Economic
Finance Minister Ali Sabry has issued a new Gazette effective 20 May banning use of Open Account for imports except by the overall export sector including indirect exporters.
SL Tourism Chief confirms the global marketing blitz is finally done after painstaking 1.5 years, but will be rolled out at appropriate time
Says Cabinet approval will be sought for Creative, Digital and Campaign Management agencies for which payment is mainly in rupees
8 Destination Representative Companies and 8 Public Relational Companies will be appointed subject to Cabinet approval
CB revisits pandemic era playbook to preserve capital and liquidity of sector
CB brought in similar styled restrictions for second time since March 2020
Also asks banks to refrain from buying back their own shares, increasing management allowances and payments to director boards
Foreign banks been barred from repatriating profits, which are not already declared for financial years 2021 and 2022
Waning demand for economically and socially instable SL a key reason
Curtailment by airlines also to minimise future losses with over $ 100 m of old dues pending repatriation for six months due to forex crisis
Board of Airlines Representatives seeking meetings with CBSL and Treasury to resolve impasse
SriLankan Airlines Ltd., said yesterday it welcomes and respects the rich debate in the public space on matters concerning the Operation of the Airline in General and the ‘Notice of Procurement’ for the Lease of Aircraft in specific. The Board and Management are of the opinion that the discussion on these topics would benefit from more full information.
ශ්රී ලංකාව තුළ මේවනවිට පවතින ලියාපදිංචි නොකළ වාහන ප්රතිඅපනයනය කිරීම මගින් මෙරටට විදේශ විනිමය කඩිනමින් උපයාගත හැකි බව ආර්ථික විශ්ලේෂකයින් පවසනවා.
මෙරට බලපත්රලාභී වානිජ බැංකු කිහිපයකම දෛනික විනිමය අනුපාතික සටහන්වලට අනුව එක්සත් ජනපද ඩොලරයක විකුණුම් මිල රු. 375 ක් ලෙසින් අද (05) දිනයේ වාර්තා කර ඇත.
Provisional data show US $ 1.7bn expenditure on imports in March
Further easing expected in April as higher rates bite into demand
The Government is reviewing the present allocation under the $ 1 billion Indian Credit Line for different sub categories based on the current needs prioritising essential food items, medicines, fuel and LP gas.
CB tells govt. that current tax structure is not sustainable
“We have to bring tax structure at least to level prior to 2020”– CB Governor Dr. Weerasinghe
Finance Minister Sabry wants VAT rate being restored to early teens as 8% looks ludicrous
But timing couldn’t be worse as people are squeezed by hyperinflation
Some economists propose a two-tier tax structure for low and high-income groups
Higher taxes at this juncture could kill prospects for SMEs as they confront a double whammy from higher rates and inflation
The Colombo stock market closed on an indecisive note following the long weekend, amidst lacklustre investor activity and turnover yesterday.
Workers remittances in March ended their month-on-month declining course with a modest gain.
Advocata’s Bath Curry Indicator (BCI), which tracks the monthly changes in the retail price of food, recorded an increase of 14% from March to April. This is a year on year increase of 49% for this basket of food.
වත්මන් ආණ්ඩුව රුපියල් කෝටි තුන් ලක්ෂයක මුදල් මුද්රණය කර තිබෙන බවත් එවැනි අධික මුදලක් මුද්රණය කරන විට සිදුවන දේ ගැන සාමාන්ය පෙළ සිසුවෙකු වුවත් දන්නා බවත් ශ්රී ලංකා නිදහස් පක්ෂ පාර්ලිමේන්තු මන්ත්රී රංජිත් සියඹලාපිටිය මහතා පවසයි.
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