In a major development in Sri Lanka’s wholesale market pricing-and thereby the critical Cost of Living-the country suddenly routed a tight grip held on the sole and apex wholesale market entity by a select group of suppliers so that budgetary relief finally reaches the consumer -and a powerful Lankan retail supplier collective of large capacity…
The government’s attention has been drawn towards a particular Indian motor vehicle marketing entity which has not reduced its vehicle prices in proportion to the tax concessions granted through the interim budget. Finance Minister Ravi Karunanayake told the media today (11 February) that though the prices of its vehicles have to be reduced by some…
Venture Capital could be introduced as an institution which provides funds to those who possess business ideas to make them work. Now, funds could be obtained through this system in Sri Lanka as well. This is the complete exclusive interview that BIZ 24X7 of the Ada Derana 24X7 channel had with ‘Blue Ocean Ventures’ Managing…
Though Sri Lanka’s new interim budget proposes to reduce the budget deficit to 4.4 per cent, there are possibilities of increasing inflation and economic imbalance due to the increase in the current spending, warns the international rating agency Moody’s Investors’ Service. If this budget deficit of 4.4 per cent of the Gross Domestic Product (GDP)…
It has been revealed that the new government has decided not to allow the tax free vehicle permits for government servants to be transfer before four years of its issue. A senior official from the Finance Ministry told www.adaderanabiz.lk that this decision has already been taken and that the relevant circular would be released shortly….
The Sri Lanka Vehicle Importers’ Association has appealed to Prime Minister Ranil Wickremesinghe not to impose the tax proposed by the interim budget, as it is, on the hybrid vehicles on which letters of credit have been opened before 29 January. A special discussion on this issue is scheduled to be held with the Prime…
Serenity now. It’s 4:30 in the afternoon and I’ve been stuck on the same stretch of Bush Street in San Francisco’s Financial District for an entire hour. And I have to pee. The Bay Area’s latest tech boom has left those of us living in, around, and on the outskirts of such “abundance” smack in…
Colombo equities continued the positive momentum on Monday as market stabilized after the policy changes. Benchmark All share price index advanced by 35.69 points (+0.5%) to end at 7,198.44 while S&P SL 20 advanced by 24.48 points (-0.62%) to end at 3,983.41. Today’s gains were mainly driven by counters such as Hatton National Bank (closed…
The Information and Communication Technology Agency of Sri Lanka (ICTA) announces the appointment of a new Chairperson and Board of Directors, with the change of Government. The new Board consists of Mrs Chitranganie Mubarak (Chairperson), Mr Muhunthan Canagey (Managing Director), Dr Ajith Madurapperuma, Mr Ananda Wijeratne, Mr Upul Kumarapperuma and Mr Chanuka Wattegama. Mrs Chitranganie…
Shaw Wallace Ceylon Limited, a subsidiary of Renuka Foods Plc has acquired 20,290,000 ordinary shares which amounts to 50 per cent shareholding of Richlife Dairies Limited from Renuka Agri Foods Plc for Rs. 605 million. Shaw Wallace Ceylon Ltd. will integrate Richlife Dairies Ltd into its operations.
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