The Cabinet of Ministers approved the proposal presented by the Minister of Finance to gazette the amendment bill to revise the Economic Service Charge (ESC) Act No 13 of 2006 and to present for the parliamentary approval. The Cabinet of Ministers also approved the proposal to Gazette the bill prepared to amend the Inland Revenue…
Sri Lanka had bounced back immediately after the recent problems, Hayleys Chairman and Chief Executive Mohan Pandithage emphasized. He made this remark during the opening event to commemorate the landing of LOT Polish Airlines’ first regular, seasonal winter flight to Colombo. Pandithage asserted that apart from Sri Lanka’s national carrier, LOT Polish Airlines was the only direct operator to…
The Board of Investment of Sri Lanka has signed an Agreement with LA’ MORE Hotel (Private) Limited to set up, conduct and operate a 176 key 5-Star hotel project in Tangalle. The project represents an investment of US$ 35 million and will employ a staff of 355 members at the property. The Agreement was signed…
Sri Lanka’s inflation, as measured by the change in the Colombo Consumers’ Price Index (CCPI), increased to 5.4% in October 2019 from 5.0% in September 2019, the Department of Census and Statistics reported. The CCPI for all items for the month of October 2019 was 131.3 and it records an increase of 0.2 index points…
(Reuters) – Sri Lankan shares ended weaker on Tuesday falling for the second straight session, as investors sold large-cap shares two weeks ahead of presidential polls. ** Investor concerns were on the rise over the country’s two top presidential candidates’ election giveaway offers, that officials and a credit rating agency are warning would push the…
BANGKOK — Crack open a crab weighing two kilograms like an islander king this December when one of Sri Lankan’s most esteemed restaurants, Ministry of Crab, crosses the Andaman Sea to Thai shores. Known for their mud crabs, tiger prawns, and other seafood delectables, Ministry of Crab is a Sri Lankan restaurant that’s been listed on…
The Government of Republic of Korea has agreed to provide a concessional loan of USD 30 million (Approximately Rs.5,460 million) to establish National Center of e-Content Development for Computer Assisted Teaching in Sri Lanka. The objectives of the proposed project are to; Improve ICT teaching and learning environment for secondary education in Sri Lanka, enhance…
The Central Bank of Sri Lanka released its publication- “Recent Economic Developments: Highlights of 2019 and Prospects for 2020” on-line. An overview of the performance of the Sri Lankan economy in 2019, as reflected in this publication is given below: The growth of the Sri Lankan economy moderated in the first half of the year amidst challenges…
Profit after tax for 3 rd Quarter grew by 4% despite higher taxes Individual impairment charges for 3 rd Quarter decreased by 73% Return on Equity of 11.60% and Return on Assets of 1.10%, among the highest in the industry The Bank maintains a healthy Net Interest Margin of 4.06%. Pan Asia Banking Corporation…
3 weekly flights to continue into March 2020, cuts travel time down to just 9 hours New frequencies catering to increase in seasonal demand for travel to Sri Lanka Sri Lanka’s No. 1 destination ranking to draw larger share of Polish, EU tourists for peak season First flight packed with dignitaries, holiday-makers, journalists, and a…
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