The All Island Dairy Association (AIDA) has voiced grave concerns regarding the Sri Lankan government’s proposed increase in the Value Added Tax (VAT) from 15% to 18%, set to take effect on January 1st, 2024. This move, intended to broaden the tax base, could have severe repercussions for the dairy sector, a vital contributor to…
The third offshore campus of the prestigious Indian Institute of Technology (IIT) is likely to be set up in Sri Lanka, according to sources. The proposal for an IIT in Sri Lanka was announced last November in the 2024 Budget unveiled by Sri Lankan President Ranil Wickremesinghe, who also serves as the finance minister. According…
Business Today – The Ministry of External Affairs (MEA) on Sunday said Unified Payment Interface (UPI) services will be launched in Sri Lanka and Mauritius on February 12. It said Prime Minister Narendra Modi, Sri Lanka President Ranil Wickremesinghe, and Mauritius Prime Minister Pravind Jugnauth will witness the launch of UPI services in Sri Lanka…
Member of Parliament Hon. (Dr.) Harsha de Silva has been re-appointed as the Chair to the Committee on Public Finance. The Committee of Selection had nominated Members of Parliament to serve in the Committee on Public Finance and Hon. (Dr.) Harsha de Silva has been Re-appointed as the Chair to the Committee. The Hon Speaker…
President Ranil Wickremesinghe, arrived at the Perth International Airport yesterday afternoon (08) to attend the 7th Indian Ocean Conference in Perth, Australia At the invitation of the India Foundation and the Australian Government, President Ranil Wickremesinghe is currently engaged in an official visit to Australia, to attend the Seventh Indian Ocean Conference taking place from…
Reuters – Global creditors and Moody’s, Fitch and S&P Global Ratings met on Wednesday to discuss ratings agencies’ actions after debt relief provided by official creditors to some of the world’s poorest nations, a source said on Thursday. The meeting also discussed methodology on credit action in the event countries carry out a debt swap…
The Sri Lanka Standards Institution (SLSI) presented a dividend cheque of LKR 50 million to the Treasury of Sri Lanka on 08th Feb 2024, reflecting its strong financial performance in 2022. This contribution signifies the institution’s commitment to supporting national development and economic growth. The cheque was presented by Hon. Kanaka Herath, State Minister of…
The Indian government has submitted a proposal through the Indian Oil Corporation (IOC) Ltd. for a multimodal oil pipeline connecting Nagapattinam in India, and Trincomalee Oil Tank Farm and Colombo in Sri Lanka. Commenting on this matter, Mr. Kanchana Wijesekera, the Minister of Power and Energy, said that a discussion on the proposal was held…
Reuters – India’s state-run Petronet LNG (PLNG.NS) plans to begin supplying liquefied natural gas (LNG) to neighbouring Sri Lanka for five years starting in 2025, its chief executive said on Thursday. Petronet will ship 850 metric tons of gas daily to the island nation in 50 containers of 17 tons each, CEO Akshay Kumar Singh said during…
Exterminators PLC, Asia’s first publicly listed, great place to work certified pest management and environmental enhancement technology company, is delighted to announce the appointment of Dr. Kishu Gomes as its chairman with effect from February 8, 2024. Dr. Kishu Gomes is a corporate leader with an impressive track record, having held leadership positions in both…
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