The special levy for debt repayment is proposed to impose on all transactions has to be totally borne by the financial institutions and won’t be allowed to be passed on to customers, State Minister of Finance Eran Wickremeratne clarified. Under the Budget 2018 proposal, the government plans to generate Rs. 20 Billion in 2018 through…
Secretary General of the United National Conference on Trade and Development (UNCTAD) Dr. Mikhisa Kituyi has assured the Minister of Science, Technology and Research Susil Premajayantha that the UNCTAD stands ready to assist with Sri Lanka’s Science, Technology and Innovation Policy Review (STIP) and to explore modalities of technical assistance and a strategy for mobilizing…
As a part of the Sri Lankan governments’ drive to achieve a target of USD 20 Billion in exports revenue by 2020, the Export Development Board (EDB) of Sri Lanka has developed a National Export Strategy for Sri Lanka with private and public sector participation. Six priority sectors and four Trade Support Functions (TSFs) have…
Reuters – Sri Lankan shares fell for a third straight session on Monday to their lowest close in near six weeks, weighed down by declines in telecom and banking stocks after the island nation targeted both cash-rich sectors in its 2018 budget to boost revenue. The Colombo stock index ended 0.63 percent weaker at 6,511.55,…
Hemas Holdings PLC (HHL) and its subsidiaries achieved a consolidated revenue of Rs.23.0Bn; a year-on-year (YoY) growth of 11.6% and profit attributable to equity holders of Rs.1.4Bn, a decline of 8.0% for the six months ending September 30, 2017. Year to date operating profit reached Rs.1.96Bn; a YoY decline of 5.4%. Despite consolidated revenue growing…
Softlogic Life Insurance PLC has more than doubled market growth recording Gross Written Premiums of Rs 5.283Billion an increase of 28.3% for the nine months ending September 2017 compared with the previous year. The profit after tax for the Company for 9months was Rs 755Million compared with Rs 909Million the previous year. The Company did…
Loan book grows to Rs 707.4 bn; deposits to Rs 818.6 bn. Shareholder funds cross Rs 100 bn. for first time Bank’s direct taxes for first 9 months of 2017 amount to Rs. 8.043 bn The Commercial Bank of Ceylon PLC has reported profit of Rs 19.718 billion before VAT and NBT on financial services…
The proposed 2018 National Budget progresses the recent economic policy visions of the government. There is a distinct move in the 2018 Budget towards putting into action strategies outlined in Vision 2025 and the Prime Minister’s economic policy statement of October 2017. This is particularly the case with initiatives such as boosting trade and investment,…
At a media briefing held on the 10th of November at Cinnamon Grand, Colombo – the company elucidated of its significant milestones to the distinguished gathering. The panelists highlighted on the unparalleled innovation, dynamic R&D capabilities and outstanding organizational culture that has made IFS standout from its inception. IFS counts over 120 of Sri Lanka’s…
A 15 member business delegation organised by the Ceylon Chamber of Commerce visited Riyadh to further promote trade, investment and tourism between Sri Lanka and the Kingdom of Saudi Arabia from 28th October to 1st November, 2017. This successful business promotion mission was organised by the Ceylon Chamber of Commerce in collaboration with the Embassy…
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