The imposing of the Super Gains Tax, introduced recently with retrospective effect and which caused huge controversies, would begin from today (30 October) and that the deadline for payment by the relevant companies be 31 December 2015, said a senior official from the Finance Ministry. While Parliament approved the imposition of this tax recently, there…
Textured Jersey Lanka PLC has acquired a total of 35,630,000 shares of Ocean Mauritius Limited from the Brandix Group, Jacob BAC Ltd, Compagnie Mauricenne de Textile Ltee and Pioneer Elastic Holdings Ltd for a total consideration of USD 15 million. Fifteen per cent of this to be paid in cash and the balance 50 per…
The Regional Director for Asia Pacific of the Chartered Institute of Management Accountants (CIMA) Ms. Irene Teng paid a courtesy call at the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently. Ms. Teng, who was accompanied by CIMA Head of Strategic Business for Asia Pacific Mr. Venkkat Ramanan and Regional Manager –…
Colombo bourse snapped the six day winning streak on Thursday amid high institutional activity levels. Consequently, All share index lost 23.96 index points (-0.34%) to decline from 2 week high to end at 7,070.13. S&P SL20 index plunged by 0.32% (12.11 index points) to close at 3,827.89. Price depreciations in high caps namely, Commercial Bank…
The leasing facility provided on purchases of vehicles has been increased to 90 per cent of the value of the particle vehicle from today (29 October) says the Finance Ministry. Steps are to be taken today for the Central Bank of Sri Lanka to inform this decision to the banks and financial institutions providing leasing…
Sri Lanka is a significant location as an investment hub to Swiss investors. The government has been able to establish a stable political environment since the regime change in January this year. Our intention is to achieve economic stability through this process, said Finance Minister Ravi Karunanayake while addressing an investment forum organized jointly by…
Indocean Developers, the promoter of Sri Lanka’s architecturally-unique twin-tower high rise development Altair, has reported significant buyer interest in Japan, following the company’s participation as the sole real estate sector entity at the recent Sri Lanka Business Forum in Tokyo. One of just a handful of Sri Lanka based companies to make presentations to a…
The first ever capital market investor forum held in Switzerland on 28th October 2015, proved to be an outstanding success. Titled “Invest Sri Lanka“ and organized by the Colombo Stock Exchange (CSE) in association with the Swiss Asian Chamber of Commerce (SACC), attracted a full house for the Breakfast Meeting at The Widder Hotel in…
Volkswagen has reported its first quarterly loss for at least 15 years after taking a big charge to cover the costs of its emissions scandal. VW said it had set aside Euros 6.7bn to cover the scandal, leaving it with a Euros 2.52 bn pre-tax loss for the third quarter of the year. In September,…
Colombo equities continued the winning streak for the sixth consecutive day on Wednesday amid the high institutional & foreign investor activity. Benchmark index advanced to 7,101 mark but closed lower at 7,094.09, up by 10.61 index points or 0.15%. 20-script S&P SL index bagged 12.17 index points (+0.32%) to end at 3,840.00. However, market breadth…
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