The vehicles for which the manufacturing tax has been reduced through new budget are currently not in use in any country in the world. The Finance Minister has prepared his budget proposals while eying the vehicles to roll out only in 2015, said the co-chairman of the Vehicle Importers’ Association, Kokila Deekiriwewa. He made this…
The gross official reserves which stood at USD 8.8 billion by end last September, has grown to USD 08 billion by 30 November 2015, says the Central Bank of Sri Lanka (CBSL) in its Monetary Policy released for November 2015. The CBSL adds further that the Sri Lankan Rupee has depreciated by 8.1 per cent…
* World class eco factory to produce comprehensive range of retail packaging solutions for Asia and Europe in a sustainable manner Wilkins Spence Sri Lanka, a subsidiary of the Wilkins Group UK, recently celebrated the opening of its state-of-the-art factory to produce retail packaging solutions in Mawaramandiya. The opening was attended by the Board of…
The Colombo Stock Exchange (CSE) announces the proposed establishment of an Institution to act as a Central Counter party for all secondary market transactions on the CSE. This institution which is a 100% owned company of the CSE will act as a Central Counter Party and guarantee settlement of cash and delivery of securities for…
The Chamber of Construction Industry Sri Lanka (CCI), the apex body which represents all the construction industry stakeholders in Sri Lanka will hold a special seminar on “Facts about the use of ASBESTOS – Chrysotile Cement Roofing” on the 1st of December 2015 at the Taj Samudra Hotel from 2:30pm onwards. Taking in to consideration…
Sri Lanka’s 2016 budget, released on 20 November, provides no clear plan for fiscal consolidation over the medium term. The absence of such a framework means that the risks of further deterioration in the fiscal deficit will remain, and high public debt relative to Sri Lanka’s ‘BB’ group median is not likely to decline, says…
Finance Minister Ravi Karunanayake says that even though certain politicians have not felt the price reduction of a number of essential commodities through 2016 budget, it has certainly been felt by the ordinary masses of the country. The Minister stated this during an observation visit to the Mattakkuliya SLTB depot 22nd November. Brushing aside allegations…
Colombo bourse plunged on Tuesday erasing the post-budget gains as the indices witnessed a broad-based decline triggered by the sell-off in the banking stocks. All share index declined by 52 index points in latter part of the trading session but managed closed slightly above 7,000 mark to close at 7,009.99, down by 45.85 index points…
Most companies registered in Sri Lanka are non-functional and hence he proposes an annual fee on all registered companies to be collected by the Registrar General of Companies to make them active again, Finance Minister Ravi Karunanayake said recently in Parliament while presenting the Budget proposals for 2016. The Finance Minister added that he proposes…
Less than nine months after it was commissioned, the new head office of the Brandix Group won the ‘Gold Flame’ for Commercial Buildings in the Large Scale category at the Sri Lanka National Energy Efficiency Awards 2015, reaffirming the apparel manufacturing giant’s commitment to the environment. The award presented by President Maithripala Sirisena to Brandix…
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