The Cabinet of Ministers approved the proposal presented by Minister of Transport and Civil Aviation to call competitive bids for the selection of contractors to operate luxury train coaches on four routes for five years. Sri Lanka railways will call bids to operate luxury coaches on trains running to Badulla, Northern, Eastern and Southern routes….
LAUGFS Power Limited rang the market opening bell to celebrate the listing of its shares at the Colombo Stock Exchange (CSE) today. The listing of the company is as a result of a move by LAUGFS Gas PLC to segregate the subsidiaries of the company that are outside the scope of the Liquefied Petroleum Gas…
The Tea Exporters Association (TEA) has issued a press release in response to the press article released by the Planters Association (PA) under the title of “PA Sounds alarm on growing discrepancy between tea auction and export prices,” to clarify certain misconceptions on the tea auction and export prices. The Full Press Release is as…
The Ceylon Chamber of Commerce launched the working draft of the Sri Lanka Economic Acceleration Framework (SEAF) 2020-25 on September 17th, 2019. The document has identified over 140 interventions that require to be implemented in driving Sri Lanka’s GDP from USD 89 billion (2018) to USD 134 billion by 2025, propelling GDP growth in the…
ICRA Lanka Limited, Subsidiary of ICRA Limited, Group Company of Moody’s Investors Service has reaffirmed the Issuer rating of [SL]A+ (pronounced S L A plus) with Stable outlook for Access Engineering PLC (“AEL”/ “the Company”). ICRA Lanka has also reaffirmed the Issue Rating of [SL]A+(pronounced S L A plus) with Stable outlook for the Company’s…
The newly renovated Tourist Information Centre (TIC) operated under the Sri Lanka Tourism Promotion Bureau (SLTPB) was ceremonially opened to the public recently, by Mr. Kishu Gomes, Chairman, Sri Lanka Tourism Promotion Bureau (SLTPB), along with Mr. Samantha Rathnayake, President of Kandy Hoteliers Association and his key members, Mr. W.M.A.H. Bandara Director, Department of Trade,…
The Finance Ministry announced that the luxury tax imposed on motor vehicles will not be applicable to small motor vehicles. Issuing a statement yesterday (29) the ministry said that vans, cabs, double cabs, motorcycles, and three-wheelers will not be subjected to this luxury tax. Previously, double cabs were levied under the luxury tax, but it…
(Reuters) – Sri Lankan shares closed at 13-week highs on Tuesday, led by financial and diversified stocks, while the rupee closed weaker on dollar demand from importers. ** Presidential candidate Gotabaya Rajapaksa released his election manifesto on Friday pledging a tax overhaul that would reduce the value-added tax to 8% from the current 15%, abolish…
Sri Lanka’s Cabinet of Ministers today approved a US$480 million grant from the United States government’s Millennium Challenge Corporation (MCC), the Finance Ministry said in a statement. The full statement issued by the Ministry of Finance reproduced below: On a proposal made by the Minister of Finance Mangala Samaraweera, the Cabinet of Ministers today approved…
Economic woes, political uncertainty on the local front will downgrade Sri Lanka’s sovereign rating in the fourth quarter of 2019, Director/Chief Executive of Janashakthi PLC Ramesh Schaffter said. “Sri Lanka’s GDP recorded only modest growth of only 3.2% in 2018, suggesting the economy continues to remain highly vulnerable to global and domestic disturbances. On the…
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