By Priyanka Jayawardena The recent VAT revisions have hit the poorest the hardest, whereas the bottom 10% of income group households now spend about 10% of their income on VAT. The VAT burden has risen by approximately 50%, primarily due to the removal of VAT exemptions on around 100 items. This blog offers potential solutions…
Sampath Bank PLC proudly announces its participation in a significant financial milestone, contributing to the $750 million senior unsecured syndicated term loan facility for the State Bank of India (SBI), facilitated by Mashreq, one of the leading financial institutions in the MENA region. This collaboration highlights Sampath Bank’s commitment to supporting strategic international financing initiatives….
Sri Lanka Association of Inbound Tour Operators (SLAITO), the Apex Body, representing the Destination Management Companies (DMC) industry in Sri Lanka held its 44th AGM last Friday at Heritance Ahungalla. Mr. Nalin Jayasundara, Managing Director of Aitken Spence Travels was unanimously elected as the SLAITO President at the AGM. The SLAITO, formally known as the…
HNB PLC, a leading private sector bank in Sri Lanka, has strategically partnered with John Keells CG Auto (Pvt) Ltd (JKCG Auto), to offer innovative leasing solutions for their BYD vehicle range. This collaboration aims to make sustainable transportation more accessible to Sri Lankan consumers, reflecting both companies’ commitment to environmental responsibility and innovation. Geared…
Kanni Wignaraja, the Assistant Secretary General of the United Nations (UN), met with President Anura Kumara Dissanayake Yesterday morning (14) at the Presidential Secretariat. The discussion primarily focused on governance, constitutional reforms, and the country’s electoral system. Ms. Wignaraja presented the report on “Understanding Multidimensional Vulnerabilities: Impact on the People of Sri Lanka” to President…
Representatives of the Qatar Sri Lanka Business Council (QSBC) and the Export Development Board (EDB) of Sri Lanka engaged in discussions on fostering trade relations and exploring investment opportunities between the two countries. The meeting was held virtually on 09 October 2024. The QSBC delegation was led by President John Prasad, accompanied by Secretary Waruna…
Chinese leaders met two weeks back to set the nation’s economic working plan. Chinese plans to boost the economy with stimulus measures (which lifted the stock market to record highs) were announced last week. Below can be lessons for capitalists & socialists; Economy grew by 5% during Q1&2 in 2024 & market institutions predict a…
Sri Lanka’s Board of Investment (BOI) has established an online portal to streamline the clearance procedure for removing samples from zone firms with the Joint Apparel Association Forum (JAAF) and Sri Lanka Apparel Exporters Association (SLAEA), The Biyagama Export Processing Zone has officially implemented the new system, which aims to improve efficiency and transparency for…
Fitch Ratings: Fitch Ratings believes Asia Pacific (APAC) regional credit conditions could be challenged by trade protectionism, weaker economic growth and mounting geopolitical tensions if Donald Trump wins a second presidential term. Our analysis focuses on the potential for major policy shifts if the Republican candidate wins November’s US presidential election. We do not assess…
The John Keells Group is set to open doors to Cinnamon Life at City of Dreams Sri Lanka, on 15th October 2024. Developed at an investment of over USD 1.2 billion by the John Keells Group, this is the largest and most ambitious private investment in the country which will redefine our tourism landscape, catering to…
Video Story
