Reuters – Sri Lanka intends to impose a capital gains tax on profits from equities, a senior government minister said late on Monday, as the government attempts to shore up its finances to qualify for an IMF loan. Sri Lanka’s cabinet approved reintroducing a capital gains tax on land early this month, but has not…
There is a tendency to take the foreign funds invested in the Asian region back to the United States. This has directly affected Sri Lanka as well, says Colombo Stock Exchange Chief Executive Officer Rajiva Bandaranayake while joining Ada Derana Biz 24X7 for an interview. While speaking further, Rajiva Bandaranayake said foreign investors contribute to…
The Colombo Stock Exchange (CSE) was presented with a National HR Excellence Gold Award at the recently held National HR Conference for 2016. Organized by the Institute of Personnel Management (IPM), the conference is tagged as South Asia’s largest HR event. The award was presented in recognition of the CSE’s exceptional HRM practices and the…
The Ceylon Chamber of Commerce, the country’s premier business chamber will hold its 177th AGM on today (Tuesday), 28th June at the Cinnamon Grand Hotel, Colombo, starting at 5.30 pm. Mr. Samantha Ranatunga, Chairman of the Ceylon Chamber of Commerce will chair the meeting at the AGM, while His Excellency Atul Keshap, US Ambassador to…
The Asian Development Bank (ADB) and Sumitomo Mitsui Banking Corporation (SMBC) today signed a co-advisory services agreement to provide the co-advisory services to the East Container Terminal (ECT) of Colombo Port. SMBC will join ADB’s ongoing advisory services for ECT as co-advisor in relation to preparing, structuring, and procuring the $500 million project, which includes…
Reuters – Sri Lankan shares fell for a sixth straight session on Monday as investors turned cautious after the UK last week voted to leave the European Union. The benchmark Colombo stock index ended down 0.81 percent at 6,318.21, its lowest close since April 11. Sterling fell more than 2 percent, the euro took a…
First segregated Lankan Life Insurer to announce IPO post segregation of Insurance industry LKR 75 million IPO, via an Offer for Sale, together with concerted strategic initiatives expected to support ATLL in growing even further ahead of the industry ATLL targets increasing its CAGR from 31% over the last five years to 34% over the…
The United’s Kingdom’s FTSE 100 index and British national currency, the pound sterling, continue falling after Brexit. MOSCOW (Sputnik) – UK shares and its national currency, the pound sterling, continue to fall on Monday after the country voted to leave the European Union. The United’s Kingdom’s FTSE 100 index decreased by almost 1.5 percent to 6,049.06 on Monday morning before showing a slight…
A Japanese business delegation consisting of 28 leading Companies visited Sri Lanka with the purpose of gaining a firsthand experience of the business and investment climate of Sri Lanka. The delegation consisted of representatives of leading Japanese enterprises and other companies such as Leopalace 21, Mitsubishi Corporation, Mizuho Bank, NTT Data, Mitsui & Co. India…
SriLankan Airlines, the national carrier of Sri Lanka, will be suspending its operations to Paris and Frankfurt, from winter 2016. Accordingly, the last flights between Frankfurt and Colombo (UL 553/554) will be operated on October 30, while UL 563/564 of November 6, 2016 will conclude the operations between Paris and Colombo. The Government of Sri…
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