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Sat, 11 May 2024 Today's Paper
22 Jan 2024 - 0 - 147
Sri Lanka’s reform initiatives garnered positive feedback from the visiting International Monetary Fund (IMF) team during their recent routine assessment. However, despite this encouraging development....
20 Jan 2024 - 18 - 718
Leveraging the effectiveness of the Central Bank of Sri Lanka on the control over inflation, the International Monetary Fund (IMF) emphasised the importance of maintaining a prudent approach in future monetary policy decisions.
19 Jan 2024 - 1 - 78
The Committee on Public Finance (COPF) slammed the Ministry of Finance and the Inland Revenue Department for failure to collect foregone taxes from major corporations connected to the sugar scam as outlined in the forensic report by the
18 Jan 2024 - 0 - 176
The Ceylon Tea cuppa is expected to face short-term constraints as it steers through 2024 but the regulatory initiatives and global trends are expected to shape the industry’s outlook, the tea brokers said. The enforcement of the B60 programme, which mandates the tea growers and manufacturers to adhere to enhanced standards for green leaf production, is anticipated to temporarily constrain the availability of tea, according to the insights from
17 Jan 2024 - 15 - 2918
Tourist arrivals to Sri Lanka crossed the 100,000 milestone within the first 15 days in January, signaling a remarkable spike in global interest in the island nation.
16 Jan 2024 - 2 - 1186
The banks are set to receive guidelines for the establishment of business revival units, aimed at assisting the small and medium enterprises (SMEs) affected by the recent crises.
13 Jan 2024 - 0 - 167
The Central Bank will review the remaining restrictions on the outflows from the capital account and gradually start lifting them by taking into account the domestic market foreign exchange liquidity condition improvement. “With the observed improvements in the liquidity position of the domestic foreign exchange market, the Central Bank would review the existing restrictions on certain capital foreign exchange outflows on a priority basis, with a
12 Jan 2024 - 0 - 91
The government expressed confidence in the International Monetary Fund (IMF) exhibiting flexibility by overturning the elimination of VAT exemption for Destination Management Companies (DMCs)
11 Jan 2024 - 10 - 757
The Central Bank yesterday said it does not see the need to change the course of the current monetary policy path set off in June last year, as inflation remains well anchored, despite the near-term blips in the price indices, due to the recent hike in the Value Added Tax.
10 Jan 2024 - 3 - 2325
The Port of Colombo is experiencing a surge in transshipment container volumes as it emerges as a transit point in the short term for major shipping lines to reroute their vessels around the Cape of Good Hope, a move opted to avoid disruption to shipments following the recent attacks on vessels in the Red Sea.
09 Jan 2024 - 0 - 79
Japan, one of Sri Lanka’s main creditors, asserted the need for Sri Lanka to speed up efforts in inking the memorandum of understanding (MoU) with its creditor nations on debt restructuring at the earliest.
08 Jan 2024 - 0 - 116
Business in Jaffna is expected to receive a fresh boost this year with President Ranil Wickremesinghe assuring that their grievances will be addressed without fail. Wickremesinghe....
06 Jan 2024 - 21 - 2870
The International Monetary Fund (IMF) would evaluate Sri Lanka’s economic progress next week, with a team of officials expected to arrive in the country, the Finance Ministry said.
05 Jan 2024 - 8 - 2163
Public funds would only be utilised as the last resort to meet the recapitalisation requirements of the banking sector to ensure stability within the financial system, the Central Bank said.
04 Jan 2024 - 0 - 128
Sri Lanka’s exporters are entering the new year with several concerns, National Chamber of Exporters (NCE) President Jayantha Karunaratne said, since given the current status of the local and global economic conditions, it is clear that the challenges are many. “It’s a challenging year. It will be challenging due to many reasons. As exporters, we find that the local costs have gone up significantly, which has increased our operational costs. Now
03 Jan 2024 - 0 - 184
Sri Lanka has bounced back and stands firm among the top emerging economies for investment, a globally renowned investor....
02 Jan 2024 - 1 - 93
CNN: Maersk has imposed a 48-hour delay on its vessels moving through the Red Sea, following an attack on one of its merchant ships by Iranian-backed Houthi fighters based in Yemen. The US military said its helicopters responded to distress calls from the vessel — the Maersk Hangzhou — on Sunday and sank three boats operated by the Houthis, killing those aboard. A fourth boat fled the area, it said. The Danish company said in a statement that all
01 Jan 2024 - 1 - 154
The Central Bank recently asserted that banks’ right of parate execution must not be amended in favour of an insignificant number....
31 Dec 2023 - 0 - 149
With revisions to the Value Added Tax (VAT) coming into effect from 1 January, telecom giant Dialog Axiata has notified its consumers of the increases that will be seen in their monthly bills.
30 Dec 2023 - 0 - 123
The Central Bank is bracing for an upcoming expansionary credit cycle, driven by the initiation of relaxed monetary policy measures, as the effects of consecutive policy rate cuts, targeted initiatives to expedite monetary policy transmission and a subdued inflation environment are gradually contributing to the easing of financial conditions.
29 Dec 2023 - 0 - 142
Sri Lanka’s merchandise export performance appeared to gain momentum in November compared to the previous month, signaling a potential turnaround, particularly with positive growth seen in the apparel export sector. Merchandise exports in November reached US$ 968.8 million, up 4.4 percent compared with the previous month’s performance.
28 Dec 2023 - 6 - 1130
Procuring IT services and solutions is going to get expensive, with the Value Added Tax (VAT) coming into effect from January 1 and could create unfairness within the industry, the Sri Lanka Association for Software and Services Companies (SLASSCOM) cautioned.
27 Dec 2023 - 0 - 327
The imposition of an 18 percent Value-Added Tax (VAT) on Sri Lanka’s gem and jewellery sector poses a threat to its sustainability....
23 Dec 2023 - 0 - 187
Sri Lanka’s banking fraternity yesterday expressed serious concerns on certain segments of the business community advocating for the removal of parate execution, cautioning that any such move would weaken the value of depositors’ funds.
22 Dec 2023 - 17 - 2326
As the government is leaving no stone unturned to increase tax revenue, experts in the field asserted that while doing away with Value Added Tax (VAT) exemptions is necessary, the authorities couldn’t have picked a worse time to implement the policy.
21 Dec 2023 - 7 - 1302
The Tea Exporters Association (TEA) yesterday expressed grave concern over the introduction of the 18 percent Value Added Tax (VAT) on the industry and the practical issues it is bound to create, unless a mechanism is put in place to ensure the seamless functioning of the tea value chain, in light of the VAT issue.
20 Dec 2023 - 0 - 1057
Despite a modest rebound in the overall economy in the third quarter, Sri Lanka’s construction sector, a crucial segment known for generating significant employment across all levels, has continued to contract.
19 Dec 2023 - 0 - 520
Banks extended Rs.37.9bn in net credit to private sector in Oct., compared to Rs.70bn in Sept.
18 Dec 2023 - 6 - 837
For businesses and investors consistently concerned about the lack of predictability in tax rates and interest rates, Central Bank Governor Dr. Nandalal Weerasinghe had a straightforward response—what they perceive as predictability may not align with reality.
16 Dec 2023 - 0 - 125
Sri Lanka has emerged from a nearly two-year recession that had impacted the economy and its people as the gross domestic product for the third quarter of 2023 recorded a 1.6 percent growth from the same period a year ago.
7 hours ago