Reuters – Johnson & Johnson said on Tuesday that recent tests showed that Johnson’s Baby Powder was free of asbestos, after U.S. Food and Drug Administration investigations reported trace amounts of the material in the product earlier this year. A total of 155 tests were conducted by two different third-party labs using four different testing…
SriLankan Airlines, the National Carrier of Sri Lanka and a member of the oneworld alliance, won the prestigious ‘World’s Leading Airline to the Indian Ocean’ title once again at the Grand Final Gala Ceremony of World Travel Awards, in Muscat, Oman recently. The Airline was also nominated for the titles ‘World’s Leading Airline’, ‘World’s Leading…
(Reuters) – Sri Lankan shares closed nearly unchanged on Tuesday, hovering near a 17-month high hit in the previous session, while the rupee ended weaker on concerns related to government coffers following recent tax cuts. ** The benchmark stock index closed largely unchanged at 6,214.99. The bourse gained 1.5% last week, and is up 2.69%…
AFP- Global equities mostly retreated Tuesday after US President Donald Trump warned there was no deadline for doing a trade deal with China. The announcement added to trade uncertainty already stoked by Washington’s re-imposition of metal tariffs on Argentina and Brazil and threats of steep levies for French merchandise. In Britain for a NATO summit,…
Deputy Secretary to the Treasury A.R. Desapriya has been appointed as the new chairman of the Securities and Exchange Commission. Desapriya has 30 years of work experience in the public sector. He is now a special grade officer of Sri Lanka Administrative Service (SLAS). Before he assumed the duties of his current position as Deputy…
Finance Ministry yesterday (02) issued an extraordinary gazette notification for reducing Value Added Tax (VAT). Accordingly, there will be no VAT charged on the supply of services by a hotel, guesthouse, restaurant or other similar business providing similar services, registered with the Sri Lanka Tourism Development Authority, if 60 % of the total value of…
This year’s fiscal deficit is likely to reach 7% of gross domestic product (GDP) due to significant dip in revenue than expected mainly due to slow growth and increase in election-related spending, the Finance Ministry said in a statement. “The expected fiscal deficit for 2019 will be more than the estimated and could settle around 7…
The strategy to transition into a low carbon development will help Sri Lanka’s largest export industry to embrace the global mandate of “Responsible Fashion” HSBC and International Union for Conservation of Nature (IUCN) Sri Lanka Country Office announced the launch of their project to crystalize a cohesive low carbon development transition strategy for the local…
Sri Lankan insurers’ risk-based capitalisation (RBC) ratios have fallen with the adoption of new accounting standards for lease contracts; SLFRS 16, the local equivalent of IFRS 16, Fitch Ratings says. This is because right-of-use (RoU) assets recognised under SLFRS 16 are currently inadmissible under Sri Lanka’s RBC regime and are deducted from total available capital…
The Hambantota International Port Group (HIPG) participated in the prestigious Hong Kong Maritime week, which was held from 17th to the 23rd of November. An important event in the world maritime calendar, this year too it brought together key industry players from across the globe to showcase their expertise and network at the number of…
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