Reuters – Sri Lankan shares fell on Wednesday to a more than five-year closing low in thin trade, a day after the country proposed in its 2019 budget higher spending and set an ambitious target to cut fiscal deficit, analysts said. ** The rupee closed firmer on inward remittances and dollar selling by exporters. **…
Sri Lanka’s latest Budget Proposals for 2019 presented by Finance Minister Mangala Samaraweera on Tuesday (5th March 2019) proposed that Nation Building Tax (NBT) at the rate of 3.5% will be imposed on foreign payments made using Electronic Fund Transfer Cards – both Debit and Credit cards – to purchase goods or services including offshore digital…
All listed companies in Sri Lanka to have at least 30% women on board representation by December 2024 Sri Lanka’s Budget 2019 proposals presented by Finance Minister Mangala Samaraweera today proposed that by December 31st 2024 all listed companies shall have at least 30% of board seats occupied by women. Accordingly the proposals…
Sri Lanka’s Budget proposals for 2019 had proposed to increase Excise Duties on more than 60mm long cigarettes sold in Sri Lanka by 12% from today (6th March). This will result in an increase of Rs.5 per stick on average, accordingly. Further Excise duty on cigarettes will now be based on indexation with a minimum annual…
Reuters – Sri Lankan shares rose on Tuesday, recovering from a more than five-year closing low hit in the previous session, as investors picked up battered stocks, and 2019 budget proposals to increase spending and cut fiscal deficit boosted sentiment, analysts said. ** The rupee closed firmer on inward remittances and dollar selling by exporters….
Sri Lanka’s Education Ministry will take steps to close down 1,486 schools out of 10,194 located in the island nation as those 1,486 schools have less than 50 students attending classes, a recent media report highlights. Accordingly the report said that the programme comes in the wake of the ministry trying to develop the nearest…
The Government is providing NOK 60 million over a period of three years for mine action in Sri Lanka. ‘Sri Lanka has been heavily contaminated by landmines, but the country is now approaching its goal of becoming mine-free. This year, Norway holds the presidency of the Mine Ban Treaty, and intends to help Sri…
Sri Lankan Government’s total Government income for 2019 will be Rs.2,400 billion and expenditure for the year will be Rs. 4,550 billion according to estimates in the Appropriation Bill presented in Parliament by the Finance Minister on February 5 this year. Further the government target is to keep the Budget deficit at the level of…
Sri Lanka’s Ceylon Petroleum Corporation (CEYPETCO) is seeking a combined cargo of over 2.86 million barrels of Gas Oil in various Sulfur content and Unleaded Gasoline for delivery during the eight months between July 15, 2019 and March 14, 2020, according to a recent tender notice issued last week. Accordingly CEYPETCO is seeking a cargo…
The annual budget seminar organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will evaluate the economic and tax perspectives arising from the National Budget and will also feature a host of speakers and panelists representing the private and public sectors who will share their thoughts at the seminar on 09th…
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