The Supreme Court yesterday concluded arguments put forward in support and against the proposed Special Goods and Services Tax Bill.

Improved demand from the region and enhanced capacity have helped Teejay Lanka PLC to post group revenue of Rs.36.1 billion for the nine months ending on December 31, 2021 and record a strong top line growth of 64 percent over the corresponding perio

Hemas Holdings PLC reported strong top and bottom line performances for the three months ending on December 31, 2021 (3Q22), recovering from the brief setback seen in the previous quarter amid improved consumer activity.

Flydubai has started operating three daily flights between Dubai and Colombo on all days of the week except Tuesday, with effect from February 1 .

Though the efforts to replace the current Tourism Act with a new one had picked up pace in recent months, the private sector stakeholders have continued to raise the red flag against the move, as it will remove the private sector tourism industry sta

First Capital Research (FCR) expects the Central Bank to deliver two more rate hikes this year – one during the first half of 2022 and another in the second half, each with the size of at least 50 basis points to stabilise the economy reeling from

According to the Transparency in Corporate Reporting Assessment (TRAC) 2021 publication compiled by Transparency International Sri Lanka (TISL), companies in Sri Lanka have been deemed to be moderately transparent in corporate reporting. The TRAC re

REUTERS: Sri Lankan shares extended losses to a second straight session yesterday, sliding more than 2 percent, as industrial and financial stocks fell.

Contrary to the wider-held belief that 2022 would be the recovery year for travel and tourism sector, a survey by the World Economic Forum (WEF) revealed that the sector will not witness a full recovery until 2024.

The Cabinet has cleared the draft Surcharge Tax Bill, which would impose a one-off 25 percent surcharge tax on individuals or companies with over Rs.2 billion income for the 2020/2021 financial year. Finance Minister Basil Rajapaksa sought the approv

The government has decided to call fresh proposals to procure emergency power from the private sector in order to prepare for a deficit in the power generation capacity at the peak of drought season in March this year.

The Cabinet has green-lighted a proposal to purchase 40,000MT diesel shipment from Indian Oil Company (IOC). Energy Minister Udaya Gammanpila on Monday sought the approval of the Cabinet of Ministers to purchase the diesel shipment after reaching int

Cargills (Ceylon) PLC’s sales and profits rebounded during the December quarter (3Q22) from a brief setback seen in the previous three months through September 2021 as virus-related restrictions ended enabling the retail juggernaut to brace a perio

The Cabinet nod has been given to procure 450,000 barrels of crude oil for Sapugaskanda oil refinery under a 180-day credit line from Cyprus-based Terra Nevis Group.

Nine Special Determination petitions filed challenging the constitutionality of the bill titled ‘Special Goods and Services Tax’ were fixed yesterday for today (Feb.2) for further hearing by the Supreme Court. President’s Counsel Sanjeewa Jayaw

Tourist arrivals to the country contracted from the numbers achieved in December despite several promotional efforts taken up by tourism authorities to promote destination Sri Lanka.

The government has commenced groundwork to secure US$ 200 million credit line extended by the Government of Pakistan while a US$1 billion credit line from India is expected to materialise next week.

Kelani Tyres PLC yesterday said it would invest up to Rs.3.2 billion to increase its tyre manufacturing capacity and upgrade its machinery.

Sri Lanka’s consumer prices hit a 13-year high in January, as the country continues to grapple with import restrictions, foreign exchange shortages and failed harvests.

The Urban Development Authority (UDA) is gearing to call requests for proposals (RFPs) for a high-rise mixed development project on the Chalmers Granaries land, which is now branded as ‘Golden Gateway to Port City’, seeking US $ 1 billion investm

The electricity sector regulator, the Public Utilities Commission of Sri Lanka (PUCSL), yesterday said a proposal put forward by the Ceylon Electricity Board (CEB) to interrupt power would not be allowed until February 4, 2022.

The PUCSL will hold another round of talks with private and public sector parties that have the estimated capacity of generating up to 300MW via the generators in their possession.

The Central Bank yesterday said the country’s non-bank financial institutions (NBFI) sector has seen “significant improvement” in terms of regulatory capital requirements, as a result of its Masterplan for Consolidation of Non-Bank Financial In

Sri Lanka’s consumer durables industry is expected to face fresh headwinds from weaker consumer sentiments, lower disposable incomes amid acceleration in inflation and the potential for further tightening of import controls amid the foreign currenc

The balance of payment (BOP) deficit continued to widen from its previous high, as the 11-month deficit in 2021 reached a record US $ 3,674 million, reflecting the continuous bleeding of foreign exchange in the country’s dealings with the rest of t

The government is targeting US$ 15 billion from merchandise exports for this year as such earnings in 2021 reached an all-time high crossing the US$12 billion mark for the first time in a challenging year.

Expolanka Holdings PLC continued to push its limits as the logistics giant delivered another record high top and bottom line performance for the quarter ended December 31, 2021 (3Q22), on its core business which had been growing at a blistering pace

Trade Minister Bandula Gunawardane is seeking the President’s intervention to secure the cess revenue from international trade to fund export development programmes, which are critical to meet the country’s export targets.

The Ambassador of the EU Delegation in Sri Lanka, Denis Chaibi together with Chairperson of Sri Lanka Tourism, Kimarli Fernando, launched the initial stage of the island’s first ever long distance walking trail, with the unveiling of the signage at

The container throughput at the Port of Colombo hit an all-time high of 7.25 million TEUs recording growth of 5.84 percent in 2021 over the previous year, Sri Lanka Port Authority (SLPA) data showed.