Sri Lanka’s private sector may have to look at models for superannuation and pension schemes in order to cope with the changing macroeconomic fundamentals, as Sri Lanka moves towards the middle-income country status, according to Central Bank of Sri Lanka (CBSL) Governor Ajith Nivard Cabraal.
Sri Lanka’s outstanding foreign commercial loan has jumped 36.2 percent within 18 months through end-June this year, an official document showed yesterday, as the island nation has been increasingly borrowing for post-war infrastructure revival.
Lanka Hospitals today announced that it was adjudged 1st runner up at the CIMA Business Case Awards 2013, for their case study on ‘A Thriving Business Model in the State Sector - the Lanka Hospitals Story.’
UNFCC –COP 19 from 11 -22 in Warsaw Poland is attended by representatives of nearly 200 governments and United Nations Secretary General Ban Ki Moon addressed the plenary sessions on......
Being an island nation, Sri Lanka is blessed with enormous ocean resources, and related opportunities, that can be utilized for the country s economic development. There is a wide array of ocean resources, which include both biological and non-biological components.
Samapth Bank PLC yesterday said its Rs.5 billion debenture issue was oversubscribed and the issue would close at 4.30 p.m.
Budget 2014 is widely deemed to be progressive and consistent with previous targets of reaching middle-income status by 2016, however Sri Lankans must now gear to face new challenges such as current, fiscal and democratic deficits faced by the country, according to Gajma Tax Consultant Senior Partner, N. R. Gajendran.
In Sri Lanka, ‘Cess’ is the name given to a special tax imposed on sales, where the revenue is earmarked for a specific fund with a particular economic purpose. But the government has stymied export promotion and local value addition by ‘stealing’ the Cess. Budget 2014 is poised to further the malpractice.
Oh no, not another article on innovation! Haven’t we heard enough from everyone who claims to be someone, when on stage? Please also don’t feed us another dose of anecdotes extolling how Southwest Airlines, Ritz Carlton or Walt Disney excel at it! No, I won’t.
The main focus of the 2014 budget has been to maintain the growth momentum and stability of the economy as requested by the majority of the public, Finance and Planning Ministry Deputy Secretary to Treasury Dr. S. Batagoda said.
Dunamis Capital PLC, an investment firm connected to the Janashakthi group, said it plans to invest Rs.200 million in a fully-owned subsidiary, namely Premier Synthetic Leather Manufacturers (Pvt.) Ltd, a Board of Investment (BoI) company, manufacturing leather and related products for the local market.
The Sri Lanka Banks’ Association (SLBA) yesterday said the issuance of traveller’s cheques has been stopped with immediate effect.
An appeal to the executive, business and academia, who saw light at the end of the tunnel.
The two state-owned airlines, which share the same Chairman and CEO has reported an operating loss over Rs.16.4 billion during the first half of the financial year 2013/14 despite an increase in the passenger load factor, a Finance Ministry report showed.
Interface Inc., the world’s largest marker of modular carpets for commercial and residential applications may enter Sri Lanka with its plans to start a production facility in India, a top Interface official said.
The 2 percent Nation Building Tax (NBT) extended to banks and financial institutions in the 2014 budget have created some confusion as no explanation has been given so far as to whether the said tax would be applied to the gross turnover or the profits.
Dhammika Perera didn’t become one of Sri Lanka’s richest people by luck. It was actually by design.
Back in 1999, when he was 32, he developed a 20-year plan for his fledgling businesses with the help of a mentor.
They are no longer manning desks in plush offices but are in front of computers located in kitchens, store spaces, living rooms and bedrooms. They work hard but also have time to spend with the children and take care of family chores.
In a bid to attract more companies to the Colombo Stock Exchange (CSE), the Budget 2014 extended the 3-year 50 percent tax holiday from 2014 onwards for new listings.
Central Bank of Sri Lanka yesterday said there are eight distressed finance companies in the country under its off-site and on-site supervision.
Living by its credo of ‘We Care. Always.’ the National Mobile Service Provider, Sri Lanka Telecom Mobitel has introduced another life-style convenient service to its customers called ‘mCash’.
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