Sri Lanka’s export industries – especially the apparel sector, have long depended on efficient tax mechanisms to remain competitive in global markets. But one persistent bottleneck has threatened that edge for years: the country’s complex and delayed VAT refund process. This challenge is not new. In the early 2000s, a major VAT fraud case shook…
The Ministry of Finance is pleased to announce the launch of the Special Interest Scheme for Senior Citizens – 2025, effective from July 1, 2025, as approved by the Cabinet of Ministers under the Budget 2025 proposals. This scheme aims to provide additional financial support to senior citizens in Sri Lanka by offering enhanced returns…
A high-level delegation of Chief Executive Officers from the Confederation of Indian Industry (CII) met with the Prime Minister of Sri Lanka, Dr. Harini Amarasuriya, at the Parliament of Sri Lanka on June 30. The Prime Minister conveyed her appreciation for the continued partnership between India and Sri Lanka, particularly in advancing the country’s ongoing…
Sri Lanka Purchasing Managers’ Index for Construction (PMI – Construction), as indicated by the Total Activity Index, rebounded to 59.7 in May 2025. Most of the survey respondents mentioned that construction activities regained momentum in May, recovering from the slowdown in the April festive season. The respondents reported an increase in the awarding of new…
The Sri Lanka Bureau of Foreign Employment (SLBFE) has announced that steps are underway to initiate job opportunities under the E-8 visa category for seasonal employment in South Korea. Chairman of the bureau, Kosala Wickramasinghe, stated that the proposal for this initiative has already been submitted for Cabinet approval. Upon receiving the necessary approval, Memoranda…
World-renowned Indian film superstar Shah Rukh Khan is reportedly expected to visit Sri Lanka in August to attend the inauguration ceremony of the City of Dreams Sri Lanka project, which is scheduled to officially open on August 2. A recent post on the official Facebook page of City of Dreams Sri Lanka hinted at the…
Colombo’s overall inflation rate, as measured by the Year-on-Year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI), rose slightly to -0.6% in June 2025, compared to -0.7% in May 2025, according to the latest data released by the Department of Census and Statistics. The Y-o-Y inflation of the Food Group eased to 4.3% in…
The World Bank has appointed Johannes Zutt as the new Vice President for the South Asia Region, succeeding Martin Raiser. His appointment is effective from July 1, 2025. As the regional Vice President for South Asia, Mr. Zutt will manage World Bank relations with Bangladesh, Bhutan, India, Maldives, Nepal and Sri Lanka, and oversee a…
ATUM Beverages Pvt Ltd, a leading South Indian energy and soft drink manufacturing company, has announced its strategic entry into the Sri Lankan market, aiming to introduce its popular range of beverages and establish a local manufacturing facility. Speaking during a meeting with the Secretary General of the International Chamber of Commerce (ICC Sri Lanka),…
JXG (Janashakthi Group), Sri Lanka’s emerging financial conglomerate, brings together a broad spectrum of financial services – spanning investment banking, insurance, and finance & leasing. The Group announced its financial results for the fourth quarter and full year ended March 31, 2025. Consolidated Group Net Profit After Tax (NPAT) of LKR 5.24 Bn, Investment banking…
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