Reuters – Sri Lankan stocks closed higher on Wednesday, hitting a more than three-week closing high, led by gains in banking stocks after the central bank held the key monetary policy rates steady. The central bank’s widely expected decision earlier on Wednesday to hold the rates steady suggested that policy makers were keen to support…
The Cabinet has decided to re-impose the 15 per cent Value Added Tax (VAT) on cigarettes and to increase the existing manufacturing tax on any cigarette by Rs. 5/- on the recommendations of the ministerial committee to examine the joint proposal by President Maithripala Sirisena and Health, Nutrition and Indigenous Medicine Minister Rajitha Senaratne on…
Sri Lanka’s most iconic mixed development project, Cinnamon Life, announced the launch of ‘The Suites at Cinnamon Life’, the second residential tower to be constructed as part of a 4.5 million square foot integrated resort by Waterfront Properties (Private) Limited, a member of the John Keells Group. At the time of launch, pre-bookings for ‘The…
The Blue Mountain Group’s latest real estate development venture, Achilleion is set to make a lasting mark on Colombo’s skyline as one of the most luxurious and unique apartment complex in Sri Lanka to date. Adding further assurance of high quality deliverance to the project and cementing the trust placed in them, Blue Mountain Group…
According to the Department of Census and Statistics (DCS), the Sri Lankan economy is provisionally estimated to have grown by 2.6 per cent, year-on-year, during the second quarter of 2016 compared to the growth of 7.0 per cent recorded in the same period of 2015. Meanwhile, growth in the first quarter 2016 was revised to…
Reuters – Sri Lankan stocks ended slightly firmer on Tuesday to a two-week closing high led by blue chips, amid foreign outflows and tax hike concerns. Foreign investors sold a net 22.3 million rupees worth of shares on Tuesday extending the year-to-date net forging outflow to 3.03 billion rupees worth of equities. The International Monetary…
The first ever ‘Ada Derana Sri Lankan of the Year’ awards ceremony, was recently held at the Hilton, Colombo to honour and celebrate individuals and groups whose efforts and achievements have positively influenced the country while impacting the local community and uplifting the profile of Sri Lanka amongst international communities. Winners were nominated across multiple…
The Citrus Group of Companies, the exciting, young and fast expanding Sri Lankan leisure brand announced an overall strategic restructuring plan of its group yesterday. The proposed strategic restructuring subject to relevant regulatory approvals, shareholder approvals and conditions, entails Hikkaduwa Beach Resort PLC (CITH) making a voluntary offer to shareholders of Waskaduwa Beach Resort PLC…
A new visa will make it easier for migrants to have their parents visit them in Australia. Assistant Immigration Minister Alex Hawke launched a discussion paper on Friday (23) to kick start community consultations on developing the legislation for a new five-year temporary sponsored parent visa. “Reuniting three generations of families has great societal benefits,…
The Import Section of the CCC organized a seminar to discuss the proposed new customs law and the change in the current customs ordinance focusing on areas such as how the new law will cover online payments and e-document submissions, how it will boost international trade, what changes will be imposed on investigations and penalties…
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