A simple, transparent and efficient tax system was introduced to all stakeholders in the economy including Small and Medium Entrepreneurs by the Cabinet decision dated 26th of November 2019 on the Note to the Cabinet on ‘Economic Revival Initiatives’ submitted by His Excellency the President. Since the economy is facing a drastic challenge consequent to…
The Cabinet of Ministers at its meeting held on 01st April 2020 granted approval to temporally suspend certain outward remittances for a period of three (03) months, and accordingly, the relevant Order was issued by the Gazette Notification dated 02nd April 2020 as per the provisions of the section 22 of the Foreign Exchange Act….
Gridtential Energy, the inventor and developer of Silicon Joule™ bipolar battery technology and LOLC Advanced Technologies, the research and advanced technology arm of LOLC Group announce that they have entered into a technology evaluation agreement. Under the agreement, over the next few months, LOLC Advanced Technologies and Gridtential Energy will collaborate on prototyping lead batteries with…
Sri Lanka is highlighted in the largest global report about how regions can develop thriving startup ecosystems – ranking as the #2 Global Ecosystem for Affordable Talent in 2020 The 2020 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network was launched today at The Ecosystems Couch Conference. The GSER is…
Hemas Holdings PLC announced the appointment of Kasturi Chellaraja Wilson as Group Chief Executive Officer, effective 1st October 2020, succeeding Steven Enderby. As part of a planned succession, Kasturi will take on the role of Deputy CEO and be appointed to the Board of Hemas Holdings PLC, effective 1st July 2020. Husein Esufally, Chairman, Hemas…
Alibaba founder Jack Ma is no longer the richest man in China after Tencent’s Pony Ma, 48, worth $50 billion, surpassed Jack Ma’s $48 billion fortune, according to a Bloomberg report. Tencent Holdings Ltd shares surged on Wednesday in Hong Kong trading recording a $40 billion surge this week propelling Pony Ma’s fortune above Jack…
In line with the Government’s development programme and with the aim of uplifting the small and medium businesses adversely affected by the COVID-19 pandemic, People’s Bank has introduced a special loan scheme with an interest rate of just 6%. The Bank has allocated Rs. 15 billion for this purpose. The unexpected impact of the COVID-19…
How are we helping the Country, Economy and YOU? This press statement aims to create public awareness about the operational and policy measures undertaken by the Central Bank of Sri Lanka thus far during 2020, to support the economy, the financial system and the general public in the midst of the COVID-19 pandemic. Being the…
In its quest to continuously support Sri Lanka’s export industries and to keep the country connected with the global economy during the pandemic, the National Carrier SriLankan Airlines has converted a wide-body passenger aircraft into a dedicated cargo aircraft. This converted Airbus A330 aircraft will commence operations on the 25th of June to key destinations…
Offers Special Low Interest Business Loans and Gold Loans to Businesses and Individuals Stepping up its assistance to businesses and individuals affected by the global health and economic crisis, Sampath Bank rolled out a host of special business loans and gold loans under its Revive Sri Lanka initiative at a significantly low interest rate of…
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