The Commissioner General of Inland Revenue H.M.C Bandara recently revealed in Parliament that billions of rupees in tax arrears for many years could not be recovered due to the lengthy judicial process and delays in the courts. It was also revealed at the committee that the tax evaders are taking advantage of delays in the…
Partnership further enhances multi-dimensional strategic relationship between India and Sri Lanka The Adani Ports and Special Economic Zones (APSEZ) Ltd. India’s largest private Ports & Logistics company and a key subsidiary of the diversified Adani Group, received a Letter of Intent (LOI) from the Ministry of Ports and Shipping and the Sri Lanka Ports Authority,…
Macktiles, the youngest player in the Sri Lankan tile industry, has taken the initiative to expand further by establishing manufacturing facilities to cater to the local demand. This initiates an industrial expansion drive in keeping with the Government’s initiative to develop Sri Lankan industries. The Company has invested in a state-of-the-Art plant from the Italian…
John Keells Holdings PLC said in a stock exchange filing, a consortium consisting of APSEZ and JKH have received a Letter of Intent (LOI) from the Ministry of Ports and Shipping and the Sri Lanka Ports Authority, acting on behalf of the Government of Sri Lanka, to develop and operate the WCT in the Port…
Considering the difficulties and constraints faced by businesses and individuals engaged in passenger transportation services due to the ongoing COVID-19 pandemic, the Central Bank of Sri Lanka (CBSL) has requested licensed commercial banks, licensed specialised banks, licensed finance companies and specialised leasing companies (financial institutions), to provide concessions for lease facilities obtained by such businesses…
Obtaining the Public Comments and opinions on the new National Trade Policy will take place in the next few weeks, Trade Minister Bandula Gunawardena said. He said so at the Ministerial Consultative Committee on Trade affairs held recently at the Parliament. Further he added that an expert committee has been appointed to formulate the National…
The Ceylon Chamber of Commerce and the McLarens Maritime Academy recently entered in to a Memoranda of Understanding where CCC appointed surveyors will have an opportunity to undertake training programmes to enhance their technical know-how in the fields of bunker and draught survey. In addition to theoretical knowledge, the above training courses will deliver “On…
The Silk Road Journal – by Mahika Ming Nearly 50 years ago the American Apollo and Soviet Luna missions brought lunar soil samples to earth. In 2020 China’s Chang-e 5 not only got lunar soil samples but also brought back rice seeds taken to be exposed to outer space environment. Chinese scientists are at present…
Triodos Investment Management loan has tenure of five years Capital infusion aims to support business growth Citizens Development Business Finance PLC (CDB) raised €5 Mn in Tier II qualifying capital, strengthening its capital ratios aimed at supporting its business growth. The Tier II qualified subordinated loan which has a tenure of five years, has been…
In a report issued today, the research arm of leading independent Investment Banking firm Asia Securities, reiterated that it does not see a risk of sovereign default at this point. The eagerly anticipated announcement of the USD 1.5bn currency swap agreement with China this week is expected to provide a significant boost to local and…
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