Due to fast-moving economic conditions present in Sri Lanka, utmost importance is placed on the lead time of construction projects in order to satisfy all key stakeholders. Advantis Engineering, an industry leader in rapid, innovative, bespoke space solutions which are a step ahead of its time, utilized its technical expertise in large scale modular construction…
The government has decided to amend the luxury tax on motor vehicles to be based on price instead of engine capacity, specifying the vehicle categories which are exempt. Meanwhile, The levy on foreign commercial transactions will be charged at the rate of 3.5% on credit/debit card payments made to purchase goods and services from outside…
Sri Lanka has reduced value added tax on condominium housing units to 6% and input tax relating to such supply will be counted at 5%. VAT will not be charged if the unit price is below 25 million rupees. VAT will also not be charged where the agreement to sell was executed under the Notaries…
(Reuters) – ** Sri Lankan shares and the rupee gained on Wednesday, as investors waited for policy manifesto announcements by the two frontrunners for next month’s presidential poll. ** Former wartime defence chief Gotabaya Rajapaksa and housing minister Sajith Premadasa will announce their policy framework on Friday and Nov. 1, respectively. Analysts had said that…
The Finance Company PLC (TFC), a Finance Company licensed under the Finance Business Act No. 42 of 2011 (FBA) was severely impacted by the failure of a number of financial institutions within the Ceylinco Group in 2008. Since then the financial status of the company deteriorated gradually, leading to a severe liquidity crisis. Although, several…
The Colombo Stock Exchange has amended rule 1.4.4 of the Automated Trading Rules relating to the Disclosed quantity (Iceberg orders). According to the amended rule; the Iceberg order size will be revealed as the disclosed quantity and not as the full order quantity and the Disclosed quantities must be greater than 10% of the order…
Sri Lanka Tourism Promotions Bureau warmly welcomed the Italian Celebrity Chef Gabriele Rubini aka Chef Rubio who landed in Sri Lanka recently. Chef Rubio arrived in Sri Lanka upon a special invitation extended by Embassy of Italy in Colombo to participate at the forum on Mediterranean Diet, which was held on 16th October at Shangri–La…
The International Monetary Fund (IMF), downgraded sri Lanka’s economic growth in 2019 to 2.7%, down by 0.8% from an earlier projection in April. However, The IMF expects the Sri Lankan economy to rebound in 2020, hence forecasting a 3.5% growth, but that projection was subjected to a downgrade of 0.5% from its World Economic Outlook…
In a first effort of its nature, the United Nations Industrial Development Organization (UNIDO) Colombo is collaboratively unveiling a Forum on Bamboo for Energy and Industrial Sustainability on 25 October. The forum, organised by UNIDO in collaboration with the Institution of Engineers of Sri Lanka (IESL), takes place on Friday October 25 at the Institution…
Reuters – ** Sri Lankan shares closed at their highest level in seven weeks on Tuesday, led by a rally in banks and manufacturing stocks, while the rupee ended firmer. ** The benchmark stock index rose 0.28% to 5,880.40, the highest close since Sept. 3, 2019. This is the fourth straight session of positive close…
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