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Mon, 20 May 2024 Today's Paper
29 Jan 2024 - 1 - 947
Despite a lackluster start, the Colombo Stock Exchange is on track to become one of the top-performing frontier markets. According....
27 Jan 2024 - 47 - 2238
Sri Lanka cannot simply dismiss its engagement with the International Monetary Fund (IMF), President Ranil Wickremesinghe emphasised while citing the complexities that could arise, if a decision is made to do so.
26 Jan 2024 - 2 - 85
President Ranil Wickremesinghe this week expressed unwavering confidence in Sri Lanka’s potential to play a pivotal role in the global confectionery industry. Emphasising the need for local stakeholders to broaden their horizons, he urged concerted efforts to position Sri Lankan chocolates as world-class products, akin to the distinguished reputation of the country’s tea and cinnamon. Speaking at the 30th Annual General Meeting of the Lanka Confe
25 Jan 2024 - 0 - 726
The container throughput at the Port of Colombo experienced a modest recovery in 2023, rebounding from the effects of the economic crisis and political and social unrest of the preceding year.
24 Jan 2024 - 7 - 838
In line with widespread predictions, the Central Bank opted to keep its key policy rates unchanged at 9 and 10 percent during its inaugural Monetary Policy announcement for the year.
23 Jan 2024 - 5 - 1291
Sri Lanka’s largest industrial exporter, the apparel sector, saw its performance for the whole of 2023 dip significantly, with its earnings contracting by 19 percent year-on-year (YoY).
22 Jan 2024 - 0 - 148
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 - 721
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 - 82
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 - 184
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 - 2941
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 - 1192
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 - 172
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 - 94
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 - 761
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 - 2335
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 - 80
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 - 119
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 - 2878
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 - 2166
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 - 129
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 - 188
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 - 156
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 - 154
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 - 126
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 - 144
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 - 1135
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 - 334
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 - 189
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.
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