Reuters – Sri Lankan shares fell 1 percent on Thursday to hit their lowest closing level in more than seven weeks as concerns over a government decision to reintroduce capital gains tax kept investors on the sidelines. Investor sentiment also took a hit on continued foreign fund outflows and rising interest rates, dealers said. Sri…
WASHINGTON—Off-the-road tires imported from India and Sri Lanka are being subsidized, the U.S. Department of Commerce said in a preliminary countervailing duty determination issued June 14. In the case of India, Commerce found subsidies of 4.7 percent on OTR tires from Balkrishna Industries Ltd., 7.64 percent from ATC Tires Private Ltd. and 6.17 percent from…
Reuters – Sri Lankan shares ended weaker for a second straight session on Wednesday, their lowest in about seven weeks, as concerns over rising interest rates and foreign fund outflows weighed on sentiment. Investor sentiment also took a hit after the government decided to reintroduce a capital gains tax, dealers said. Sri Lanka’s cabinet approved…
In an unprecedented development in Sri Lanka’s bilateral trade history, Africa’s third largest oil producer opened its prized petroleum exploration doors wide to Sri Lanka on 14 June-and this offer, if accepted, shall turn Sri Lanka’s national energy picture on its head. “If Sri Lanka wants to create its own petroleum you can come to…
While the Select Committee on Economic Management has agreed to the re-introduction of the Capital Gains Tax (CGT), the Cabinet has granted approval for the drafting of such a new system. The government states that there has been a huge growth in private capital in the country during the past several decades and while huge…
The Sri Lanka – Italy Business Council of the Ceylon Chamber of Commerce recently organized a presentation on Opportunities Available for Collaboration between Italy and Sri Lanka, in the Renewable Energy Sector. This Business Delegation had accompanied the Deputy Minister of Foreign Affairs, Italy Hon. Benedetto Della Vedova on his official visit to the Country….
Partner at 500 Startups, Pankaj Jain, will be hosting a 2-hour workshop for Venture Engine participants, as well as other Sri Lanka-based start-ups, on June 30, 2016, at Lankan Angel Network Incubation Centre in Colombo 04. This event is part of Venture Engine’s long-running workshop series, which frequently offers opportunities to not only learn from,…
The Sri Lanka Institute of Tourism & Hotel Management (SLITHM), the country’s national tourism and hospitality management institute, will hold its 37th Graduation Ceremony for 100 students on Friday June 17, 2016 at the BMICH Main Conference and Concert Hall. The ceremony will be held in the presence of dignitaries from the government, hospitality industry…
On June 3, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Sri Lanka. The Sri Lankan economy has good underlying momentum but is starting to show signs of strain from a combination of an increasingly difficult external environment and challenging policy adjustments. Real GDP growth was 4.8…
The Ceylon Chamber of Commerce will conduct a seminar on the WTO’ Trade Facilitation Agreement and its relevance for the Lankan businesses. The seminar to be held at the Ceylon Chamber of Commerce on the 27th June, starting at 2.30 pm, will see several senior trade officials and experts on the subject lining up to…
Video Story
