage, and our strong cultural ties create a natural warmth and convenience in our relationships with others. For us, close neighbors, cooperation is the only option.
Our aid to Sri Lanka in recent years, the Covid pandemic and the economic crisis, has been driven by our sense of duty and legal duty towards our closest friend and neighbour. We stood shoulder to shoulder with our civilization twin, when we needed it to the fullest. And without hesitation. Many of you will agree that India is and will remain the most trustworthy friend and trustworthy partner.
We are now cooperating in wider areas, adding infrastructure and connectivity, deeper economic engagement, industry and investment, culture and education, tourism, and people-to-people linkages.
We have invested and progressed and encouraged the use of new-age innovation and technologies to build future-proof capabilities.
Our efforts have paid off over the past decade. India’s defense industry today deploys world-class systems, technologies, and equipment. To name a few, that diversity, from fighter jets and helicopters to warships, electronic warfare systems to cybersecurity solutions and small arms. to large-caliber and long-range precision artillery systems.
In this effort, we have built on our 16 public defense sector companies, which shape the backbone of our defense business complex, and complemented their efforts with increased participation from the personnel sector. Our Innovations for Excellence in Advocacy or iDEX initiative is also helping us in our roles. in critical and strategic technologies to bridge the gap between the expectations and needs of fashionable armies by fostering a colorful defense innovation ecosystem.
The gigantic delegation of the Indian defence industry further underlines our strong commitment to strengthening trade cooperation in the defence sector in Sri Lanka. We will also showcase the complex platforms and apparatus that allow the Sri Lankan Armed Forces to familiarize themselves with the functions developed locally in India. We are confident that those answers can also become viable, affordable and fashionable answers for the Sri Lankan military.
Shipment. . .
Shipment. . .
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ECONOMYNEXT – Sri Lankan Customs will temporarily reclaim goods from this month and begin pre-arrival processing of imported goods as part of a pilot mission starting in May, Additional Director General Sudatta Silva said.
“It’s still in the progression phase,” Silva told EconomyNext. “If the pilot is successful, we may not launch it until the end of June. “
Currently, ships arriving in Sri Lanka must claim shipment upon arrival in territorial waters.
“We plan to get data on the shipment 48 hours before the shipment leaves the foreign port,” Silva said. “This way we can do our homework faster. “
“This way we can assess the hazards and see if it’s a low, medium or high risk. “
Sri Lankan Customs can then initiate the clearance and documentation procedure before the vessel reaches Sri Lankan territorial waters.
Pre-declaration of goods begins in April and pre-arrival processing is expected to begin on May 1.
The pre-arrival declaration and pre-freight allocation supported through the German GIZ (Colombo/April 10, 2024)
ECONOMYNEXT – The Sri Lankan rupee closed Wednesday at 298. 50/55, consistent with the U. S. dollar in spot FX trading, down from 298. 60/65 on Tuesday, traders said, while bond yields were broadly flat.
A bond maturing on 15. 12. 2026 closed at 11. 30//35 per cent and 11. 30/40 per cent.
A bond maturing on 15. 09. 2027 closed at 11. 90/12. 00 per cent, at 11. 85/12. 00 per cent.
A bond maturing 15. 12. 2028 closed at 12. 10/15 per cent, at 12. 05/15 per cent.
A bond maturing on 15. 09. 2029 closed at 12. 20/40 per cent, compared to 12. 20/30 per cent.
A bond maturing on October 1, 2032, closed at 12. 30/50 percent, up from 12. 40/55 (Colombo/April 10, 2024).
ECONOMYNEXT – The Colombo Stock Exchange closed on Wednesday, according to its website.
The broader All Share index closed up 0. 59 percent, or 70. 61 points, at 12,033; while the index S
Turnover amounted to €2. 9 billion. Banks contributed the maximum value, Rs 1. 7 billion.
Sampath Bank Plc was the most traded inventory with a profit of Rs 1. 4 billion. Inventory closed at 81:00.
“There has been a lot of buying interest from banks,” market participants said.
Commercial Bank of Ceylon Plc rose to 111. 50, Hatton National Bank Plc rose to 203. 50, National Development Bank Plc rose to 78. 20 and DFCC Bank Plc closed at 83. 00.
Ambeon Capital Plc, which announced adjustments to its board of directors, closed at 10:10 a. m.
Hayleys Fabric Plc, which renewed interest, closed at 11:80 p. m.
LOLC Holdings Plc rose to 412. 00 and its subsidiary LOLC Finance Plc rose to 5. 80.
There was a net outflow of $15 million. (Colombo/April 10, 2024)
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