Sri Lanka Customs (SLC) the country’s largest revenue earning state body has been able to secure a tax revenue of Rs.919.05 billion, contributing 53.7% of the total government tax revenue of Rs.1, 712.31 billion, the lately released annual report for 2018 highlights. SLC was able to accomplish such an achievement despite the slowdown in trade…
As part of an Asian tour undertaken to promote closer cooperation between the Bolivarian Republic of Venezuela and Asian countries, the Vice Minister of Foreign Affairs for Asia, Middle East and Oceania of Venezuela, Ruben Dario Molina visited Sri Lanka from 24 to 28 August 2019. The Venezuelan dignitary held official talks with the State Minister of…
(Reuters) – Sri Lanka has enlisted French major Total and Norway’s Equinor to study the hydrocarbon potential of two blocks, saying it aims to start oil production in the island nation in 2023. Sri Lanka does not produce oil and importing the fuel costs it $4.15 billion in 2018. The country has received three bids for the…
(Reuters) – Sri Lanka’s rupee slipped on Tuesday amid worries over further foreign fund outflows after the central bank cut key monetary policy rates. Shares snapped four straight sessions of falls as investors picked up beaten-down banking and diversified stocks. ** Foreign investors sold net 12.9 billion rupees worth of government securities in the week…
Known as one of the biggest buyers of Ceylonese Sapphire, Lewis Allen is now in Sri Lanka to attend FACETS 2019, the international gem and jewellery exhibition that will commence on 29th August at the BMICH. Having begun his gem trading business about 40 years ago in Sri Lanka, trading in moonstones and garnets, Lewis…
According to the Performance Report of Department of Railways 2018,the Sri Lanka railway department has grappled with manpower shortages during the year which have affected the railway’s operational activities. According to the report, there are 20,443 approved vacancies in the Sri Lanka railways whereas the department has only 14,885 personnel, witnessing a shortage of 5,558…
Top Korean nameplate KIA is to strengthen its presence in Sri Lanka with a distributor dealership model following the recent corporate structure change which saw Managing Director Mahen Thambiah securing 100 per cent ownership with a total investment of Rs 1.02 billion. The seamless transition has been achieved with no reduction in employee numbers or…
Sri Lanka’s largest Ferris Wheel, will soon make its first spin, soaking up bird’s eye views across the capital city and its suburbs. The iconic wheel would be part of a staggering 1.5-acre entertainment zone, ‘Fantasy Island’ which also houses a large water park and an impressive snow cave. With its groundbreaking ceremony having taken…
2018/2019 has been a challenging year, specifically for those businesses supplying goods and services to the construction sector, the chairman of Lanka Aluminium Industries PLC, S.T. Nagendra said in the Annual Report and the Audited Accounts of the company for the year ended 31st March 2019. “During the first part of the year, the negative…
Sri Lanka’s rupee ended a tad firmer on Monday, ending a five session losing streak, but worries over further foreign outflows after the central bank cut key monetary policy rates weighed on sentiment. Stocks closed weaker for the fourth straight session. ** Foreign investors sold net 12.9 billion rupees worth of government securities in the…
Video Story
