Economic
President Maithripala Sirisena has extended till 30 June the term of office of the Presidential Commission of Inquiry appointed to investigate and inquire into alleged irregularities in connection with SriLankan Airlines Ltd., SriLankan Catering Ltd. and Mihin Lanka Ltd.
Tea exports for the month of April was recorded at 20.8 Mkg, which is identical when compared to the same period of the previous year, produce broker John Keells Ltd., said in their weekly report.
The prices of 64 drugs had been revised due to the appreciation of the value of the dollar (depreciation of the rupee), Health, Nutrition and Indigenous Medicine Minister Dr. Rajitha Senaratne had stated.
REUTERS: Shares snapped five straight sessions of gains on Friday in low trade amid worries over economic slowdown and lack of investor appetite for risky assets.
The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC), in a proactive attempt to reassure foreign investors, recently organised an Invest Sri Lanka Forum targeting portfolio and direct investors in Singapore.
Sri Lanka’s Licensed Finance Companies (LFCs) will be facing stringent regulations from the Central Bank (CB)’s Monetary Authority with ownership limits, ensuring higher capital adequacy, loan loss provisioning and improved reporting standards.
The terror-struck tourism industry is now faced with a fresh dilemma, as the much-lauded reduction of Value Added Tax (VAT) from 15% to 5% would in fact give more problems than relief. On the face of it, though the reduction of VAT from 15% to 5% reflects a 66.6% saving, it renders the hotels, restaurants and others unable to claim an input VAT paid on purchases, imports and other supplies. The current VAT Act restricts the claim of input credit if output VAT is at 5%.
Compared to other countries that have faced terror attacks, the Government was optimistic Sri Lanka can recover faster from the economic fallout of the Easter Sunday attacks, State Minister of Finance Eran Wickramaratne said yesterday.
In an effort to rebuild confidence among the Diaspora and foreign investors and reassure the world that Sri Lanka is a safe place to invest, the Research Intelligence Unit (RIU) will be hosting its next prestigious RIU Investor Forum on June 27 in London in association with the Sri Lankan High Commission in London.
Advocata Institute yesterday said it strongly supports the President Maithripala Sirisena appointed expert committee recommendations on restructuring of SriLankan Airlines.
Representatives of the private sector yesterday took a Pledge for Unity, a national initiative, marking one month since the Easter Sunday terror attacks in the country.
Sri Lankan market’s ability to allow assets to be bought and sold become more easy during the week ending May 24 with the country’s economy gaining momentum gradually a month after Ester terror blasts rocked the island nation.
The recent mob attacks on Muslim properties and businesses in certain parts of the country have led the majority Sinhalese to lose jobs and earnings, Finance Minister Mangala Samaraweera told Parliament yesterday.
Reuters: Sri Lankan shares closed higher for a third straight session on Tuesday, moving further away from a near seven-year closing low hit last week, as local investors bought beaten-down stocks.
Police have frozen a total of Rs. 134 million deposited in 41 bank accounts belonging to suspects of the Easter Sunday attacks.
Government spends around Rs. 1.7 million per university student for their education while private university offers the same service for around Rs 1.2 million, said Chairman Vallibel One Dhammika Perera.
දේශීය ලොකු ලූනු අස්වැන්න වෙළෙඳපොළට පැමිණෙන බැවින් දේශීය ගොවියා ආරක්ෂා කර ගැනීමේ පියවරක් ලෙස ආනයනික ලොකු ලූනු සඳහා වන විශේෂ වෙළෙඳ භාණ්ඩ බද්ද අද (21) මධ්යම රාත්රියේ සිට ක්රියාත්මක වන පරිදි ඉහළ දමා තිබේ.
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