Political parties must formulate comprehensive plans for nation-building when gearing up for elections. President extends appreciation to the Customs Department for the customs revenue collected in 2023. To enhance the anticipated government revenue, the customs service needs to operate more efficiently. Modernization measures for state revenue-generating institutions, including customs, in the near future. President Ranil…
The Commercial Bank of Ceylon has announced an enhancement of the complimentary airport lounge access available to holders of premium segment credit cards issued by the Bank. The Bank-driven initiative will result in holders of Commercial Bank Visa Infinite credit cards enjoying up to four complimentary visits per year to airport lounges around the world,…
BBC – Saudi Arabia has said it will open a shop in Riyadh selling alcohol to a select band of non-Muslim expats, the first to open in more than 70 years. The clientele will be limited to diplomatic staff, who have for years imported booze in sealed official packages known as diplomatic pouches. Saudi officials…
By Rohan Parikh In the intricate case of Sri Lanka’s economic rejuvenation, the recent surge in the Value Added Tax (VAT) to 18 percent, coupled with the removal of certain industries from the exemptions list, has emerged as a focal point for concern among foreign investors assessing the country’s economic climate. This shift, occurring within…
Landmark acquisition signifies the first time a Sri Lankan apparel manufacturer has acquired a brand management company in one of its key markets. In a landmark move for the Sri Lankan apparel industry, Hela Apparel Holdings PLC has announced the acquisition of a major UK-based apparel brand licensing house. The company, which currently trades under…
First Capital Holdings PLC, the pioneering investment institution, has announced a groundbreaking milestone for the financial services industry in Sri Lanka with the introduction of the “First Capital Money Plus Fund”. This significant initiative, the first of its kind in Sri Lanka, offers digital withdrawal and payment facilities through a convenient EMV-enabled card for Unit…
In a landmark move, NDB Bank and the Colombo Stock Exchange (CSE) have entered into a Memorandum of Understanding (MoU) to pave the way for foreign investors to seamlessly invest in the Colombo Stock Exchange through Inward Investment Accounts (IIA), accessible via the CSE mobile application. Under this collaboration, NDB Bank assigned the Custody and…
President Ranil Wickremesinghe, addressing the 30th Annual General Meeting of the Lanka Confectionary Manufacturers Association (LCMA) yesterday (24) at Cinnamon Grand Hotel, Colombo emphasized the potential for Sri Lanka to become a global player in the confectionery industry. He encouraged Sri Lankan confectioners to expand their horizons and tap into international markets. Acknowledging the success…
Reuters – Tesla (TSLA.O) has told suppliers it wants to start production of a new mass market electric vehicle codenamed “Redwood” in mid-2025, according to four people familiar with the matter, with two of them describing the model as a compact crossover. Tesla CEO Elon Musk has long whetted fans’ and investors’ appetites for affordable electric…
In response to the proposed Online Security Bill, SLASSCOM (Sri Lanka Association of Software and Service Companies), FITIS (Federation of Information Technology Industry Sri Lanka), CSSL (Computer Society of Sri Lanka) and BCS Sri Lanka (British Computer Society) jointly express concerns and recommendations for the government’s consideration. Key Concerns: Impractical Liability for Intermediaries: Provisions holding…
Video Story
