Reuters – Sri Lankan shares fell for a fourth straight session on Tuesday, posting their lowest close in more than six weeks, on continued worries over 2018 budget policies which imposed taxes on cash-rich telecom and banking sectors to boost revenue. The Colombo stock index ended 0.82 percent weaker at 6,457.90, its lowest close since…
Janashakthi Insurance PLC (Janashakthi) reported a consolidated Gross Written Premium (GWP) of Rs. 11.047 billion for the nine months ended 30th September 2017, registering a remarkable growth of 12.4% over the same period last year. Posting a GWP of Rs. 8.9 billion, the Non-Life or General Insurance segment continued to be the key driver of…
~ Group assets cross Rs 1 Trillion ~ Shareholder funds increase to Rs 2Bn ~ Total tax charge of Rs 9 Bn for the Group Hatton National Bank PLC (HNB) continued its growth momentum to post a group Profit before VAT & NBT of Rs 20.7 Bn while the PBT and PAT improved to Rs…
Fitch Ratings-Hong Kong/Singapore-14 November 2017: Sri Lanka’s budget for 2018 sticks broadly to the targets for fiscal deficit reduction under its three-year IMF programme, which began in June 2016. However, high government debt and the large cost of debt servicing weigh heavily on Sri Lanka’s credit profile and will require sustained fiscal consolidation over the…
The Lakshman Kadirgamar Institute of International Relations and Strategic Studies (LKI) and the Institute of Policy Studies of Sri Lanka (IPS) will host a joint lecture by Dr. S. Narayan, former Finance Secretary of India, on “India-Sri Lanka Economic Relations in Modi’s India.” The lecture will be held on Monday, 20 November 2017 from 4:30…
Under the Budget-2018 themed – Enterprise Sri Lanka- a credit scheme to be created with the allocation of Rs 15 billion for target small business sector. Under this scheme the target community can borrow loans at the rate of 6.5% Minister of Finance and Mass Media Mangala Samaraweera said. In the course of fund modernization…
Chairman of the International Ethics Standard Board for Accountants (IESBA) Dr. Stavros Thomadakis who was in Sri Lanka recently on an invitation extended to him by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), met with several top government and regulatory officials, where matters in relation to the accounting and auditing profession…
The Ministry of Finance has set up a special unit to monitor the progress of implementing 2018 budget proposals, State Minister Eran Wickremeratne reveled. Referring to the new taxes introduced under the budget, he said despite the crucial upcoming election, extraordinary measures have been made to raise government revenue to honor debt repayment and such…
The Ceylon Chamber of Commerce will host a discussion titled ‘Greater Potential for Sri Lanka – India Economic Relations’, with the presence of Dr. S. Narayan, Former Economic Adviser to the Prime Minister of India, who will share his views and observations. He will speak on the Indian Economy, potential for Indo-Lanka economic relations, ETCA…
The European Union launched one of the largest programmes of development support in the country. The European Union will contribute Rs. 5.4 billion in to reduce poverty in the provinces by improving the income of poor people living in rural areas and helping to ensure that they have enough food to eat, even in times…
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