The new government is to make a statement as to show how the recently introduced fiscal stimulus would be accommodated without undermining stability, Central Bank Governor Dr. Indrajit Coomaraswamy said. “This fiscal stimulus must be kept in a framework which does not undermine fiscal sustainability and even more importantly it must not undermine debt sustainability….
Reuters – Sri Lankan shares closed at a 17-month high on Friday, helped by positive sentiment surrounding tax cuts by the country’s new government, while the rupee ended a tad weaker. ** The government said on Wednesday it had decided to reduce value-added tax to 8% from 15% from Dec. 1, and abolish some other…
~ WoW.lk to integrate operations and management under Daraz.lk Dialog Axiata Group and Daraz Sri Lanka have entered into a strategic partnership to collaborate on digital commerce. As the first step in this partnership, Daraz Sri Lanka is to integrate the management and business operations of wOw.lk, the online retail platform owned by Dialog Axiata…
Sri Lanka’s Central Bank observes that the recent tax revisions would support lower inflation and higher economic growth in the short term, but was of the view that greater clarity with regard to the medium-term fiscal path of the government is required to assess the impact on the economy over the medium term. Announcing the…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 28 November 2019, decided to maintain its accommodative monetary policy stance with the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank remaining at their current levels of 7.00 per cent and 8.00 per cent, respectively….
Reuters – Sri Lankan shares and rupee ended higher on Thursday, a day after the government said it has decided to reduce value-added tax to 8% from 15% with effect from Dec. 1, along with plans to abolish some other taxes as well. ** The gains also come a day ahead of the central bank’s…
Ronald C. Perera, Chairman of the Bank of Ceylon (BOC) and three other directors of the bank have tendered their resignations. The bank announced the resignation in a notice sent to the Colombo Stock Exchange. Ronald C. Perera has tendered his resignation from the board of Bank of Ceylon on 26th November 2019 and Non- Executive…
The Sri Lankan delegation secured second place overall at the Asia Pacific ICT Alliance (APICTA) Awards 2019 held from 19th to 22nd November, 2019 at Ha Long Bay, Vietnam. APICTA is an alliance of national ICT organizations to build and enhance a mutually cooperative network to promote ICT across the Asia Pacific region with 16 permanent member…
CT CLSA Securities (Pvt) Ltd expects the stock market to react positively from today (28) following the slew of tax exemptions announced by the new government. “The proposals are positive for sectors across the board with reduced taxes likely to drive the overall economic activity and the broader consumer sentiment. Whilst the proposals are yet…
The attention of the Central Bank of Sri Lanka (CBSL) has been drawn to certain information published in newspapers and news websites on 26th November 2019 regarding the regulatory actions taken by the CBSL on The Finance Company PLC (TFC) and it wishes to clarify the following. The CBSL issued a notice of cancellation of…
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