Highlights endemic absence of clarity on key policy issues Warns of distortionary effects from uncertainty over VAT policy Draws parallels to drop-off in sales in Indonesia; ASEAN countries In the wake of continuing uncertainty with regard to the effective date on the reintroduction of Value Added Tax (VAT) on residential condominiums, leading global real-estate…
AMCHAM, in collaboration with STAX, recently launched the 2018 whitepaper ‘FDI Landscape and Investor Sentiment in Sri Lanka’ at a gathering of business and government leaders including the Hon. Malik Samarawickrama, Minister of Development Strategies and International Trade. In addition to providing a definitive view of FDI statistics, the whitepaper interweaves expert insights from regulatory…
Latest Cabinet decisions noted that it has been planned to modernize public transport service and to introduce an Electronic Payment System using a prepaid card system. Accordingly, the Cabinet of Ministers had approved the proposal presented by Nimal Siripala de Silva, Minister of Civil Aviation and Transport to facilitate the implementation of a Standard Public…
The Port of Colombo is ranked as world’s No.01 container growth port among the top 30 container ports for the 1st half of 2018. In container handling Port of Colombo has recorded a 15.6% growth for the 1st half of 2018 over same period last year according to Alphaliner Monthly 2018. It is also a…
Recent Cabinet decisions outlined that it has been proposed to develop small-scale industries of the area, using the 100 Acre Land where the Kankasanthurai Cement Factory had been located. Accordingly the Cabinet of Ministers approved the proposal presented by Rishad Bathiudeen, Minister of Industry and Commerce to develop the aforesaid land as an industrial zone…
Reuters – Sri Lankan shares ended slightly firmer on Friday, boosted by foreign buying, and posted their third straight week of gains. The Colombo stock index ended 0.09 percent firmer at 6,117.89. The bourse rose 0.6 percent during the week. The day’s turnover was 274 million rupees ($1.69 million), about a third of this year’s…
The U.S. Agency for International Development (USAID), with the USAID Development Credit Authority (DCA), Hatton National Bank PLC and Sampath Bank PLC have announced a new partnership for a program of up to $9 million for local financing available to private, micro-, small-, and medium-sized enterprises (MSMEs) throughout Sri Lanka. This seven year program will…
Latest data highlights that as at 31st August 2018, 1,582,835 tourists had visited Sri Lanka for this year which is a 12.5% growth over last year when 1,406,854 tourists had visited the country during the same period. Further a total number of international tourist arrivals to Sri Lanka during August 2018 was 200,359, compared to…
Derana has been named the most respected media entity in Sri Lanka by LMD magazine in its latest compilation of Sri Lanka’s most respected entities. Just 13 years old, Derana is a premium entertainment and news channel offering multichannel access including television, radio, and online services. The recognition is a landmark honour in the growth trajectory of Derana, which has been consecutively rated No. 1…
Representatives from international donor agencies that are providing development assistance to Sri Lanka said that they are ready to extend their fullest support for the efforts taken by the Sri Lankan President to achieve goals of development and reconciliation. A meeting between President Maithripala Sirisena and those representatives was held at the President’s Official Residence,…
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