The increase in taxes on imported vehicles in Sri Lanka is likely to cause the growth in motor insurance policy premiums to slow in the near term, says Fitch Ratings. The government’s 2019 budget presented in March increased excise duties on imports of fuel-powered and hybrid passenger-motor vehicles based on their engine capacities. The government…
The Sri Lankan Association of Software and Services Companies (SLASSCOM) is pleased to see several concessions proposed in the 2019 National Budget to accelerate the revenue growth and increase capacity within the knowledge solutions industry. The IT/BPM industry is recognized as a thrust industry within the National Export Strategy (NES) and is promoted globally as…
HAMBANTOTA, Sri Lanka (Reuters) – Oman’s oil minister said on Sunday he was excited to be part of a Sri Lanka oil refinery project in a sign that plans for the sultanate’s involvement may be back on track. Sri Lanka said last week that Oman Oil Co had made clear it was interested in taking…
Government of Sri Lanka has accorded high importance to the development of infrastructure including expressway network with inter-connectivity as it will directly contribute to the economic growth and will have indirect effects in raising the productivity and efficiency in different economic sectors. To complement the existing expressway network, Central Expressway Project (CEP) has been initiated…
Bloomberg – A proposed oil refinery in Sri Lanka could boost a barely used Chinese-operated port that has piled on debt for the country and fueled criticism of President Xi Jinping’s signature Belt and Road infrastructure-building initiative. The $3.9 billion refinery project will be located near the southern Sri Lankan port of Hambantota, which was…
Headline inflation as measured by the yearon-year change in the National Consumer Price Index (NCPI, 2013=100) increased to 2.4 per cent in February 2019 from 1.2 per cent in January 2019 mainly due to the base effect. Meanwhile, year-on-year Non-food inflation increased to 6.7 per cent in February 2019 from 6.5 per cent in January…
Reuters – Sri Lanka’s share index fell for a fourth straight session on Thursday to a more than 6-year closing low as investors exited the island nation’s risky assets, while they awaited cues from the third and final vote on the 2019 budget, market sources said. ** The Colombo Stock Exchange index fell 0.36 percent…
With reference to the recent paper articles on the governance process and issuing yields relating to the 5-year and 10-year International Sovereign Bonds (ISBs) issued by the Central Bank of Sri Lanka (CBSL) on behalf of the Government of Sri Lanka (GOSL), the CBSL wishes to make the following clarifications: (a) There has been a clear operational procedure…
The Ministry of Highways & Road Development together with Petroleum Resources Development has developed the draft national policy on natural gas with a view to establish and develop the natural gas industry in Sri Lanka. With the view of further improvement and development of the policy, Public Utilities Commission of Sri Lanka together along with…
UN’s Food and Agriculture Organization warns pest is “here to stay” – but it can be managed to limit damage An insect that can infest and damage hundreds of hectares of maize fields, literally overnight, is sweeping across Asia – alarming smallholder farmers and threatening livelihoods – but the damage can be limited, the…
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