Of the five pressing issues for business in Sri Lanka today, taxes trump all else with nearly half of respondents to the latest LMD-Nielsen Business Confidence Index (BCI) survey pointing in this direction- although it is noteworthy that eight in 10 said so in July. In terms of developments on the tax front, the cabinet…
The country’s share of cheque volume with respect to other major payment instruments has dropped by 7.7% during the first quarter of 2019, in comparison to the first quarter of 2018. “Value wise it will change but volume wise it has reduced. Last year also it was the same,” Director – Payments and Settlements of…
Sri Lanka’s leading fashion retailer Odel PLC, says it is working closely with both the government and policy-makers to reduce the duty on imports to render Sri Lanka as an attractive shopping destination to tourists. “As the pioneer in the fashion retail space, Odel is working closely with both the government and policy-makers to reduce…
(Reuters) – Sri Lanka’s rupee fell further on Thursday to close at its lowest level in more than seven months, due to continued foreign fund outflows from government securities after a surprise rate cut last month. ** Foreign investors sold government securities worth of 25.2 billion rupees in the two weeks ended on Aug. 28,…
Maruti Suzuki India reported a nearly one-third decline in sales at 1,06,413 units in August It had also cut production by one-third last month livemint – India’s biggest carmaker Maruti Suzuki announced no-production days at Gurugram and Manesar plants on 7th September and 9th September 2019. In a statement to stock exchanges, Maruti Suzuki India…
According to the latest data released by the Sri Lanka Tourism Development Authority (SLTDA) the tourism arrivals in August 2019 have increased to 143,587 from 115,701 in July 2019. This is an increase of 24% compared to the 115,701 arrivals in July 2019. But in comparison to August last year, there was a decline of…
The regional expansion of the LOLC group has delivered extremely strong results diversifying and balancing the exposure the company has to the local market, Deputy Chairman of LOLC Holdings PLC Ishara Nanayakkara said. “As a result 85% of Profit before tax (PBT) is currently derived from investments in Cambodia, Myanmar, Pakistan, Indonesia and Philippines. This…
Government is to call for proposals for strategic investors to construct a Convention Centre, Hospital and an International School in the Colombo port city. Sri Lanka’s National Agency for Public Private Partnership will assist in the process. Accordingly, The Cabinet of Ministers has approved the proposal presented by Minister of Megapolis and Western Development, to…
The cabinet of Ministers approved the combined proposal presented by Minister of Finance and Minister of Telecommunications, Foreign Employment, and Sports to advice the government owned Businesses and Contributory Funds namely, Employees Provident Fund, Sri Lanka Insurance Corporation ltd, National Savings Bank, Bank of Ceylon, Employees’ Trust Fund and People’s Bank to Invest in Sri…
YAHOO is down this morning with users seemingly unable to access the popular service and its email. Yahoo is suffering from a major outage this morning (05) with users unable to access the website or its email service. The issues began at around 7:30 am with thousands of fans appearing to be blocked from…
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