Govt. imposes capital gains tax barring listed shares

The government has surreptitiously re-introduced the capital gains tax (CGT) under the new Inland Revenue Act, which was passed in Parliament last week, but it will not apply on the gains made from share sales of listed companies.

August tourist arrivals up 2.5%, Chinese market slows

Slower than  usual tourist arrivals from East Asia led by the key Chinese market weighed in on the total arrivals in August to Sri Lanka, but visitors from South Asia made up for the shortage with higher number of Indians visiting its neighbouring island.

Recurrent price hikes push Ceylon Tea to niche category

Ceylon Tea has shifted to the niche category, which is less that 20 percent of the global tea trade, due to recurrent price hikes at the Colombo tea auctions owing to short supply, the head of a listed tea exporting company in the country said.

Mano Sekeram resigns from BOC board after short stint

IT industry professional Mano Sekeram has resigned from the board of directors of state-owned Bank of Ceylon (BOC) with effect from September 5th, 2017, citing personal reasons.

Malaysia’s Axiata to buy Pakistan telecom towers firm for US $940mn

REUTERS: Malaysian telecommunications firm Axiata Group’s infrastructure unit is buying telecom towers in Pakistan for US $940 million in partnership with a local conglomerate, in what will be one of the biggest deals in the South Asian nation.

Tea Board Chairman to deliver keynote at 163rd Planters’ Association AGM

The 163rd annual general meeting (AGM) of the Planters’ Association of Ceylon, one of the plantation sector’s most important gatherings, is scheduled to take place at Galadari Hotel, Grand Ballroom, on September 22, 2017. 

CCC’s Sri Lanka-Pakistan Business Council hosts Lahore Chamber delegation

The Sri Lanka-Pakistan Business Council of the Ceylon Chamber of Commerce (CCC) hosted a delegation from the Lahore Chamber of Commerce and Industry (LCCI) recently.

Eran to speak at CCC seminar on new Inland Revenue Act

The Ceylon Chamber of Commerce (CCC) will hold a seminar on the newly passed Inland Revenue Act today, which will be addressed by Finance State Minister Eran Wickramaratne.

SLID to converse with Anjana on ‘moving an idea to execution’

On Thursday, September 21, 2017, the Sri Lanka Institute of Directors (SLID) will chat with Anjana Reddy, who will be sharing her journey as a young fourth generation female entrepreneur who ventured out of the family business and successfully built three clothing brands and was named in the Forbes’ magazine’s 2017 list of 30 under 30. 

Dr. Tan to give keynote at ABAF 2017

Former Singularity University Ambassador Dr. Clarence Tan will be giving the keynote address at Asian Business Angel Forum (ABAF) 2017, to be held in Sri Lanka for the first time on October 11, 2017.

EDB to present 21st Presidential Export Awards

The 21st Presidential Export Awards (PEA) organised by the Sri Lanka Export Development Board (EDB) will be held on Thursday, September 14, 2017, at 10:00 a.m., at the Bandaranaike Memorial International Conference Hall (BMICH). 

Bangladesh calls for FTA next year

As Sri Lanka-Bangladesh trade continued its steady climb, a top Bangladeshi Minister has recently issued a high-level call for a speedier Free Trade Agreement with Sri Lanka, to conclude as early as next year. 

World tourism numbers post biggest first-half rise since 2010: UN

AFP: International tourist numbers grew 6.4 percent in the first half of 2017, the strongest half-year figures in seven years, with Mediterranean destinations posting double-digit growth, the UN World Tourism Organisation said this week.

China’s fifth-largest bank downgraded to junk status

AFP: China’s fifth-largest state-owned bank has had its credit rating downgraded to junk status by Moody’s, the latest sign of fragility in the country’s financial system.

Euro presses higher against dollar, Asia markets cautious

AFP:  The euro extended its gains in Asian trade yesterday as traders bet on the European Central Bank winding in its huge stimulus programme, while equity markets ended a volatile week mostly in the red.

Corruption fuelling ivory trade in Central Africa: study

AFP: Sophisticated international trafficking of ivory in Central Africa is being fuelled by high levels of corruption, according to a report published Thursday.

Rupee ends weaker on importer dollar demand

REUTERS:  The Sri Lankan rupee ended marginally weaker yesterday as importer dollar demand outpaced selling of the U.S. currency by exporters and banks, dealers said. 

Kirklees Estate sets all-time record price for tea

At the Colombo Tea Auction of 6th September 2017, Kirklees Estate had the proud distinction of establishing an All Time Record Price of Rs.700 for a Dust No-1 Grade in the Uda Pussellawa category. This line of tea was purchased by M/s. Watawala Tea Ceylon Limited. 

EU and UNOPS hand over flood control facilities to Mannar

In a recent ceremony organized in Mannar, the European Union and United Nations Office for Project Services (UNOPS) officially handed over new and renovated infrastructure critical for flood control within the Mannar Urban Council Area.

World Suicide Prevention Day public awareness walk tomorrow

Her best friend ended her life one day and Sarani* couldn’t believe it. “I told everyone that it must be an accident, I was lying to myself too. She never said anything, she wasn’t that type of person. I felt guilty too. How could I have not known? I could have saved her.”

NDB takes a pivotal role in advancing careers of English teachers

NDB as a responsible corporate believes that sustainable initiatives will help the nation in the long term. Therefore, NDB continues its efforts to empower Sri Lankan lives across the country through multiple projects that place emphasis on issues that are critical for sustainable economic growth and the future success of the nation as a whole. 

AmãnaTakaful comes to the rescue of sunken vessel off Hambanthota port

Amãna Takaful with a rich history of over 18 years in the Sri Lankan insurance industryhas been the pioneer of the ‘Takaful way’ and has been instrumental in introducing many ‘one of a kind’ insurance 

September 10th is World Suicide Prevention Day: let loved ones know you care

Her best friend ended her life one day and Sarani* couldn’t believe it. “I told everyone that it must be an accident, I was lying to myself too… she never said anything, she wasn’t that type of person.

Fairway National Literary Awards 2017 - Shortlist Announced!

13 novels from the three language categories to contend for the Fairway National Literary Awards

SAW Engineering emerge victorious at CNCI Achiever Awards

With over a decade of proven, evolving experiences and innovation both locally and internationally in the engineering sector having won many prestigious accolades and titles, SAW Engineering yet again 

DFCC Bank opening of a full Service Branch in Morawaka

DFCC Bank opened the doors of its newest fully-fledged branch in Morawaka to enhance access for customers in the area. Located at Isuru Towers, Deniyaya Road, the new DFCC Morawaka Branch 

Listed company earnings slow in 2Q amid weaker consumer demand

Sri Lanka’s listed companies saw their earnings growth slowing during the most recent quarter as corporate performance across most sectors was hurt by weaker consumer demand and slowing economy.  

Sri Lanka passes reforms intended to simplify taxes, increase revenue

REUTERS: The Sri Lanka parliament passed tax reforms yesterday that should simplify the tax system, widen the tax base and increase government revenue, as agreed with the International Monetary Fund (IMF) in exchange for a US $ 1.5 billion, three-year loan.

Huawei surpasses Apple for first time to capture second spot globally

According to the latest research from Counterpoint’s Market Pulse for July 2017, Huawei has surpassed Apple in global smartphone sales consistently for June and July. 

Colombo eyes largest port status in Indian Ocean

The Colombo Port could end up sprawling up to Ja-Ela, over 10 kilometres away from Colombo’s city limits, under the North Harbour project to make the Sri Lankan capital the largest port in the Indian Ocean, Prime Minister Ranil Wickremesinghe buoyantly said yesterday.